Indian Startups Funded recently - Newnex Fortnight
The Indian market is on a rapid growth trajectory. In collaboration with Startup Europe India Network, we're expanding our fundraising track, Newnex Fortnight India, to India's rapidly booming venture capital ecosystem.
We tracked $200 million+ in fundraising and deal making in the past weeks.
Indian startup Elivaas, which oversees the management of villas and luxury apartments, has raised $2.5 million in a seed funding round led by Peak XV Partners' Surge. The funds will be utilized to expand the company's presence in key Indian cities and enhance its platform. Elivaas provides assistance to homeowners in property maintenance, booking, pricing, and promotion, while offering renters a curated travel experience.
Indian electric bike manufacturer EMotorad has secured $20 million in a Series B funding round as part of its efforts to challenge China's market dominance and extend its global footprint. The three-year-old startup, which has raised over $22.5 million in total funding, saw Singapore's Panthera Growth Partners lead the latest investment round. Other participants included Alteria Capital, xto10x Technologies, and Green Frontier Capital, an existing investor. The funding also comprises $2.5 million in debt.
HempStreet, an Ayurvedic cannabis startup, has secured $1 million in a pre-Series A funding round led by current investor Carl Waahlin. Additional participants in this funding round include Andre Rodrigues and a group of High NetWorth Individuals (HNIs) from South East Asia, along with Abhishek Mohan. To date, HempStreet has received a total funding of $3 million and collaborates with over 20,000 doctors throughout India.
In its seed funding round, agricultural technology startup Suind has secured Rs 5 crore with Sunicon Ventures leading the investment, along with contributions from Zetta Farms and other angel investors. Suind intends to utilize the funds to expedite technological developments, improve the scalability of its AI-driven crop protection platform, and broaden its market presence in both Indian and European markets, as stated in a press release.
Onedios, a platform that aggregates customer care services, has secured INR 6 Crores in a bridge round, with leading contributions from Inflection Point Ventures and VCATs. The raised funds will be utilized to bring retailers on board, enabling them to offer Branded/OEMs extended warranties instead of third-party extended warranties.
Emerging from stealth mode, Sarvam AI has disclosed a funding raise of $41 million for its efforts to develop a suite of full-stack generative AI offerings. The funding, secured across both Seed and Series A financing rounds, was led by Lightspeed in the Series A round and co-led by Lightspeed and Peak XV Partners in the Seed round. Additionally, Peak XV and Khosla Ventures participated in the Series A funding.
Navadhan, a rural fintech company, has disclosed that it secured $5 million in its Pre-Series A funding round, with Prime Venture Partners leading the investment. Existing investors, including Varanium NexGen Fintech Fund and Gemba Capital, also participated in the round. The additional funds will be deployed to advance the company's AceN tech platform and expand its distribution and service delivery model.
Digivriddhi Technologies, a dairy fintech startup commonly known as DGV, has effectively raised $6 million in its Series A funding round, with Omidyar Network India taking the lead in the investment. Existing investors, including Omnivore and Info Edge Ventures, also demonstrated increased participation in the Series A round.
ShipGlobal, a startup specializing in cross-border logistics, has successfully raised $2.5 million in a seed funding round led by early-stage venture capital firms Info Edge Ventures and Temasek.
DigitalPaani, a company founded by alumni of Stanford and IIT-Delhi that is revolutionizing water management, has announced a highly oversubscribed capital raise of $1.2 million in its seed round. The funding is led by global investors such as Elemental Excelerator, marking their inaugural investment in Asia, along with Indian institutional investors Enzia, Peer Cheque, SAE, DevC, and Bharat Founders Fund. Prominent angel investors, including Ashish Goel (Urban Ladder), Alok Mittal (Indifi), Mohit Sadani (Moms Co), and Mohit Tandon (Delhivery), have also participated in this funding round.
VoiceClub, an on-demand audio consultancy platform, has secured $700,000 in a seed funding round, with Better Capital leading the investment. TDV Partners, Blume Founders Fund, Sunn91, Astir Ventures, and founders of Kutumb, Dhan, PagarBook, Flobiz, Khatabook also participated in the funding round.
The Sleep Company, a startup specializing in sleep solutions, has secured $22 million in a Series C funding round led by existing investors Premji Invest and Fireside Ventures. The capital raised will be utilized to broaden the range of product offerings, including the expansion of 'SmartGRID-based' products into additional categories. Notably, this funding comes just 12 months after the company's previous fundraising round in November 2022 when it raised around Rs 177 crore ($21.3 million) in a Series B round led by Premji Invest.
In a Series C funding round, coffee chain firm Third Wave Coffee has secured $35 million, with homegrown private equity firm Creaegis leading the investment. WestBridge Capital, an existing investor, also took part in the funding round.
Vegrow, a B2B fruits marketplace, has secured $46 million in a primary and secondary funding round led by GIC, with participation from existing investor Prosus Ventures, Matrix Partners India, Elevation Capital, and Lightspeed. The newly raised funds will be used to expand Vegrow's presence across India and enhance its global network.
AllTrak, a healthcare logistics platform, has secured Rs 4.2 crore in a pre-Series A funding round led by Inflection Point Ventures. The funds raised will be allocated towards expanding the team, enhancing technology, and expanding logistics operations to multiple cities across India. Established by Amit Gupta and Tarun Sharma, AllTrak provides comprehensive solutions to diagnostic companies, encompassing a technology SaaS platform, a nationwide shared logistics network, and a phlebotomist network, facilitating healthcare companies in serving their patients.
Scimplifi, a platform facilitating the sourcing and manufacturing of specialty chemicals, has secured $3.67 million in its seed funding round from 3one4 Capital and BEENEXT. The funds will be deployed to expand the core team, focusing on business, value engineering, and technology enhancements.
Offside, a social app catering to cricket enthusiasts, has secured $150,000 in pre-seed funding from 100X.VC. The funds will support Offside's growth trajectory, allowing it to increase its user base to 500,000 in the upcoming months.
Scandalous Foods, a one-stop-shop, has secured 1.6 crore in the ongoing pre-seed funding round, co-led by Anthill Angel Fund, EvolveX, Value360, and Sapphireink, with participation from Sagar Daryani, Kamnaa Aggarwal, Vikas Aggarwal, and Harpal Singh Sokhi. The funds will be used for product development, expanding its production unit in Nasik, automating production processes, and increasing its reach from 250 touchpoints to 2000 touchpoints within a year.
PatilKaki, a startup specializing in homemade snacks, has secured a new funding round led by the angel investing network Cap70 Angels, with additional participation from serial entrepreneurs Agnelorajesh Athaide and Kailash Biyani. The funds raised will be utilized for scaling up operations, optimizing marketing strategies, and expanding sales and distribution, among other initiatives. Founded by Vinit Patil and Darshil Savla, PatilKaki provides homemade snacks and sweets, including modak, laddoos, protein foods, and namkeen special food services.
Twyn, a deeptech startup focused on Phygital twin technology, has secured $1.25 million in a pre-Series A funding round led by JITO Incubation and Innovation Foundation (JIIF) and ah! Ventures. Other notable investors include HEM Angels, Bestvantage, and Beej Network. Twyn plans to utilize the funds for expansion into auto, petrochemicals, and steel hubs in the Middle East and Europe. Additionally, the startup aims to strengthen its leadership team in both India and Dubai to support its growth plans and market expansion.
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