The Weekly Funding Report: 26.11.22 - 02.12.22
KreditBee raises $80 Mn
Fintech startup KreditBee raised $80 million in its Series D funding round from MUFG Bank and existing investors Motilal Oswal Alternates, NewQuest Capital and Mirae Asset Ventures. The funds will be used to scale up its product portfolio and improve its technology. KreditBee is a platform that facilitates loan transactions between banks and borrowers and provides check-out finance to customers as well.
DeHaat raises $60 Mn
Agritech startup DeHaat raised $60 million in a Series E funding round led by Sofina Ventures and Temasek, along with participation from Prosus Ventures, RTP Global India and Lightrock India. The funds will be used to expand the company’s reach to new locations globally and get over one million farmers on their online platform. DeHaat is an online marketplace that offers end-to-end agriculture solutions and services to farmers by means of AI-enabled technologies to improve the supply chain and production in the farming sector.
Prismforce raises $13.6 Mn
SaaS firm Prismforce raised $13.6 million in its Series A funding, led by Sequoia Capital India and other angel investors. The funds will be used to improve the company’s product offerings, hire talent and enhance go-to-market capabilities. Prismforce is a vertical SaaS for IT services companies that enables them to create agile talent supply chains.
MoooFarm raises $13 Mn
Agritech and dairy startup MoooFarm raised $13 million in a Series A round led by Aavishkaar Capital, along with participation from Accel Partners, Aditya Birla Ventures, Rockstart and others. The funds will be used to scale up its operations in Rajasthan, Punjab and Haryana and expand into Madhya Pradesh and Maharashtra. MoooFarm is an IT company that uses technology to help farmers track and monitor each cattle's health, breeding cycle, productivity, profit & loss, and dairy herd performance.
Blox raises $12 Mn
Proptech startup Blox raised $12 million in a Series A round from existing Silicon Valley investors and new angel investors, including Kunal Shah. The funds will be used to expand its market, improve its product portfolio, and build a data infrastructure across customer, broker & developer segments. Blox is an online real-estate service with the aim of making the process of buying homes smooth for its users using digital & expert solutions, data science, and proprietary algorithms. It provides an expert to every home buyer to oversee physical and virtual site visits.
Aye Finance raises $10 Mn
MSME lending platform Aye Finance raised $10 million from ResponsAbility Investments AG. The company will use the funds for offering business loans to the micro-enterprise sector and support its integration into the formal economy. Aye Finance is a fintech company that is focused on empowering and providing secured and unsecured loans to micro and small enterprises.
Flash raises $5.8 Mn in seed funding
E-commerce startup Flash raised $5.8 million in seed funding from Global Founders Capital, White Venture Capital, Zinal Growth, Soma Capital, Emphasis Ventures and Peer Capital and other angel investors. The funds will be used for product development, hiring new employees and global expansion with an aim to get 2 million users in the first year. Flash is an online shopping startup that aims to improve the online shopping experience, especially for power shoppers, by addressing issues like improper communication, lack of rewards and post-order experience.
Source: Your Story
Covvalent raises $4.3 Mn
B2B platform Covvalent raised $4.3 million in a seed round led by Nexus Venture Partners, along with participation from angel investors like Vishal Chaudhary, Ramakant Sharma, and Rajesh Yabaji. The company will use the funds for its product & team development and enhance its technology tools to better match customer demands to the supplier’s output. Covvalent is a B2B platform for speciality chemicals that solves cross-border core supply chain issues such as supplier discovery, delivery delays and quality rejections. It is the most trusted partner in the speciality chemicals space for its buyers and sellers.
Vetic raises $3.7 Mn in seed round
Pet care startup Vetic raised $3.7 million in a seed funding round led by Lachy Groom, along with participation from angel investors like Utsav Somani, Nitin Saluja, Ritesh Agarwal and Abhinav Sinha. The company will use the funds to enhance technology, establish modern medical infrastructure and widen its reach of clinics across Delhi and Bangalore regions. Vetic is a tech-enabled chain of pet clinics that provides top-class medical care for pets and other pet needs such as nutrition, wellness, grooming etc.
CBREX Raises $3 Mn in pre-Series A funding
B2B talent sourcing platform CBREX raised $3 million in its pre-Series A funding round led by WaterBridge Ventures. The company will use the funds to boost its US go-to-market strategy, enhance product development, and drive client & partnership growth. CBREX is a B2B online platform that connects recruiters to recruitment agencies, allowing recruiters to hire people from multiple domains and large skill sets.
Gamerji raises $3 Mn
Esports startup Gamerji raised $3 million in pre-Series A funding led by GVFL and Unicorn India Ventures. The funds will be used to enhance technology, develop EaaS, expand the gaming platform in international markets in the MENA region and introduce it in countries of the SEA region. Gamerji is an Esports tournament platform which allows users to play tournaments, host matches, share content and win cash prizes for games like Clash Royale, Call of Duty, Free Fire and more.
Intugine raises $2.3 Mn in pre-Series A round
Multi-modal visibility startup Intugine raised $2.3 million in its pre-Series A funding round led by Mela Ventures, Kaleesuwari Group and Innoport, along with participation from other angel investors. The company will use the funds for product development, widening its reach to global markets and diversifying its team across product, data and GTM functions. Intugine is a real-time supply chain visibility firm that aims to revolutionise the logistics sector by providing businesses with in-transit tracking from full-truck loads to ocean and rail transportation, yard management, EPOD and setting up logistics control towers.
ClassMonitor raises $1.2 Mn
Edtech startup ClassMonitor raised $1.2 million in its pre-Series A funding round led by Lead Investor Frontline Strategy Funds and Khimji Family, along with participation from Sarvann & Calega Family Office. The funds will be used to further expand and strengthen its dominance in the early education sector. ClassMonitor is a hybrid learning solution for kids aged 0-8 years. Depending on the age group, the company provides children with learning kits that include practice worksheets, unique games, puzzles, etc.
Suraasa raises $1.2 Mn in seed round
Skill-tech startup Suraasa raised $1.2 million in seed funding led by Inflection Point Ventures, along with participation from NB Ventures, SuperMorpheus, Vinners and others. The funds will be used to expedite growth and widen the startup's operations. Suraasa is an upskilling and career-tech online platform that helps teachers enhance their skills and meet certificate requirements through mentorships, teaching diploma courses, and access to national & international job opportunities.
Homesfy Realty raises $1.1 Mn
Proptech company Homesfy Realty raised $1.1 million from investors like Girish Gulati, Dnyanesh Bhatavadekar, Neha Idnany, Yogesh Bagaria and Amit Bagaria. The funds will be used for working capital requirements, general corporate purposes and organic growth. Homesfy Realty is a real estate advisory company that provides brokerage services to buyers, sellers, and investors of residential and commercial properties.
Source: The Economic Times
Prodo raises $1 Mn in seed funding
Manufacturing startup Prodo raised $1 million in a seed round led by Inflection Point Ventures, along with participation from Titan Capital, LetsVenture and Dholakia Ventures. The company aims to establish efficiency in their operations and supply chains with a fast turnaround time for a better client experience. Prodo is a manufacturing and procurement firm that helps large and mid-sized companies order in bulk by matching the order placed with the suitable manufacturing unit. It uses data and allows the clients to live track their order’s production cycle from the beginning to its delivery.
Source: The Economic Times
Hoovu Fresh raises $790K
Fresh puja flower startup Hoovu Fresh raised $790K in a pre-Series A funding round led by Sauce.VC, along with participation from angels like Sangeet Agrawal and Akshay Dujodwala. The startup aims to deliver people fresh flowers everyday at affordable prices. Hoovu Fresh is a fresh flower delivery company that works directly with farmers and packaging & distribution channels to process flowers using technology that helps them stay fresh for 15 days. It also sells other Puja Samagri, such as agarbatti made out of recycled flowers on its website and leading e-commerce platforms.
Relove raises $700K in pre-seed funding
Tech startup Relove raised $700K in pre-seed funding led by Hearth Ventures, along with participation from Blume Ventures and angel investors Anita Dongre, Aakrit Vaish and Utsav Agarwal. The funds will be used to assist more brands in becoming circular, expand the startup’s product offerings, and launch its offline takeback program in physical outlets. Relove is a technology startup that aims to transform fashion brands by creating a resale technology that will reduce waste in fashion, promote greener lifestyle choices and help brands build loyalty and acquire customers.
Suwasthi raises $246K
Health and nutrition startup Suwasthi raised $246K from Velocity. The company will use the funds raised to increase its working capital. Suwasthi is a D2C beauty and personal care brand that provides healthcare solutions for diabetic people and skin & hair care products made with organic ingredients to offer its customers non-toxic, safe and natural results.
TRST Score raises $245K
Employee risk mitigation platform TRST Score raised $245K in its seed funding round from seven reputed angel investors. The funds will be used to widen the company’s reach and enhance its technology offerings. TRST Score is a human risk mitigation platform that helps firms secure the data of their employees, agents, clients and others. It stores the data in a privacy-protected environment for transparency, improved decision-making, efficiency and reduced cost & loss while dealing with human resources.
Cinnamon Homes raises an undisclosed amount
Home decor startup Cinnamon Homes raised an undisclosed amount of funding, co-led by Purplle’s co-founder Rahul Dash and Deutsche Bank’s vice president Chetan Jajoria, along with participation from several angel investors. The funds will be used to strengthen the company’s marketing and product development efforts and focus on growth & expansion in the Delhi-NCR region. Cinnamon Homes offers premium furniture and decor products and provides complete home furnishings based on designs preferred by customers.
Source: BW Disrupt
Fibroheal Woundcare raises an undisclosed amount
Biotechnology startup Fibroheal Woundcare raised an undisclosed amount from KITVEN. The funds will be used to improve the company’s delivery capabilities and build up its manufacturing capabilities to cater to high market demand. Fibroheal Woundcare is a healthcare startup that is working on “Silk Proteins” as “Biomaterial for Wound Healing” for acute, chronic, traumatic, and post-operative wounds.
Source: Deal Street Asia