Weekly Funding Report - 07th to 13th January 2023
KreditBee raises $100 Mn in extended Series D round
Fintech firm KreditBee has extended its Series D round of primary funding from Advent International by $100 million. The startup claims that the funds raised will be utilised to expand the current business and extend its product line by dabbling into digitally connected financial goods. KreditBee is a digital lending platform that provides credit and other personal finance services through Krazybee Services Pvt Ltd, a registered non-banking financial firm.
Source: YourStory
Wakefit.co raises $40M in Series D round
Wakefit.co, a furniture, and home improvement brand, raised $40 million in a Series D funding round. The round was led by Investcorp and also saw participation from existing investors Sequoia Capital India, Verlinvest, and SIG. The startup intends to use the funds to scale up its manufacturing and supply chain capabilities. The D2C brand offers a range of home improvement products and furniture items.
Source: YourStory
The Whole Truth raises $15 Mn in Series B funding
Clean-label food startup The Whole Truth raised $15 million in a Series B round, led by Sequoia Capital India. The round also saw participation from existing investors Matrix Partners India and Sauce.VC, as well as angel investors Jaydeep Burman, and Sriharsha Majety. The startup will use the additional funding to expand its internal manufacturing capacity, hire personnel, and expand its retail distribution. The company promises to offer its clean-label energy bars, nut butters, chocolates, and muesli through marketplaces, e-commerce platforms, and physical storefronts.
Source: YourStory
CropIn raises $13.7 Mn
Agritech firm CropIn raised $13.7 million from existing investors ABC Impact and Chiratae Ventures as well as new investors Google and JSR Corporation. The business will use the additional funding to develop its CropIn Cloud platform to meet the rising need for digitisation and predictive intelligence in the global agriculture sector. The funding will also aid CropIn in expanding the platform's functionality and investing in its go-to-market strategies. CropIn Cloud uses digital technology and predictive intelligence to assist people in making decisions that improve farming production, risk management, and sustainability.
Source: YourStory
VilCart raises $13 Mn
Rural commerce startup VilCart secured $13 million in a Series A funding round. The round was led by Asia Impact, and also included Texterity and the equity fund Nabventures. The funds obtained will be used for operations and business growth. VilCart facilitates the management of supply chains, logistics, and inventory for village kirana businesses.
Source: The Startup Lab
Park+ raises $12.8 Mn in Series C round
Car-owner-focused app Park+ raised $12.8 million in a Series C round headed by current investors Epiq Capital, Sequoia Capital India, and Matrix Partners India. The money raised will be used to increase its reach in more than 100 cities across all of its services, hire close to 200 people, and broaden its service verticals. With Park+, users can search for and reserve parking, recharge their FASTag, get daily car washing, read e-Challans, inspect the health of their vehicles, and much more.
Source: The Startup Lab
Brick&Bolt raises $10 Mn
Tech-based construction platform called Brick&Bolt has raised $10 million in a new investment round that was jointly managed by Accel and Celesta Capital, two major international venture capital firms. The money raised will be put to use in the next 15 months to grow to more than 12 cities, increase the leadership team, and improve the tech stack. Brick&Bolt is a tech-based building platform that offers clients easy, transparent, and reliable home and commercial construction.
Source: The Startup Lab
Athulya raises $9.3 Mn
Supplier of senior care services Athulya raised $9.3 million from North Haven India Infrastructure Partners. The startup plans to use the funds to extend its services across south India, eventually adding over 2,500 beds and catering to over 50,000 elders. Athulya provides assisted living, transition care, and home healthcare, and will soon provide palliative care services to meet the needs of dependent seniors over the age of 60. The founders have experience working with healthcare organisations in the US and India and specialise in geriatric care.
Source: YourStory
Virohan raises $7 Mn
Healthcare ed-tech firm Virohan raised $7 million in pre-Series B1 funding led by Blume Ventures. Bharat Inclusion Seed Fund, Rebright Partners, and Lesing Artha Limited also participated in the round. With this funding, Virohan hopes to open 200+ new schools across India and train nearly 7,000 students. The company also intends to use the funds to expand its omnichannel training platform infrastructure, create new training programmes, and produce material in regional languages. Virohan educates students in Allied Healthcare Programs (AHP), which account for 60% of the healthcare workforce and include technicians such as Phlebotomists, Medical Lab Technicians, Operation Theatre Technicians, and others.
Source: YourStory
Peepul Tree raises $6 Mn in seed funding
Live commerce platform Peepul Tree has raised $6 million in seed funding from venture capital firm Elevar Equity. The company will use the funds for tech portfolio expansion, content creator onboarding, and product marketing.
Peepul Tree is a showcase for the finest hand-crafted artisanal products from India's most remote regions. By aggregating supply using a cluster-based strategy and managing the supply chain and logistics to customers via its digital platform, the platform collaborates with local craftspeople and content producers.
Source: The Startup Lab
ApnaKlub raises $6 Mn in Series A funding
B2B wholesale company ApnaKlub received an additional $6 million in funding from TrueScale Capital and ICMG Partners as part of a Series A funding round. Sequoia India's Surge, Blume Ventures, and Flourish Ventures also participated in the funding round. The money raised will be put to better use by enhancing the digital platform utilised by wholesalers and kirana store owners in Tier II and III cities to make purchases of goods and services. ApnaKlub is an FMCG wholesale platform for low-density markets.
Source: The Startup Lab
BankSathi raises $4 Mn in pre-Series A round
Social commerce platform Banksathi raised $4 million in pre-Series A funding from Kotak Securities, Lets Venture, We Founder Circle, Hem Securities, and Inflection Point Ventures. The startup will use the money for hiring top-notch personnel across all departments and expedite the creation of fresh goods and technology. It will also devote resources to expanding the geographic scope and agent network. The BankSathi platform empowers consumers with more power by giving last-mile users in Tier II and Tier III cities and outlying areas access to the appropriate financial products.
Source: YourStory
EFeed raises $1 Mn in seed funding
The health and nutrition company eFeed raised a $1 million seed investment from venture capital firm Omnivore. The funds raised will be used to boost its operations in research and development, broaden its network of farmers, and increase recruiting. eFeed provides nutritional supplements for livestock and offers nutrition advice to farmers so they can localise nutrition for their particular animal species and achieve higher development & quality of the animal, providing them with a better harvest and income.
Source: The Startup Lab
InCruiter raises $121.7 K
Interview as a Service (IaaS) startup InCruiter raised $121.7 K in a revenue-based funding round led by Recur Club. The business will utilise this funding to advertise its services in the US, Canada, and Dubai in order to hasten geographical expansion along with opening new offices in these nations. It will also hire skills in sales and technology. Businesses can use InCruiter's remote interviewing solutions to narrow down the ideal candidate for their organisation through precise and accurate assessment.
Source: YourStory
Awaz raises an undisclosed amount in a pre-seed funding
AI-powered job-tech app Awaz has raised an undisclosed amount in a pre-seed investment round. The round also saw participation from other investors like Sujal Shah, Lalit Keshre, and Harsh Jain. The money raised will be utilized to increase its user and client base, especially in industries with high turnover rates for employees. Awaz is a job-tech app that boasts of having 250 video interviews and over 900 job applications available on its site. The startup screens the applications and gives recruiters leads using AI/ML techniques.
Source: The Startup Lab