Newnex Fortnight India, Startups funded track
Newnex Fortnight India, startups funded recently
20 January 2024
We tracked $100 million in fundraising and deal-making in the past fortnight. Newnex Fortnight India is the fundraising track of the flourishing Indian venture capital ecosystem. Published in collaboration with the Startup Europe India Network
Larkai Healthcare, an innovative medical technology company, has successfully raised $500,000 in its seed funding round. The funding was co-led by FAAD Network, QI Ventures, RTAF, and supplemented by additional government grants. The raised capital will be utilized to enhance the company's technological capabilities and expand its sales channels through strategic investments. Larkai Healthcare specializes in groundbreaking biomedical innovations with a focus on early detection of heart impulse and valvular diseases within 15 seconds. They also offer a smart inhaler cap to minimize drug wastage in asthma or pulmonary tract disorder treatments, along with a lightweight and cost-effective disinfection tunnel among their diverse range of solutions.
Settl, a co-living operator, has successfully raised Rs 10 crore in its pre-Series A funding round from Gruhas and We Founder Circle. The capital infusion is intended to fuel the expansion of Settl's business. The funding round also saw participation from Anthill Ventures, Inflection Point Ventures, Ah! Ventures, Nila Spaces Limited, Soonicorn Ventures, Awficacy Capital, Pai Ventures LLP, and Ekyum.
Gurugram-based startup, Slurrp Farm, specializing in children's snacks and meals, has recently secured a fresh investment of Rs 59.9 crore in a funding round featuring a mix of new and existing investors. This marks a return to capital acquisition for the company after a hiatus of nearly two years. Among the investors, existing backers Fireside Venture and Raed Capital contributed Rs 12.4 crore and Rs 5.48 crore, respectively. New investors Alkemi Ventures and Madhurima International each invested Rs 17.5 crore, while Sharrp Ventures, the investment office of the Harsh Mariwala family, also participated with an investment of Rs 7 crore.
In a recent funding round, Chennai-based health-tech platform Curebay has successfully raised Rs 61.8 crore, with existing investor Elevar Equity taking the lead. Following the additional funding, Elevar Equity now holds the largest external stake in the company at 34.08%, followed by Hemani Industries and InCred Wealth.
Country Delight, the dairy brand, has successfully raised Rs 164.4 crore in a Series E funding round, attracting support from both new and existing investors. This funding marks a return to capital acquisition for the Gurugram-based startup after a hiatus of over 20 months. Temasek took the lead in the round, contributing Rs 78.16 crore, while Seviora Capital, a new investor, injected Rs 57.77 crore into the Series E round. Additionally, existing investor Venturi Partners participated by contributing Rs 28.55 crore in this investment round.
In an extended Series A round, mental health startup Amaha (formerly InnerHour) has secured $4.4 million in funding from Fireside Ventures. This marks the first fundraising effort for the Mumbai-based company in the last two years. Amaha, developed by therapists and psychiatrists with global experience, is dedicated to delivering quality mental health care and addressing the treatment gap in India. The startup has been valued at approximately Rs 177.2 crore or $21.35 million. To date, Amaha has raised around $10 million from investors such as Lightbox Ventures, Capricorn Partners, Pankaj Sahni, Hitesh Oberoi, and Ashish Bhargava, among others.
In a Series B funding round, supply chain startup Wiz Freight has secured $11.24 million, with Japan-based venture capital firm SBI Investments leading the investment. This funding marks the first capital infusion for the Chennai-based startup in over 20 months.
OneCard, a mobile-first credit card startup, has successfully raised $11.44 million in debt from Alteria Capital. This marks the second round of debt funding for the company within the past few months. According to regulatory filings with the Registrar of Companies, the board at OneCard passed a special resolution to issue 9,500 Series B debentures at an issue price of Rs 1,00,000 each, resulting in a total funding of Rs 95 crore.
In the Series C funding round, Akshayakalpa Organic, the organic dairy startup, has successfully raised $12 million. A91 Partners took the lead in the round with an investment of Rs 64.8 crore, and existing investors Rainmatter Capital and British International Investment, the UK’s development financial division, contributed Rs 18.6 crore and Rs 16.6 crore, respectively.Top of Form
MakeO, the parent company of dental tech startup Toothsi and skincare brand Skinnsi, has successfully raised $16 million in a funding round led by 360 ONE Asset and the investment office of Ashish Kacholia. Existing investors Eight Roads Ventures, Paramark Ventures, IIFL, and the family office of Medlife’s co-founders also participated in the round. With the recent funding, MakeO has raised a total of $90 million across equity and debt rounds. The company plans to utilize the fresh funds to expand its geographic footprint and scale its experience centers throughout the country.
In a pre-Series A funding round, B2B-focused SaaS start-up Glamplus has secured ₹16.5 crore from investors including Upsparks, Eagle10 Ventures, ITI Growth Opportunities Fund, and Inflection Point Ventures. Notable participation also came from Kube VC and prominent investors like Gopal Krishna Varshney and IR Capital Partners. The company has announced that the funds will be utilized for B2B expansion in Tier I and Tier II cities, as well as to facilitate entry into international markets.
In its Series A funding round, custom manufacturing platform Karkhana.io, which serves manufacturing MSMEs, has successfully raised $6.3 million. The round was led by Arkam Ventures and Susquehanna Asia Venture Capital, with participation from existing investor Vertex Ventures Southeast Asia and India. The funds raised will be utilized by Karkhana.io to expand its supplier base, improve its electronics supply chain, and support its expansion plans across the United States and Europe. Karkhana.io specializes in providing sourcing and contract manufacturing solutions to original equipment manufacturers (OEMs) and technology companies. The platform collaborates with manufacturing MSMEs in India, delivering customized manufacturing solutions across various product categories such as electric vehicles, medical equipment, consumer electronics, aerospace, and more, addressing small batch to mass production requirements.
Bengaluru-based wealthtech startup Fisdom is in the process of raising approximately $5 million from its existing investor PayU as part of its ongoing Series C round. In the previous year, Fisdom secured close to $14 million from existing investors like PayU and Quona Capital at a valuation of around $145 million.
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