This Week in Startups 🌟 | Stay ahead with Entrepreneurship Studio as we bring you the latest and most exciting updates from the startup world. From groundbreaking funding rounds to innovative breakthroughs, we've got your weekly dose of entrepreneurial spirit right here.
Cloudphysician, an AI healthcare startup based in Bengaluru, has secured $10.5 million in a Series A funding round led by Peak XV Partners, alongside Elevar Equity and Panthera Peak. The funding will bolster the startup's growth within India and its expansion into global markets including the US. This infusion of capital will enhance Cloudphysician’s AI platform, RADAR, advancing its co-pilot features to support medical professionals more effectively. Founded in 2017, Cloudphysician aims to transform critical care delivery by leveraging its AI-powered digital Care Center platform to manage ICU operations across approximately 2,400 beds in 230 hospitals. This innovative approach has significantly reduced ICU mortality rates by up to 40%, demonstrating Cloudphysician’s impact on healthcare efficiency and patient outcomes.
Rocketlane, a SaaS provider specializing in project delivery and professional services, has successfully raised $24 million in a Series B round, co-led by 8VC, Matrix Partners India, and Nexus Venture Partners. This funding boosts Rocketlane's total capital to $45 million, aimed at advancing AI integrations for enhanced customer feedback and project management. The startup, founded in 2020, is set to improve its PSA platform, introduce AI in client communications, and upgrade its customer portal. Expanding its scope, Rocketlane will invest in conversational AI and AI-driven templates to streamline project management and enhance service accuracy. Targeting mid-market and lower enterprise clients, Rocketlane plans U.S. expansion and a European market entry event in September, alongside appointing Rao Adavikolanu as CMO to propel its strategic growth and market presence.
Zyod, a tech startup based in Gurugram, has secured $18 million in Series A funding to expand its global reach in the fashion manufacturing industry. Led by RTP Global, with participation from existing investors like Lightspeed and Alteria Capital, the funding will propel Zyod’s expansion into over 40 countries. The startup's innovative ERP software has revolutionized production processes, optimizing operations across more than 80,000 Indian factories. With this new capital, Zyod aims to penetrate markets in Brazil and Australia, and explore under-tapped regions such as Africa and Scandinavia. The company also recently launched a mobile app to better serve long-tail and enterprise clients, enhancing customer engagement and operational efficiency.
British International Investment (BII) plans to invest an additional $300 million in India's electric vehicle (EV) sector over the next three years, as stated by Abhinav Sinha, MD and Head of Technology & Telecoms. BII has previously funded Mahindra's EV operations and startups like Euler Motors, Turno, and Battery Smart, aiming to expand its reach in EV manufacturing, components, and financing. Highlighting India's current 6% EV market penetration, Sinha sees significant growth potential, projecting a rapid increase. He emphasized the strategic importance of early-stage investments, typically between $5 to $10 million. Moving forward, BII is dedicated to advancing India’s electric mobility, with a focus on enhancing the industry's infrastructure and consumer adoption through investments across the EV value chain.
India's quick commerce market is experiencing unprecedented growth, with Zepto at the forefront. The rapid delivery startup has raised $665 million, boosting its valuation to $3.6 billion. This significant funding round underscores the sector's potential and investor confidence, with approximately 40% of the latest investment coming from new investors like DST Global and Avenir Growth Capital. Founded just three years ago, Zepto has become a major competitor to established players like Zomato’s Blinkit, Swiggy Instamart, and Tata Digital’s BigBasket. Zepto’s latest funding round was co-led by existing backers such as Glade Brook Capital and Nexus Venture Partners. With these funds, Zepto plans to expand its dark store network from 350 to over 700 by March 2025, and increase its team size to over 2,000 employees. This expansion will enhance Zepto's presence in both metro and non-metro areas, positioning it well in the competitive quick commerce landscape.
This Week in Startups 🌟 | Stay ahead with Entrepreneurship Studio as we bring you the latest and most exciting updates from the startup world. From groundbreaking funding rounds to innovative breakthroughs, we've got your weekly dose of entrepreneurial spirit right here.
Premium skincare brand Asaya, co-founded by Neeraj Biyani, has successfully raised Rs 12 crore ($1.5 million) in a seed funding round. Leading the investment were OTP Ventures and Huddle Ventures, alongside Eternal Capital. This financial boost will primarily support melanin-focused research and the expansion of Asaya's product range. Additionally, the funding will aid in broadening the brand's market presence through enhanced distribution channels and marketing efforts. Asaya, which launched in September 2023, has made significant strides in the skincare industry, offering a diverse range of products through major online platforms such as Nykaa and Amazon. With this new influx of funds, the company aims to escalate its consumer base from 20,000 to over 250,000 within the next year. This growth will be supported by increased investment in customer service and communication, ensuring a better experience for a rapidly expanding clientele.
Rockit, founded by Vedant Garg, raised Rs 6 crore in pre-seed funding from Sauce.VC and Rannvijay Singha. Sauce.VC, an early-stage investor, is helping Rockit identify market gaps and build a unique brand. Rockit aims for an omnichannel presence, starting in North India and expanding pan-India. Vedant Garg plans to cater to evolving Indian consumer preferences, especially in Tier II and III cities. Rockit's distribution legacy supports its growth. Rannvijay Singha and Yash Dholakia from Sauce.VC are excited about Rockit's potential, praising its early success and high-quality, affordable products.
This Week in Startups 🌟 | Stay ahead with Entrepreneurship Studio as we bring you the latest and most exciting updates from the startup world. From groundbreaking funding rounds to innovative breakthroughs, we've got your weekly dose of entrepreneurial spirit right here.
Proptech startup Landeed has announced securing strategic financing led by Paradigm Shift VC, though the amount remains undisclosed. The funds will be used to extend Landeed's product line and expand its workforce to support growth both in India and internationally. Previously, in January 2023, Landeed raised $8.3 million from Y Combinator, Draper Associates, and Bayhouse Capital.
Proptech startup Landeed has announced securing strategic financing led by Paradigm Shift VC, though the amount remains undisclosed. The funds will be used to extend Landeed's product line and expand its workforce to support growth both in India and internationally. Previously, in January 2023, Landeed raised $8.3 million from Y Combinator, Draper Associates, and Bayhouse Capital.
Ethereal Machines, a leading deeptech startup, has raised $13 million in a Series A funding led by Peak XV Partners and Steadview Capital, with contributions from Blume Ventures, Enam Investments, and Sandeep Singhal. The investment will fuel research and development and the creation of India's first multi-axis CNC controller. The firm also plans to initiate construction of its second 'Smart Factory' in Bengaluru, adjacent to the upcoming Foxconn facility.
In the rapidly evolving Indian startup landscape, securing the right funding is pivotal for turning innovative ideas into successful enterprises. This blog delves into various funding sources available to entrepreneurs, from bootstrapping and family support to venture capital and strategic investments. Each method is carefully analyzed to illustrate its potential benefits—such as maintaining control and gaining industry expertise—as well as its drawbacks, such as the risks of equity dilution and personal financial exposure. By understanding these dynamics, entrepreneurs can make strategic decisions that best suit their vision and operational goals, ultimately guiding their startups toward sustained growth and success in the competitive market.
Finsall, a BNPL startup specializing in insurance, has raised INR 15 crore in a bridge funding round led by Unicorn India Ventures and Seafund, supported by other institutional investors. The funding will enable the establishment of a Non-Banking Financial Company (NBFC) to expand lending operations and enhance customer value in insurance premium financing. The company also plans technological enhancements to improve interfaces for insurance companies and lending partners. These funds will also assist Finsall in forming strategic partnerships with insurers, intermediaries, and lenders, expanding its service offerings and distribution channels. CEO Tim Mathews highlighted the importance of this investment in scaling operations and pioneering in the insurance premium financing sector, aiming for substantial market growth.
Bhopal-based Swaayatt Robots has raised $4 million from U.S. investors, boosting its valuation to $151 million. This investment will further its development in autonomous vehicle technology. The company, led by Sanjeev Sharma, has made significant strides with its technology, already achieving Level 5 autonomy, which allows navigation through complex environments like construction sites. Swaayatt Robots is gearing up for a major demonstration in August, aiming to solve Level Four autonomy globally, and is eyeing further funding to reach its ambitious goals.
DocPlix, a health-tech startup, recently secured funding of Rs 1.2 crore from Inflection Point Ventures (IPV). The investment will fuel their product development, enhance AI capabilities, and broaden their market reach. Focusing on digitalizing health records in India, DocPlix aligns with the Ayushman Bharat Digital Mission to establish a secure and interoperable Electronic Health Record system. This expansion is particularly targeted at enhancing healthcare accessibility in tier-2 and tier-3 cities. Notably, DocPlix has achieved a high renewal rate of 93%, indicating strong customer retention and satisfaction.
This Week in Startups 🌟 | Stay ahead with Entrepreneurship Studio as we bring you the latest and most exciting updates from the startup world. From groundbreaking funding rounds to innovative breakthroughs, we've got your weekly dose of entrepreneurial spirit right here!
CHOSEN, a Chennai-based skincare startup founded by Dr. Renita Rajan, has raised $1.2 million in seed funding from friends and family, following a $100,000 equity-free grant from Peak XV Partners. This funding will enhance strategic expansion, including exploring B2B partnerships in sectors like hospitality and health. The company, known for safe and effective skincare, plans to introduce 12 new products and aims for pre-series funding of $10-20 million later this year. Currently, CHOSEN has a robust product lineup and a workforce of 130, projecting significant growth and scale in the coming fiscal year.
Testsigma, an Indian-founded AI-powered, low-code test automation platform, announced it has raised $8.2 million in a funding round led by MassMutual Ventures, with participation from previous investors Accel, STRIVE, and BoldCap. The company, which raised $4.6M in 2022, introduced new GenAI features to enhance QA team efficiency and unveiled a product for the Salesforce ecosystem. Founded in 2019 by Rukmangada Kandyala, Pratheep Velicherla, Vikram Chaitanya, and Rajesh Reddy, Testsigma aims to automate testing using natural language and generative AI.
Discover how LogicLadder, a trailblazer in climate action technologies, is ramping up its global presence with a $2.5 million investment led by BIG Capital and Rainmatter. With this funding, LogicLadder aims to refine its acclaimed Sustainability Cloud platform, helping leading firms like Maruti Suzuki and NTPC achieve crucial sustainability targets.
Indian badminton star PV Sindhu invests in and becomes brand ambassador for Greenday's "Better Nutrition" initiative. This collaboration tackles micronutrient deficiencies by fortifying staple crops with essential vitamins and minerals. Greenday partners with HarvestPlus Solutions to develop biofortified crops like rice and wheat. These efforts aim to improve public health and farmer income. Sindhu emphasizes the initiative's dedication to health and farmer support. Greenday highlights the importance of addressing nutrient deficiencies and sees Sindhu's involvement as a boost to awareness and market growth.
Gurugram-based healthcare company JiviAI has announced that its AI model, Jivi MedX, has outperformed giants like Google's Med-PaLM 2 and OpenAI's GPT-4 in the medical AI field. Achieving an impressive average score of 91.65 across nine benchmark categories, Jivi MedX is set to revolutionize medical diagnostics and patient care. Co-founded by Ankur Jain and G V Sanjay Reddy, JiviAI is driving forward with plans to launch Jivi MedX in August 2024, aiming to enhance healthcare outcomes through advanced AI capabilities. The startup is exploring partnerships to broaden its impact as it prepares for a global launch.
Country Delight is on the verge of becoming a unicorn with its latest $76.65 million funding, comprising debentures and convertible shares. With a valuation nearing $820 million, the company bolsters its expansive product line, serving 15 major Indian cities. This growth is backed by substantial investor confidence, marking a significant year with increased operating revenue and strategic expansions.
Rebel Foods has recently secured $13 million in debt financing from Alteria Capital and InnoVen Capital, further strengthening its position as a leading player in the cloud kitchen sector. This new funding round will support Rebel Foods in enhancing its technological capabilities and expanding its global presence, reinforcing its commitment to revolutionizing the food delivery ecosystem with its innovative business model.
This week's update from Entrepreneurship Studio showcases a vibrant series of funding activities and strategic expansions among Indian startups, highlighting the continuous growth and innovation within the sector. Sorin Investments, spearheaded by industry veteran Sanjay Nayar, has successfully closed its maiden fund at Rs 1,350 crore, aiming to catalyze early-stage tech startups. Concurrently, Sauce.vc has initiated its third venture fund targeting â‚ą250 crore to invest in consumer brands, reinforcing its commitment to nurturing emerging enterprises. In the mobility sector, Euler Motors has secured $24M to broaden its reach across India, supporting the adoption of sustainable transportation solutions. Additionally, DiFACTO Robotics and Automation is set to enhance its international footprint with a Rs 40 crore investment from Stakeboat Capital, which will enable further expansion of its robotic automation systems globally. Moreover, fitness tech startup Portl and agritech firm Fyllo have also received significant funding to advance their innovative solutions in fitness and agriculture respectively. Finally, TechEagle has raised seed funding to refine its drone delivery systems, emphasizing efficiency in rural and remote deliveries. This collective momentum underscores a robust investment landscape, promising substantial advancements in various sectors through technological innovation and strategic funding initiatives.
Vegapay, a burgeoning B2B fintech startup, has raised $5.5 million in equity funding led by Elevation Capital and supported by Eximius Ventures. This round will fund product enhancements, regulatory compliance, and team expansion, including software developers and engineers. The company, which streamlines financial processes for institutions, plans to introduce a new credit card and a UPI credit line solution in collaboration with major banks. With ambitions to expand globally and a target to achieve significant revenue and card issuance milestones by next year, Vegapay is positioned to innovate the credit systems of financial institutions.
The Skill India Digital Accelerator Program, an innovative partnership between T-Hub, NSDC, and HDFC's Parivartan Startup Grants, has achieved a significant milestone by concluding its latest cohort. This pioneering initiative is dedicated to boosting skill development and employability through the strategic support of startups that bring fresh, transformative solutions to the table. Focusing on inclusivity and technological integration, the program has empowered ten exceptional startups, ensuring they are well-equipped to enhance India’s skill development landscape. With an emphasis on practical tools and accessibility, these startups are now poised to make a lasting impact on the workforce, driving India towards a more skilled and future-ready nation.
As India's startup ecosystem navigates a challenging financial climate, BITS Pilani's Conquest accelerator stands out by empowering early-stage startups with essential resources and mentorship, fostering innovation and growth. Celebrating its 20th edition, Conquest continues to support promising entrepreneurs through a comprehensive, equity-free program, including a new Sustainability Track in collaboration with Pepsico India. Discover how Conquest is shaping the future of Indian startups and driving sustainable innovation in an increasingly competitive market.
Zypp Electric, an innovative Indian EV rental startup, is set to expand its operations into Southeast Asia early next year, backed by a recent investment from ENEOS. The company, which currently thrives in major Indian cities, plans to launch in markets like Indonesia, Thailand, and the Philippines, leveraging its robust platform that supports millions of deliveries each month. With a strong focus on both geographic expansion and fleet enhancement, Zypp Electric aims to accelerate its growth while eyeing further opportunities in the Middle East. This strategic expansion is supported by a significant funding round and a clear path toward profitability.
This Week in Startups with Entrepreneurship Studio. Stay ahead in the dynamic world of startups with Entrepreneurship Studio’s latest updates: New Fund Alert: ThinKuvate, a Singaporean investment firm, launches a Rs 100 crore fund to invest in tech startups across India, focusing on innovative, revenue-generating companies in cities like Nagpur, Bangalore, and Chennai. Tech Collaboration: E2E Cloud partners with Atal Incubation Centre to boost India's AI and deeptech sectors, providing cutting-edge GPU resources to help startups scale and innovate. Global Aspirations: Amazon India kicks off the fourth season of its Propel Global Business Accelerator, aiming to help consumer product startups reach international markets and contribute to India's growing e-commerce exports. Dive into these stories and more to discover the entrepreneurial ventures and innovations shaping India’s economic landscape. Explore the full details on our website!
ProsParity, an innovative electric vehicle financing platform, has successfully secured a $2 million pre-seed investment from renowned global and angel investors to enhance its technology and expand its market reach. The company, co-founded by Saurabh Khodke and Anirudh Dhakar, is setting a new standard in EV financing by simplifying access for dealers and OEMs and aiming for significant growth in asset management. With an ambitious goal to democratize EV financing and support India’s transition to electric mobility, ProsParity is poised to transform the EV financing landscape, leveraging its unique platform and strategic partnerships.
