Agritech startup DeHaat raises $ 115 million in Series D funding round led by Sofina, Lightrock India
Startup Agritech DeHaat has raised $ 115 million in Series D funding, led by Belgian investment firm Sofina and Lightrock India. Temasek co-invested in the round, with participation from existing investors Prosus, RTP Global, Sequoia Capital India and FMO. The startup said it will use the funding to expand its technology offerings, for value-added services and people.
The startup claims to have built a rural retail network of over 3,000 DeHaat microentrepreneurs for last mile delivery as well as aggregation, serving over 650,000 farmers located in Bihar, UP, Jharkhand and Odisha. The company has now started to expand to new geographies like MP and Rajasthan with multiple agricultural services for farmers.
“The last 7 months have been phenomenal with growth multiplied by 5 for DeHaat. Therefore, we are now well positioned to replicate success in all of India’s major agricultural clusters over the next 12-15 months, ”said Shashank Kumar, co-founder and CEO of DeHaat. DeHaat is a business-to-farmer (B2F) technology platform that offers comprehensive agricultural services, including distribution of high-quality agricultural inputs, personalized farming advice, access to financial services, and business links to sell. their products.
Fintech startup Zolve secures Rs 300 crore; valued at Rs 1,575 crore
Cross-border fintech platform Zolve has raised Rs 300 crore (around $ 40 million) in a funding round led by DST Global. Tiger Global, Alkeon Capital, along with existing investors Accel and Lightspeed Venture Partners also participated in Series A. This round of funding pushed the 10-month-old startup’s valuation to Rs 1,575 crore.
The funding will help the company expand the product line and increase recruitment and technology, Zolve founder and managing director Raghunandan G said in a statement. Zolve provides immigrants, working professionals, and students to the United States with access to FDIC-insured bank accounts, high limit credit cards, and debit cards, without the need for an SSN ( social security number) or U.S. credit history. The company is on its way to becoming a full-fledged financial services provider and focusing on products such as instant remittances, insurance and loans, he said.
Healthtech BlueSemi start-up pockets $ 69 million ahead of IPO
The start-up Healthtech Bluesemi has announced a funding commitment of 69 million dollars (approximately Rs 515 crore) from Luxembourg’s GEM Global Yield.
In accordance with the signed agreement, the amount will be provided on a shared subscription facility for a term of 36 months following a public listing of the common shares of BlueSemi.
The startup said it will be able to determine the timing and maximum amount of drawdowns under this facility, with no minimum obligation. Under the shared subscription facility, BlueSemi will issue warrants to GEM to purchase its common shares upon IPO (initial public offering) up to 7.8% of its total holdings for three years, which will be subject to a lower $ 120 million floor valuation cap, the startup said in a statement.
BlueSemi plans to use the funding to launch its flagship consumer health technology product – a revolutionary, non-invasive device that analyzes six key vital elements such as blood sugar, ECG, BP, HR, SPO2 and temperature in just 60 seconds.
D2C R brand for Rabbit gets Rs 40 crore from Xponentia Capital Partners
Baby products brand D2C R for Rabbit bagged Rs 40 crore from private equity firm Xponentia Capital Partners. The new capital will be used to strengthen the brand, large-scale distribution and domestic market operations, improve the existing product portfolio and introduce new product categories, the company said in a statement. R for Rabbit is present throughout India and offers a diverse range of baby products including baby gear, carriers, breastfeeding, activity and bath toys, among others.
“Over the past seven years, we have successfully built a solid base of 1.5 million loyal customers. With this funding, we aim to strengthen our brand, increase our reach to consumers and enter new product categories, ”said Kunal Popat, Founder, R for Rabbit. The startup aims to record an annualized income rate of around Rs 100 crore in the current fiscal year (FY 22) through both online and offline channels.
Instoried raises $ 8 million in funding from Pritt Investment Partners & 9Unicorns
Artificial intelligence-based content intelligence platform Instoried has raised $ 8 million in funding from Pritt Investment Partners and 9Unicorns with participation from Mumbai Angels, Venture Catalysts Angel Fund, SOSV and a few HNIs. The funds will be used to further strengthen the technology stack, enter new geographies and expand the team and operations, the company said.
The startup is looking to expand its operations in the United States. Instoried said it uses OpenAI’s GPT-3 technology along with built-in proprietary AI to help businesses achieve their optimal content goals. The company has already raised $ 2 million from investors such as SOSV, Artesian Investments, Mumbai Angels, 9Unicorns, Venture Catalysts and Rockstud Capital.
Staircase AI raises $ 4 million in Seed Round
Relationship intelligence firm Staircase AI raised $ 4 million in a funding round. The company received funding from Disruptive AI, a startup venture capitalist specializing in artificial intelligence (AI), and StageOne Ventures, a venture capital fund focused on solving the challenges of large companies.
The startup said the investment would be used to evolve its engineering and accelerate market plans. Staircase AI uses advanced machine learning to analyze thousands of digital engagements between businesses and their existing customers.
Fintech Hypto platform secures $ 3 million seed fund
Technology infrastructure platform Hypto has raised $ 3 million in seed funding led by Stellaris Venture Partners. 3one4 Capital, Core 91 and angel investors including Amrish Rau (CEO, Pine Labs) and Jitendra Gupta (CEO, Jupiter) also participated in the round.
The startup will use the funding to expand its tech team and build web services for new financial use cases for tech companies, the company said. Hypto provides back-end technology infrastructure as a service to developers who create solutions for financial use cases.
It launched its first stack that supports the payment infrastructure in March 2020. The startup claims to have accumulated over 55 million transactions totaling over $ 15 billion and currently works with more than 10 banks.
Enterprise software startup OSlash secures $ 2.5 million in seed funding
Enterprise software startup OSlash has raised $ 2.5 million in seed funding led by Accel Partners. The pre-Series A funding round also saw the participation of Dylan Field, CEO and founder of Figma; Akshay Kothari, COO of Notion; Girish M, CEO of Freshworks; and other senior executives from Quora, Stripe, and Airtable.
With this new investment, the company plans to attract new talent and present to the world its vision of seamless access and sharing of information within an enterprise for supercharged productivity, the company said. .
OSlash is a business productivity tool that enables every employee to access the right information and the right resources within the company in the fastest possible way in a frictionless environment. The company claims to have extended its reach to 1,000 teams, including those of “Retool”, “Notion” and “Postman”.
Auto parts B2B startup Koovers secures $ 1.5 million
Auto-parts startup B2B Koovers raised $ 1.5 million, led by Inflection Point Ventures, JPIN-VCats and Venture Catalysts. The funds raised will be used to enter more regions across India, expand the products, the portfolio and upgrade its technology platform, the company said.
Koovers provides spare parts workshops with ease of ordering, home delivery, an authentic and complete basket of spare parts from all car manufacturers. The startup claims to have more than 5,000 workshops in the network and has seen 100% year-over-year growth despite the Covid lockdown, with an average revenue rate of $ 4.5 million.
Food start-up The State Plate raises pre-seed funds from Antler India
Indian regional food platform The State Plate has raised undisclosed capital as part of a pre-seed funding round from Antler India. Since its inception, the company claims to have delivered over 35,000 orders to customers across India from their inventory of over 500 products in 9 Indian states.
The platform said it was growing by more than 45% month over month, with 50% of total customers returning for repeat purchases. “We will be doubling down on our private label strategy over the next few months and seeing it as a big part of our long-term platform game,” said Muskaan Sancheti, co-founder of The State Plate.
The startup said it recently launched its private label, which currently covers 14 new products from different parts of the country. The team plans to expand The State Plate’s white-label offering to more than 500 unique products by the end of 2022. The State Plate said it aims to address the Pan-Indian accessibility of regional cuisine. by creating a platform of regional specialties from all over the country. .
The company will also use the funds to expand its team in the areas of design, marketing and sourcing. With a heavy emphasis on storytelling, pricing and curation, the startup said it aims to disrupt a massive but nascent niche within the F&B segment.