[Funding roundup] Ecozen, Rooba Finance, Innovist, Yatrikart, TESSOL, MicroGO and Kytchens raise capital
Climate-smart startup Ecozen raises first batch of Series C funding led by Dare Ventures
Climate-smart technology startupRaised Rs 54 crore of the additional financing as part of the first installment of the Rs 200 crore Series C round of planned. The new funding round was led by Dare Ventures, the venture capital arm of Coromandel International, with participation from existing investors Caspian and Hivos-Triodos Fonds (operated by Triodos Investment Management) through equity.
Northern Arc, UC Inclusive Credit, Maanaveeya and Samunnati were also involved in debt financing. Early investors in Ecozen include IFA and Omnivore.
Ecozen develops climate-smart deeptech solutions and core technology suites to deliver a sustainable future, including motor controls, the Internet of Things, and energy storage. Applying these technological stacks to the agricultural sector, Ecozen claims to have revolutionized the cold chains (Ecofrost) and the irrigation industry (Ecotron), improving the incomes of more than 100,000 farmers and enabling the generation of more than 1 billion units of clean energy (kWh). Headquartered in Pune, Ecozen was established on campus by three IIT Kharagpur alumni of IIT Kharagpur Devendra Gupta, Prateek Singhal and Vivek Pandey.
Institutional Crypto and Digital Asset Management Platform Rooba Finance Raised $1.3 Million in an IPV-led Initial Round
Enterprise digital asset management and crypto platform Inflection Point Ventures. The round also saw participation from LetsVenture, Endurance Capital, KubeVC and other notable angel investors. The funds raised will be used to develop the platform, create an offshore licensed platform, and enable global GTM.Raised $1.3 million in an initial round led by
Rooba’s full-stack, self-custodial digital asset management platform helps organizations, family offices, HNI owners, hedge funds, and more to securely hold their digital assets through the Threshold Multi Party-based custodian network, and create trading strategies with a wide range of Defi applications, Layer 1 protocols, Derivatives, etc., all from one convenient dashboard.
Innovist raises $3.5 million in Pre-Series A round led by Accel Partners and 72 Ventures
Onesto . Laboratoriesrenamed as, the parent company of Gurugram-based hair brand D2C Bare Anatomy, Chemist at Play (India’s first ceramide-based skincare brand), and SunScoop (the only sunscreen brand) raised $3.5 million. The Pre-Series A funding round was led by existing investors Accel Partners and 72 Ventures.
Other current investors are Sauce (Manu Chandra), Arihant Patni (Patni Family Office), and new investors are Jani Ventures Inc, Nihir Parikh, Rashmi Kwatra (Sixteen Street Capital), Kunal Shah (Cred), Alok Mittal and Shripad Nadkarni (Maverix Platforms & Maverix Platforms). & Fingerlix) too.
Innovist said it will use the newly injected capital to further strengthen the company’s research and development capabilities, marketing, staffing and distribution channels.
Rohit Chawla, Founder and CEO of Innovist said, “The Innovist name was coined after we decided to rebrand from Onesto because we are a platform driven by science and innovation, and we wanted the name to reflect that. The journey so far has been amazing. We are grateful to our investors for their renewed belief in us and for keeping pace with Our vision has always been. Their relentless support has helped lay a strong foundation upon which we build our success. With the new capital, we are confident that we can significantly enhance our infrastructure and achieve further growth.”
Technology-backed retail chain Yatrikart has raised $450,000 in an initial round
They call themselves Bharat KWH Smith, yatrekart It raised $450,000 in an initial round of digital platform Shuru-Up and the Artha Venture Fund.
Yatrikart is a technology-driven retail chain that empowers small entrepreneurship by empowering street vendors and retailers in transit stations and creating a new retail format-Retail on the go. Yatrikart aims to open more than 100 new formats by 2023 and will use this investment to expand its infrastructure, improve technology, and hire talent.
Yatrikart started its commercial operations in October 2021 and has experienced exponential growth since then. Today, it has more than 25 stores and vans, serving millions of customers annually at railway stations, bus stops, taxis and highways. Stores and layouts are designed to meet the travel needs of customers as the startup has become the trusted source for travel essentials.
Commenting on the investment, Team Shuru-Up said, “We believe it is very difficult to find a startup that solves a problem that everyone in the world faces. After meeting co-founders Gaurav Rana and Shivangee Sharma, it didn’t make sense to join them on their journey solving a business problem. transient fragmentation”.
Cold Chain Solution Provider, TESOL Raises Rs 7.5 Crore From Mela VenturesEx
And the A globally recognized Indian cold chain solutions provider aiming to solve the last mile distribution problem, has raised Rs 7.5 crore from Mela Ventures. Existing investors 1crowdAngels and 1Fund also participated in this round.
The funds raised will be used for geographic expansion, capacity building, team building, new products, and application development.
The journey of the Mumbai-based startup is interesting as it focused on its biggest sore point, which was the futility and unreliability of the cold chain in the last mile in India, into a great opportunity for itself and its associated partners.
Commenting on the financing, Rajat Gupta, Founder and CEO of TESSOL, said, “The pandemic has led to a sudden increase in demand for the last mile cold chain of food and medicine globally. Having established our position as the market leader in India, now is the time to invest in expanding our solutions globally and planning our puzzle in new areas of application. We will invest in further strengthening our in-house R&D and application engineering capabilities and build the foundation to be a world leader in this field.“
Image source: TESSOL
Alumni Ventures Joins Innoviti’s Series D Fundraising Series
Alumni Ventures, one of the world’s most active venture capital firms with over 1,000 portfolio companies and over $1 billion in assets under management, has joined Innoviti’s Series D round, taking funds raised in Series D to Rs 160 crore. ($22 million).
Alumni Ventures owns money from graduates of MIT, Harvard, Princeton, Yale, Stanford, and other top American universities. Its network and community are the secret sauce to identifying top-notch opportunities around the world.
Innoviti carried out a second closing of Rs.75 crore from FMO NV, a development finance bank, from the Netherlands in May 2022. With graduates joining the cap table, Innoviti has raised Rs.160 crore in Series D so far. The company will raise another Rs 140 crore over the next few weeks towards the final closing of the Rs 300 crore Series D round.
Biotech company MicroGO raises Pre-Series A funding of Rs 6 kroner from angel investors
biotechnology companyA leading provider of smart and sustainable hygiene and infection control solutions, it has raised Rs 6 crore in Pre-Series A funding from angel investors in Kolkata. The funds will be used primarily to enhance MicroGO’s sales and marketing activities.
With the aim of solving water, sanitation and hygiene (WaSH) challenges through R&D-based manufacturing, MicroGO began its innovation journey in 2016, piloting its technologies with core customers in 2020, and commercializing products in 2022.
MicroGO aims to provide its customers with comprehensive hygiene and infection control solutions through innovative technologies that advance the right science, provide profitability and environmental sustainability. MicroGO holds patented platforms that have been granted patents in less than 90 days – one of the fastest granted patents in India.
Kytchens has raised Rs.6.5 in equity from Anicut Capital, other investors
a full-stacked “Kitchen as a Service” platform, raised Rs 6.5 crore in Pre-Series A round led by Anicut, backed by angel investors, including Anand Ladsariya, Bharat Jaisinghani and Neeraj Goenka, among others.
Kytchens said the funding will enable her to build a strong and agile team with the right skill sets and capabilities to accelerate its growth in the Indian market. In addition, the cloud kitchen service provider will aim to expand its footprints across Mumbai, nearby cities such as Pune and Nashik in Maharashtra, and across tier two markets in southern Gujarat.
Furthermore, Kytchens will allocate funds towards materializing its services as a strategic partner in enabling the growth of food and beverage brands through a robust managed cloud kitchen network consisting of Central and Delivery Kytchens strategically located for maximum reach.