Venture Spotlight

Welcome to our fortnightly newsletter where we share news, insights, and trends shaping the startup ecosystem!

Exploring Recent Startup Investment Trends

LogicLadder Raised $2.5M for additional product offerings

LogicLadder, an enterprise software startup for sustainability management, has raised of $2.5 million in its Series A round. The round was led by BIG Capital and saw participation from Rainmatter and a few existing investors. It offers a platform that assists enterprises in tracking ESG parameters and generating sustainability reports.

The platform aligns with global ESG standards such as GHG Protocol, SBTi, and GRI, to name a few. The newly raised capital will be utilized to expand its footprint in South Asia and North America and to enhance its product offerings.

Discover more about it here

Testsigma Raised $8.2M to Enhance Test Automation with GenAI

Testsigma, an automated testing company, raised $8.2 million in its extended Series A round led by MassMutual Ventures, with participation from existing investors - Accel, STRIVE, and BoldCap.

Founded in 2019 Testsigma provides end-to-end testing solutions for websites, native Android and iOS apps, and APIs using simple English. The fresh capital will be used for product engineering and accelerating the integration of Generative AI into its platform.

Click here to delve into the details

iPiD Secures $5.3M to Enhance Global Payment Security

iPiD (International Payment Identity) raised $5.3 million in a pre-Series A round led by Monk’s Hill Ventures, with participation from QED Investors, Quona Capital, and a few existing investors. Founded in 2021 iPiD provides payee verification and identification solutions to enhance the security and convenience of global payments.

Their flagship product, Validate, confirms payee names and bank account details to combat authorized push payment fraud and improve customer experience. The funding will help them accelerate efforts to enhance payment security globally, keeping a focus on Europe and Asia.

You can get detailed insights here

Ethereal Machines Secures $13M to Expand Precision Manufacturing

Ethereal Machines raised $13 million in Series A round co-led by Peak XV Partners and Steadview Capital with participation from existing investors. Ethereal Machines specializes in manufacturing aerospace, medical, and consumer electronic components with a focus on building proprietary multi-axis computer numerical control (CNC) machines.

The company is known for its proprietary multi-axis computer numerical control (CNC) machines and rapid prototyping capabilities. The fresh capital will enable Ethereal Machines to enhance R&D initiatives, expand production capacity, and position India as a global leader in precision manufacturing.

Read more about it here

Portfolio News & Updates

Discovering Sequretek Founder’s Journey with a Podcast

Pankit Desai the Co-founder and CEO at Sequretek , one of our portfolio companies, shares his journey on the Scale Adventure Podcast. He begins with a brief introduction about himself and a sneak peek into his early days after college.

His corporate journey began as he worked with CMC, IBM, Cognizant, and then in Wipro following the traditional pathway of working as an employee which used to be a norm in middle-income families. While working with Intelligroup, he got the opportunity to transform a loss-making, indebted business into a profitable one.

He was assigned the sales and marketing functions of a given region. He grabbed this opportunity and played an instrumental role in turning the company from a loss-making entity into a profitable one and gradually driving its valuation from $14 million to $200 million at which it was acquired.

This experience helped him in his journey of building and scaling Sequretek.

Checkout the Podcast here

Growit India Empowers Women Farmers with Training

Growit India partnered with FICCI Flo Mumbai, Kalpana Saroj Foundation, Intercont+, and SHED to conduct a Farmers' Training Program specifically aimed at empowering women in agriculture.

The program objective was to equip women farmers with the right knowledge and skills to succeed in agriculture. About 60 dedicated women farmers participated in the program.

Key Training Areas:

Soil Health: Participants learned techniques like composting, cover cropping, mulching, and soil testing to improve soil quality and fertility.

Water Management: The program covered efficient irrigation methods like drip irrigation and rainwater harvesting, with strategies for selecting drought-resistant crops.

Pest Management: Farmers were introduced to natural pest control solutions using beneficial predators and organic methods.

Climate-Smart Practices: The training addressed techniques which included using row covers, shade netting, and staying informed about weather warnings to adapt to changing climatic conditions.

Post-Harvest Handling: Participants learned proper drying, storing, and packaging techniques to minimize post-harvest losses and maximize profits.

The event was a part of Growit India's vision of revolutionizing the agricultural sector.

Ideas in Focus: Our picks from Emerging Trends

?? 7 Game-Changing Startups Tackling Climate Change ??

The fight against climate change demands innovation, creativity, and bold action. We curated a list of seven innovative startups across the globe that have emerged with disruptive and groundbreaking solutions that blend technology, sustainability, and ingenuity. Here’s how they’re making an impact:

1. Carbon Clean Solutions (India)

?? What They Do: They develop cost-efficient carbon capture technology.

?? Unique Offering: One of their key innovations is the APBS-CARBex solvent which reduces the energy required for carbon capture.

?? How It Works: Their modular carbon capture units can be easily integrated into existing industrial facilities to capture carbon dioxide emissions from industrial sources and repurpose them for chemicals, fuels, and building materials.

?? Climate Impact: Significantly reduces industrial greenhouse gas emissions, making heavy industries more sustainable.

Discover more about them here

2. Solar Foods (Finland)

?? What They Do: They produce protein from air and electricity.

?? Unique Offering: Their innovative approach uses air, electricity, and microorganisms to create a nutrient-rich protein powder called Solein, which can be used as an ingredient in various food products.

?? How It Works: The process involves extracting carbon dioxide from the air and combining it with water and nutrients through a bioprocess powered by renewable energy. This process involves fermenting hydrogen-oxidizing bacteria, resulting in a nutrient-rich protein that can be used in various food products.

?? Climate Impact: By decoupling food production from agriculture, Solar Foods drastically reduces land use, water consumption, and greenhouse gas emissions associated with traditional farming.

Want to know more? Click here

3. Cruz Foam (USA)

?? What They Do: They develop biodegradable packaging solutions.

?? Unique Offering: Cruz Foam creates eco-friendly packaging materials from chitosan, a biopolymer derived from shrimp shells and other crustaceans, to create its sustainable foam products

?? How It Works: The production process of Cruz Foam is designed to be environmentally friendly, utilizing non-toxic and biodegradable inputs with properties similar to traditional polystyrene foams making it an excellent alternative for various packaging applications.

?? Climate Impact: Their sustainable packaging products are biodegradable and reduce the reliance on petroleum-based plastics, decreasing waste in landfills, and minimizing the overall carbon footprint of packaging materials.

Discover more here

4. Notpla (U.K.)

?? What They Do: They develop natural, biodegradable packaging from seaweed.

?? Unique Offering: Notpla’s innovative products, such as edible water pods and biodegradable film, are made from seaweed and other plants.

?? How It Works: The seaweed-based materials can be used for multiple packaging solutions that decompose naturally and are ideal substitutes for single-use plastic bottles. Their seaweed-based coating can be applied to cardboard and paper packaging, making it water-resistant and compostable.

?? Climate Impact: By providing an alternative to single-use plastics, Notpla helps mitigate the environmental impact of plastic waste and supports a circular economy.

Want to know more? Click here

5. Graviky Labs (India)

?? What They Do: They convert air pollution into usable ink.

?? Unique Offering: Their product, Air-Ink, captures particulate matter from vehicle emissions and transforms it into high-quality ink for art and industrial use.

?? How It Works: Graviky Labs’ technology captures carbon soot from pollution sources using their proprietary technology, Kaalink. The collected carbon undergoes purification to remove heavy metals and toxins, giving a high-quality pigment used for producing various types of ink, including markers, screen printing ink, and more

?? Climate Impact: By turning pollution into a resource, they reduce the amount of harmful particulates in the air and promote sustainable practices in industries like printing and packaging.

Delve into details here

6. Cancrie (India)

?? What They Do: They create nanocarbon from coconut shells.

?? Unique Offering: Sustainable nanocarbon materials for various industrial applications.

?? How It Works: Their proprietary technology ensures that their conversion process is energy-efficient and environmentally friendly. The nanocarbon produced is ideal for use in high-performance batteries and supercapacitors, offering a sustainable alternative to traditional materials.

?? Climate Impact: They utilize agricultural waste, reducing carbon emissions and promoting circular economy principles.

Discover more about them here

7. Thenga (India)

?? What They Do: They convert coconut shells into eco-friendly products.

?? Unique Offering: Sustainable tableware, cutlery, and home decor items made from discarded coconut shells.

?? How It Works: They repurpose coconut shells that would otherwise be discarded, reducing the volume of waste into durable and attractive products, providing an alternative to plastic and metal items.

?? Climate Impact: They Reduce waste, promote recycling, support a more sustainable lifestyle, and contribute to a circular economy.

Find more details here

These startups are not just addressing climate change; they’re redefining how we use resources and think about sustainability. Their innovative technologies and unique approaches are making a real difference, offering scalable solutions to some of our planet's most pressing challenges.

? 2024 GVFL Limited