The Weekly Startup Funding

Welcome to the latest edition of the Grizmo Labs newsletter, where we bring you the most recent funding updates from the startup world. This edition will cover ten innovative companies that have successfully secured funding to fuel their growth and revolutionize various industries. From EV financing platforms to AI-powered edtech startups, these companies are making waves and attracting investments from prominent venture capital firms. Read on to discover the latest developments and funding amounts for each of these remarkable startups.

1.EV Financing Platform FINAYO Secures Seed Funding (Undisclosed): Finayo, an AI-powered low-cost lending tech platform focused on the electric vehicle (EV) space, has recently secured seed funding from undisclosed sources. Finayo aims to address the challenges faced by lenders in the EV sector, particularly those related to non-performing assets (NPA) and risk mitigation. With this funding, Finayo plans to invest in cutting-edge technologies that minimize NPA risks and create a stable and inclusive financial ecosystem.

2. ToolJet Raises $4.6M in Pre-Series A Funding: ToolJet, a San Francisco-based open-source low-code application development platform, has successfully raised $4.6 million in a pre-Series A funding round. With the support of January Capital, Ratio Ventures, Better Capital, and angel investors like Nicolas Dessaigne, Rohith Salim, and others, Nexus Venture Partners led the funding effort. ToolJet empowers companies to build custom internal business applications without extensive coding, allowing seamless integration with various data sources and services.

3. 50Fin Raises $525K in the Pre-Seed Round Led by 100X.VC: Financial technology platform 50Fin has secured INR 4.25 crore ($525,000) in a pre-seed funding round. The funding was co-led by 100X.VC, Keynote Capital, and Arun Venkatachalam, with participation from prominent investors in the Indian startup ecosystem. 50Fin offers instant loans against mutual funds and shares, streamlining the loan process and eliminating the need for physical documents and credit checks. The company aims to integrate its platform with leading asset management companies and disburse INR 100 crore in loans by the end of the current financial year.

4. ZestMoney Raises Funding From Quona Capital: Fintech startup ZestMoney has recently secured $5 to $7 million in funding from investors, including Quona Capital, Zip, Omidyar Network India, Flourish VC, and Scarlet Digital. ZestMoney, a Bengaluru-based company, offers zero-interest installment payment options to users, competing in the national "buy now, pay later" (BNPL) market. The funding will support ZestMoney's operations and its new leadership team, enabling the company to continue providing convenient payment solutions to its customers.

5. Smartstaff and Three Others Raise Early-Stage Funding: Smartstaff, a blue-collar workforce management platform, Vegh, an electric vehicle maker; Frigate, a manufacturing platform; and 50Fin, a fintech startup, have all secured early-stage funding. Smartstaff raised $6.2 million in a Series A round from existing investors Nexus Ventures, Arkam Ventures, Blume Ventures, and new investor Alteria Capital. Vegh, Frigate, and 50Fin also received funding to fuel their expansion plans and product development efforts.

6. Generative AI-Powered Edtech Startup ZuAI Bags Funding: Prime Venture Partners led a seed funding round that raised INR 4 crore for ZuAI, a Bengaluru-based generative AI startup with a focus on individualised learning solutions. ZuAI aims to offer adaptive and effective learning experiences to Indian students, and it plans to expand its services to more than 100 million students in the next three years. The startup is committed to empowering students through innovative tools and plans to introduce additional features like adaptive test series.

7. Smartphone Retail Chain SmartDukaan Raises $10M in Pre-Series A: Findoc Finvest Pvt. Ltd. led a pre-Series A funding round in which SmartDukaan, a smartphone retail chain, raised $10 million. The funding will be utilized for franchise partnerships, enhancing technology infrastructure, expanding product offerings, and talent acquisition. SmartDukaan aims to become India's largest mobile retail network, digitizing and empowering retailers while inviting aspiring entrepreneurs to join a profitable mobile retail business.

8. Animal Nutrition Firm eFeed Life Science Gets Infusion From Omnivore: eFeed, an animal nutrition and healthcare firm, has secured seed funding of $1 million from venture capital firm Omnivore. The funding will be used to strengthen eFeed's research and development operations, expand its farmer network, and accelerate hiring. eFeed aims to revolutionize the animal nutrition industry with innovative solutions that improve the health and well-being of livestock.

9. Manufacturing Startup FRIGATE Raises Seed Round Under Arali Ventures' Leadership: Arali Ventures led a seed round of $1.5 million that Frigate, a manufacturing startup in Tamil Nadu, raised. The funds will be used to expand Frigate's digital manufacturing ecosystem and cater to its global customer base. Frigate specializes in providing comprehensive manufacturing services to companies in the new energy and power, infrastructure, EV, and automotive industries. The startup aims to support overseas customers looking to establish manufacturing bases in India.

10. Webmob (2015), Seed: WebMobTech Solutions Pvt. Ltd. , a provider of blockchain development and consulting services based in Mohali, raised seed funding in 2015. The company has been at the forefront of blockchain technology, delivering innovative solutions to clients in various sectors.

These ten startups have successfully secured funding to fuel their growth and innovation across diverse industries. From revolutionizing lending in the EV space to simplifying application development and transforming education, these companies are at the forefront of technological advancements. We're excited to see how they leverage their funding to make a lasting impact on their respective sectors.

Stay tuned for more updates and inspiring stories from the world of startups in our next newsletter!

Remember to visit the Grizmolabs website for the latest updates on emerging startups and technology trends.

?Grizmo Publications