The Weekly Startup Funding in India

Here is the latest issue of our weekly newsletter, in which we'll be covering the most recent developments in startup fundraising. We have some good news to report this week.

#1. Inker Robotics , An early-stage VC firm, AHK Ventures, has led a $1.2 million pre-series A financing for Inker Robots. Inker Robotics will use the funds to improve its training delivery platform, which will help spread knowledge about robotics and other cutting-edge technologies to the masses. Rahul Balachandran and Amith Raman launched Inker Robotics in 2018 to create a more interactive, hands-on, and relevant educational experience for students. Their robotics lab is 4,000 square feet, and they boast 80 experts working there. Its research and development team has also created ALTON, which it claims is the world's first modular training robot made to provide an all-encompassing education in robotics.

#2. SpotDraft , an AI-powered Contract Lifecycle Management (CLM) solutions provider for high-growth companies and scaleups, has closed $26 million in Series A funding. Customers like Airbnb, Notion, Panasonic, Strava, and Chargebee have benefited from SpotDraft's Contract Lifecycle Management (CLM), which has processed over 1 million contracts and eliminated 1.5 million hours of manual paperwork. The company has chosen North America as a critical market as it plans to use the fresh capital to invest heavily in product development and rapid expansion in the region. Baring Capital has led an investment round of $1.8 million in a cloud gaming platform.?

#3. OnePlay . Many angel investors, including CRED's Kunal Shah, Jupiter's CEO Jitendra Gupta, PlaySimple Games' Suraj Nalin, and Gupshup's CFO Amit Shrivastav, participated in the round led by Inflection Point Ventures. CEO and co-founder Harshit Jain has stated that money would increase hardware R&D and optimise the company's video encoding and decoding technologies. The funds will expand the team and broaden the range of services. The OnePlay platform is a free and open-source cloud service that lets users broadcast video games to other users. Users can enjoy games on the website without investing in a dedicated gaming computer.

#4. GIVA , a firm specialising in silver jewellery, has raised $4.9 million from venture debt fund Alteria Capital. The funds will fuel channel growth and broaden the company's impressive selection of handcrafted jewellery.

#5. Probus Group , An Internet of Things (IoT) communications and data analytics startup called Probus Smart. It has raised $3 million from Unicorn India Ventures to develop its Smart grid applications. Existing investors also participated in this round. The money raised will go into improving product R&D, developing the staff, and expanding GT's operations.

#6. GrayQuest has raised a $7 million Series A investment in a fintech firm. Family investors like the Weizmann Group, the Telama Family Office, and Apurva Parekh joined the round, led by Pravega Ventures (Pidilite Family Office). Prominent entrepreneurs such as Kunal Shah and Miten Sampat (CRED), Anupam Mittal (Shaadi.Com), David Piexoto (Isaac), Sujeet Kumar (Udaan), Abhishek Goyal (Traxcn), Nitin Gupta (UNI), Pravin Jadhav (Raise Financial Services), Aakrit Vaish (Haptik) and Dhyanesh Shah & Revant Bhate (Mosaic Wellness) also joined the funding round. With funds GrayQuest to expand the company's product line and increase its visibility in the global educational market.

#7. Mintifi , In a Series D funding round headed by Premji Invest and includes participation from existing investors Norwest Venture Partners, Elevation Capital, and International Finance Corporation, the supply chain finance platform Mintifi raised $110 million (IFC). With this capital injection, Mintifi expects to increase its capital base to $600 million. A dealer management system and business-to-business (B2B) payments are among the areas where the Mumbai-based firm will benefit from this investment. It will expand its footprint in other key markets. To "increase engagement across the supply chain network," it plans to invest in "an ecosystem of end-to-end fulfilment solutions" and improve its existing technological infrastructure.

#8. ZETWERK , a B2B contract manufacturing platform, has reportedly raised INR 100 Cr in debt capital from Edelweiss Group, another fund, and other high net-worth individuals (HNIs). The decision to pursue debt funding comes just before the unicorn plans to launch a new equity round. Zetwerk intends to use the new money to increase its access to financial markets, make new acquisitions, and expand the company.

#9. Pidge , an early-stage startup, was provided $3 million in pre-Series A financing by mountain partners. The logistics platform Pidge, based in Delhi NCR, has secured USD 3 million in pre-Series A fundraising, led by the European VC firm Mountain Partners and including participation from previous investor Indian Angel Network. The new capital will grow the firm's logistics software as a service offering.

#10 Funngro , The seed fundraising round for Funngro, a platform that helps teens make money through freelance work, totalled $500,000. First Cheque pushed this investment round forward, with help from Titan Capital and some angel investors. With this funding, we can introduce new projects to young people and grow the platform.

? Grizmo publication

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