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A Fruit Snack Startup Raises Funds from Mumbai Angels Network & Others

13Sep By Gauri SinghNo Comments

FUNDING

A Fruit Snack Startup Raises Funds from Mumbai Angels Network & Others

Pune-based fruit snack company Frubites which is owned by Rev Snacks has raised an undisclosed amount of funds in a fresh funding round from Mumbai Angels Network and others. The company is planning to use these funds to strengthen the brand, expand distribution as well as expand product offerings across vegetables, nuts, and fruit. “We are looking to scale up this model rapidly by being present across as many points of sales as we can target through modern trade and online channels,” said Bharat Kulkarni, co-founder of Rev. Founded in 2018 by Bharat Kulkarni and Rohit Kulkarni, Rev produces ready-to-eat snacks by the help of freeze-drying technology that retains the flavour and nutrients of the fruit. The foodtech space is recently gaining a lot of attention and these companies ar...

12Sep By Gauri SinghNo Comments

FUNDING

Pune-based Fintech Startup Secures $1.1 million in Seed Funding

Pune-based fintech startup Bon has reportedly raised funds amounting to $1.1 million (Rs 7.8 crore) in seed funding. The particular round was led by Omidyar Network, Axilor Ventures and Better Capital’s AngelList India Syndicate. The funds raised by the company will be utilized towards helping the company’s further partnerships with banks, non-banking financial companies (NBFC). Also, it plans to expand its existence to 25 cities across India over the next 18 months and launch its operations in other markets in Asia as well. “Access to working capital is a real pain point for the growing gig workforce—one that can literally make or break a business of one. In India, where credit cards are not pervasive, this issue is even more prominent, as people don't really have a safety net to rely...

12Sep By Gauri SinghNo Comments

FUNDING

AutoGrid Secures $32 Million in Series D Funding Round

Bengaluru-based artificial intelligence company AutoGrid has reportedly secured funds amounting to $32 million in Series D funding. With this round, the total funding of the company as of now has reached $75 million. The new backers comprised of CLP Holdings Group, Innogy, Ørstead, Tenaska and others. Apart from these, the existing investors that participated in the round included Energy Impact Partners, Envision Ventures, Total Energy Ventures, Clearsky Power & Technology Fund, E.ON and Foundation Capital. “We are humbled by the trust and responsibility that some of the largest energy companies in the world are placing in us in their transformative journey towards a new energy future,” said Dr. Amit Narayan, AutoGrid chief executive officer. “We are excited by this investment, whi...

Indian Microfinancing Group Raises $5 Million From BlueOrchard

11Sep By AnkitaNo Comments

FUNDING

Indian Microfinancing Group Raises $5 Million From BlueOrchard

New Delhi based Micro-financing group, Satya MicroCapital raises close to $5 million (Rs. 34 crores) from leading Swiss impact investment manager BlueOrchard Finance Ltd. for on-lending to the Indian micro, small, and medium business sector. The funding comes equally from two BlueOrchard managed funds, the Microfinance Initiative for Asia (MIFA), which is the first microfinance initiative of its size to exclusively target Asian microfinance institutions, and the Japan ASEAN Women Empowerment Fund (JAWEF), which is the first fund investing with female micro-entrepreneurs in the Southeast Asian frontier and emerging markets. "Having grown at a considerable rate and expanded our presence across multiple regions in India, we are well on our way to becoming one of the leading microfinance...

Parenting Startup BabyChakra Raises Funds from Multiple Investors

10Sep By Gauri SinghNo Comments

FUNDING

Parenting Startup BabyChakra Raises Funds from Multiple Investors

Online parenting company BabyChakra has reportedly secured an undisclosed amount of funds in a funding round. The round was led by investors including Mark Mobius & Rajesh Sehgal backed Equanimity Ventures Fund, Facebook’s director Anand Chandrasekaran and OYO’s Chief Strategy Officer Maninder Gulati. The funds so raised will be utilized in strengthening the company’s region and vernacular segment. Other existing investors that participated in the round include Arihant Patni, Artha Ventures and Bharat Rawla. BabyChakra had earlier secured series-A funding from RoundGlass Partners and seed funding from Mumbai Angels, Patni Family Office, and Singapore Angel Network. “The fresh capital will be used to further strengthen BabyChakra’s regional and language-specific content and communit...

8Sep By Gauri SinghNo Comments

FUNDING

Top 5 Funding of The Week (2nd Sept – 8th Sept)

Fundraising gives the much-needed support to the startups that they wish for the purpose of growing. Any startup which is established in order to serve its business objective needs fundraising. Fundraising is important for the startups along with the funding procedure. When these two business components come together, they have a rich potential to contribute to the growth of a startup. This week, we witnessed a good amount of funding activities of various known companies and also various investors that led to these funding rounds. Businesses need finance for a variety of different purposes and these companies also raised funds for various needs. The largest amount of funds were raised by robotics company called GreyOrange. The company raised $140 million in its Series C funding round...

8Sep By Gauri SinghNo Comments

FUNDING

Rental Platform Flyrobe Raises $3.71 million in a Fresh Funding Round

Online fashion rental marketplace Flyrobe that is based in Mumbai has reportedly raised around $3.71 million (Rs 26.06 crore) in a fresh funding round. The investors who led the funding round were IDG Ventures and Sequoia Capital. Another existing investor that participated in the round included Tokyo-based GREE Ventures. Following this deal, the valuation of the company has reached roughly around Rs 155 crore ($21.6 million). However, it has not been mentioned that whether this is the firm’s Series B round of funding or if this capital raise was part of a larger investment round. Flyrobe is an online rental platform for apparels which is operated by Omapal Technologies. It was founded three years ago in 2015 by Shreya Mishra, Pranay Surana and Tushar Saxena. The last time that th...

7Sep By Gauri SinghNo Comments

FUNDING

Robotics Firm GreyOrange Raises $140 Million in Series C Funding Round

A Singapore-headquartered robotics company GreyOrange has secured funds amounting to $140 million in a Series-C funding round. This round was led by Mithril Capital. The other backers that participated in the funding round were Mitsubishi, Flipkart, Project Verte and Blume Ventures. The leading backer Mithril Capital is a venture firm co-founded by Ajay Royan and early Facebook investor Peter Thiel, with the valuation estimated to be between $400 million and $500 million. The company is planning to deploy these funds to expand its supply chain and manufacturing capacity and double down on R&D. “We see Mithril as a strategic investor as there is an alignment with their core technology focus. The investment from Flipkart will strengthen our relationship,” CEO Samay Kohli said. Foun...

US-Based Factual Raises $42 million from Multiple Backers

6Sep By Gauri SinghNo Comments

FUNDING

US-Based Factual Raises $42 million from Multiple Backers

US-based location data company Factual has reportedly raised funds amounting to $42 million in a fresh funding round. The investors that participated in the round were Upfront Ventures, Felicis Ventures and others. This was a party round, without a lead investor. The funds so raised by the company are being planned to be used in the growth beyond the United States, particularly in the Asia-Pacific region. “It was easy, for one thing,” Gil Elbaz, founder and CEO said. “It didn’t take up a lot of time, I didn’t have to go look for a lead, I could focus my efforts on growing the business.” The company is currently hiring fresh employees in Asia — starting with Chris Pattinson, a former Grapeshot executive who will lead Factual’s Asian headquarters in Singapore. Founded in 2009 by ...

5Sep By Gauri SinghNo Comments

FUNDING

Wunder Mobility Secures $30 million in Series B Funding

German mobility startup Wunder Mobility that offers a range a mobility services has secured $30 million in Series B funding. The particular round was led by KCK Group. The other existing backers that participated in the round included Blumberg Capital and other non-disclosed investors. The company is planning to use these funds in the expansion of the company’s engineering team in its home country and to establish an international B2B sales organisation. “We are enabling communities on four continents to address the global traffic challenge and to deploy more sustainable mobility options faster by hosting a full-stack urban mobility tech platform,” said Gunnar Froh, founder and CEO. As of now, the company works with 70 employees from four offices across Asia, Germany, and South Ame...

5Sep By Gauri SinghNo Comments

FUNDING

US-Based SynapseFI Raises $17 million in Series A Funding Round

A US based startup called SynapseFI that helps banks and fintech companies work together to develop technology has raised funds amounting to $17 million in Series A funding round. The round was led by Trinity Ventures and Core Innovation Capital. Other unnamed backers also participated in the particular round. However, it has been reported that the deal closed at the back end of last year. But the company was so busy developing new products, hiring and more that the company could not disclose about it then. Founded in 2014, the core product of the company is a platform that helps banks and developers work together. It involves developer-facing APIs that enable companies to connect with banks to offer services, and also bank-facing APIs that allow banks to automate and extend back-en...

4Sep By AdityaNo Comments

FUNDING

Silicon Valley Based Flag Robotics Raises $3.5 Million Funding Led by True Ventures

SUNNYVALE, Calif. -- Bear Flag Robotics today announced a $3.5 million seed funding round led by True Ventures. The Silicon Valley-based agtech company Bear Flag Robotics is developing autonomous driving and implements control technology for agricultural tractors, freeing growers from hours of monotonous driving and the high cost of labor to fill tractor seats. As part of the raise, they have welcomed Rohit Sharma, venture partner at True Ventures, to the board. Including this round of funding, the company has raised $4.5 million total since Bear Flag Co-Founders Igino Cafiero and Aubrey Donnellan started the company in 2017. Today’s growers compete for skilled labor with the construction, mining and trucking industries. Research suggests that autonomous robots can lower labor expense...