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Funding news

Artisanal product startup P-TAL raises Rs 4.33 Cr in seed funding

P-TAL, a startup specialising in artisanal kitchenware, cookware, and home decor products, raised a seed funding round worth Rs 4.33 crore led by Titan Capital to expand its team and brand building.

Notable investors, including Anicut Capital, Ghazal Alagh (Mamaearth), Sandeep Aggarwal (Droom and Shopclues), and others, also participated in the round.

The startup’s products are handcrafted by the Thatheras of Jandiala Guru, Punjab, whose craft is listed on UNESCO’s Intangible Cultural Heritage list. P-TAL claimed to have seen significant growth, reviving the Thatheras’ craft and increasing the monthly income of 55 artisan families by over 1200%. Its products have been selected for gifting by the Reserve Bank of India (RBI), Pernod Ricard, and the G20 Summit 2023.

Education-focused NBFC Avanse Financial secures $145M social-linked loan

Avanse Financial, an education-focused NBFC, secured a syndicated social-linked loan facility of $145 million categorised as External Commercial Borrowing (ECB). A total of 11 banks participated in this syndication, and the funds will be received in installments.

Standard Chartered Bank coordinated the social loan and served as the sole mandated lead arranger and sole book runner.

According to Avanse Financial, this social-linked ECB deal is one of the first in India’s education financing sector. The company has helped nearly four lakh academic aspirants across 4,000+ institutes and 30,000+ courses in about 50 countries. It has also provided growth and working capital to over 2,000 educational institutes catering to over 10 lakh students.

Other news

Table Space launches TS Suites, plans expansion with Rs 500 Cr investment

Co-working space provider Table Space launched TS Suites—pre-built offices in key Indian locations on short and mid-term contracts with plans to expand suites to 25 centres within the next 18 months, investing approximately Rs 500 crore in the venture.

Table Space aims to provide companies with ready-to-use workspaces, ensuring a seamless experience from inquiry to setup in less than 24 hours.

“Our rich legacy of working with Fortune 500 companies and large MNCs in the country and a proven track record of delivering 7 million+ sq. ft. of workspace, gave us the insights needed to create a premium offering that caters to a relevant market need,” Karan Chopra, Co-founder and Chief Investment Officer of Table Space, said.

Rajdipkumar Gupta, Nishant Patel launch Virar-Hub Incubator for local entrepreneurs

Rajdipkumar Gupta, Founder of Route Mobile Ltd, and Nishant Patel, Co-founder of Contentstack, have established the Virar-Hub Incubator to support local entrepreneurs in Virar and nearby areas.

The incubator aims to mentor entrepreneurs, help them build profitable businesses, and offer investment opportunities.

“My mantra for success starts with 3S–Scale Sensibly to Sustain. Building successful businesses takes a lot of focus and commitment. With this incubator, we aim to provide the right kind of environment and tools that will create a strong foundation for these startups,” Gupta said.

Vedantu’s Vivek Bhutyani joins Pocket FM as VP of Content Marketing

Audio series platform Pocket FM has appointed former Vedantu employee Vivek Bhutyani as Vice President of Content Marketing.

With 20 years of experience spanning media, telecom, retail, and edtech, Bhutyani will lead the company’s content marketing strategy. Before joining Pocket FM, Bhutyani oversaw Vedantu’s growth YouTube strategy. He has also found an edtech startup called Lattukids.

“I am truly exhilarated to join the Pocket FM team and especially excited for the 0 to 1 journey that we are undertaking on organic content marketing,” Bhutyani said. “Pocket FM’s commitment towards pioneering a new category with audio series, along with fostering a vibrant creator community and delivering outstanding content, aligns perfectly with my ambition to create a solid foundation for the organic growth funnels via our own content and IPs.”

Indian Angels on Jio Cinema: Investors support startups; viewers can invest

Digikore Studios is launching Indian Angels, a show on Jio Cinema, where angel investors back startups and viewers can also invest. The first episode is scheduled for late October, with two episodes released weekly on JioCinema.

The panel includes Ankit Agarwal (Founder and CEO of InsuranceDekho), Shreedha Singh (Co-founder of T.A.C – The Ayurveda Co.), Kunal Kishore (Founder and Director of Value 360), Ajinkya Firodia (Managing Director of Kinetic Engineering Ltd.), Rikant Pittie (COO and Co-founder of EaseMyTrip), and Aparna Thygarajan (Co-founder and Chief Product Officer of Shobitam).

CORE Diagnostics to use CanCertain Healthcare’s drug resistance diagnostic tool for cancer

Diagnostics solutions provider CORE Diagnostics will use CanCertain Healthcare’s diagnostic tool that helps doctors know which medicines will work best for a patient’s cancer.

The test called CanCertain provides insights into a patient’s tumour’s sensitivity or resistance to specific cancer drugs. The company said it will make cancer care more precise and effective while saving time and reducing the financial burden of ineffective treatments.

CORE Diagnostics, established in 2012, provides a wide range of diagnostic tests across various medical fields, including oncology, gynaecology, gastroenterology, transplantation, nephrology, genetics, and routine/preventive healthcare. The company has over 8,500 healthcare prescribers and more than 1,000 clients, including hospitals, clinics, and pharmaceutical companies.

(This article will be updated with the latest news throughout the day.)