Blog

Funding news

ReFit Global bags Rs 2 Cr funding on Shark Tank India Season 3

ReFit Global, a direct-to-consumer (D2C) refurbished marketplace, has raised Rs 2 crore in funding at a valuation of Rs 200 crore from investors Anupam Mittal, Vineeta Singh, and Amit Jain on Shark Tank India Season 3. 

The funds will be utilised to scale operations, broaden market outreach, and strengthen the company’s technological infrastructure. Additionally, it will also be used to enhance its web presence and overall customer experience.

The company achieved 100X YoY growth, securing Rs 200 crore in FY 2022-2023.

eFeed raises Rs 1 Cr from Klub, reports 10X growth in monthly revenue in 2023

eFeed, a precision animal management and nutrition company, has raised Rs 1 crore from revenue-based financing company, Klub.

The company said it has recorded a 10X financial growth in 2023 by selling lifecycle-based nutrition products. It is targeting Rs 100 crore in annual revenue in FY2025.

Other key milestones in 2023 include 30% repeat users and reduction of the environmental impact of methane by using AI, which predicts methane emissions per animal, said the company.

Namma Swadeshi raises undisclosed debt funding 

Namma Swadeshi, a Bengaluru-headquartered renewable energy startup, has raised an undisclosed amount by way of debt funding from Incred Capital. 

The funds will be used for sales team hiring to increase revenue, store launches, and brand building. Previously, the company had raised debt funding from Jiraaf.

Founded in 2020 by Praveena K and Chinmayee Praveen, the startup specialises in hot water, drinking water, and energy solutions. It recently entered the electric vehicles segment. It hopes to close FY24 at Rs 15 crore and be EBITDA positive.

@media (max-width: 769px)
.thumbnailWrapper
width:6.62rem !important;

.alsoReadTitleImage
min-width: 81px !important;
min-height: 81px !important;

.alsoReadMainTitleText
font-size: 14px !important;
line-height: 20px !important;

.alsoReadHeadText
font-size: 24px !important;
line-height: 20px !important;

Also Read

Entrepreneurial momentum has picked up in the state; we now have to up the ante: Meghalaya CM Conrad Sangma

Other news

Scandron receives DGCA type certification for logistics drone

Logistics drone startup Scandron has secured the Directorate General of Civil Aviation’s (DGCA) type certification for its logistics drone CargoMax 500HE.

The startup’s parent Magellanic Cloud said in an exchange filing that it has become the first company in India to secure the certification.

The startup now plans to introduce drone-based logistics solutions in the market. The approval will help Scandron improve its mid- and last-mile delivery, streamline its ecommerce logistics, and facilitate critical medical deliveries to remote regions.

Scandron has partnered with logistics solution provider CriticaLog for B2B drone delivery in 160 cities, enhancing services in healthcare and ecommerce.

Ajay Shanker joins Ultraviolette as CFO

Ajay Shanker has joined Ultraviolette Automotive, an electric vehicle platform and battery technology company, as its chief financial officer (CFO).

Shanker has experience in financial roles at companies such as Schneider Electric, Aricent (Flextronics), Yamaha Motors, and IIM Bangalore – NSRCEL.

As CFO at Schneider Electric, he managed international business, overseeing regions including India, the Middle East, Africa, South America, East Asia, Japan, and the Pacific.

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