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SaaS platform SimpliContract raises $3.5M in Pre-Series A round

Bengaluru-based enterprise software-as-a-service (SaaS) firm SimpliContract has secured $3.5 million in Pre-Series A funding led by Emergent Ventures. The round saw participation from Kalaari Capital, Picus Capital, Foster Ventures, Leslie Ventures, and Sentinel Ventures.

The funds will primarily be used to fuel SimpliContract’s growth and expansion in the US and European markets, with a focus on investing in sales and marketing, the firm said in a statement.

Founded in 2020, SimpliContract caters to the Contract Lifecycle Management (CLM) market with its artificial intelligence-powered platform, to over 20,000 clients across including BYJU’S, Flipkart Group, and NHS. The company says it has a total contract value of $30 billion under management.

SimpliContract has raised $5.3 million so far, including the current round. The B2B startup had previously raised $1.8 million in seed funding in June 2021.

“With digitisation and automation taking center stage, CLM is no longer a ‘good to have’ but a ‘must-have’ for enterprises. We’ve seen a considerable uptake for our CLM platform basis its maturity, versatility, and unique features compared to contemporaries in the market,” Guru Venkatesan, Co-founder and CEO of SimpliContract, said.

Ex-BharatPe executives’ startup raises $3.5M from Matrix Partners

GenWise, a consumer-facing digital app for the elderly, has raised $3.5 million in a seed funding round led by Matrix Partners, according to an Entrackr report. The Delhi-based stealth startup was founded by former BharatPe executives Rajat Jain (CPO for lending and consumer products), Geetanshu Singla (vice-president of technology) and Nehul Malhotra (head of consumer lending platform PostPe).

GenWise helps younger family members stay connected with their parents or senior ones, while giving elders the independence to use technology and access customised solutions on their own. It will offer products across finance, wellness, commerce, payments and social networking and will also provide personalised sessions for elders to help navigate existing mobile services and daily activities, according to its website.

The firm will be valued at around $6-8 million post funding given the current market conditions. However, Nehul Malhotra said the valuation mentioned is “quite low as compared to reality”, according to the report.

Edtech startup Oneistox raises $1.2M in seed funding

Oneistox, an edtech startup focused on the architecture, engineering, and construction (AEC) industry, has secured $1.2 million in seed funding from Y Combinator, Powerhouse Ventures, and Soma Capital with participation from angels like Amit Ranjan, co-founder of Slideshare, Deepak Menon, VP-Microsoft among others.

Founded in 2021 by Harkunwar Singh, Vipanchi Handa, Mehul Kumar, and Chaithanya Murali, Oneistox offers upskilling programs tailor-made for AEC professionals to help them build industry-relevant skills and stay ahead of the curve.

With the new funding round, the startup has been able to achieve 30% month-on-month growth in the last 12 months while doubling down on its platform infrastructure, developing more new-age courses for learners, and expanding its team.

“The AEC industry is ripe for disruption, and Oneistox aims at leading the charge with cutting-edge upskilling courses. We are thrilled to have amassed the support of such an eminent investors panel over the last year. Our goal is to ensure that the next generation of AEC talent is armoured with future-ready skills to meet the ever-evolving demands of this industry,” Harkunwar Singh, Co-founder, Oneistox said.

Good Glamm Group partners with GoKwik to expand cash on delivery service

Content-to-commerce company Good Glamm Group has joined hands with ecommerce enablement platform GoKwik to expand cash-on-delivery (COD) service to Tier II and Tier III cities.

The Mumbai-based firm aims to reduce the risk of return to origin and non deliverability of orders, it said in a statement. GoKwik will use its solutions backed by technology and data science to ensure robust RTO protection and unlock further growth potential for Good Glamm Group, it said.

COD continues to be a preferred mode of payment, accounting for 60-80% of orders on ecommerce platforms, even as the adoption of digital payments in India is growing.

Partnering with GoKwik has allowed us to do just that, and we are confident that this collaboration will enable us to expand our customer base and drive business growth while minimizing COD losses,” said Manan Jain, Group Chief Growth Officer of Good Glamm Group, said.

Agritech firm INI Farms raises $1.95M from Aavishkaar Capital

Agritech firm INI Farms has secured funding worth $1.95 million from Aavishkaar Capital’s ESG First Fund. This is the first investment from Aavishkaar Capital’s $250 million fund focused on environmental, social and governance outcomes.

Founded in 2009 by Purnima and Pankaj Khandelwal, INI Farms exports fruit and vegetable crops across India including contract farming, aggregation, supply chain management, and are serving food retailers globally. NI Farms is working closely together with AgroStar to build a digital farmer network with over 5 million users, and a retail network of more than 2,000 stores.

“This investment will provide us with a great opportunity to grow multi-fold with expansion into the entire agriculture output business and leveraging our strong supply chain capabilities,” Purnima Khandelwal, CEO and Co-founder, INI Farms said.

Cricketer Hardik Pandya invests undisclosed amount in food brand Yu

Cricketer Hardik Pandya has invested an undisclosed amount of money in consumer food brand Yu.

Founded in 2021 by Bharat Bhalla and Varun Kapur, Yu offers a range of over 14 easy-to-make packaged foods including pasta, cup noodles, oats, and halwa. The company says its products are made using natural ingredients and contain zero preservatives. It has an online and offline presence with more than 4,000 physical stores and provides catering service to SpiceJet and Akasa Air flights.

The Gurugram-based brand raised Series A funding led by Ashish Kacholia and Asian Paints Family in October 2022.

Pandya has also joined the firm as a brand ambassador. Yu is expected to launch a maiden campaign during the IPL 2023 season which will be led by Pandya, Yu said in a statement.