Funding
D2C brand Koparo raises $1.25M led by Saama Capital
Personal hygiene brand Koparo has secured $1.25 million in a pre-Series A round led by Saama Capital. The round saw participation from Fluid Ventures and M Venture Partners along with new angels Rajesh Sawhney (Founder and CEO of GSF Accelerator), Sridhar Sankararaman (Multiples PE), and Ramesh Menon (Ex-Future Group, Hypercity), and existing investors DSG Consumer Partners.
The funds will be used to build offline presence, invest in brand building, and drive product innovation, Koparo said in a statement. The company currently offers a portfolio of over 15 products and over 30 SKUs across core cleaning, specialty cleaning, and accessories. Its products are available through its own website, which contributes to approximately 40% of overall revenue, leading ecomm sites and 70 stores of Reliance Retail and Modern Bazaar.
“The modern Indian home is ready for new cleaning products that are effective yet not laden with harsh chemicals. Several sub-categories within cleaning are already responding well to our proposition. With the backing of some of the best consumer investors, we feel confident of executing well on our category defining play at Koparo,” said Simran Khara, Founder of Koparo.
Other news
YC-backed Novatr appoints Mishu Ahluwalia as Chief of Staff, Rajat Tiwari as VP Sales
Y Combinator-backed edtech firm Novatr has made two new appointments–Mishu Ahluwalia as Chief of Staff and Rajat Tiwari as Vice President of Sales.
Ahluwalia is the co-founder of two startups–GoHive and Roofpik–and has over 22 years of experience across domains like technology, real estate, and ecommerce. As the Chief of Staff at Novatr, Ahluwalia will be responsible for various functions including business growth and strategy, partnerships, crisis management and finance, the company said in a statement.
Tiwari has held leadership roles in BYJU’s and Camp K12 and has experience in sales and strategy. As the Vice President of Sales at Novatr, Tiwari will play a key role in establishing sales processes across verticals and fostering cross-functional collaborations within departments. His addition to the team will be pivotal in terms of driving Novatr’s projected revenue growth and expansion, the company said.
The company said it is currently clocking an ARR of $8 million. It recently raised $1.2 million in seed funding from Y Combinator, Powerhouse Ventures, Soma Capital, and notable angels like Amit Ranjan, Co-founder, Slideshare.
Scaler partners with Disney+ Hotstar for World Test Championship final
Scaler has joined hands with online streaming platform Disney+ Hotstar as the official partner for the World Test Championship (WTC) final between India and Australia from 7th to 11th June, 2023.
Through this association, the edtech startup aims to garner around 50 million cumulative impressions for the edtech’s latest brand film that urges working professionals to be self-driven in their hungry pursuit for skill-based career growth, Scaler said in a statement.
“This collaboration marks a pivotal step in Scaler’s evolving brand-marketing journey as we move beyond the safe harbour of our minimal investment for a maximum-impact approach. Our goal is to enhance visibility for the brand by aligning with niche sporting events that reach our desired demographic,” Rahul Karthikeyan, Chief Marketing Officer Scaler and InterviewBit, said.
Igus India to invest Rs 100 crore in new Bengaluru plant
Igus India, a firm dealing in motion plastics, is set to open new four-acre, 84,000 sq ft integrated campus in Bengaluru in 2023. It will invest Rs 100 crore to grow this plant and add new items to its manufacturing capabilities.
Igus has already invested around Rs 15 crore in the first phase of construction of the facility, which is expected to be operational in the coming months, the company said in a statement.
The company expects to double its revenues in the next 3-4 years, according to Deepak Paul, Managing Director, igus (India). Igus India revenue has grown from Rs 118 crore in 2020-21 (during the pandemic) to Rs 199 crore in 2021-22 and to Rs 284 crore in 2022-23.
“Our continued investments in our manufacturing capabilities in India reiterate our commitment to deliver cutting-edge products and solutions to customers here and globally. Igus has a global focus on cost-sensitive and sustainable solutions, designed to meet customer demands, in line with our motto ‘Tech up, cost down’, which is also the Indian approach to technology and innovation, a key factor that has led to our significant growth in the country,” Paul added.
