Funding news
Shilpa Shetty-backed Wickedgud bags $250K from GetVantage
WickedGud, a D2C brand specialising in healthy food and snack alternatives, secured an additional $250,000 in growth funding from GetVantage, an alternative financing platform for ecommerce entrepreneurs and SMEs.
WickedGud said its net revenue has been growing 3X over the past 12 months. It plans to use the funding on marketing, product expansion, and retail distribution to achieve 5X growth in net revenue in FY24. It also plans to exponentially increase its retail footprint to over 2,000 stores across India through its distribution partner network.
The brand claims to make 100% maida-free, oil-free, and MSG-free pasta and noodles. It plans to launch three product categories over the next 18 months—malted drinks, sweet spreads, and popped chips.
Last month, WickedGud, which appeared on Shark Tank Season 2, raised Rs 2.25 crore from fitness evangelist, actor, entrepreneur, and serial investor Shilpa Shetty.
Other news
MedRabbits launches medical value travel service for patients
MedRabbits, a Pune-based healthtech company, has launched a medical value travel service.
The company will partner with premier hospitals and speciality clinics across India and overseas and assist international and domestic patients with counselling, hospitalisation, end-to-end travel, visas, second opinions, translation services, accommodation, patient admission, and rehabilitation services.
The service will also include assistance with documentation, including patient registration with the Foreigners Regional Registration Office, filling in the medical visa C form, and other on-field assistance.
The service is also available to domestic patients who are exploring surgery options in various cities. MedRabbits is also offering a ‘care now, pay later’ plan, enabling domestic customers to receive immediate care while deferring payment.
Meanwhile, to support its medical tourism services, the startup has established a representative office in Bangladesh, a significant source of medical tourism patients.
CredFlow acquires Y Combinator-backed startup TechBiz
CredFlow, the cash flow management platform focused on mid-market small and medium enterprises, has acquired TechBiz, a business management startup, for an undisclosed amount in an all-cash deal.
With the acquisition, CredFlow plans to launch its offering for over 600,000 Busy Accounting Software users all over India and globally. As part of the deal, TechBiz’s co-founders—Pratyush Sharma and Vikramaditya Patil—will join CredFlow’s team to assist with the transition of the product.
TechBiz, which is backed by Y Combinator, aids small and medium enterprises by managing outstanding debtors and sending timely payment reminders.
CredFlow’s SaaS platform assists SMEs in cash flow management, improving receivables, and reducing working capital cycles.
