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Ximkart raises $2.4M led by Matrix Partners

Cross-border raw material sourcing startup Ximkart has announced a new fundraise of $2.4 million led by Matrix Partners, with participation from Multiply Ventures, Better Capital, and Citius Ventures. Additionally, the founders of multiple high-profile companies such as Udaan, OfBusiness, Ula, and Zetwerk have invested as angels.

Founded earlier in 2022 by Sharan Urubail and Ankush Mittal, Ximkart aims to simplify the process of procuring and importing raw materials for manufacturers globally. By providing better transparency, discovery, quality and accountability in the supply chain, they hope to eliminate middlemen.

CEO Sharan Urubail said, “Our platform provides manufacturers with direct access to the best raw materials from across the globe—along with easy payment and logistics solutions to make the entire procurement process seamless. Our goal is to significantly contribute to the journey India is making towards being a global manufacturing epicentre.”

Weathtech startup Finnovate raises nearly $1M in Pre-Series A round

Finnovate, an end-to-end investment services firm, has announced its Pre-Series A funding round of $1 million.

The company is led by Naveen Singh and Nehal Mota, who each have around two decades of experience in the financial sector.

The Finnovate platform offers personalised financial life planning and researched-backed investment portfolios to working professionals, high-net-worth individuals, and families. The startup are planning to use the funds to scale its technology-led wealth management platform and Finnversity, a financial literacy platform.

New Leaf raises Rs 6.15 Cr from Facebook co-founder’s fund

Delhi-based New Leaf Dynamic Technologies has announced that they have raised Rs 6.15 crore in a Pre-Series A round from Dustin Moskowitz’s investment fund Good Ventures. Moskowitz co-founded Facebook (now Meta) but left in 2008 to found Asana.

New Leaf currently produces the GreenCHILL refrigeration unit, which is powered by biomass and farm waste. Recently, the company also started offering access to finance to its end-users, farmers and farmer-producers via loans guaranteed by various banks and financial partners.

Co-founder Akash Agarwal said, “We will be utilising the capital raised through this round majorly to strengthen India’s cold chain infrastructure—reducing post-harvest losses by replacing conventional compressor technologies with New Leaf’s biomass-powered Made-in-India refrigeration technology which is affordable, sustainable and reliable.”

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