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Funding

Plane raises $4M in funding

Project management platform Plane has raised $4 million in a funding round led by OSS Capital. The startup plans to use the funds to fuel community growth.

“This funding validates our vision of creating a user-friendly, extensible and affordable project management product,” said Vamsi Khurana, Co-founder and CEO of Plane.

“As a first step, Plane One is designed ground-up for growing businesses that need essential tools to manage their projects and their instance better without being locked into ongoing SaaS-pricing commitments,” he added.

Plane One, the company’s project management platform, offers a one-time perpetual licence at $799. The platform can be used by teams of all sizes, across industry verticals.

“Plane’s open-core model, strong community engagement, and first-principles approach to project management deeply impressed us,” said Joseph Jacks, Founder at OSS Capital.

KARBAN raises $1.07M in seed round

Smart appliances startup KARBAN has raised $1.07 million in a seed round from All In Capital, Tital Capital, and Rainmatter.

Urban Company, JK Family Office, CRED’s Kunal Shah, and Anupam Mittal also participated in the round.

The startup plans to use the funds to fuel growth, hire people, and develop products.

“This funding marks a significant milestone, enabling us to accelerate our R&D efforts and develop world-class consumer products that are proudly Made in India,” said Karan Bansal, Founder of KARBAN.

KARBAN was founded in 2021 by Bansal and Tanya Goyal. Its flagship product is a bladeless ceiling fan that comes with an in-built air purifier.

“While India witnesses a splurging demand for air purifiers, a separate unit plugged in one corner of the room is inefficient and air purification solutions have seen little innovation,” said Kushal Bhagia, Founder, All In Capital.

“Karban’s Airzone is the 2024 alternative to existing air purifiers and ceiling fans both,” he added.

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Boba Bhai raises Rs 12.5 Cr in funding

Bubble tea and QSR chain startup Boba Bhai has raised Rs 12.5 crore in seed funding from Titan Capital, Global Growth Capital UK, Arjun Vaidya, and Marsshot VC.

Investors including DEVC, Warm Up Ventures, 1947 Rise Fund, Peercheque, Varun Alagh, also participated in the round.

“We have already expanded rapidly in India, and with this fresh fund, we will expand to 100 stores across the country by December 2025,” said Dhruv Kohli, Founder, Boba Bhai. “We aim to capture 75-80% market share in India in FY24.”

The company retails through 25 outlets across seven cities—Delhi, Gurugram, Udaipur, Bengaluru, Mumbai, Hyderabad, and Chennai.

“We are impressed with Dhruv’s vision and sharp execution with intense clarity in introducing and building ‘Bubble Tea based Korean cuisine food brand in India’, starting with Bengaluru and now expanding to Delhi-NCR and other cities,” said Bipan Shah, Partner at Titan Capital.

“The team’s commitment to tailor-make a range of bubble teas to cater to the varied palates and preferences of Indian consumers has helped it gain immense popularity in a short time,” he added.

NFTFN raises $500,000 in funding

NFTFN, a fintech firm operating in the Web3 space, has completed the first phase of its fundraising, amassing $500,000 by dispersing 10 million $NFTFN tokens at $0.025 apiece over ten days.

In its second phase, the company intends to distribute an extra 25 million tokens at $0.030 each.

“We are deeply encouraged by the market’s response and are gearing up to enhance our platform’s capabilities significantly,” said Vikas Singh, Co-founder and CEO of NFTFN.

“The upcoming phase is critical as we expand our offerings and further integrate with key industry players to bring unparalleled value to our token holders,” he added.

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Surinder Chawla resigns as CEO of Paytm Payments Bank

Other news

Lendingkart names ex-Paytm Payments Bank CFO as its new CXO

Lendingkart has appointed Mukund Barsagade as its group chief financial officer.

Barsagade previously worked at Paytm Payments Bank  where he was CFO.

At Lendingkart, he will lead the finance, capital markets, legal and secretarial functions.

“The lending tech space for MSMEs is a fast-growing opportunity and joining Lendingkart which is a leader in the space is extremely exciting,” Barsagade said.

PhonePe’s Indus Appstore launches voice search feature in 10 Indic languages

PhonePe‘s Indus Appstore’s voice search feature will now be available in 10 Indian languages, in addition to English.

“Vernacular language speakers account for approximately 75% of India’s Internet user base underscoring the need to bridge the linguistic barriers that come with discovering and engaging with apps,” the company said in a press release.

“Indus Appstore’s voice search technology elevates user experience by allowing users to freely express themselves in their local language with just a tap of the voice search button,” it added.

The new feature is also expected to boost app installs.

Chargeup to onboard 25,000 drivers by 2025

Battery financing and EV asset management platform Chargeup plans to onboard over 25,000 drivers across 17 cities, especially in Tier II and III cities, by 2025.

Chargeup also wants to bolster its network by adding 1,500 new partner stations across cities it’s present in, especially Haryana and Uttar Pradesh.

“Chargeup remains unwavering in its commitment to revolutionise the EV landscape, empowering drivers with access to increased credit, faster turnaround time, and a new benchmark of service and uptime,” said Varun Goenka, CEO and Co-founder of Chargeup.

“Our driver-centric approach underscores every decision we make, reaffirming our dedication to maximising their earning potential,” he added.

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