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Funding news

Fabrication Bazar bags $3M in pre-Series A round

Ben & Gaws Private Limited, the company behind the manufacturing tech startup Fabrication Bazar, has secured $3 million in a pre-Series A funding round led by Physis Capital, along with participation from Japan-based venture capital firm ICMG and existing investor Inflection Point Ventures.

The new funding will be utilised to enhance the platform, broaden its global reach by expanding into regions outside India, particularly the GCC and Southeast Asia markets, and strengthen the leadership team through strategic hires.

“Our tech-enabled, asset-light manufacturing platform empowers thousands of MSME steel fabricators across India by enhancing their capacity utilisation, delivering quality products to blue-chip MNC clients, and providing them access to capital. This round helps us to further enhance our tech offerings and build the team to take us to the next level. Given the size and potential of the steel fabrication industry in India and globally, we see significant growth opportunities ahead,” said Dwaipayan Dutta, Co-founder and CEO, Fabrication Bazar. 

Fabrication Bazar is a tech-enabled, asset-light manufacturing platform specialising in industrial steel products. It serves over 400 clients across various sectors, by leveraging its proprietary manufacturing technology to enhance production efficiency.

Decapods Aquaculture Technologies closes Rs 4.25 Cr seed round 

Chennai-based startup Decapods Aquaculture Technologies Ltd has raised Rs 4.25 crore $500,000) at a pre-money valuation of Rs 40 crore. The funding round was spearheaded by Priya Parthasarathy, along with women angel investors. 

The round also attracted a group of investors from the UAE, Kuwait, Australia, Singapore, and India. 

“This is a testament of the growing influence of women in finance and also the global appeal of a startup from Tamilnadu. The story not only reflects on a personal milestone of Decapods, but also my focus and commitment to connect local startups with global investors and to bring in more women investors to the podium,” said Priya Parthasarathy. 

TailBlaze secures pre-Series A Round at an undisclosed amount

India’s SAPL Group, the parent company of the organic dog food brand TailBlaze, has secured an undisclosed amount at a valuation of $7.25 million. The parent group is reportedly in discussions with venture capitalists and family offices in India and the US to raise a larger Series A round, aiming for $2 million. 

The fresh capital will enable the company to support its revenue growth and expansion into seven additional countries, including the USA, the UK, Georgia, Armenia, Australia, the UAE, and Canada.

The group is also engaging with international sportsmen to bring them on board as celebrity investors, as part of its expansion strategy in India, according to the company’s statement.

SAPL Group, which already owns pet brands such as TailBlaze, Pawssentials, and Groom Vroom, has also acquired several global brands as part of its expansion plan for FY24-25.

LoanKuber raises $3.5Mn in pre-Series B round

LoanKuber, the brand operating under Janasha Finance, has raised $3.5 million in a pre-Series B funding round through both equity and debt. The round was led by Singapore-based TRTL VC and existing investor Inflection Point Ventures.

Some of the additional participating investors include Auxano, LetsVenture, and Mavuca Capital, along with angel investors such as Ruchi Deepak (Co-founder of ACKO Insurance), Prashant Tandon (Co-founder of 1mg), and Pankaj Vermani (Co-founder of Clovia). 

The latest funding will boost Janasha Finance’s total capital raised to over $13 million to further improve credit access for underserved communities in India.

Additionally, LoanKuber plans to use the newly acquired funds to expand its assets under management (AUM), which currently total around Rs 93 crore, the company said in a statement. 

Founded in 2018 by Saurabh Nagpal, an alumnus of IIT Delhi, and Saumya Nagpal, an alumnus of IIM Bangalore, LoanKuber provides formal mortgage finance to MSMEs.

Other news

Orchids The International School recruits 200+ IITians 

Orchids The International School has recruited about 200 IIT graduates, including alumni from IIT Kanpur, IIT Mandi, and IIT Bhubaneswar, to enhance its Orchids Career Foundation Programme in physics, chemistry, and mathematics for grades 6 through 12.

Along with teaching, the IIT graduates will focus on mentoring students in personal and professional development, including career choices, research, and entrepreneurship.

“IIT graduates bring a different dimension to the classroom. The deep understanding and practicality of these STEM subjects, makes them furnish the students with more comprehensive and nuanced learning of complex subjects. This comes in handy, perhaps now more than ever, in schools, for these teachers equip the students with not just learning the content but also mentoring them toward building a culture of thinking and problem-solving,” said Shlok Srivastava, Head of the Orchids Career Foundation Program.

Ecom Express launches new brand identity

B2C ecommerce logistics solutions provider Ecom Express has introduced a fresh brand identity.

The new visual identity features a logo with a forward-moving arrow enclosed in a square, to symbolise the company’s efforts on reliable delivery. The design also includes the letter “E,” representing Expression, Innovation, and Progress, while the bold magenta colour signifies bravery and self-expression, the company said.

“We are committed to integrating robust technology and innovation to deliver reliable, high-speed services with the widest network reach, all while optimising operational efficiency and flexibility,” said Ajay Chitkara, CEO and MD of Ecom Express.

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