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Funding news

CURRYiT raises Rs 4.5 Cr in seed round

D2C brand CURRYiT raised  Rs 4.5 crore in a seed funding round led by RK Family Trust (Apollo Group), Tangent Advisors, Freeflow Ventures, and angel investors, including Ramesh Damani (DMart Group) and Ajaya Jain.

It will use the capital to expand operations, boost brand marketing initiatives, and strengthen distribution networks.

Founded by IIM alumni Richa Sharma and Nischal Kandula, CURRYiT features an extensive range of cooking pastes in India, with curry pastes such as Kashmiri Rogan Josh and Butter Masala, biryani pastes, ginger garlic paste, tomato purees, and instant tadka.

“With this recent funding, we will double down on our production and marketing efforts to make CURRYiT the go-to brand for every Indian’s daily cooking needs,” Co-founders of CURRYiT said. 

Fintech VC fund Cedar-IBSi Capital invests in Cogniquest

Cedar-IBSi Capital, an early-stage fintech VC fund, invested an undisclosed sum in Cogniquest, an AI-ML company specialising in intelligent document processing for financial institutions. It will use the capital for technology development and expanding use cases. 

The round also saw over 25 angel investors via AngelList India participating, including Dhiraj Sinha (QuantGro), Umashankar Malapaka (former Infosys), Visveswara Gupta (former Infosys), Rajesh Bhat (former Accenture), Anup Naik (Zeliot), and Vimal Singh (ReadyAsssist), among others.

“The banking technology and infrastructure ecosystem is undergoing a silent disruption, with new-age players complementing and disrupting age-old monolithic systems, by bringing modular and easier-to-implement solutions. We see immense potential for growth in this segment and expect the next generation of tech-product companies building for BFSI globally to emerge from India,” said Sahil Anand, Founder and Managing Partner of Cedar-IBSi Capital. 

Other news

D2C brand Berrylush launches new app 

Berrylush, a direct-to-consumer women’s fashion brand, launched its new mobile app on Android and iOS devices. Developed in collaboration with Shopify’s mobile app developer, Appbrew, the new app is designed to offer a seamless shopping experience to customers, positioning Berrylush alongside leading fashion retail giants while further enhancing the company’s omnichannel strategy.

By partnering with Appbrew, Berrylush claims to have simplified app maintenance and significantly reduced costs. This investment is 50-60 times lower than developing an app with an in-house tech team or hiring a traditional app development agency.

Core Integra appoints Ramesh Padmanabhan as COO

SaaS-based labour law compliance platform Core Integra appointed Ramesh Padmanabhan as Chief Operating Officer (COO). 

With over three decades of experience in industrial relations and personnel management, Padmanabhan previously served at TATA Projects and has led several roles at Air Force HR and administration and compliance consulting firms. 

“I am thrilled to join Core Integra and contribute to its mission of revolutionising HR and Compliance solutions. I look forward to leveraging my experience to drive operational efficiencies and support the company’s strategic goals, especially in establishing technology leadership in this segment,” he said. 

Zetwerk, Smile partner to commission advanced IT hardware factories

Zetwerk, a contract manufacturing marketplace, has partnered with SMILE Electronics, a local electronics manufacturing services (EMS) provider, to establish three new IT hardware production facilities in India.

The Devanahalli factory, located near Bengaluru, will feature fully automated production lines designed for the assembly, testing, and packaging of desktops, laptops, energy meters, and remote controls.

“Cutting-edge technology like automated screen-printing, placement and reflow machines ensure efficient production, with the ability to produce 0.75 million components per hour. The facility prioritises environmental responsibility through RoHS compliance and offers conformal coating for enhanced product protection,” the company said in a press note.

It will open two additional facilities in Chennai and Andhra Pradesh.

Sanjeev Misra joins Rukam Capital as advisor 

SEBI-registered Category-II VC fund Rukam Capital has appointed Sanjeev Misra as an advisor.

With over 30 years of experience, Misra was a key member of the leadership team at Adani Group, where he served as VP of Group Business and Renewables and was instrumental in driving sales, strategic planning, and business development. Additionally, he spent over a decade in Silicon Valley, contributing to the growth of renowned companies.

“Rukam Capital’s focus on early-stage investments aligns perfectly with my belief in the power of innovation and strategic growth. I look forward to collaborating with the team and leveraging my experience to help elevate the startups in Rukam Capital’s portfolio,” he said. 

NIIT appoints Anshumaan Prasad as Head of Marketing

NIIT appointed Anshumaan Prasad as its new Head of Marketing, and he will oversee NIIT’s marketing strategy and initiatives to drive growth and fuel the brand’s presence.

With over 13 years of experience in the FMCG, FMCD, and tech sectors, Prasad has held roles at HUL and Amazon. Throughout his career, he has been instrumental in developing and implementing marketing campaigns, strengthening brand presence, and leading high-performing teams.

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