Funding
Scandalous Foods raises Rs 1.6 Cr in ongoing pre-Seed funding round
Restaurant-focussed B2B sweets brand Scandalous Foods has raised Rs 1.6 crore in the ongoing pre-seed funding round, backed by Anthill Angel Fund, , Value360 and SapphireInk Ventures.
Angel investors Sagar Daryani (Wow! Momo) Kamnaa Aggrawal, Vikas Aggarwal (We Founder Circle) and Harpal Singh Sokhi (ex-IndiaMart and Celebrity Chef) also participated.
Founded in August last year by Sanket S and Pravesh Amin, the company aims to deploy the capital for expansion of its production unit in Nasik, automation, expanding sales network beyond five cities and doubling down operations in Mumbai, Thane and Nasik. Funds would also go into product development.
In its one year of operations, Scandalous Foods claims to have sold nearly 14 lakh pieces of sweets. The brand offers preservative-free sweets with a six-month shelf life, focusing on cloud kitchens. In the near future, it will launch mithai bars and sachets, catering to spontaneous indulgence.
“We’re planning to break new ground by entering wedding and corporate catering channels, extending our reach to smaller QSRs. Fueled by B2B2C aspirations, we’re piloting a wholesale sweet shop under our brand. This funding empowers us to sweeten moments, one delectable venture at a time,” said CEO & CPO Sanket S.
Quick commerce delivery service provider Pikndel raises $285K in pre-Seed round led by 100X.VC
Quick commerce delivery service platform has secured $285,000 in a pre-seed funding round led by .
Founded in 2022 by Teja Vadlamani, Siddharth Batra, and Tullika Batra, Pikndel aims to empower D2C and ecommerce brands to achieve swift, cost-effective same-day deliveries, along with the facility of product storage via dark stores. It is currently operational in Delhi NCR, Mumbai, and Bengaluru, and plans to expand this further.
“The investment received will be pivotal in our expansion plans as we intend to have a robust pan-India presence, making same-day deliveries a ubiquitous option for our customers,” said Vadlamani.
Ninad Karpe, Founder & Partner, 100X.VC, said, “With a team that is passionate about their business and a model that will disrupt the D2C and ecommerce industry, Pikndel is poised to make significant strides in the burgeoning quick delivery space.”
EsportsXO raises funding round led by SOSV’s Orbit Startups, SucSEED Indovation Fund
Esports and gaming startup has raised an undisclosed amount in its ongoing funding round led by SOSV’s and existing investors and .
and also participated.
Founded in 2020 by Vikas Goel, Utsav Umang, and Rohit Raj, Bengaluru-based EsportsXO offers online esports tournament management systems. The SaaS-based platform collaborates with game developers and brands to enhance visibility among the gaming community through community-building and targeted advertising.
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L-R- EsportsXO Founders: Rohit Raj, Vikas Goel and Utsav Umang
” align=”center”> L-R- EsportsXO Founders: Rohit Raj, Vikas Goel and Utsav Umang
“XO aims to become the largest game and player discovery platform for gamers. Game advertising is a $130 Bn market. With BattleXO, we are not just targeting gamers but also addressing the needs of game developers and tournament organisers, enabling them to leverage technology for scalable reach through data-driven campaigns,” said Goel.
The firm claims to have achieved positive EBITDA for the last quarter.
Vikrant Varshney, Co-founder and Managing Partner of SucSEED Indovation Fund, said, “Since the time we funded them in the first round, EsportsXO has kept us impressed with their journey of growth. They have hosted 25,000+ tournaments, have 1000+ tournament organisers on their platform, generated over $4M lifetime revenue with less than $1.5M spend, and have distributed $100K+ in sponsored rewards.”
Indian Angels closes Season 1 with Rs 6.5 Cr of investment in 12 Startups
Indian Angels, a startup pitch and investment show, closed its first season with Rs 6.5 crore of investment in 12 startups from among a panel of investors, including Ajinkya Firodia (Kinetic Group), Ankit Agrawal (), Aparna Thyagarajan (), Kunal Kishore (Value 360), Rikant Pittie () and Shreedha Singh (T.A.C – ).
As per the format, entrepreneurs pitch their business ideas to the investors in a 60-second elevator pitch, followed by a Q&A session. It also allows viewers to invest in these ventures alongside the six angel investors.
Streaming on Jio Cinema, the most recent episodes saw participation of startups of Bare Wear, iYatraa Holidays, TriGo Electric, Habbits, Priyam Online, and Estoqi, of which TriGo managed to secure Rs 40 lakh at a valuation of Rs 7.5 crore for 5.33% equity from Firodia while Habbits raised Rs 30 lakh for 15% equity and the potential for an additional Rs 20 lakh debt at 10% interest from a consortium.
Other
BetterPlace appoints former Hubilo VP Deepak Lamba as Enterprise Sales head for India
In a bid to accelerate their growth in the Indian market, , a frontline workforce management SaaS platform, has appointed Deepak Lamba as Enterprise Sales Head for India.
Prior to joining BetterPlace, Lamba played a pivotal role in building companies like Wingify and Hubilo as their Head of Sales for UK and Europe and Vice President of Global Sales, respectively.
“With India experiencing rapid growth, enterprises across industries want to quickly adapt and increase their margins by optimising their processes. This provides an immense opportunity for us, and Deepak’s expertise in driving sales across different markets will help us tap into this potential and consolidate our position in the market further,” said Pravin Agarwala, Co-founder & Group CEO, BetterPlace.
Lambha is also the co-founder of Revenue Circuit, a B2B sales community. At BetterPlace, he would lead the entire Sales team in India and align India’s sales efforts with the global teams.
Eversource receives catalytic concessional capital from the US Department of State, USAID, the Danish Government
Climate impact investor Eversource has received catalytic concessional capital from the US Department of State and the United States Agency for International Development (USAID) through its programme Blended Finance for Energy Transition (BFET) and the Investment Fund for Developing Countries (IFU) under the Danish Development Finance Institution (DFI).
The same was announced at the COP28 by John Kerry, US Special Presidential Envoy for Climate.
Eversource will launch financial vehicles to deploy capital in India, Indonesia, Vietnam, and other South and Southeast Asia markets, it said in a release. Investments will address both the supply (renewable energy, energy storage, energy efficiency, waste-to-energy sectors) and demand (e-mobility, urban sustainability, sustainable food and agriculture) sides of an inclusive transition to clean energy.
The India-based climate investment manager has raised and deployed over $740 million via climate impact fund.
Vi, EaseMyTrip tie-up for exclusive deals
Indian telecom operator Vi has partnered with online travel tech platform EaseMyTrip, for exclusive deals in flights, hotels, trains, buses, and cab bookings on the former’s App.
As an introductory offer, there will be zero convenience fees on all flight bookings. Additionally, the users will soon be entitled to get offers on domestic and international hotels, holidays, buses, activities and cab bookings. As part of the association, the users will also be able to avail exclusive benefits on travel-related services such as activities, experiences and holiday packages on the Vi App. In future, users will have access to other value-added services like free airport pick up/drop on flight and hotel bookings at a minimum booking value, it said.
NPCI Bharat BillPay onboards SBI Card under the credit card category
NPCI Bharat BillPay (NBBL), the wholly-owned subsidiary of National Payments Corporation of India (NPCI), has onboarded SBI Card under credit card category of Bharat BillPay.
The other major credit card issuers live under this category are Kotak Mahindra Bank, BoB Financial, Federal Bank, AU Small Finance Bank, IndusInd Bank, and Canara Bank.
SBI Card boasts a customer base of around 1.68 crore. By leveraging Bharat BillPay, SBI Card customers will be able to manage their credit card bill payments across all Bharat BillPay supported payment channels, be it online through bank or payment apps or via the network of Bharat BillPay enabled physical outlets.
Noopur Chaturvedi, CEO, of NBBL said, “Through strategic partnerships with major players in the credit card ecosystem, we’re setting unprecedented standards for accessibility, convenience, and reliability.”
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(L to R) Avinash Sharma and Raghav Rohila, Co-founders of ElectricPe
” align=”center”> (L to R) Avinash Sharma and Raghav Rohila, Co-founders of ElectricPe
ElectricPe opens EV Mobility Centers
has launched virtual and physical mobility centres to simplify EV ownership. At these stores or via the app, customers can identify and test drive E-2Wheelers from a variety of OEM brands before purchase, as well as choose charging solutions for their home or work.
Further, they can take advantage of subscriptions, financing options, and assistance with vehicle exchange, insurance, and registration at the mobility centres. The stores are currently located in Bangalore, with more outlets planned for 2024.
“Mass EV adoption still has two major problems–range anxiety, which we have solved with our dense charging network, and 200+ EV two-wheeler brands to choose from, which creates a lot of confusion. To alleviate this confusion, our mobility centres and online app serve as educational hubs, empowering buyers to make informed decisions aligned with their specific needs,” said Co-founder, and CEO Avinash Sharma.
The mobility stores facilitated the sale of 6% of Bangalore’s EV two-wheelers in October, showcasing a positive impact, the co-founder added.
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