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Funding

Natural skincare brand Phases raises Rs 30 lakh

Phases, a natural skincare startup based in Davangere, Karnataka, has raised an angel funding of Rs 30 lakh from Shobitam Inc. The funding was secured through Phases’ participation in ‘Indian Angels’, an angel investment show on the OTT platform JioCinema. The funding was secured against a 20% equity dilution.

The startup plans to use the funds to enhance strategic areas like product development, customer experience optimisation, marketing, brand visibility, and growth.

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Phases founder- Sannjana Raghu Amberkar

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Founded in 2021 by Sannjana Raghu Amberkar and her husband Raghu, Phases uses plant-based ingredients and claims to be fragrance-free, vegan, cruelty-free, and sustainable. The products undergo clinical trials and are certified as non-irritant and dermatologically tested. The range addresses common skincare issues like hormonal changes and acne, catering to teens and tweens.

It plans to introduce more products in the future to cater to the skincare needs of teens and tweens.

DigitalPaani secures $1.2M

DigitalPaani, a water management company, has raised $1.2 million in a seed round led by global investors Elemental Excelerator and Indian institutional investors Enzia, Peer Cheque, SAE, DevC, and Bharat Founders Fund. The round also saw participation from angel investors including Ashish Goel, Alok Mittal, Mohit Sadani, and Mohit Tandon.

The startup plans to use the funds to expand its technology to more Indian wastewater treatment plants and explore new markets, thereby unlocking additional sales channels.

Founded by Mansi and Rajesh Jain, the startup offers an IoT-enabled platform that optimises plant operations, reduces downtime, and facilitates water reuse. The platform monitors infrastructure performance, identifies issues, and provides remedial guidance, akin to a medical doctor for water systems.

It functions like a medical doctor, assessing conditions, prescribing dosages, equipment settings, process adjustments, and operator instructions for remediation. The solution ultimately protects the environment by optimising wastewater reuse.

BIA Brands acquires TrueKind 

FMCG player BIA Brands has acquired TrueKind, a clean skincare company. This acquisition marks BIA Brands’ entry into the skincare industry and expands its Beauty and Personal Care (BPC) segment.

The company plans to launch innovative brands based on ancient Egyptian beauty traditions. It offers vegan and cruelty-free products, including, Phyto-Retinol and Peptide Eye Cream.

BIA Brands, a global “House of Brands,” portfolio includes Brew & Bliss, Nut-O-Licious, La Kah Fay, and TrueKind, a skincare brand. The company’s strategic expansion into media and skincare aims to be a versatile and leading player in the global consumer goods industry.

Other News

Nawgati signs MoU with Mahanagar Gas

Nawgati, a Mumbai-based Fuel Aggregator startup, has signed a Memorandum of Understanding with Mahanagar Gas Limited to integrate its MGL Tez app with Nawgati’s Fuel Discovery app.

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Nawgati founder Vaibhav Kaushik and Rajesh Wagle, Sr. Vice President, Mahanagar Gas

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The partnership aims to improve the convenience, accessibility, and efficiency of CNG services for commercial vehicles in the city. This will enhance access and convenience for commercial CNG vehicles. The partnership aims to empower more users to bypass queues, make cashless transactions, and enjoy a tailored service.

The service is currently available at Goregaon-Oshiwara and Ghatkopar BEST Depots, with plans to expand to 13 more depots across Mumbai.