Funding news
TABPS Pets raises Rs 6.5Cr in funding
Pet food company says it has raised Rs 6.5 crore in funding renowned cricketers Hemang Badhani and KS Bharath, among other investors.
The company said it will use the funds to better its production capabilities, expand its distribution networks, and invest in R&D to launch new products.
TABPS was launched in 2021 by Prabhu Gandhikumar and Brindha Prabhu, along with other co-founders — Soumya Malani and Arun Mukherjee. It is a Coimbatore-based pet food startup that uses Ayurvedic ingredients to formulate pet products.
Biotech startup Vgenomics raises seed funding
Healthcare and biotech startup Vgenomics says it has raised an undisclosed amount in a seed round led by Mumbai Angels and O2 Angel Network.
Prominent angels such as Rohit Chanana and Sabine Kapasi also participated in the round, the company said.
Vgenomics says it plans to use the funds to scale its existing business, as well as create more diagnostic solutions.
The startup, founded by Rahila Sarda, Preeti Gupta Lal and a team of women scientists, develops diagnostic and therapeutic genome sequencing technologies for rare diseases that affect children.
Its clients include researchers and clinicians from AIIMS, Dr Shroff and PGIMER, among others, it said.
“This will help us in uniting organisations dedicated to rare diseases, and establish Vgenomics as the one-stop hub for rate disease solutions,” said Sardar, Vgenomics’ Co-founder and CEO.
Adya-ai raises Rs 10.5Cr
Digital commerce solution startup Adya.ai said it has raised Rs 10.5 crore in a pre-series A funding round from ‘s (IAN) investors, as well as other strategic investors.
IAN’s investors contributed Rs 3.75 crore, while the rest came from other strategic investors, the company said.
Founded in 2023 by Shayak Mazumder, CEO and CTO, Archana Mazumder, COO, and Angad Singh Ahluwalia, CBO, Adya.ai is a technology service partner that uses data science and AI to help businesses digitise. It also offers solutions for ONDC integrations, including plug-and-play tech stacks.
InPrime Finserv raises $3M
Tech-led NBFC InPrime Finserv says it has raised $3 million in a Series A round led by , as well as existing investors such as , , and Kettleborough VC.
The company plans to utilise the funds to bolster its team in key areas such as risk, engineering, analytics, and sales roles. Additionally, the funds will be allocated towards the development of new digital channels and a credit scoring model, and expanding its loan portfolio.
“With the ongoing digital revolution in India, our objective is to provide these customers with superior products and services, ushering in a technology-led financial inclusion 2.0 for informal economy customers at scale,” says Rajat Singh, Co-founder and CEO of InPrime.
InPrime was founded in 2021 by Singh, Manish Raj and Sneh Thakur, former members of the leadership team at Ujjivan Small Finance Bank.
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Other news:
Digit Insurance launches add-on insurance coverage for EVs
Online insurance company says it has launched an EV add-on cover insurance policy for four and two-electric wheelers.
The policy will also cover hybrid vehicles.
The add-on cover presents customers with three optional protections, covering the charging point of EVs, the associated electrical panel, and the vehicle charger with its charging cable, while also offering a portable mobile generator to recharge EVs stranded on the road due to depleted battery levels.
“The severity of damage among EVs can be higher and the repairs for the same can be costly due to expensive components and need for specialised automotive technicians. The specialised add-ons along with additional coverages will provide EV owners the much-needed protection and address the nuanced issues of electric vehicles,” said Mayur Kacholiya, head of motor product at Digit General Insurance.
PedalStart launches offline, outcome-driven acceleration programme
Startup community builder has launched PedalCircle, an outcome-driven offline acceleration programme focussed on helping companies move from their proof-of-concept stage to their first round of investments.
The programme will provide startups access to industry mentors, infrastructure, growth capital, and knowledge to help them fast-track their progress.
The three-month-long course will feature 25 founders in the early stages of their entrepreneurial journey.
By the end of the programme, a handful of startup founders will receive up to $250,000 in funding from the PedalStart Network, the company said.
AI skilling startup GrowthSchool’s revenue jumps 400%
Generative AI-focussed upskilling platform GrowthSchool says its revenue has grown 400%, year-on-year, since its inception.
The startup added it has hit a peak of Rs 5 crore in monthly revenue, with more than a million learners already benefiting from its educational services.
GrowthSchool aims to achieve a $1 million monthly run rate by FY2024. Currently, 10% of the company’s revenue comes from learners outside India, and it is gearing up for a formal entry into global markets such as North America, Southeast Asia, and the Middle East in 2024.
(This article will be updated with the latest news throughout the day.)
Edited by Affirunisa Kankudti
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