Funding
Legistify raises $4M Series A funding from existing investors
Legaltech SaaS platform Legistify has completed its $4 million Series A fundraise. The round saw participation from existing investors including Indiamart, Titan VC, and GSF, along with US-based Cathexis Ventures, Justin Hamilton, and Japan-based Enrission Group.
“These resources will help us in extending our innovative legal operations solutions to new markets along with helping companies leverage our technology to make effective decisions. This funding not only accelerates our growth but allows us to make a meaningful impact in making justice fast, reliable and accessible to all,” said Akshat Singhal, Founder and CEO, Legistify.
The company will use the funds for product development, international expansion and strengthening the local customer base. The additional capital would primarily be used to develop the recently launched LegisTrak 2.0, Legistify’s flagship platform.
The technology helps companies streamline contract management, centralise matter management, and enforce IP protection. It is used by customers like ICICI Lombard, Whirlpool, IDBI Bank, Coca-Cola, Dabur, Decathlon, and TTK Prestige.
Electric motorcycle startup Raptee raises $3M led by Bluehill Capital
Electric Motorcycle maker Raptee has raised $3 million in a pre-Series A all-equity round led by deeptech VC fund Bluehill Capital.
The round also saw participation from Eugene Mayne, Founder and CEO of Tristar Global (UAE); Lakshmi Narayanan, ex-CEO Cognizant; Ramesh Kannan, Managing Director, Kaynes Technology; Chandu Nair, Director, Shankara Building Products; and other HNIs from India and the UAE.
The funds will be used to improve Raptee’s manufacturing facility, acquire machinery and tooling for its upcoming motorcycle, and scale up the team.
Streetz Hyperlocal raises $1.1M seed round to expand Delhi-NCR operations
High-end fashion and gifts marketplace Streetz Hyperlocal is raising $1.1 million in a seed round at a valuation of $5.88 million. It will primarily use this capital to expand operations to Delhi-NCR and move products in-house.
The company claims to have acquired 1,400 customers at a Customer Acquisition Cost (CAC) of Rs 550 in just one month of launch in Ahmedabad and has delivered over 2,000 orders. The company earlier raised Rs 1 crore at a valuation of $2 million in a pre-seed round.
Autocracy Machinery raises $1.2M seed funding led by Venture Catalysts
Trenching, turf and construction machinery maker Autocracy raised a $1.2 million seed funding led by Venture Catalysts.
The round saw participation from Nikhil and Bharat Jaisinghani (Executive Directors, Polycab India Limited), Meghna Agarwal (CEO, IndiQube), Abhishek Rungta (Partner, Seeders), Srikanth Iyengar (CEO, Workforce Development, upGrad), and Abhishek Modi (Managing Partner Shiva Engg, VP-South Asia chapter, Stanford Seed Network) along with HEM Angels, VC Grid and S Four capital.
The funding will be used to expand Autocacy’s domestic and global distribution operations, invest in R&D, and build out a state-of-the-art industrial unit to enhance and streamline production. Autocracy has clocked a three-fold increase in revenue in past years and aims to achieve revenues of Rs 60 crore by the fiscal year 2025.
“India’s construction equipment industry has experienced rapid growth in recent years and is projected to reach a staggering $160 billion by 2027. This expansion is fueled by a multitude of factors, including government-led infrastructure development initiatives, surges in foreign investments and the flourishing real estate sector,” Dr Apoorva Ranjan Sharma, Co-founder at Venture Catalysts, said.
AltUni Raises $500K from India Angel Network
Edtech startup AltUni by InsideIIM has raised $500,000 from Indian Angel Network and a host of angel investors.
The round was led by IAN along with Vishesh C Chandiok, CEO of Grant Thornton Bharat LLP; Ganesh Balakrishnan, Harsh Parikh, Narayan Babu, Supreet Singh, Ashvin George, Prashant Mohanraj, Shreyans Mehta, Amit Monteiro, Raghav Joshi, Mainak Shome, Bhoopesh Jain, and Sandeep Bhadresa among others.
The funds will be used for further developing its online platforms (insideiim.com, insidekampus.com and AltUni.in). This is the second time the company has raised money after February 2022.
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DIAL4242 raises Rs 1 Cr in a seed funding round
Ambulance service provider DIAL4242 has raised Rs 1 crore in a seed funding round to expand ambulance fleet and reach.
This round was led by investors G Vamshi Raju—Managing Director at Visista Insurance Broking, Starfish Ventures, and other angel investors based in Hyderabad.
“We have demonstrated our capabilities by successful partnership with major players in the gig economy and insurance sector, and delivering ambulances to 5 million plus members in less than 15 mins. The secured capital will be pivotal in expanding our reach and enhancing our services,” said Jeetu Lalwani, Founder, DIAL4242.
Other news
Logistics tech startup COGOS appoints Prasad Katta as Director, COO
Logistics tech startup COGOS has appointed Prasad Katta as its new Chief Operating Officer (COO). Katta has also taken a seat on the Board of Directors at COGOS.
Katta has over three decades of experience and has worked at companies including L’Oréal, Tata Consultancy Services, Western Union (WU), and Wizz Financial (WF). At COGOS, he will oversee business development, operations, legal, people/HR, MIS, and business process improvement.
“We are thrilled to welcome Prasad Katta to our team as both our COO and Director. His exceptional skills and unwavering dedication to innovation and expansion closely align with the vision of our company. As we continue our journey towards pioneering innovation within the logistics industry, we have full confidence that Prasad will assume a pivotal role in driving us toward our objectives,” said Prasad Sreeram, CEO and Co-founder of COGOS.
Sharda University incubator partners with FigFax to launch F&B accelerator
Sharda Launchpad Federation, a business incubator and accelerator, has announced a partnership with FigFax (SnackFax) to launch Sharda Global Food and Beverages Accelerator.
The programme will mentor and fast-track over 50 food brands in the next year had commenced registrations on September 23. As per a statement, only 20 startups will be advancing to the next round in the first cohort.
This programme is open to businesses in food processing, dairy and mechanisation, quick-service restaurants (QSR), dining establishments, poultry, logistics, warehousing, infrastructure and mechanization, packaging, beverages etc.
(This article will be updated with the latest news throughout the day.)
Edited by Kanishk Singh
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