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Funding news

Sports tech startup Spolto surpasses $1M funding 

Indo-Swedish sports tech startup Spolto has concluded its latest funding round, raising $1 million (approximately Rs 9 crore) to date.

Founded in 2021 by Safa Soltani, with Divesh Nathani as Partner & COO, the startup aims to fuel access to sports across urban India.

The recent funding round brought in an investment of $160K (Rs 1.35 crore), led by Andrew Johnston, Co-founder and CEO of LetsShare, a Sweden-based venture. Johnston, an entrepreneur with a deep passion for sports, saw tremendous potential in Spolto’s vision to revolutionise India’s sports landscape.

The recent funding round brought in an investment of $160,000 (Rs 1.35 crore), led by Andrew Johnston, Co-founder and CEO of LetsShare, a Sweden-based venture.

“India represents a massive opportunity in the world of sports and technology. The country’s vibrant sports culture and technological advancements present an unprecedented landscape for growth and innovation. Spolto is at the forefront of this transformation, and I am excited to support their vision and journey,” said Johnston.

The funding round also drew investments from sports enthusiasts and entrepreneurs across India and Sweden.

Valyx bags $800,000 in pre-seed round co-led by Huddle Ventures and Waveform Ventures 

AI-powered B2B revenue and receivables automation platform Valyx has raised $800,000 in a pre-seed funding round co-led by Huddle Ventures and Waveform Ventures.

The funding round also saw participation from Bharat Founders Fund and Propell Fund (LetsVenture’s in-house VC fund led by Shanti Mohan). The Bengaluru-based startup will use the raised capital to recruit top talent for its sales team and expand its engineering team to enhance product development.

Founded in late 2023 by Avishek Ray and Anirudh Bhargava, Valyx streamlines billing and receivables to speed up payments, accelerate financial close, and enhance cash flow for businesses. Its feature set includes rate card management, usage-based billing, collections, and cash application, among others. 

GenZ-focused 60-minute clothes delivery app Slikk raises $300,000

Slikk, a 60-minute clothes delivery platform has raised $300,000 in a pre-seed round led by Better Capital and supported by Untitledxyz Ventures.

This funding will enable Slikk to scale to over 100 brands, set up a large-format dark store, and expand delivery coverage to 70% of Bangalore’s pincodes. Additionally, Slikk plans to grow into other major cities in India and diversify its offerings to include beauty, personal care, and home decor.

“GenZs and young millennials today are extremely impulsive shoppers and the biggest TG for fast fashion brands. This impulse is driven by high frequency refreshment of trends/designs and faster delivery. Slikk intends to solve this problem by bringing in new trends and designs from upcoming fast fashion brands every week and a delivery timeline of 60 min which will give an altogether different shopping experience to customers compared to legacy fashion marketplaces,” saidAkshay Gulati, CEO and Co-Founder of Slikk.

Other news

Wellbeing Nutrition names Harleen Bhatti as VP D2C, Kunwarjeet Singh Grover as Head of Growth

Wholefood nutrition brand Wellbeing Nutrition has onboarded Harleen Bhatti as Vice President of Direct-to-Consumer (D2C) and Kunwarjeet Singh Grover as Head of Growth. 

This move aims to propel the company toward achieving over 100% year-on-year growth and reaching an annual recurring revenue (ARR) of Rs 240 crore, the company said in a statement. 

“We are thrilled to welcome Harleen and Kunwarjeet to our leadership team. At Wellbeing Nutrition, our mission has always been to make high-quality, transparent, and sustainable nutrition accessible to everyone. As we aim for unprecedented growth, it’s crucial to have leaders who not only understand our vision but also have the expertise to execute it,” said Avnish Chhabria, Founder of Wellbeing Nutrition. 

In her previous role at The Good Glamm Group, Harleen Bhatti led online marketing, CRM, and product-led growth initiatives for several well-known brands, including Lenskart, and CureFit.

Kunwarjeet Singh Grover brings over 13 years of expertise in online marketplace management, e-commerce, and business development. Prior to this, he served as the  Senior Vice President at Honasa Consumer Ltd., leading the P&L of the marketplace business for brands like Mamaearth, The Derma Co, and Bblunt.

Aisle Founder launches social health tech platform Jamm

Able Joseph, founder of dating app Aisle has launched his latest venture Jamm, a social health tech platform. The platform aims to address the increasing urban loneliness by engaging fun and intimate offline interactions. 

“As Tinder and Bumble gained traction in India, I noticed that people weren’t using these apps to find dates —they were craving casual conversations to combat loneliness. With limited social interactions at work and too much drama among friends and family, loneliness was spreading quickly. The solution was clear: a platform for self-hosted, self-curated, free, activity-based, intimate gatherings. That’s what Jamm is all about,”said Able Joseph, Founder of Jamm. 

Jamm aims to offer an offline social network for spontaneous, agenda-free meetups. Central to Jamm is the “Jamm” concept—small, curated gatherings of up to eight people, ensuring an intimate and manageable setting where participants can engage in fun activities and build meaningful relationships.

(The copy will be updated with the latest news throughout the day)