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Supermoney raises $3.4 Mn in Series A round

EntrackrEntrackr · 1y ago
Supermoney raises $3.4 Mn in Series A round
Medial

Supermoney, an SME-focused digital lending platform, has raised $3.4 million Rs 28.6 crore in its Series A round from Capital 2B and Capria Ventures. In February 2020, the startup had raised $1 million (Rs 7 crore) from early-stage investor Unitus Ventures. The proceeds will be used to ramp up the platform’s growth and expand disbursements, Supermoney said in a press release. Founded in 2018 by Nikhil Banerjee, Supermoney is a digital platform that provides working capital solutions to businesses by offering customized payment and finance solutions designed specifically for their supply chain. According to the Mumbai-based startup, it has established partnerships with major brands across sectors such as electronics, pharmaceuticals, steel, auto parts, and automotive. Operating in over 40 locations, Supermoney has 30,000 retailers/dealers, over 50 anchors and more than 500 distributors across India on the platform.

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abCoffee raises $3.4 Mn in Series A round

EntrackrEntrackr · 1y ago
abCoffee raises $3.4 Mn in Series A round
Medial

Specialty coffee QSR chain abCoffee has raised $3.4 million in its Series A round led by Nexus Venture Partners, with participation from existing investor Tanglin Venture Partners. Earlier to this round, the startup had raised $2 million in its seed round led by Tanglin Venture in September last year. The proceeds will be used to enable abCoffee to ramp up its supply chain and technology stack to bring on-demand coffee beverages at lower prices in quicker time, abCoffee said in a press release. Founded in 2022 by Abhijeet Anand, abCoffee offers a wide variety of freshly brewed coffees at affordable prices and provides all the traditional blends including Americano, Latte, Flat White, Iced Latte, and Irish Cold Coffee. The company boasts a customer loyalty rate of 61%, nearly double the industry average, reflecting its commitment to exceptional service with a turn around time (TAT) of 1.5 minutes. Recently, the brand opened 25 outlets across Mumbai and Delhi within a span of 20 months. The brand is targeting 150 stores by end of 2024. Its competitors include Third Wave Coffee, Blue Tokai, Rage Coffee, Slay Coffee, Sleepy Owl, and Seven Beans Co., among others.

Biomanufacturing startup Loopworm raises $3.25 Mn in pre-Series A round

EntrackrEntrackr · 16d ago
Biomanufacturing startup Loopworm raises $3.25 Mn in pre-Series A round
Medial

Biomanufacturing startup Loopworm raises $3.25 Mn in pre-Series A round Co-founded in 2019 by Ankit Alok Bagaria and Abhi Gawri, Loopworm is a biomanufacturing startup focused on sustainable protein production using farmed insects. Loopworm, a biomanufacturing company developing insect-derived proteins, has raised $3.25 million in a pre-Series A funding round. The round was co-led by WaterBridge Ventures, an existing investor, and ENRISSION INDIA CAPITAL, a Japanese venture capital firm. The Bengaluru-based company had previously raised $3.4 million in a seed funding round led by Omnivore and others. The proceeds will be allocated towards commercializing its recombinant protein production platform, targeting diagnostics, animal vaccines, and other applications with lower regulatory barriers, Loopworm said in a press release. Loopworm focuses on sustainable protein production using farmed insects. The company has commercialized insect-derived proteins and fats for aquaculture and pet nutrition and is now developing a novel reactor-free recombinant protein production platform using silkworms. Loopworm says it has developed a new approach to producing recombinant proteins—typically created by inserting genes into host organisms like yeast or bacteria to produce proteins of medical or industrial value. Its proprietary process bypasses this entirely by using silkworms as living factories to produce complex proteins, enabling faster, more cost-effective, and sustainable production. The company currently operates a state-of-the-art, 6,000-tonne-per-year insect processing facility in Bengaluru. It exports protein and oil from silkworms and other farmed insects to Europe, South America, and ASEAN countries for use in the aquaculture and pet food industries.

Blume Ventures leads $3.4 Mn round in Zoplar

EntrackrEntrackr · 6m ago
Blume Ventures leads $3.4 Mn round in Zoplar
Medial

Blume Ventures leads $3.4 Mn round in Zoplar In total, Bengaluru-based Zoplar has raised $5.1 million in funding, with contributions from Titan Capital, Stride Ventures, and Panthera Peak. Zoplar, a platform dedicated to enhancing the medical equipment procurement process for small and medium-sized hospitals, has raised $3.4 million in a Series A funding round led by Blume Ventures. The round also saw participation from Beenext, Saison Capital, Atrium Angels, Finfirst, and LogX. In total, the company has raised $5.1 million in funding, with contributions from Titan Capital, Stride Ventures, and Panthera Peak. The proceeds will be utilized to strengthen its operational capabilities by focusing on backward integration in the supply chain and developing a robust service engineering team, Zoplar said in a press release. Co-founded in 2022 by Amit Sah and Umesh Sharma, Zoplar crafts a full-stack medical equipment platform and addresses significant pain points MSME hospitals face, including the complexities of identifying price-optimal products, managing multiple vendor relationships, ensuring high-quality after-sales service, and accessing financing solutions. Since its inception, Zoplar claims that it has gained significant momentum in the market, partnering with approximately 300 hospitals, including prominent nephrology chains such as DCDC. The Gurugram-based company boasts a 40% rate of repeat customers, underscoring the demand for quality medical equipment in the sector.

Zomato-backed AdOnMo raises $7 Mn

EntrackrEntrackr · 1y ago
Zomato-backed AdOnMo raises $7 Mn
Medial

Ad-tech firm AdOnMo has raised Rs 58.21 crore (around $7 million) in its Series B1 round. This is the first major infusion in the Hyderabad-based company after its Series A round led by Zomato last year. The board at AdOnMo has passed a special resolution to issue 36 equity and 4,156 CCPS at an issue price of Rs 1,38,850 each to raise Rs 58.21 crore or $7 million, its regulatory filing with the RoC shows. Healthcare veteran Ravindranath Kancherla and his son Kancherla Pruthvinath injected Rs 16.6 crore while Qatar Insurance Company and ZNL Growth (Z Nation Lab) pumped in Rs 8 crore and Rs 1.80 crore, respectively. Three dozen individual investors including Manish Kailash Chhabra, Vindhya Guduru, Vikram Malhotra, Usha Reddy Chigarapalli, and Desireddy Srinivasa Reddy also invested in AdOnMo’s Series B round. The company will use these investments for business expansion and to meet working capital requirements, according to the filing. According to the startup data intelligence platform TheKredible, AdOnMo has been valued at around Rs 858 crore or $105 million (post-money). During the ongoing fiscal year, the company also raised Rs 20 crore in debt from Northern Arc and Alteria Capital. Founded in 2016 by Sandeep Bommireddi and Sravanth Gajula, AdOnMo is an ad-tech company which provides targeted digital advertising to outdoor digital screens (residential & corporate parks) across 21 cities. As of now, the company has raised around $25 million across rounds including its $15 million round led by Zomato last year. Before this round, Zomato was the largest external stakeholder with a 17.49% stake followed by BAce Capital and Astarc Ventures. AdOnMo grew at a rapid clip in the last fiscal year as its revenue from operations surged four-fold to Rs 75 crore in FY23. Meanwhile, the company’s losses stood at Rs 38 crore in the same period.

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