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Agraga raises Rs 100 Cr in pre-Series B led by Bajaj Finserv Group

EntrackrEntrackr · 9d ago
Agraga raises Rs 100 Cr in pre-Series B led by Bajaj Finserv Group
Medial

Agraga raises Rs 100 Cr in pre-Series B led by Bajaj Finserv Group Digital freight forwarder Agraga has raised Rs 100 crore (around $12 million) in its pre-Series B round led by Bajaj Finserv Group, with participation from existing investor IvyCap Ventures and select global angel backers. Agraga had earlier raised Rs 70 crore in its Series A round in May 2023, led by IvyCap Ventures with participation from Alteria. The proceeds will be used to expand its cross-border logistics platform, strengthen its LCL (Less-than-Container Load) vertical, scale automation and visibility tools, and deepen its presence across major export hubs. Founded in 2021, Agraga provides a unified platform that integrates freight booking, customs, warehousing, and embedded financial services. The firm aims to simplify cross-border logistics for MSMEs and mid-market enterprises by offering real-time pricing, tracking, and compliance workflows. Agraga claims to have built its stack around four layers which includes discovery, tracking, execution, and data-driven decision-making. Agraga serves more than 700 customers and 1,000 vendors across 40 global trade lanes. It also partners with financial institutions including ICICI Bank and IDFC First Bank. Its subsidiary Byteport Logistics focuses on channel-partner aggregation for MSME and LCL customers. Bajaj Finserv backs Indian startups through its corporate venture arm, Bajaj Finserv Ventures, and its newer alternative investment subsidiary, with a focus on fintech, healthcare and technology.

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KisanKonnect raises Rs 72 Cr led by Bajaj Finserv Group

EntrackrEntrackr · 2m ago
KisanKonnect raises Rs 72 Cr led by Bajaj Finserv Group
Medial

KisanKonnect raises Rs 72 Cr led by Bajaj Finserv Group Farm-to-fork company KisanKonnect has raised Rs 72 crore (around $8 million) in a pre-Series B funding round led by Bajaj Finserv Group, with participation from Mistry Ventures, Desai Foods, Dhanuka Agritech, and Action Tessa Family Office. In May, KisanKonnect raised $4.5 million in a Series A funding round led by Mistry Ventures. The fresh proceeds will be used to scale its fresh produce supply chain intelligence and omni-channel D2C model. Co-founded in 2020 by Vivek and Nidhi Nirmal, KisanKonnect sources directly from farmers and delivers to over 1 lakh customers in Mumbai and Pune through its app and farm stores. It works closely with farmer communities to grow food sustainably while leveraging proprietary technology to deliver fresh vegetables and fruits. Vivek Nirmal, co-founder, said, “We have built proprietary tech tools and strong farmer partnerships that transform perishables logistics into a predictable, scalable, and consumer-friendly model. This fundraise will help us expand our technology stack, deepen our farmer network, and scale both our digital and offline presence.” KisanKonnect has developed supply chain intelligence tools covering IoT and RFID-based traceability, AI-driven demand forecasting, a farmer advisory app, and real-time dashboards, allowing it to handle over 650 SKUs of temperature-sensitive produce while reducing wastage. Its digital app caters to younger customers with 60-minute delivery across Mumbai and Pune, while KisanKonnect Farm Stores serve those who prefer to shop offline.

EV battery manufacturer Neuron Energy raises Rs 31 Cr in pre-Series B round

EntrackrEntrackr · 2d ago
EV battery manufacturer Neuron Energy raises Rs 31 Cr in pre-Series B round
Medial

EV battery manufacturer Neuron Energy has raised Rs 31 crore ($3.5 million) in a pre-Series B funding round co-led by Equanimity Ventures, Rajiv Dadlani Group, Thackersay Family Office, and Chona Family Office, along with participation from other family offices and HNI investors. The Mumbai-based company had previously raised Rs 20 crore in a Series A round co-led by the Chona Family and Capri Global Family Office in August last year. With this pre-Series B investment, Neuron Energy has raised a total of Rs 80 crore to date. The fresh capital will be used to expand its manufacturing capacity to 3 GWh and establish a fully automated, state-of-the-art facility for electric four-wheelers and buses. It will also be used to strengthen R&D capabilities, accelerate domestic growth, and expand the company’s footprint in international markets, Neuron Energy said in a press release. Founded in 2018 by Pratk Kamdar, Neuron Energy manufactures electric vehicle (EV) batteries and offers a wide range of mobility solutions powered by advanced lithium-ion technologies. The company is also actively developing next-generation sodium-ion solutions. It focuses on quality, innovation, and sustainability, aiming to drive the next wave of growth in India’s clean mobility sector. Neuron Energy said it has developed smart battery management systems and innovation-led products, and that its new facility reinforces its leadership in the two-wheeler EV battery segment. The company also plans a strategic entry into heavier vehicle categories. Neuron Energy added that it operates on a low-CapEx and low-OpEx business model, enabling strong operating leverage. The company claims to have been growing profitably year-on-year and is on track to achieve Rs 200 crore in revenue this year. It aspires to surpass Rs 900 crore in sales, with continued profitability, over the next few years.

ProcMart raises Rs 25 Cr in pre-Series B round

EntrackrEntrackr · 1y ago
ProcMart raises Rs 25 Cr in pre-Series B round
Medial

Business-to-business procurement marketplace ProcMart has raised Rs 25 crore ($3 million) in its pre-Series B round from Sixth Sense Ventures India. The board at ProcMart has issued 5,933 pre-series B CCPS at an issue price of Rs 42,127 each to raise Rs 25 crore, its regulatory filing soured from the RoC shows. Previously, the startup had raised $10 million in its Series A round led by Sixth Sense Ventures in November 2022. Following the fresh proceeds, Sixth Sense became the largest external stakeholder with 30% stake in ProcMart while its founder and chief executive officer Anish Popli will command 41.76% of the company. As per the startup data intelligence platform TheKredible, the latest capital injection has been done at a valuation, which is Rs 275 crore. Founded in 2015 by Anish Popli, the IndiaMART-backed startup provides supply chain solutions and infrastructure to businesses including services such as purchase order management, contract administration, master data management, e-catalogue management and market intelligence. ProcMart’s clients include Colgate, Mondelez, Harman, and Vedanta. It has 13 offices in India and one in Malaysia. The company also launched white-label in 2022 to provide construction equipment. The Noida-based company recently announced a strategic collaboration with local vendors in the biomass briquettes and pellets manufacturing sector. It competes with Lightspeed Ventures-backed Udaan in the B2B supply chain space.

MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round

EntrackrEntrackr · 7m ago
MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round
Medial

MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round Drone technology startup Garuda Aerospace has raised Rs 100 crore ($11.6 million) in its Series B funding round led by Venture Catalysts (VCAT) at a post-money valuation of $250 million. Previously, the firm had raised $22 million in its Series A round led by Venture Capital firm SphitiCap in February 2023. The fresh proceeds will be used to scale up drone manufacturing, enhance production capabilities, and complete an R&D and testing center focused on defense drone technology. Founded in 2015 by Agnishwar Jayaprakash, Garuda has grown to a team of over 200 members and manufactures 30 drone types while offering 50 services. Garuda currently holds over 20 patents and operates a fleet of over 400 drones with 500 trained pilots across 84 cities. It serves clients including government agencies and major corporations such as TATA, Reliance, and Adani. It has also partnered with global companies like Lockheed Martin and Elbit Systems. As per TheKredible, Garuda Aerospace’s revenue from operations grew by 2.3X to Rs 110 crore in FY24 from Rs 47 crore in FY23. Its net profit reached Rs 16 crore in FY24, a 2.7X increase from Rs 6 crore in the previous year. Garuda competes with the likes of ideaForge, Aarav Unmanned Systems, Throttle Aerospace Systems, General Aeronautics, and Omnipresent Robot Tech in the drone manufacturing and drone-as-a-service (DaaS) segment across defense, agriculture, and industrial applications.

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