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Agrileaf secures $2 Mn co-led by Capital-A and Samarsh Capital

EntrackrEntrackr · 12m ago
Agrileaf secures $2 Mn co-led by Capital-A and Samarsh Capital
Medial

Agrileaf, a manufacturer and exporter of biodegradable dinnerware, has secured Rs 16 crore (about $2 million) in growth funding co-led by Capital-A and Samarsh Capital. The round also witnessed participation from angel investors, including Shaji Devekar, Siddharth Bafna, the family office of Ved Prakash, Pritie Jain, Sumeet Bhalotia, Dhruv Taneja, and Chiranth Patil. The fresh funds will be utilized to expand its operations in existing markets across the US and Europe, build a consumer-facing brand in India, and enhance production capacity. Co-founded in 2019 by Avinash Rao and Athishay Jain, Agrileaf is an areca leaf tableware manufacturer and exporter, offering top-quality products aligned with eco-friendly values. The company integrates a robust supply chain of areca leaf collection with advanced robotics and AI-driven quality control to ensure high-quality, backyard-compostable products that meet both market and environmental needs. According to market research, the market for biodegradable packaging is expected to reach approximately $140.66 billion by 2029, with a CAGR of around 5.97% from 2024 to 2029. The Mangalore-based company provides a sustainable, high-strength alternative to plastic, paper, and bagasse plates. It intends to support local areca farmers through responsible sourcing and aims to foster a zero-waste, community-centered future with eco-friendly solutions available worldwide. The company targets producing up to 300,000 dinnerware products daily by the end of 2025 and has created over 1,000 jobs, supporting rural economic development. It competes with other players in this space, such as VerTerra Dinnerware, SM Areca Leaf Plate Eco-Friendly Products, and Vegware.

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CRED’s competitor CheQ secures $4.5 Mn

EntrackrEntrackr · 1y ago
CRED’s competitor CheQ secures $4.5 Mn
Medial

B2B credit management platform CheQ has raised Rs 35 crore or $4.2 million in its extended seed round from new and existing investors. The funding for the Bengaluru-based firm came after a gap of 18 months. The board at CheQ has passed a special resolution to issue 12,952 Seed1 cumulative convertible preference shares at an issue price of Rs 26,989 each to raise Rs 35 crore, its regulatory filing accessed from the Registrar of Companies (RoC) shows. 3one4 Capital invested Rs 12.49 crore while Venture Highway Fund and Multiply Ventures pumped in 6.24 crore and 2.08 crore, respectively. Individual investors including Lloyd Dizon Balajadia, Madhav Prakash Sehth, Vishal Gupta, and Deepk Tuli have collectively put in Rs 14.2 crore. As per filings, the company will use these funds for growth, expansion, marketing, and general corporate purposes as decided by the board. In June 2022, CheQ raised $10 million in Seed funding led by Venture Highway and 3one4 Capital. Following the fresh proceeds, 3one4 Capital holds 10.95% of the company while Venture Highway and Multiply Ventures command 11.45% and 2.49% respectively. It’s worth noting that these holdings exclude employee stock options and the firm’s cap table when we factor in the ESOP pool component. According to the startup data intelligence platform TheKredible, the company has been valued at around Rs 451 crore or $55 million (post-money) in the new funding round. Founded in 2022 by Aditya Soni, CheQ helps customers simplify the discovery and management of all credit products and allows you to pay your credit card bill, and EMI on a single platform. The startup has raised $15 million to date including its $10 million seed round led by Venture Highway and 3one4 Capital in June 2022. CheQ remained a pre-revenue stage firm with a revenue of only Rs 2 crore during the fiscal year ended March 2023. However, the losses for the three-year-old firm stood at Rs 19.4 crore in the same period. CheQ competes with fintech unicorn CRED which has secured around $1 billion to date and was valued at $6.4 billion in its last fundraise. According to the startup data intelligence platform TheKredibe, it posted Rs 1,400 crore in revenue with a loss of Rs 1,347 crore during FY23.

GreenFortune secures $4.5 Mn in pre Series A round

EntrackrEntrackr · 8m ago
GreenFortune secures $4.5 Mn in pre Series A round
Medial

GreenFortune, a windows and doors brand, has raised $4.5 million in a pre-Series A round led by Foundamental. Titan Capital Winners Fund and existing investors Incubate Fund Asia & others participated. The proceeds will be used for national expansion, growing volumes, and building PartnerGate, its tech platform. GreenFortune aims to enhance its R&D and technical services for new products and become a complete solution provider for fenestration products. Founded in May 2022 by Dilip Kumar and Pratyusha Kosaraju, the brand offers affordable uPVC products across 100 locations in India. Products are manufactured in India, Germany, and Japan. In July 2023, GreenFortune raised $1 million led by Incubate Fund Asia.

Peak XV-backed TrueFoundry secures $19 Mn in Series A funding

EntrackrEntrackr · 9m ago
Peak XV-backed TrueFoundry secures $19 Mn in Series A funding
Medial

TrueFoundry, an AI deployment and scaling platform, has raised $19 million in Series A funding, led by Intel Capital. Existing investors Eniac Ventures and Peak XV’s Surge, along with new investor Jump Capital and several angel investors, including Gokul Rajaram, Mohit Aron, Cyan Banister, and executives from Fortune 1000 companies, also participated. Avi Bharadwaj, the investment director at Intel Capital, will join TrueFoundry’s board of directors. The Bengaluru and San Francisco-based startup had previously raised $2.3 million in its seed round, led by Peak XV’s Surge, in September 2022. The new funding round will enable TrueFoundry to advance its mission of creating a universal platform for building and deploying AI applications without infrastructure challenges, the company said in a press release. The investment will also support key growth initiatives, such as expanding the team and enhancing go-to-market strategies to drive customer acquisition and business expansion. TrueFoundry offers a cloud-native platform designed to simplify machine learning (ML) training and deployment, enabling enterprises to efficiently manage AI applications. By collaborating with prominent companies such as Games 24x7 and Whatfix, TrueFoundry improves ML scalability and maximizes infrastructure efficiency. “Enterprises using TrueFoundry have built and launched their internal AI platforms in as little as two months, achieving ROI within four months—a stark contrast to the industry average of 14 months,” said Nikunj Bajaj, CEO and co-founder of TrueFoundry. According to the company, its platform integrates with multiple clouds, models, and frameworks, preventing vendor lock-in and ensuring deployments are prepared for emerging AI trends such as RAGs and Agents. This funding round comes after a year of strong growth for TrueFoundry, including a 4X year-over-year increase in customers, the deployment of more than 1,000 ML clusters, and partnerships with global companies like Siemens Healthineers, ResMed, Automation Anywhere, and NVIDIA.

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