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Atomgrid raises Rs 10 Cr in seed round led by Merak Ventures

EntrackrEntrackr · 1y ago
Atomgrid raises Rs 10 Cr in seed round led by Merak Ventures
Medial

Atomgrid, an R&D-first platform for contract development, manufacturing and sourcing of specialty chemicals, has raised Rs 10 crore (around $1.2 million) in its seed round led by Merak Ventures. The round also saw participation from Dexter Ventures, Upsparks, Point One Capital and UniCards’s founders Nitin Gupta and Prateek Jindal. The proceeds will be used to expand its in-house R&D infrastructure, increase global outreach, build a supply chain tech platform and hirings, the firm said in a press release. Founded by Lakshit Bansal, Siddharth Gupta and Pratik Chowdhury, Atomgrid is an R&D first platform for contract development, manufacturing and sourcing of specialty chemicals. The platform aims to empower Indian chemical manufacturers to establish a global footprint by solving critical challenges faced by them on R&D, global outreach, raw material sourcing and tech enablement. Atomgrid competes with 3one4 Capital-backd Scimplifi and Nexus-backed Covvalent. The investment in Atomgrid marks Merak’s third significant investment of the year. Previously, it invested in Farmtheory and Rupyz.

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AbleCredit raises seed round led by Merak Ventures

EntrackrEntrackr · 1y ago
AbleCredit raises seed round led by Merak Ventures
Medial

AI credit underwriting company AbleCredit has raised $1.25 million or about Rs 10 crore in its seed round led by Merak Ventures. The round also saw participation from Venture Catalysts and Helios Holdings (Suraj Nalin). This is the fourth investment from Merak Ventures this year. The proceeds will be used to scale its AI operations, along with business growth and expansion, AbleCredit said in a press release. Founded by Utkarsh Apoorva, Harshad Saykhedkar, Ashwini Prabhu, and Anubhab Bandyopadhyay, the startup is developing generative AI models with voice, vision and language capabilities that function like an AI Assistant to the credit team and can generate credit reports on a case to case basis, while adhering to the Credit Policy and guidelines. AbleCredit’s model can be used even in the informal sector, which forms a bulk of new-to-credit customers, and is extremely data scarce. With this model, AbleCredit claims to have effectively increased underwriting speed by over 20x and decreased underwriting costs by enhancing the throughput of credit processes by 12x. Early-stage venture capital firm Merak Ventures had launched a $100 million fund in November 2022 with plans to invest in up to 20 startups over the next three to four years.

Exclusive: Scimplify scoops up $7 Mn in Series A led by Omnivore

EntrackrEntrackr · 1y ago
Exclusive: Scimplify scoops up $7 Mn in Series A led by Omnivore
Medial

Scimplify, a platform for sourcing and manufacturing of specialty chemicals, has raised Rs 59 crore (approximately $7 million) in its Series A round from new and existing investors. The board at Scimplify has passed a special resolution to issue 17,514 Series A CCPS at an issue price of Rs 33,676 each to raise Rs 59 crore or $7 million, its regulatory filing with the Registrar of Companies shows. Omnivore led the round with Rs 24.7 crore while 3One4 Capital, Beenext Asia, and Bertelsmann participated with Rs 13.56 crore, Rs 5.6 crore, and Rs 14.82 crore, respectively. Entarckr was first to report about Scimplify’s Series A in June. The company has raised around $11 million to date including its $3.67 million seed round from 3one4 Capital and Beenext last year. According to the data intelligence platform TheKredible, Scimplify has been valued at around Rs 320 crore or $39 million post-allotment. Founded in 2023 by Salil Srivastava and Sachin Santhosh, Scimplify is a B2B fulfillment platform operating across the product life cycle from contract research to commercial chemical manufacturing across industries such as pharmaceutical, personal care, and agrochemical. According to the company’s website, it offers emulsifiers, plant growth stimulators, biostimulants, adjuvants, and biofertilizers, among others. The Bengaluru-based firm competes with Atomgrid, which raised $1.2 million in its seed round led by Merak Ventures in May this year. Covvalent, another key player in the space, raised $4.3 million led by Nexus Venture Partners.

Gully Labs raises Rs 8.7 Cr in seed round led by Zeropearl VC

EntrackrEntrackr · 6m ago
Gully Labs raises Rs 8.7 Cr in seed round led by Zeropearl VC
Medial

Gully Labs raises Rs 8.7 Cr in seed round led by Zeropearl VC Sneaker brand Gully Labs has raised Rs 8.7 crore in a seed funding round — comprising Rs 7.6 crore in equity and Rs 1.1 crore in venture debt. The equity round was led by Zeropearl VC along with participation from Untitled Ventures, Atrium Ventures, and other prominent angel investors including Bounce co-founder & CEO Vivekananda Hallekere, Suhasini Sampath, Nishchay AG, Renee Cosmetics founder Ashutosh Valani, Anurag Ramadasan, and Rahul Seth, while Stride Ventures led the debt investment. Prior to this, the company had secured Rs 1.1 crore in equity during its pre-seed round in 2024. The fresh capital will be deployed towards diversifying the product mix, expanding sales channels, and opening physical retail stores, Gully Labs said in a press release. Co-founded in 2023 by Arjun Singh and Animesh Mishra, Gully Labs crafts handmade sneakers, blending premium materials with culturally rich design stories — from Phulkari-embroidered trainers to Onam-inspired silhouettes. Gully Labs sells its products through its website and in select partner stores across Indian metros. The company plans to build a larger production facility, broaden its product line across diverse sneaker styles, and deepen its reach across India and global markets. It also plans to launch exclusive retail outlets as part of its omni-channel strategy.

Wearable startup NeoSapien raises $2 Mn in seed round led by Merak Ventures

EntrackrEntrackr · 17d ago
Wearable startup NeoSapien raises $2 Mn in seed round led by Merak Ventures
Medial

Wearable startup NeoSapien raises $2 Mn in seed round led by Merak Ventures AI wearable startup NeoSapien has raised 2 million dollars (Rs 18 crore) in a seed funding round led by Merak Ventures, with participation from a group of prominent angel investors, including Pixxel founder Awais Ahmed, Anupam Mittal, boAt co-founder Sameer Mehta, Namita Thapar, Aprameya Radhakrishna, and others. The Bengaluru-based startup had previously mopped up $92.4K from Namita Thapar and other investors. The fresh capital will be used to accelerate product development, enhance market visibility, and strengthen the team across functions, NeoSapien said in a press release. Co-founded in 2024 by Dhananjay Yadav and Aryan Yadav, NeoSapien is a next-generation AI company shaping the future of wearable intelligence. Its flagship product, Neo 1, is an AI-native wearable designed to transform everyday conversations into actionable insights. The startup aims to create a new category in personal technology, one that blends adaptive intelligence with human intuition. Neo 1 acts as a Personal AI Assistant, or a “second brain.” The always-on device builds persistent memory, reasons over time, and proactively surfaces insights at the right moment without demanding constant attention. Supporting more than 100 languages, it combines advanced contextual intelligence with hardware innovation, enabling users to capture, process, and organize everyday conversations and actions in real time. NeoSapien says it aims to build the operating system layer for all AI assistants — from glasses and pendants to watches and rings. Its NeoCore SDK will also enable businesses to build applications on top of this core intelligence layer. Managed by Manu Rikhye and Sheetal Bahl, Merak Ventures is a sector-agnostic early-stage venture fund that invests in companies solving real problems and creating large-scale impact in the B2B and emerging technology sectors.

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