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Sprect raises angel funding from Siddarth Shetty

EntrackrEntrackr · 1y ago
Sprect raises angel funding from Siddarth Shetty
Medial

Sprect, a C2C consulting marketplace, has raised Rs 50 lakh in angel round from Siddarth (Sid) Shetty, chief business development officer at ServiceChannel. According to Sprect, the funds will be used to ramp up product development, expand its team, drive marketing efforts, and boost sales. Launched by Mohit Khadaria and Vishal Rupani in August 2023, Sprect’s (short for Super Connect) web platform directly connects users with the PROs (Professionals) for one-on-one interactions. Sprect incentivizes PROs to take calls while maintaining their privacy through its comprehensive turnkey system, which streamlines brand building, scheduling, payment processing, and video calls. Sprect’s marketplace caters to a clutch of PROs from renowned companies like Airtel, Google, Times Internet, and WarnerBros.Discovery; educational institutions like IIM, IIT, ISB, and UCLA.

Fintech startup QuiD Cash raises $4.5 Mn in pre-Series A round

EntrackrEntrackr · 1y ago
Fintech startup QuiD Cash raises $4.5 Mn in pre-Series A round
Medial

Supply chain fintech startup QuiD Cash has raised $4.5 million (around Rs 38.23 crore) in its pre-Series A round from a host of angel investors, including Piyush Jain and existing backer MINTCAP. Earlier in 2024, QuiD had raised Rs 5 crore in its pre-seed funding led by Mint Cap Enterprises and Stone Park Capital. The proceeds will be used for technology enhancement and business growth. The firm has also launched QuiD Capital, an NBFC designed to facilitate anchor-led invoice financing. Founded by Subhash Gupta and Vikram AG, QuiD Cash provides tech-based financial solutions through its B2B supply chain platform. It serves around 8,000 users and partners with over 20 major companies in the FMCG, automotive, pharmaceuticals, and agriculture industries. These companies handle transactions worth Rs 50 crore to RS 250 crore every month. The firm operates with a team of 40 employees and plans to expand to 50 people next year. It aims to onboard 5 lakh retailers in the next two years.

Exclusive: Proxgy raises fresh capital from Manish Patel, Nikhil Kamath, Suniel Shetty, others

EntrackrEntrackr · 1y ago
Exclusive: Proxgy raises fresh capital from Manish Patel, Nikhil Kamath, Suniel Shetty, others
Medial

Deeptech startup Proxgy has raised around $2.2 million in a funding round led by Manish Patel. Nikhil Kamath, Suniel Shetty, Kuldeep Mathur, and others also participated in the round. The board at Proxgy has passed a special resolution to issue 13,998 compulsory convertible preferred shares at an issue price of Rs 13,230 each, raising Rs 18.51 crore, according to its regulatory filing accessed by Entrackr from the Registrar of Companies (RoC). Manish Patel has invested Rs 13.23 crore in the company, while Kuldeep Mathur, Bajranj, Nikhil Kamath, Suniel Shetty, Shruthi Bothra, and other individuals contributed the remaining amount. The company will use these funds for capital expenditures, day-to-day expenses, working capital requirements, and growth objectives. According to the startup data intelligence platform TheKredible, Proxgy has been valued at around Rs 140 crore or $16.86 million post-allotment. The Gurugram-based company has also raised Rs 16 crore ($2 million) in a pre-series A round led by LetsVenture, Planify Angel Fund, Mach Tech Fund, and others in October last year. According to the latest filing, Manish Patel holds 3.12% of the company after leading this round. Founded in 2020 by Pulkit Ahuja, Proxgy is a deep-tech startup focused on developing innovative IoT-based solutions. The company also offers smart wearables and safety products designed to enhance workplace safety and efficiency, particularly for blue-collar workers. SmartHat, Sleefe, Lockator, Audiopad, AirHat, and BirdBox are some of the offerings from Proxgy. It was in pre-revenue-stage company until FY23 as its revenue stood at Rs 72 lakh. Meanwhile, the firm posted a loss of Rs 3.2 crore in the same period. The firm is yet to report its annual results for the last fiscal year (FY24).

Inknibs raises pre-seed round

EntrackrEntrackr · 2y ago
Inknibs raises pre-seed round
Medial

Inknibs, a hyperlocal marketplace for books, stationery, and toys, has raised Rs 72.5 lakh in its pre-seed round from Amity Technology Incubator, Industrial Finance Corporation of India (IFCI), JSSATE STEP Incubator, and angel investors Sakshi Aswal and Arcchit Agarwal. The proceeds will be used to enhance its platform, streamline operations, and strengthen its position in the e-commerce market. Founded by Divyanshu Solanki and co-founded by Prajjwal Sinha and Apail Kapoor, Inknibs claims to have emerged as a preferred destination for individuals seeking high-quality books, stationery supplies, and toys. Through its hyperlocal approach, the platform connects customers with local vendors, offering a curated selection of products tailored to their preferences. Inknibs has been in the business of manufacturing school essentials for over six years. Now, it has ventured into the online marketplace. It delivers products in 60 minutes in Noida, Greater Noida, and Crossing Republic (Ghaziabad).

CargoFL raises seed funding round

EntrackrEntrackr · 1y ago
CargoFL raises seed funding round
Medial

CargoFL, a B2B technology ecosystem for logistics, has raised Rs 6.75 crore in its seed round, led by YourNest Venture Capital. The round includes Rs 4.7 crore from YourNest, Rs 50 lakh each from Real Time Angel Fund (RTAF) and Peaceful Progress Angel Fund, Rs 25 lakh from Sanchi Connect Accelerator, and Rs 80 lakh from angel investors, including Dinesh Chandra Agarwal, Dinesh Gulati, Murugavel Janakiraman, and Rajesh Sawhney. The Pune-based company had previously raised $135K from HPCL and others. The proceeds will be utilized to build a sales engine for growth in India, Southeast Asia (SEA), Middle East and North Africa (MENA) and North America, enhance product capabilities, including logistics & supply chain automation, and client onboarding & implementation across geographies. Co-founded in 2017 by Deepesh Kuruppath and Wasim Khan, CargoFL is an AI decision intelligence platform for logistics and supply chain. The company serves as an AI operating system specifically designed for the supply chain and logistics industry with focus on large enterprise customers. It helps companies enhance their logistics operations by leveraging AI to address critical tasks such as transport management, route optimisation, demand forecasting, and real-time tracking. CargoFL focuses on transforming the logistics landscape and aims to empower enterprises with advanced Vertical AI solutions for logistics & supply chain. The company offers a comprehensive operating system for logistics, which fosters seamless collaboration among stakeholders like carriers, distributors, and suppliers. CargoFL provides AI-driven platform tailored for enterprises in retail, pharma and manufacturing sectors. Its current client roster includes over 25 large enterprises, such as Puma, Godrej, Schaeffler, Metro Brands and Decathlon. It aims to achieve an ARR of $3 million over the next 18-24 months by onboarding more than 25 customers in India and several in international markets.

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