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DaaS platform Swish Club raises $4.5 Mn in pre-Series A

EntrackrEntrackr · 5m ago
DaaS platform Swish Club raises $4.5 Mn in pre-Series A
Medial

Devices-as-a-Service (DaaS) platform Swish Club has secured $4.5 million in a pre-Series A funding round, including $3.3 million in equity and $1.2 million in debt financing. The equity round was led by Powerhouse Ventures, along with participation from Blume Ventures, Founders Fund, Touchstone Ventures, Eternal Capital, and Atrium Ventures. The round also included other investors such as Livspace’s Anuj Srivastava, Ajit Reddy, Deb Dutt, and Tushar Patel. The Bengaluru-based company had previously raised $1.26 million from its existing investors and others. Founded in 2023 by Dushyant Sapre, Suraj Kumar, and Jai Anand, Swish Club is a one-stop solution for enterprise devices, end-point management, and security software. The platform handles the entire lifecycle of a device, from sourcing, configuration, administration, security, and safe returns to upgrades. According to Swish Club, DaaS also allows enterprises and their employees to choose their preferred laptops and smartphones from manufacturers like Apple, Samsung, HP, Dell, and Lenovo and partners with more than 125 enterprises. Swish Club claims to have onboarded over 125 enterprise clients, including Max Life Insurance, Bennett and Coleman, HDFC Life Insurance, PepsiCo, Informatica, Philips, GMR, RPG Group, Landmark Group, and Zensar, as well as startups such as Whatfix, Zetwerk, Meesho, Plum, Allen, Porter, Bold Care, FamPay, Zolvit, Qila Games, and Addverb. "Managing corporate devices is a complex, multi-step process involving procurement, financing, asset management, and eventual recycling. Each step requires different vendors, leading to cost implications, lack of transparency, and multiple back-and-forths. Swish Club is simplifying this with India’s first digital Device-as-a-Service (DaaS) platform, helping businesses remove these depreciating assets from their balance sheets and reduce IT costs from 10% to just 3% of total capex—all with just a few clicks through a dedicated platform," said Dushyant Sapre, CEO & Co-founder of Swish Club. Swish Club states that under its Device-as-a-Service (DaaS) solution, it has introduced India’s first digital platform for laptop rentals for enterprises and smartphone leasing for corporate employees. The enterprise device rental solution comes with four free pre-bundled software solutions: Asset Management Portal (AMP), Mobile Device Management (MDM), antivirus, and device cleaner. In India, Swish Club competes with unorganized players, while at the global level, it faces competition from companies such as Grover and Everphone.

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10 min food delivery startup Swish raises $14 Mn

EntrackrEntrackr · 4m ago
10 min food delivery startup Swish raises $14 Mn
Medial

Exclusive: 10 min food delivery startup Swish raises $14 Mn Swish, a 10-minute food delivery startup, has secured Rs 122.32 crore in its Series A funding round, led by Hara Global Capital and existing investor Accel India. This follows just three months after its $2 million seed round. The board at Swish has passed a special resolution to issue 4,762 Series A compulsory convertible preference shares at an issue price of Rs 2,56,334 each to raise Rs 112.3 crore or $14 million, its regulatory filing accessed from the Registrar of Companies shows. Hara Global Capital led the round with Rs 69.56 crore while Accel India invested Rs 52.18 crore. Kunal Shah-led QED innovation, and Gaurav Munjal (CEO of Unacademy) and Sumer Juneja, investment advisor at SoftBank, participated with Rs 20.5 lakhs, Rs 5 and Rs 30.7 lakh respectively. According to Entrackr's estimates, the company has been valued at around Rs 522 crore or $60 million post-allotment. After the new funding round, Hara Global Capital will own 13.33%, while Accel India will hold a 27.24% stake in the company. Co-founders Aniket Sunil Shah, Sureshkumar Sarana, and Ujjwal Sukheja will each retain a 16.38% share following the Series A round. Founded in 2024, Swish’s 10-minute delivery model operates within a 1.5–2 km radius using cloud kitchens called ‘delight centers,’ ensuring fresh and hygienic food is delivered swiftly through its optimized full-stack approach. Swish is competing in the fast-expanding instant food delivery market, where Zomato, Swiggy, and Zepto are leading the charge. Zomato-owned Blinkit has also launched Bistro, a standalone app for instant food delivery. In December, Bhavish Aggarwal-led Ola entered the segment, while emerging players like Magicpin and Zing are gaining traction. The latest entrant to the space is cloud kitchen unicorn Rebel Foods, which has introduced a new app called QuickiES.

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

EntrackrEntrackr · 7m 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.

The Money Club raises $2.5 Mn in Series A

EntrackrEntrackr · 7m ago
The Money Club raises $2.5 Mn in Series A
Medial

On-demand liquidity platform The Money Club has raised $2.5 million in a Series A funding round led by Prudent Investment Managers. The round also saw participation from HNIs of Singapore and Dubai, 1Crowd AIF, along with its existing investors, including Venture Catalysts, LetsVenture, Z21 Ventures, and Supermorepheus. The company had previously raised $2.54 million from its existing investors. The fresh funds will be deployed toward developing financial inclusion solutions, expanding technological capabilities, and providing financial empowerment to underserved populations, The Money Club said in a press release. Launched in 2018 by Manuraj Jain, The Money Club provides a fully digital platform that offers its new-to-credit users on-demand liquidity without any physical paperwork. The platform is designed to cater to the unmet financial needs of low-income populations, particularly the 400 million lower middle-class Indians who face significant barriers in accessing traditional financial products. According to the Noida-based company, it enables users from across the country to rotate their savings digitally and access funds on demand in times of need. It runs entirely on UPI rails and collects valuable behavioral data, enabling a dynamic, real-time underwriting model that creates accurate credit profiles using more than 30 unique attributes per transaction. This approach provides 20 times more data than traditional credit models, significantly enhancing the previously non-existent digital footprint of nano-entrepreneurs to bring them under the ambit of the formal financial ecosystem. The Money Club claims to have successfully acquired over 7 lakh users, mostly new to credit, who have rotated approximately Rs 350 crore of their savings to date and generated a digital footprint of over 4.3 million transactions. The platform boasts a 98% user retention rate. It may compete directly or indirectly with other companies in this space, such as myPaisaa, Subspace, and Shriram Chits, among others.

Community platform Hack2Skill raises $1 Mn in debt and equity

EntrackrEntrackr · 1y ago
Community platform Hack2Skill raises $1 Mn in debt and equity
Medial

Community platform Hack2Skill has raised $1 million in debt and equity financing round co-led by Recur Club and String Ventures. Founded in 2021 by Samkit Sharma, Hack2Skill is an operator of a hackathon platform intended for communities and corporations to manage hackathons in a better way. The platform features a suite of tools that help communities and corporations to manage hackathons, including registration, team matchmaking, event timeline, internal chat, and more, enabling companies to upskill developers by providing them with a platform to learn new skills, build projects, and earn rewards. Also Read: Recur Club plans to deploy Rs 2,000 Cr in 2024: Interview with Eklavya Gupta Hack2Skill claims to have a community of more than 2.5 million tech enthusiasts and focuses on empowering its community to find innovative solutions collaboratively by organising hackathons, workshops, and boot camps. Recur Club has disbursed over $100 million to over 500 companies, including Ustraa, Rage Coffee, Moveinsync, Keka HR, Xoxodays, and others. Last month, it invested in skincare brand Conscious Chemist.

GreenFortune secures $4.5 Mn in pre Series A round

EntrackrEntrackr · 3m 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.

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