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Defence tech startup Armory Raises Rs 13 Cr led by GrowX Ventures

EntrackrEntrackr · 8m ago
Defence tech startup Armory Raises Rs 13 Cr led by GrowX Ventures
Medial

Defence tech startup Armory Raises Rs 13 Cr led by GrowX Ventures Defence-tech startup Armory has raised Rs 13 crore (around $1.5 million) in a funding round led by GrowX Ventures, with participation from Industrial 47, Antler, AC Ventures, Dexter Ventures, and several angel investors. The proceeds will be used to boost R&D, expand manufacturing, and speed up deployment. Founded in 2024 by Amardeep Singh, Armory develops indigenous counter-drone systems (C-UAS) capable of detecting, tracking, and neutralising rogue drones. Its flagship system, SURGE, has undergone field trials with multiple Indian Army units. The company’s technology is powered by Samaritan OS, an AI-led defence operating system offering real-time adaptability and continuous learning — features missing in traditional systems.

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Space tech startup Ulook raises Rs 19 Cr led by growX and InfoEdge Ventures

EntrackrEntrackr · 3m ago
Space tech startup Ulook raises Rs 19 Cr led by growX and InfoEdge Ventures
Medial

Space-tech startup Ulook has raised Rs 19 crore (approximately $2.3 million) in a funding round co-led by GrowX Ventures and InfoEdge Ventures. Ulook develops autonomous satellite swarms designed for radio-frequency (RF) sensing and spectrum awareness. The technology enables detection, tracking, and analysis of activity on the Earth’s surface and in contested environments where traditional optical or radar methods may not function effectively. The proceeds will be used to further its satellite and sensor development, expand its RF-sensing platform capabilities, and accelerate go-to-market efforts for data intelligence services. Ulook competes with other space-tech and earth-observation firms such as Pixxel, Satsure, Astrome, and Skyroot Aerospace, particularly in areas of sensor innovation, satellite deployment, and data-as-a-service models. The company plans to deploy its first satellite swarms within the next 12-18 months and target clients in defense, security, infrastructure monitoring, telecommunications, and national spectrum-management segments.

Lissun providing mental, emotional health solutions raises $1.3M led by IPV, Rainmatter, others

IndianStartupNewsIndianStartupNews · 2y ago
Lissun providing mental, emotional health solutions raises $1.3M led by IPV, Rainmatter, others
Medial

Gurgaon-based startup Lissun, specializing in mental and emotional health solutions, secured $1.3 million in seed funding, led by Inflection Point Ventures and Rainmatter Capital, a Zerodha subsidiary. Existing investors IvyCap Ventures, WFC, Growx Ventures, and angel investors also participated. Lissun will use the funds to enhance technology, expand services, and establish partnerships with healthcare institutions. Founded in 2021, Lissun offers tech-enabled mental health solutions, including therapy and guidance. They aim to address mental health challenges at scale, with over 15,000 paying customers and 30,000 therapy sessions conducted in 30 Indian cities.

Marine robotics startup EyeROV raises Rs 13 Cr in pre-Series A round

EntrackrEntrackr · 20d ago
Marine robotics startup EyeROV raises Rs 13 Cr in pre-Series A round
Medial

Marine robotics startup EyeROV has raised Rs 13 crore ($1.44 million) in a pre-Series A funding round co-invested by AWE Funds and Unicorn India Ventures. The proceeds will be used to accelerate research and development, support new product innovation, and expand its presence in India and international markets. Founded in 2017, EyeROV operates in the marine robotics and underwater inspection segment, developing remotely operated vehicles (ROVs) and unmanned surface vessels (USVs) for infrastructure, energy, and defence applications. The firm claims to have executed over 150 projects for more than 80 clients across power, oil and gas, ports, shipping, and government sectors. EyeROV’s client base includes organisations such as Tata Power, NHPC, Adani, ONGC, BPCL, and Maersk, along with government and defence bodies including the Indian Navy, DRDO, and the Indian Coast Guard. The startup has also recently secured an order worth Rs 47 crore from the Indian Navy. EyeROV integrates non-destructive testing (NDT) payloads such as ultrasonic testing, sonar imaging, and AI-based inspection tools into its robotic systems. It serves sectors including power, oil and gas, ports, infrastructure, marine research, and defence, offering both product sales and robotics-as-a-service (RaaS) models.

Quicklend raises Rs 6.75 Cr in pre-seed round

EntrackrEntrackr · 1y ago
Quicklend raises Rs 6.75 Cr in pre-seed round
Medial

Quicklend, a secured lending platform, has raised Rs 6.75 crore (around $774K) in its pre-seed round led by Inuka Capital, Eximius Ventures, Upsparks Capital, GrowX, and a group of strategic angel investors. The proceeds will be used to scale its operations, enhance its technological capabilities, and introduce innovative features that redefine the lending experience. The company is set to allocate significant resources towards research and development. Founded by Arunkumar Jadhav, Abhishek Uppala, and Raghuram Trikutam, Quicklend offers fast, transparent, and easy lending solutions for borrowers while equipping lenders with advanced portfolio management tools. The Bengaluru-based startup also launched its Loan Against Mutual Funds (LAMF) product in collaboration with Bajaj and a consortium of prominent NBFCs. LAMF is a loan that enables borrowing by pledging Mutual Fund units as collateral. Similar to other asset-backed loans, it offers financial flexibility with the added advantage of a fully digital process.

Deep-tech startup AquaAirX raises Rs 12.5 Cr in seed round led by Rainmatter

EntrackrEntrackr · 27d ago
Deep-tech startup AquaAirX raises Rs 12.5 Cr in seed round led by Rainmatter
Medial

Deep-tech startup AquaAirX has raised Rs 12.5 crore in a seed funding round led by Rainmatter, the investment arm of Zerodha, founded by Nithin Kamath. The round also saw participation from Prime Venture Partners, Wyser, and India Accelerator. The proceeds will be used to strengthen the company’s core technology, including system autonomy, air-to-water transition reliability, sensing and communication capabilities, and to expand its engineering and research teams across robotics, autonomy, controls, and embedded systems, AquaAirX said in a press release. Co-founded in 2024 by Jitendra Kumar Purnmal Saini and Gouthami T S, AquaAirX is a deep-tech startup building next-generation autonomous amphibious and underwater robotic systems for defence and high-value commercial applications. The company develops amphibious drones capable of seamless transitions between aerial flight and submerged operations, along with a proprietary Hovering Autonomous Underwater Vehicle (HAUV) platform. In addition to its amphibious drone platform, AquaAirX is developing the HAUV for precise underwater inspection, monitoring, and intervention, targeting defence and high-value commercial use cases. According to the Bengaluru-based startup, it combines advanced autonomy, robotics, and mission-centric design to address critical gaps in maritime intelligence, surveillance, and reconnaissance, enabling safer, faster, and more cost-effective operations. The company works closely with defence and strategic partners and aligns with India’s vision for indigenous, future-ready defence technologies. Looking ahead, AquaAirX plans to deepen collaborations with Indian and international defence partners, scale up large-scale trials, and prepare for manufacturing, with the goal of entering defence and commercial markets by 2027. Over the past 12 months, the company has achieved Technology Readiness Level (TRL) 6 for its flagship amphibious platform.

growX makes 17X return on partial exit from Google-backed Pixxel

EntrackrEntrackr · 9m ago
growX makes 17X return on partial exit from Google-backed Pixxel
Medial

growX Ventures Fund has reported a partial exit from space tech firm Pixxel, marking the first liquidity event for its $25 million Fund I. The exit delivered a 17X return on invested capital and an internal rate of return (IRR) of 68% over a 5.5-year investment period. Despite this exit, growX retains a significant stake in Pixxel. Founded in 2019 by Awais Ahmed and Kshitij Khandelwal, Pixxel is developing a constellation of high-resolution hyperspectral imaging satellites for sectors like agriculture, mining, energy, and environmental monitoring. The startup has raised $95 million across nine funding rounds, with notable backers including GIC, Google, Radical Ventures, and Seraphim Capital. A commercial rollout is slated for later this year, with the launch of the initial six-satellite constellation. Launched in 2019, growX Fund I focuses on early-stage B2B tech startups across sectors such as deep tech, fintech, SaaS, healthtech, and space tech. It holds positions in companies like Bellatrix Aerospace, Progcap, Zuddl, and Lightspeed Photonics.

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.

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