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Economy Process Solutions raises $12 Mn in Series A

EntrackrEntrackr · 9m ago
Economy Process Solutions raises $12 Mn in Series A
Medial

Economy Process Solutions, a company specializing in vacuum and process solutions, has successfully raised Rs 100 crore ($12 million) in a Series A funding round led by Stakeboat Capital Fund II. The investment will be directed towards accelerating growth, expanding the range of in-house manufactured products, increasing the company’s global footprint, and entering new categories, particularly in food and beverage solutions. Founded in 2015, Economy Process Solutions offers a diverse portfolio of vacuum systems and process equipment tailored for various industries. Their product lineup includes vacuum pumps, boosters, blowers, and accessories, alongside process equipment such as evaporators, dryers, extractors, reactors, and heat exchangers. Recently, the company has also ventured into the beverage sector, providing solutions for processing, bottling, and packaging. With manufacturing facilities located in Chakan, Pune, Economy aims to enhance its domestic and export business over the next 4-5 years, driven by growth in sectors like waste management, pharmaceuticals, and chemicals. These industries are expected to contribute significantly to their revenue, especially as many major players plan substantial capital expenditures in the near future. Having served over 600 customers across more than 30 countries, Economy Process Solutions is committed to customizing its services to meet customer needs and ensuring timely product deliveries for optimal satisfaction.

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Stakeboat Capital invests in vacuum pump maker Economy Process Solutions

VCCircleVCCircle · 9m ago
Stakeboat Capital invests in vacuum pump maker Economy Process Solutions
Medial

- Stakeboat Capital has invested Rs 100 crore ($11.9 million) in Economy Process Solutions. - Economy Process Solutions plans to use the funds to expand into newer process equipment production and solutions for the food and beverage industry. - The company provides vacuum and process equipment for industrial and manufacturing setups, and recently expanded its product offerings to the food and beverage industry. - Economy Process Solutions' net sales in 2022-23 were Rs 75.3 crore, with a significant portion coming from waste management, pharma, and chemicals industries. - Stakeboat Capital invests in sectors like healthcare, life sciences, value-added industrials and manufacturing, B2B technology, and B2B services.

Startup funding drops 37% on year to $103 million this week

Economic TimesEconomic Times · 9m ago
Startup funding drops 37% on year to $103 million this week
Medial

- Startups raised $103.2 million in funding between October 5 and October 11, a 36.7% decrease from the same period last year. - This week's funding total of $103.2 million represents a 34.1% increase from the previous week's total of $77 million. - In total, startups secured funds through 21 deals this week, compared to 29 deals during the same period last year. - Haber, an AI-driven robotics startup, raised $38 million in a funding round led by Creaegis, with participation from Accel India and BeeNext Capital. - Spry Therapeutics, a SaaS company, secured $15 million in funding from Flourish Ventures and existing investors. - Economy Process Solutions, a vacuum and process solutions startup, raised $12 million in a series A round led by Stakeboat Capital Fund II.

QarmaTek raises $1 Mn in pre-Series A round

EntrackrEntrackr · 1y ago
QarmaTek raises $1 Mn in pre-Series A round
Medial

Electronics renewal and refurbishment startup QarmaTek has secured $1 million (Rs 8.3 crore) in pre-Series A round co-led by Umang Nahata, Rakesh Raman, and Vishal Makwana. Qarmatek has raised a total funding of $4.11 million till date. In 2021, it raised $3 million from Gujarat Venture Finance, Caspian Debt and others. The proceeds will be deployed towards expanding into multiple categories in renewed electronics, scale operations, and grow geographically, QarmaTek said in a press release. Co-founded in 2011 by Krunal Shah and Arun Hattangadi, Qarmatek serves in the B2B space in the retail market segments and provider of after-sale repair services for electronic products. The company offers multi-brand repairing services, refurbishment services, call centre services, network & logistics services, customised & predictive solutions for electronic gadgets like smartphones, laptops, home appliances, and appliance brands. The Ahmedabad-based company aims to promote sustainability by extending the lifecycle of electronic products through renewal and refurbishment, thus reducing e-waste and contributing to a circular economy. According to the Central Pollution Control Board, India generates 1.71 million metric tons of e-waste, compared to the worldwide e-waste generation of 59.40 million metric tons. A study by KPMG and ASSOCHAM shows that computer equipment accounts for almost 70% of e-waste in India, followed by telecom/phones (12%), electrical equipment (8%), and medical equipment (7%).

Clodura.AI raises $2 Mn led by Bharat Innovation Fund

EntrackrEntrackr · 1y ago
Clodura.AI raises $2 Mn led by Bharat Innovation Fund
Medial

Clodura.AI, an innovator in AI-driven sales prospecting solutions, has raised $2 million in its pre-Series A funding round led by the Bharat Innovation Fund with additional backing from Malpani Ventures. This proceeds will be used to fuel the enhancement of Clodura.AI’s platform which uses Large Language Models (LLMs) and generative AI to streamline the sales process from prospecting through to closure. Founded by Kapil Khangaonkar, Clodura.AI helps sales professionals find decision-makers, gather actionable sales intelligence, automate outreach campaigns, and create a 10X sales pipeline. The platform supports sales professionals by providing consistently updated, quality data, enabling precise targeting and effective communication. Clodura.A’s email cadence capabilities help sales professionals generate more interactions and book more meetings. As per the company, it eliminates hours of manual drudgery spent each day on creating and sending sales outreach emails and follow-ups.

Kaleidofin raises $13.8 Mn led by Rabo Partnerships

EntrackrEntrackr · 10m ago
Kaleidofin raises $13.8 Mn led by Rabo Partnerships
Medial

Fintech startup Kaleidofin has raised $13.8 million in a new round led by Rabo Partnerships B.V. Existing backers Michael & Susan Dell Foundation, Oikocredit, Omidyar Network India and Flourish have also participated in the round. This takes the total funds raised by kaleidofin since its inception to $37 million. In May 2022, the Chennai-based startup raised $15 million in its Series B round led by the Michael and Susan Dell Foundation and others in two tranches in the same year. The fresh proceeds will be used to scale its lending portfolio and expand credit scoring, middleware, and risk services through selected partnerships. Led by Sucharita Mukherjee and Puneet Gupta, Kaleidofin offers products such as KaleidoGoals, a goal-based savings solution; KiScore, a supervised machine learning-based automated credit health checking platform for informal sectors; KaleidoCredit, a credit as a platform service for lending and debt capital markets use cases; and KaleidoPay, a suite of inclusive payment solutions. The company claims to have facilitated loan disbursal of cumulatively over $2.7 billion for over 4.7 million customers and small enterprises working in the informal economy, since 2020.

Beyond Snack raises $8.3 Mn in Series A round

EntrackrEntrackr · 6m ago
Beyond Snack raises $8.3 Mn in Series A round
Medial

Kerala-based banana chips brand Beyond Snack has raised $8.3 million in its Series A funding round led by 12 Flags Group, a consumer business-focused fund established by Rakesh Kapoor, the former global CEO of Reckitt Benckiser. Existing investor NAB Ventures also participated in this round, increasing its stake in the company. Japanese VC firm Enrission India Capital and other existing investors, including Faad Network, also joined. Earlier in July 2023, the brand had raised $3.5 million in a pre-Series A round from the NABVENTURES Fund. The proceeds will be used to drive Beyond Snack’s expansion into new territories, add product innovation, and strengthen its supply chain infrastructure. Founded by Manas Madhu, Jyoti Rajguru, and Gautam Raghuraman, Beyond Snack is a plant-based savory snacks brand that produces its banana chips with no artificial colors or flavors. Beyond Snack claims to have expanded its global footprint. Currently available in 12 countries, the brand is exploring new international markets, where it has seen strong demand for its products.

GROWiT raises $3 Mn in Series A round led by GVFL

EntrackrEntrackr · 1m ago
GROWiT raises $3 Mn in Series A round led by GVFL
Medial

Surat-based agritech firm GROWiT has raised $3 million in its Series A round led by GVFL. Other participants in the round include Veloce Opportunities Fund, JITO, We Founder Circle, Sunicon Ventures Fund, Progrowth Ventures, and Hyderabad Angels. The proceeds will be used to expand GROWiT’s market presence, strengthen its research and development, and enhance its technology infrastructure. Founded in 2020, GROWiT offers soil-to-harvest solutions for farmers. Its products include a soil health testing device, mulch films, crop covers, and weed mats. These tools are intended to support farming practices by helping improve productivity and reduce input costs. GROWiT currently operates across 12 states in India and works with over 650 franchise partners. It claims to have engaged with more than 225,000 farmers. GROWiT aims to use the funding to increase its domestic reach and scale its exports to regions in Africa and other markets. It is also focused on building tools that are aligned with changing agricultural needs due to weather and resource shifts.

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