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Elchemy secures $5.6 million in funding Prime Venture Partners, others

Economic Times

Economic Times · 8m ago

Elchemy secures $5.6 million in funding Prime Venture Partners, others

Cross-border specialty chemical distribution platform, Elchemy, has secured $5.6 million in a funding round led by Prime Venture Partners. The Mumbai-based startup plans to use the funds to expand its team in the US, strengthen its technology leadership, and invest in advanced supply chain visibility solutions. Elchemy simplifies the process of sourcing specialty chemicals from India and Southeast Asia for international buyers, facilitating supplier discovery, product quality assurance, and end-to-end fulfillment. The company aims to acquire 100 customers from the North American market over the next year.

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Related News

Elchemy, Beyond Appliances bag VC cheques from Prime Venture, Fireside

VCCircle

VCCircle · 8m ago

Elchemy, Beyond Appliances bag VC cheques from Prime Venture, Fireside

Mumbai-based Elchemy and kitchen appliance startup Beyond Appliances have secured funding from venture capital firms Prime Venture Partners and Fireside Ventures, respectively. Elchemy, a specialty chemical distribution platform, raised $5.6 million in a Series A round led by Prime Venture Partners. The funds will be used to expand its presence in North America and invest in technology enhancements. Beyond Appliances raised $2 million in a seed round led by Fireside Ventures, which will be used to develop its smart kitchen appliances.

Metafin secures $5 million funding from Prime Venture Partners, others

Economic Times

Economic Times · 1y ago

Metafin secures $5 million funding from Prime Venture Partners, others

Clean tech focused NBFC Metafin has raised $5 million in an equity funding round led by Prime Venture Partners and Varanium Capital. The funding will be used to expand across states, improve the loan book, enhance technology and IoT stack, and hire new talent. Metafin specializes in providing rooftop solar loans to small businesses in rural and semi urban areas and aims to address the market gap of providing affordable power solutions to over 5 million rural businesses. The company has raised about $7 million in total funding and aims to reach $12-15 million AUM in the next 12 months.

Sugar.fit secures additional $5M in Series A

Inshorts · 1y ago

Sugar.fit secures additional $5M in Series A

Healthtech startup Sugar.fit has secured an additional $5 million in Series A funding led by B Capital, bringing the total funding raised in the round to $16 million. Existing investors MassMutual Ventures, Tanglin Venture Partners, Endiya Partners, and Cure.Fit also participated in the round.

Healthtech startup Dozee raises $8 mn for global expansion

Inshorts · 4m ago

Healthtech startup Dozee raises $8 mn for global expansion

Healthtech startup Dozee, backed by Prime Venture Partners, 3one4 Capital, among others, has raised about $8.3 million in a mix of equity and debt, sources told Inc42. As per the startup MCA filings, Temasek Trust impact-first investment vehicle C3H infused ₹6.3 crore in the form of equity in the Bengaluru-based startup.

Finova Capital secures Rs 1,135 crore from Avataar Venture Partners, Sofina, Madison India others

Economic Times

Economic Times · 9m ago

Finova Capital secures Rs 1,135 crore from Avataar Venture Partners, Sofina, Madison India others

Jaipur-based lender Finova Capital has raised $135 million in a funding round led by Avataar Venture Partners, Sofina, and Madison India Capital, with participation from Norwest Venture Partners. The funding will be used to expand Finova Capital's loan book, invest in technology, and enter new markets. The company, founded in 2015, offers credit to micro entrepreneurs and semi-skilled professionals who have limited access to credit from traditional financial institutions. Finova Capital has assets under management of INR 3,000 crore and serves around 100,000 customers through a network of 400 branches.

Former Netmagic CEO’s new venture secures biggest seed round in over a year

VCCircle

VCCircle · 1y ago

Former Netmagic CEO’s new venture secures biggest seed round in over a year

Indian entrepreneur Sharad Sanghi, founder and former CEO of Netmagic, has formed a new venture called Neysa. Neysa provides AI cloud and platform-as-a-service to enterprises and has secured $20 million in seed capital, the largest seed round in over a year. The funding round was led by Matrix Partners India, Nexus Venture Partners, and NTTVC. Neysa aims to use the capital to enhance its infrastructure and research and development initiatives. Sanghi, together with former Netmagic executive Anindya Das, launched Neysa in January 2023.

Stock-broking platform Punch raises $7 million from Stellaris Venture Partners, others

Economic Times

Economic Times · 1y ago

Stock-broking platform Punch raises $7 million from Stellaris Venture Partners, others

Punch, a stock-broking platform, has secured $7 million in seed funding from investors including Stellaris Venture Partners, Susquehanna Asia VC, and Prime Venture Partners. The funds will primarily be used for research and development (R&D) and marketing initiatives to enhance user experience. Punch aims to promote responsible trading and plans to introduce cash trading next month. Despite increased regulatory scrutiny on derivative trading, including futures and options, the platform remains popular among young, part-time traders who may underestimate associated risks.

Solar-focussed NBFC Metafin raises $10 million in round led by Vertex Ventures SEA & India

Economic Times

Economic Times · 3m ago

Solar-focussed NBFC Metafin raises $10 million in round led by Vertex Ventures SEA & India

Metafin, a non-banking finance company specializing in solar loans, raised $10 million in equity and debt, led by Vertex Ventures SEA and India, with participation from Prime Venture Partners and others. Founded in 2019, Metafin supports small businesses and households in rural and semi-urban areas, focusing initially on Uttar Pradesh and Bihar. The funds will aid expansion into states like Jharkhand and Odisha, enhancing technology and service infrastructure. Metafin aims for 10,000 installations across 8,000 villages.

Metafin, three others raise early-stage funding from multiple VCs

VCCircle

VCCircle · 1y ago

Metafin, three others raise early-stage funding from multiple VCs

Cleantech-focused non-bank financial company Metafin has raised $5 million in a funding round led by Prime Venture Partners and Varanium Capital. Metafin plans to utilize the funds to expand its presence across states, grow its loan book, improve technology, IoT stack, and hire talent. Cashinvoice, a supply chain finance platform, raised $3.4 million in a Series A funding round from investors including Pravega Ventures and HDFC Bank. Healthtech startup Piscium and home care brand Koparo also secured early-stage funding. Piscium raised $722,994 in a Series A round led by Unicorn India Ventures, while Koparo raised the same amount in a funding round led by 4P Capital Partners.

Exfinity Ventures leads $6.7 Mn Series A round in Aarna.ml

Entrackr

Entrackr · 10m ago

Exfinity Ventures leads $6.7 Mn Series A round in Aarna.ml

Aarna.ml, an open-source GPU-as-a-Service (GPUaaS) AI Cloud software, has raised $1.25 million in Series A funding round from Exfinity Venture Partners. The company had previously raised $6.5 million co-led by NVIDIA, LDV Partners, 3Lines, CARAT Venture Partners, and others back in October 2023. The proceeds will be used to extend its platform to the GPU reference architectures that include high-speed networks and storage, Aarna said in a press release. Co-founded in 2018 by Amar Kapadia and Sriram Rupanagunta, Aarna.ml enables GPU-as-a-service providers and NVIDIA Cloud Partners (NCP) to offer hyper scaler-grade multi-tenant GPU instances with full isolation while leveraging a common underlying GPU pool. It aims to empower the AI Cloud landscape. Aarna claims to have served companies like Tigo, LGE, Equinix, Keysight, CableLabs, and CapGemini Engineering. Exfinity Venture Partners focuses on early-stage B2B investments in deep tech and SaaS. It has backed startups like Autoverse, CloudSek, Cult.fit, Kinara.ai, Locus, Log9, MoEngage, Pixis, Skit.Ai, among others.

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