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EtherealX raises $5 Mn in seed round led by YourNest

EntrackrEntrackr · 1y ago
EtherealX raises $5 Mn in seed round led by YourNest
Medial

Spacetech startup EtherealX has raised $5 million in its seed round led by YourNest and saw participation from BIG Global Investments JSC, BlueHill Capital, Campus Fund, and Golden Sparrow Ventures, Karan Bhagat & Yatin Shah from IIFL Wealth, Kiran Shetty, and Akhilesh Agarwal. The proceeds will be used to develop the engines for their fully reusable medium-lift launch vehicle. In February this year, the startup had raised its first institutional funding from Campus Fund, BlueHill Capital and Riceberg Ventures. Founded in 2022 by Shubhayu Sardar, Manu Nair and Prashanth Sharma, EtherealX is attempting to build reusable rockets that bring both the stages of the rocket back into earth after flight. Currently, Elon Musk’s SpaceX is the only major rocket maker that commercially operates orbital launches using reusable rockets, particularly in the medium-lift and heavy-lift category. Among the startup’s plans is Razor Crest Mk-1, aimed to be the world’s first fully reusable medium-lift launch vehicle. The model is designed to dispatch payloads of up to 24.8 tonnes to the Lower Earth Orbit (LEO) in expendable configuration, 22.8 tonnes in partially reusable configuration, and 8 tonnes in fully reusable configuration to 400 kilometres LEO.

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UptimeAI raises $14 Mn in Series A round

EntrackrEntrackr · 1y ago
UptimeAI raises $14 Mn in Series A round
Medial

Artificial intelligence startup UptimeAI has raised $14 million in its Series A funding round led by WestBridge Capital. The round also saw participation from existing investor Emergent Ventures and new investor Aditya Birla Ventures. UptimeAI will use the proceeds to scale up its tech platform, expand product portfolio and presence in North America, Middle East and Asia. The company has bases in Bengaluru and San Francisco as well. Five-year-old UptimeAI creates AI-based solutions that help plant operators maximise efficiency and reliability. As per the company, its team has core competency in areas including power, oil and gas, chemicals, metals, and aerospace among others. UptimeAI’s four modules include – connect the dots, no code predictive alerts, inferencing engine for prescriptive actions, and continuous self-learning. It has a patented system and method for monitoring complex structures to identify the root cause of inefficiencies. In September last year, Bharat Petroleum Corporation Limited (BPCL) tied up with UptimeAI to optimize operational efficiency. Led by Jagadish Gattu and Vamsi Yalamanchili, UptimeAI was one of the selected startups in the YourNest SOAR Program. In February 2021, UptimeAI also raised $1.5 million in seed funding from YourNest Venture Capital and angel investors. UptimeAI competes with Tiger Global-backed Infinite Uptime, which raised $18.85 million in a round in May last year. Other global competitors include Sight Machine , Prospection SparkCognition, and Augury.

Spacetech startup Ethereal Exploration Guild raises $20.5 Mn in Series A round

EntrackrEntrackr · 16d ago
Spacetech startup Ethereal Exploration Guild raises $20.5 Mn in Series A round
Medial

Spacetech startup Ethereal Exploration Guild raises $20.5 Mn in Series A round Space technology company Ethereal Exploration Guild (EtherealX) has raised $20.5 million in Series A funding round co-led by TDK Ventures and BIG Capital, with participation from Accel, Prosus, YourNest Venture Capital, BlueHill Capital, Campus Fund, and Riceberg Ventures. The proceeds will be used to develop a first fully reusable medium-lift launch vehicle, the Razor Crest Mk-1. Co-founded in 2022 by Manu J. Nair, Shubhayu Sardar, and Prashanth Sharma, EtherealX aims to take on SpaceX with a medium-lift launch vehicle called Razor Crest Mk-1. The rocket, designed to be fully reusable, is expected to place up to eight tonnes into low Earth orbit and will also be capable of delivering payloads to geostationary transfer and trans-lunar injection orbits. According to the Bengaluru-based startup, it is currently building a fully reusable medium-lift (25-tonne) launch vehicle. Razor Crest Mk-1 – the medium-lift fully reusable launch vehicle under development, can carry up to 24.8 tons into Lower Earth Orbit (LEO) and up to 10.8 tons into the Geosynchronous Transfer Orbit (GTO). Ethereal aspires to disrupt the launch market by lowering orbital transport costs to a target range of $500–$1,000 per kilogram. The startup uses in-house simulation tools and test infrastructure, which together contribute to better overall vehicle reusability and shorter development cycles. The company claims to have manufactured its 80kN upper-stage reusable engine (Pegasus) and has signed collaboration agreements with the Indian National Space Promotion and Authorization Centre (IN-SPACe), ISRO, and other national space agencies, as well as commercial satellite operators, launch aggregators, and launch ports globally.

Superfone raises $1.9 Mn in pre-Series A round

EntrackrEntrackr · 1y ago
Superfone raises $1.9 Mn in pre-Series A round
Medial

Superfone, an all-in-one business phone and CRM app for SMBs, has raised $1.9 million in its pre-Series A funding round. The round was led by YourNest Venture Capital with an investment of $950,000, along with participation from Ankur Capital, Finsight Seed Fund, and a consortium of angel investors. The funding comes as part of the YourNest-SanchiConnect Velocity Program 2024, an accelerator initiative by YourNest and SanchiConnect to support high-growth startups. The Bengaluru-based company had previously raised $1.84 million from Ankur Capital and others back in July 2021. The proceeds will be used to acquire national-level telecom licences, strengthen its engineering and product teams with key senior hires, and scale its customer acquisition efforts to maximize its reach and impact, Superfone said in a press release. Co-founded in 2021 by Pradeep Dodle and Nikhil Goenka, Superfone aims to empower the landscape of business phone numbers by replacing traditional SIM cards with a fully app-based solution that integrates advanced tools such as CRM, lead management, WhatsApp marketing, and AI-powered agents. This approach addresses the critical communication and operational challenges faced by SMBs, empowering more than 10 million small businesses in India to accelerate growth, enhance customer engagement, and streamline operations. According to Superfone, it leverages a software-first approach to provide SMBs with a powerful, intuitive telecom platform that integrates communication, CRM, and marketing tools to drive growth and efficiency. The company plans to expand globally in the future, eyeing high-growth markets in Southeast Asia (SEA) and Latin America. Superfone claims that it has recently secured a Unified Licence (VNO) with Access Service for the Karnataka telecom circle and a Unified Licence (Audio Conferencing/Audiotex/Voice Mail Service) for Pan-India from the Department of Telecommunications (DoT).

Jobizo raises $1.4 Mn led by Alkemi Growth Capital

EntrackrEntrackr · 11m ago
Jobizo raises $1.4 Mn led by Alkemi Growth Capital
Medial

Jobizo raises $1.4 Mn led by Alkemi Growth Capital Healthcare HRtech firm Jobizo has raised $1.4 million in its pre-series funding round led by Alkemi Growth Capital. This investment follows the $500,000 seed funding round led by AROA Ventures in 2022. The proceeds will be used to create 100,000 healthcare jobs in India and 3,000 jobs abroad within the next 18 months and aims to complete 10 million job hours over time. Co-founded by Naveen Trehan and Avishek Agarwal, Jobizo is an AI-powered platform that connects employers with skilled professionals. The platform has contributed to over 10 million additional patient care hours in India. By using its expanding investor network and market expertise, Jobizo aims to create a welcoming environment for the workforce and tackle skill gap issues. Post seed round, Jobizo's growth claims to have grown over 500%, facilitated over 20,000 jobs in India and international countries, and helped fill over 10 million job hours.

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