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5C Network raises $3 Mn in a new round

EntrackrEntrackr · 1y ago
5C Network raises $3 Mn in a new round
Medial

Medical diagnostics platform 5C Network has raised Rs 25.5 crore (approximately $3 million) from Redwood India Healthcare Fund in a new round. This is the first investment for the firm this year. The board at 5C Network has passed a special resolution to issue 2,72,241 CCSPS at an issue price of Rs 936.67 each to raise Rs 25.5 crore, its regulatory filing accessed from the Registrar of Companies shows. For background, the Bengaluru-based company has raised the proceeds after a gap of more than 17 months. 5C Network last raised $4.6 million in its Series A round led by Celesta Capital in Oct 2022. As per the startup data intelligence platform TheKredible estimates, the company has been valued at around $30 million (post-money). Founded in 2016 by Sivasailam and Syed Ahmed, 5C Network enables users across India to store, create, and analyse radiology images. It facilitates hospitals in maximizing returns on their radiology infrastructure by providing access to radiologists. With the backing of Tata 1mg and Celesta Capital, the firm has raised over Rs 80 crore to date. Before the fresh proceeds, Unitus Capital was the largest external stakeholder with 20.8% followed by Celeseta Capital and Tata 1mg. Its co-founders Kalyanasundaram S and Syed Sabbir Ahmed cumulatively commanded 33.9% of the company. 5C Network has been struggling with growth and this could be evident from its collection which dwindled by 20% to Rs 18.75 crore during the fiscal year ended March 2023. Moreover, the company posted Rs 19.47 crore loss during the same period.

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JustDeliveries raises $1 Mn in pre-Series A round

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

Logistics solutions for perishables JustDeliveries has raised $1 million in its pre-Series A round led by Nabventures. Faad Network, Anay Ventures, Caret Capital and Mahansaria Family Office have also participated in the round. The proceeds will be used to deepen its logistics network across regions including Bengaluru, Mumbai, Pune and the national capital region, the company said in a press release. It will also launch operations in Hyderabad. Within the next 3-4 years, JustDeliveries plans to extend its presence to 8-10 cities across India. Founded in 2022 by Mahansaria, JustDeliveries solves the challenges of fragmented cold supply chain for perishables and works with leading QSRs, café chains, and brands with fresh and frozen products. Nabventures, a subsidiary of the Indian government’s National Bank for Agriculture and Rural Development (Nabard) invests in agritech, foodtech, rural fintech, healthtech and edtech startups. Its other investments include Unnati, Jai Kisan and TenderCuts in the food and agricultural space.

Mugafi raises $3 Mn in Seed funding

EntrackrEntrackr · 2m ago
Mugafi raises $3 Mn in Seed funding
Medial

Mugafi, an AI-led company working in tech and entertainment, has raised $3 million in a seed round from institutional and individual investors. The round was led by StartupXseed, Auxano, Proneur, MarsshotVC (Razorpay founders’ fund), and BeyondVP. WeFounderCircle also helped bring the round together. With the new funding, Mugafi plans to improve its technology, enter new markets, and hire more people to grow its work. The team also plans to build tools that make content creation possible for more storytellers. Mugafi is developing a suite of AI tools that support creators in working more quickly, exploring new ideas, and producing stories. The platform serves writers, filmmakers, studios, and producers by increasing output, streamlining processes, and enabling new directions for content creation. At the core of Mugafi’s platform is Ved, its AI tool that works with storytellers to create ideas, build plots, develop characters, and write dialogue. Since its launch, Ved has helped create over 500 original projects, and Mugafi says it plans to build a library of over 200,000 characters in the next two years. “We’re at a tipping point in how stories are made,” said Vipul Agarwal, Founder & CEO of Mugafi. “At Mugafi, we’ve always believed that AI should amplify creativity, not replace it. Our goal is to empower storytellers—help them break barriers, accelerate their process, and create magic on screen.” Along with building its technology, Mugafi has built a network of creators. It has helped over 10,000 writers develop original projects using Ved and support from mentors. The company has worked with platforms and studios like Excel Entertainment, Stage, Spotify, Meta, and others to bring new storytelling formats to audiences. Its AI-made characters are already being used in films, short films, games, podcasts, and more.

KSKT raises $1.3 Mn in equity and debt round

EntrackrEntrackr · 1m ago
KSKT raises $1.3 Mn in equity and debt round
Medial

Kisaan Se Kitchen Tak (KSKT), an agri-commerce startup, has raised $1.3 million in a funding round led by Keiretsu Forum and Favcy’s 1stCheque Angel Network. The round includes a mix of equity and debt. The new capital will support expansion into over 20 cities, increase farmer onboarding to more than 50,000, and implement AI-based demand forecasting tools. Founded by Santosh Srivastava and Ishaan Hukku, KSKT runs a supply chain platform that connects over 5,000 farmers with over 32,000 customers, offering farm-fresh produce and essentials through B2B and B2C channels. The firm claims to have reported Rs 14.5 crore in revenue for FY25 and a 4X year-on-year growth. KSKT is aiming for Rs 100 crore in annual recurring revenue within three years. The startup is part of Favcy’s 1to10 Accelerator, a program focused on supporting revenue-generating startups from tier II and tier III cities. KSKT was selected for its early revenue and operational performance. KSKT reports a 68% repeat usage rate and 3% wastage, and plans to use the funding to strengthen its tech stack and expand reach.

Probus raises $5 Mn led by Unicorn India Ventures

EntrackrEntrackr · 4m ago
Probus raises $5 Mn led by Unicorn India Ventures
Medial

Probus raises $5 Mn led by Unicorn India Ventures IoT Communications and data analytics startup Probus Smart Things has raised $5 million in Series A1 led by Unicorn India Ventures. The round also saw participation from US-based and Indian family offices. The current round is a mix of equity and debt financing. Probus has raised over $8 million in funding to date including a $3 million Series A round in March 2023. The proceeds will be used for ramping up its current communications tech stack into multiple smart grid and renewable applications along with the development of existing expertise into AI integration with its patented communications and networking stacks. It will also be investing in scaling its innovative dual communications network interface modules for smart metering currently being deployed across various states in India. Founded by Anand Singh, Probus develops integrated hardware and software solutions for utility providers and helps digitize their distribution grid and have a clear visibility of their network through Probus integrated end-to-end IoT platform. Probus claims to have built an order pipeline of Rs 400 crore growing 10X in revenues while growing 3X year-on-year. The company has filed for 4 patents, tripled the team size, and opened an Innovation Center in Noida along with project offices in Mumbai and Ahmedabad.

DrinkPrime raises $3 Mn from SIDBI Ventures

EntrackrEntrackr · 1y ago
DrinkPrime raises $3 Mn from SIDBI Ventures
Medial

DrinkPrime, a subscription-based reverse osmosis (RO) water supplying startup, has raised $3 million from SIDBI Venture Capital Ltd. (SVCL), an investment management company and a wholly owned subsidiary of SIDBI. The Bengaluru-based startup had raised Rs 60 crore ($7.5 million) in a mix of equity and debt round led by Omidyar Network India, others in July 2022. Prior to that, it raised around Rs 21 crore in its pre-series A round led by Peak XV’s Surge in August 2021. Founded in 2016 by Vijender Reddy and Manas Ranjan Hota, DrinkPrime works towards enabling access to clean drinking water with Internet-of-Things (IoT)-enabled customised water purifiers on subscription to users. DrinkPrime currently provides clean drinking water access to over 2 lakh families across seven cities in India. With further expansion plans, DrinkPrime is also gearing up for its Series B fundraise. According to startup data intelligence platform, TheKredible, DrinkPrime reported an operating revenue of Rs 28.94 crore with a loss of Rs 27 crore in FY23. In the subscription model, DrinkPrime competes with Livpure, Acquaguard and ZunPure.

Kreedo raises $4 Mn in Series A funding

EntrackrEntrackr · 10m ago
Kreedo raises $4 Mn in Series A funding
Medial

Edtech platform Kreedo has raised $4 million in Series A funding round co-led by Singapore-based Heritas Capital and existing investor UBS Optimus Foundation. The round also saw participation from other existing investors such as Gray Matters Capital, 1Crowd, The Chennai Angels, The Joka Angel Network and others. The proceeds will be used to enhance product offerings and expand into new geographies in India, Kreedo said in a press release. Co-founded in 2012 by Mridula Shridhar and VK Manikandan, Kreedo partners with affordable private schools and preschools and aims to transform the way learning is delivered in early years. Its unique 6T learning framework is an innovative model centered on the Kreedo Activity Labs which offers a structured environment for play-based learning. According to Kreedo, it currently caters to children in the age group of 3 to 8 years (Nursery to Grade 2), in line with play-based guidelines prescribed in the NEP 2020 for the foundational stage of learning. The platform offers a comprehensive solution that empowers and supports schools to significantly improve learning outcomes. Kreedo says that it is solving this problem at scale by integrating play as the primary form of learning in its partner schools in the foundation years. Over the last two years, Kreedo also says that it has seen significant growth, doubling its revenue, expanding its reach from 700 to 1,700 schools/ pre-schools and increased the number of children benefiting from its programs from 55,000 to more than 1,40,000 Kreedo intends to extend its product offerings moving upwards to grades 3-5, and enhance Practico, a digital home learning platform. The platform will also be scaling a specialized pre-primary teacher training franchise program that will create a pool of job-ready qualified teachers for its partner schools as well as the early education market in general.

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