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Skye Air Bags Rs 32 CR ($4 Mn) From Mount Judi Ventures, Others
Inc42
ยท
1y ago
Medial
Skye Air Mobility, a drone delivery startup, has raised $8 million in a Series A funding round. The funding round involved participation from various investors, including Chiratae Ventures and Venture Catalyst. Skye Air plans to use the capital for product development, infrastructure expansion, and to grow its team to around 200 employees within the next 18 months. The startup, founded in 2019, is primarily focused on sectors such as healthcare, ecommerce, quick commerce, and agriculture.
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Drone delivery startup Skye Air raises $4 million in funding
Economic Times
ยท
1y ago
Medial
Skye Air, a drone delivery logistics provider, has secured $4 million in funding in a round led by Mount Judi Ventures, Chiratae Ventures, and other investors. The funds will be used to expand Skye Air's last-mile drone delivery network in Gurugram and other cities, particularly for healthcare, e-commerce, and quick-commerce deliveries. Skye Air, founded in 2019, provides sustainable last-mile logistics solutions using drones and has developed a traffic management system for regulating drone traffic and ensuring safety. The investment reflects the potential of the rapidly growing drone delivery industry in India.
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AI-based edtech platform ConveGenius snags $7 mn; Fireside ups bet in The Baker's Dozen
VCCircle
ยท
1y ago
Medial
Edtech startup ConveGenius has raised $7 million in funding from investors including UBS Optimus Foundation and Mount Judi Ventures. The AI-based startup uses chatbots and adaptive learning platforms to enhance the learning experience of students. Meanwhile, bakery brand The Baker's Dozen secured around $4 million in a pre-Series A funding round from investors such as Wipro Consumer Care - Ventures and Fireside Ventures. The funding will be used to expand the brand's presence and develop its product portfolio.
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Drone Startup Skye Air Mobility Bags 10 Govt Contracts For Medical Supply Delivery
Inc42
ยท
1y ago
Medial
Skye Air Mobility, a drone delivery startup founded in 2019, has secured contracts from 10 Indian government medical institutions. The contracts enable the institutes, including several AIIMS and regional leprosy centres, to utilize drones for efficient delivery of essential medical supplies in temperature-controlled boxes. The deployment is expected to be completed in the coming weeks. Skye Air plans to expand its fleet size from 35 to 100 drones within the next six months. The Indian drone market is projected to reach $13 billion by 2030.
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DTDC Partners Skye Air Mobility For Drone Delivery Of Parcels
Inc42
ยท
1y ago
Medial
DTDC made its first successful drone delivery from Bilaspur to Gurugram Sector 92, completing a 7.5 km journey in just 3-4 minutes. This is the beginning of DTDC's drone delivery service, with plans to expand to other locations in India. Competitor Blue Dart has also started drone deliveries in partnership with Skye Air.
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BeepKart bags $6.5 Mn in extended Series A round
Entrackr
ยท
1y ago
Medial
BeepKart, a full stack retailer of used two-wheelers, has extended its Series A round by securing Rs 54 crore (approximately $6.5 million) from its existing investors including Chiratae Ventures, Stellaris Venture Partners, and Vertex Ventures. The board at BeeKart has passed a special resolution to issue 45,203 Series A2 CCPS at an issue price of Rs 11,935 each to raise Rs 54 crore, its regulatory filing accessed through Registrar of Companies shows. BeepKart has also received a part payment of Rs 33.2 crore from Chiratae and Stellaris Venture partners. The remaining amount is expected to follow shortly. BeepKart last raised $9 million in its Series A round led by Vertex Ventures in October 2022. Entrackr exclusively reported the development. According to the data intelligence platform TheKredible, the company has secured around $18.5 million to date and is valued at around Rs 362 crore $44 million (post-allotment of new shares) Founded by Hemir Doshi and Abhishek Saraf, BeepKart sells used two-wheeler brands such as Honda, TVS, Suzuki, Bajaj, Yamaha, Hero, KTM, among others. The company differentiates itself from online classifieds as it also provides reliable spare parts, services, accessories, loans, and insurance for used bikes through network partners. The company currently operates in Bengaluru and Chennai and plans to expand its operations to other cities. BeepKart was a pre-revenue stage firm till FY22 but it posted decent growth during FY23. The company reported Rs 21.86 crore revenue in the fiscal year ending March 2023 while its losses stood at Rs 27.88 crore in the same period. It directly competes with CredR, OLX, and Bike Bazaar.
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FarMart bags $10 Mn through equity and debt funding
Entrackr
ยท
3m ago
Medial
FarMart allotted 977 Series C CCPS at Rs 4,52,182 per share, with GC India Investment Holdings leading the round with Rs 43 crore, followed by Matrix Partners India (Z47) contributing Rs 1 crore. SaaS-based food supply platform FarMart has raised Rs 84 crore (approx $10 million) through a mix of equity and debt funding. FarMart allotted 977 Series C CCPS at Rs 4,52,182 per share, with GC India Investment Holdings leading the round with Rs 43 crore, followed by Matrix Partners India (Z47) contributing Rs 1 crore, its regulatory filing sourced from the Registrar of Companies (RoC) shows. Besides equity funding, FarMart has issued non-convertible debentures to Stride and Trifecta Venture, totaling Rs 40 crore, the filing shows. The company will use the funds for growth, expansion, and general corporate purposes, as per filings. Entrackr estimates that FarMart has been valued at around Rs 1,800 crore (around $210 million) post-allotment in the latest funding round. FarMartโs B2B platform digitizes the supply chain for agricultural inputs and produce, connecting nearby buyers and sellers to reduce logistics costs associated with long-distance transportation. The company has a strong retailer network across central and northern India, though its presence remains limited in southern states and Jammu & Kashmir. The company has raised over $60 million to date, including its $32 million Series B round led by General Catalyst, with participation from existing investors, Z47, and Omidyar Network India. According to TheKredible, FarMartโs operating revenue grew 30% year-on-year to Rs 1,341 crore in FY24, while it reported a net loss of Rs 68 crore for the same period. GC India Investment Holdings Group, Z47, and ON Mauritius are among the companyโs lead investors. Farmart directly competes with Info Edge-backed Gramophone, Kalaari-backed Agrim, Krishify, and others.
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Suraasa Bags $6 Mn To Upskill Teachers For Global Opportunities
Inc42
ยท
9m ago
Medial
Suraasa, an edtech startup offering competency-based skilling programs for teachers, has raised funding in a round led by Reach Capital. Other participants included ETS Capital, NB Ventures, TSM Ventures, and TRTL Ventures, among others. The funding will be used to expand globally, build its team, and enhance its technology infrastructure. Founded in 2017 by Rishabh Khanna, Suraasa aims to provide teachers with the necessary skills to thrive in today's education landscape.
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TransBnk Bags $4 Mn Funding To Boost Transactional Banking
Inc42
ยท
11m ago
Medial
TransBnk, a financial services API provider, has secured $4 million in Series A funding. The round was led by 8i Ventures and Accion Venture Lab, with contributions from GMO Venture Partners, Ratio Ventures, and Force Ventures. The company, founded in 2022, intends to utilize the funds to build more banking partnerships and expand its operations in the Middle East and Southeast Asia. It also plans to improve its technology infrastructure. With 25 banking collaborations and support for over 5,000 accounts, TransBnk has experienced tremendous growth, witnessing its revenue grow by 10 times.
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goSTOPS bags Rs 35 Cr in Series A round led by Blume Ventures
Entrackr
ยท
5m ago
Medial
goSTOPS bags Rs 35 Cr in Series A round led by Blume Ventures Youth travel hostel brand goSTOPS has raised Rs 35 crore ($4.2 million) in its Series A round led by Blume Ventures and co-led by 1Crowd. Mumbai Angels, Chennai Angels, Indian Angel Network, Lead Angels, and Yuj Ventures also participated in the round. Earlier in December 2021, goSTOPS had raised $1 million in a bridge round funded by existing investors including The Chennai Angels, Mumbai Angels, and Yuj Ventures. The proceeds will be used to strengthen operations, enhance technology, and elevate the social and experiential aspects of its existing properties. The company is also finalising debt partnerships to expand its war chest for the brand's expansion. Founded by Pallavi Agarwal and Pankaj Parwanda, goSTOPS offers vibrant, social, and design-led spaces for the new generation. The Delhi-based firm plans to expand its capacity from 2,500 to 10,000 beds across 100 locations in the next 24 months, achieving 4X growth. According to market research, 70% of young travellers now prefer hostels over traditional hotels, underscoring the growing demand for the category. goSTOPS competes with The Hosteller, Wudstay, and Backpackers Panda, among others.
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Traveltech Startup The Hosteller Nets INR 32 Cr From V Cube Ventures, Others
Inc42
ยท
11m ago
Medial
Traveltech startup The Hosteller has secured INR 32 Cr (approximately $4 Mn) in a funding round led by V Cube Ventures SA. The funding will be utilized to scale up the company's business operations. Participating in the round were LV Angel Fund, Unit E Consulting LLP, and a number of angel investors.
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