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FINQY raises $2 Mn in fresh round

EntrackrEntrackr · 1y ago
FINQY raises $2 Mn in fresh round
Medial

Fintech startup FINQY has raised $2 million in a new round from Angel Bay India Accelerator, Family Offices and private investors. Earlier in March 2022, the firm had raised $839K in its seed round from Anvita Varshney, AngelBay and others. The proceeds will be used to advance financial services distribution in India through its technology and strategic growth initiatives. Founded in 2019 by Manish Aggarwal, FINQY enables its partners to offer their customers a wide range of financial products. These include credit cards, insurance, investments and loans, as well as easy upsell and X-sell opportunities among these products. The startup helps streamline complex financial decisions across credit cards, insurance, and loans but also significantly enhance customer engagement and facilitate informed decision-making FINQY operates out of 30 offices across 24 cities and 2 countries with the support of over 100 financial and banking partners. It claims to have achieved a revenue milestone of $9.8 million in FY24.

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Fresh From Farm raises $2 Mn in pre Series A round

EntrackrEntrackr · 1y ago
Fresh From Farm raises $2 Mn in pre Series A round
Medial

Fresh From Farm, a B2B2C platform for fresh fruit demand, has raised $2 million in its pre-Series A round led by Ashish Kacholia, founder of Lucky Investments. Inflection Point Ventures also participates in the round. The proceeds will be used for team expansion, tech enhancement, and to introduce new product lines. Fresh From Farm has also provided a partial exit to early investors offering more than 400% returns. Its early investor IPV led Rs 3 crore seed round in the company in November 2022. Founded by Rohit Nagdewani, Fresh From Farm uses a proprietary tech interface to predict and create a demand-supply equilibrium to minimise wastage of fresh produce. Its falgship product F3 converts fruit vendors into mini-franchises and sources, grades and handles fruit for them allowing them to focus on only sales. Fresh From Farm claims to have an ARR of Rs 40 crore with an aim to touch Rs 100 crore by this calendar year end. Other notable startups in the same space include Vegrow and Ninjacart.

Admission startup Ambitio raises $2 Mn in seed round

EntrackrEntrackr · 7m ago
Admission startup Ambitio raises $2 Mn in seed round
Medial

Admission startup Ambitio raises $2 Mn in seed round Admissions startup Ambitio has secured $2 million in a seed funding round led by BLinC Invest along with participation from Ritu Bapna and other investors. Prior to this, the startup raised $187K in the same round from First Cheque and others. The fresh funds will be used to invest in technology and scale distribution channels, Ambitio stated. Co-founded in 2022 by Dirghayu Kaushik and Vikrant Shivalik, Ambitio is an AI-driven admissions platform leveraging over 10 million data points to provide a personalized admissions experience. It aims to match students to best-fit universities using real admission data. Ambitio claims successful admissions in top colleges like Harvard, Stanford, Columbia, and Oxford. It plans to help over 500,000 students access global education in the next two years and competes with startups such as Yocket, Gradvine, and MiMEssay.

Fragaria Fruits raises $2 Mn in seed round led by WEH Ventures

EntrackrEntrackr · 13d ago
Fragaria Fruits raises $2 Mn in seed round led by WEH Ventures
Medial

Fragaria Fruits raises $2 Mn in seed round led by WEH Ventures Farming company Fragaria Fruits has raised $2 million in a seed funding round led by WEH Ventures, along with participation from Rainmatter, Spiral Ventures, and angel investors such as Sashi Kumar. The startup had previously raised Rs 1.5 crore in a pre-seed funding round. The fresh funds will be utilized to scale its operations in Bengaluru, expand its premium fruit portfolio to include blueberries and raspberries, and provide a year-round supply of high-quality, sustainable produce to the Indian market, Fragaria said in a press release. Co-founded in 2024 by Harish Varadharajan, Timothy Chad Van Niekerk, and Damian López-Salazar, Fragaria Fruits aspires to address a critical gap in India’s fruit industry: the lack of consistently high-quality, fresh fruit available year-round. It aims to redefine the fruit-eating experience for Indian consumers by delivering premium, sustainably grown produce using world-class farming techniques. According to the Chennai-based startup, its flagship brand, Oh! Fruits, offers European strawberries grown in Chennai using advanced vertical farming technology, which are twice as sweet as conventional Indian varieties, pesticide-free, and have a shelf life up to three times longer than typical market options. The company’s commitment to sustainability is reflected in its water recycling systems, solar power integration, and efforts to reduce the environmental footprint of farming while maintaining affordability. By using Controlled Environmental Agriculture (CEA) and vertical farming, Fragaria has built a sustainable and scalable model to grow premium strawberries year-round. It plans to expand production in Bengaluru, increasing daily output from 2–3 kg to 120–150 kg. The startup doesn't have any local brands to compete with for fruits, but there are limited imported fruit brands in India, such as Driscoll’s (berries), Zespri (kiwi), and Rockit (apples).

ixigo-backed Fresh Bus raises $10.5 Mn in Series A round

EntrackrEntrackr · 1y ago
ixigo-backed Fresh Bus raises $10.5 Mn in Series A round
Medial

All-electric intercity bus startup Fresh Bus has raised Rs 87.5 crore ($10.5 million) in Series A funding round led by international early-stage transportation-focused VC fund Maniv, with participation from Shell Ventures, Alteria Capital, and existing investor Riverwalk Holdings. Last month, Entrackr exclusively reported about Fresh Bus’ new round. Fresh Bus will utilize the new funds to add 15 routes and deploy 150 new electric buses, the firm said in a press release. Besides scaling ops, the funds will also be deployed towards raising technological capabilities, and strengthening its team. Fresh Bus was previously backed by notable industry leaders such as CRED founder Kunal Shah, TVS Motors MD Sudarshan Venu, and Rivigo CEO Deepak Garg. Earlier, the firm also secured Rs 16 crore ($2 million) from public company ixigo. FreshBus, which offers ticketing, real-time tracking of buses, loyalty program, among other services, was founded by Sudhakar Reddy Chirra. Chirra had built bus aggregator Abhibus which was acquired by ixigo in August 2021 in a cash and stock deal. The Bengaluru-based company claims to have ferried over 4 lakh passengers to date. According to Chirra, the firm expects to scale to 1000 electric buses pan-India over the next four years. As per startup data intelligence platform TheKrediblle, FreshBus was a pre-revenue stage firm with a loss of Rs 2.1 crore during FY23. The company is yet to file its annual financial results for FY24. Fresh Bus competes with IntrCity SmartBus, ZingBus, Yolobus, and gogoBus, among several organized travel agencies across regions.

10 min food delivery startup Swish raises $14 Mn

EntrackrEntrackr · 7m ago
10 min food delivery startup Swish raises $14 Mn
Medial

Exclusive: 10 min food delivery startup Swish raises $14 Mn Swish, a 10-minute food delivery startup, has secured Rs 122.32 crore in its Series A funding round, led by Hara Global Capital and existing investor Accel India. This follows just three months after its $2 million seed round. The board at Swish has passed a special resolution to issue 4,762 Series A compulsory convertible preference shares at an issue price of Rs 2,56,334 each to raise Rs 112.3 crore or $14 million, its regulatory filing accessed from the Registrar of Companies shows. Hara Global Capital led the round with Rs 69.56 crore while Accel India invested Rs 52.18 crore. Kunal Shah-led QED innovation, and Gaurav Munjal (CEO of Unacademy) and Sumer Juneja, investment advisor at SoftBank, participated with Rs 20.5 lakhs, Rs 5 and Rs 30.7 lakh respectively. According to Entrackr's estimates, the company has been valued at around Rs 522 crore or $60 million post-allotment. After the new funding round, Hara Global Capital will own 13.33%, while Accel India will hold a 27.24% stake in the company. Co-founders Aniket Sunil Shah, Sureshkumar Sarana, and Ujjwal Sukheja will each retain a 16.38% share following the Series A round. Founded in 2024, Swish’s 10-minute delivery model operates within a 1.5–2 km radius using cloud kitchens called ‘delight centers,’ ensuring fresh and hygienic food is delivered swiftly through its optimized full-stack approach. Swish is competing in the fast-expanding instant food delivery market, where Zomato, Swiggy, and Zepto are leading the charge. Zomato-owned Blinkit has also launched Bistro, a standalone app for instant food delivery. In December, Bhavish Aggarwal-led Ola entered the segment, while emerging players like Magicpin and Zing are gaining traction. The latest entrant to the space is cloud kitchen unicorn Rebel Foods, which has introduced a new app called QuickiES.

Captain Fresh raises $25 Mn in ongoing funding round

EntrackrEntrackr · 1y ago
Captain Fresh raises $25 Mn in ongoing funding round
Medial

Captain Fresh, a fish and seafood tech startup, has raised $25 million as part of a continuing larger funding round. The extension of the series C round is joined by Nekkanti seafoods group and British International Investment (BII), a UK-based development finance institution and impact investor, and a few family offices. Proceeds will be used to fuel its distribution presence in the US and Europe, and enhance multi-origin vertically integrated seafood platform, among others, the company said in a press release. With this, Captain Fresh has raised a total of $45 million across multiple tranches in its Series C extended round with $20 million raised in September last year. Strategic Business Innovators (SBI) and Evolvence fund led the first tranche with participation from Tiger Global, Prosus, Accel and Matrix Partners India. The firm also raised $13 million in January this year and will close the extended Series C at $48 million. As per startup data intelligence platform TheKredible, Captain Fresh was valued at around $480 million when it raised $13 million and is likely to close the ongoing round at $500 million. Five-year-old Captain Fresh’s product portfolio encompasses over 100 species of fish and seafood, sourced from over a dozen countries globally and catering to customers in more than 30 countries. Captain Fresh has offices in India, the US, Dubai, Paris, Oslo, Amsterdam and Madrid. The firm claims that it handles over 80,000 metric tonnes of seafood annually with India constituting 90% of this. Some percentage of demand also comes from Southeast Asia. Captain Fresh recently completed the acquisition of a 40-year-old, Paris-based, shrimp cooker and distributor, Senecrus, as part of its EU expansion strategy. As per TheKredible, Captain Fresh’s gross revenue surged nearly 4X to Rs 817 crore in the fiscal year ending March 2023 while its losses also shot up 2.6X to Rs 294 crore in the same period.

Otipy raises $2 Mn in venture debt from Nuvama

EntrackrEntrackr · 7m ago
Otipy raises $2 Mn in venture debt from Nuvama
Medial

Otipy, a farm-to-fork company, has raised $2 million in venture debt from Nuvama Asset Management Limited. This raise comes ahead of its $10 million equity round as reported by Entrackr earlier. Otipy will use these funds for general corporate purposes. Otipy operates a farm-to-fork delivery model by procuring directly from farmers and delivering fresh produce to consumers every morning. Currently, it operates in Delhi-NCR and Mumbai, with plans to launch in Hyderabad, Bengaluru, and Chennai. The Varun Khurana-led company has raised $46 million to date, including its $32 million Series B round led by Westbridge Capital in 2022. According to the startup data intelligence platform TheKredible, SIG Global is the largest external stakeholder in the firm, followed by WestBridge Capital. Recently, Otipy introduced electric carts in Gurugram as part of a pilot project to sell fruits and vegetables offline. The firm plans to organize the pushcarts through a franchise model and expand its services to other cities, including Mumbai. For the fiscal year ending in March 2024 (FY24), Otipy claims to register Rs 175 crore in topline.

Plutos ONE raises $2 Mn in seed round led by StartupXseed

EntrackrEntrackr · 1y ago
Plutos ONE raises $2 Mn in seed round led by StartupXseed
Medial

Plutos ONE, a technical service provider (TSP) for the Bharat Bill Payments System (BBPS), has secured $2 million in a seed round led by StartupXseed. The round also witnessed participation from Genesia Ventures, Auxano Capital, Raghuvanshi Investments and other investors. The Delhi-based platform had previously raised an angel round from its existing investors and others like Aakash Chaudhry, Prabhjeet Singh, Neeraj Mohan, Gautam Kamath, Ravi Gosain, Harish Chandra, Chanakya VC, Sarcha Advisors and others. The fresh funds will be used for onboarding banks as biller operating units as well as agent institutions on the BBPS network, Plutos ONE said in a press release. Co-founded in 2021 by Rohit Mahajan and Rajjat Gulati, Plutos ONE is licensed and empaneled by NPCI Bharat BillPay Limited (NBBL). It owns and operates a merchant- funded aggregation platform on which it runs card activation solutions for various credit and debit card issuers. Its clients include NPCI, Visa, Punjab National Bank, Kotak Mahindra Bank, IDFC First Bank, Yes Bank, BHIM UPI, BobCards, UCO Bank, Bank of Maharashtra, IDBI Bank and Loylty Rewardz.

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