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GROWiT raises $3 Mn in Series A round led by GVFL

EntrackrEntrackr · 6m ago
GROWiT raises $3 Mn in Series A round led by GVFL
Medial

Surat-based agritech firm GROWiT has raised $3 million in its Series A round led by GVFL. Other participants in the round include Veloce Opportunities Fund, JITO, We Founder Circle, Sunicon Ventures Fund, Progrowth Ventures, and Hyderabad Angels. The proceeds will be used to expand GROWiT’s market presence, strengthen its research and development, and enhance its technology infrastructure. Founded in 2020, GROWiT offers soil-to-harvest solutions for farmers. Its products include a soil health testing device, mulch films, crop covers, and weed mats. These tools are intended to support farming practices by helping improve productivity and reduce input costs. GROWiT currently operates across 12 states in India and works with over 650 franchise partners. It claims to have engaged with more than 225,000 farmers. GROWiT aims to use the funding to increase its domestic reach and scale its exports to regions in Africa and other markets. It is also focused on building tools that are aligned with changing agricultural needs due to weather and resource shifts.

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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.

GVFL leads $2 Mn pre Series A round in Protouch

EntrackrEntrackr · 27d ago
GVFL leads $2 Mn pre Series A round in Protouch
Medial

GVFL leads $2 Mn pre Series A round in Protouch Protouch has raised $2 million in a pre-Series A round led by GVFL, with participation from Ennission India Capital and Anicut Capital. The company is valued at $10 million post this round. The proceeds will be used to expand the product portfolio, invest in R&D, and scale online and offline distribution. Founded in 2022 by Tanisha Lakhani, Protouch operates in the beauty and personal care appliances segment. It sells haircare, skincare and grooming devices that enable at-home usage for consumers. Its products include an automatic hair multi-styler using airflow technology, LED-based devices for skin and hair, and a dual-sided trimmer. Protouch has developed devices for Indian hair and skin types. The brand claims to have served over 200,000 customers and has expanded to the Middle East. It has recorded 15x revenue growth in 30 months and operates profitably. Protouch plans to introduce new products in haircare and skincare and set up a manufacturing unit over the next few years. Protouch competes with appliance and beauty tech brands such as Dyson, Philips, Vega, Havells, BeautIQ, Agaro, and imported direct-to-consumer beauty tech devices. Its positioning is between low-priced mass appliances and higher-priced international brands. Over the next three to five years, Protouch targets wider category expansion and higher household penetration in the beauty appliance segment.

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