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

EntrackrEntrackr · 1m 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.

Beco raises $10 Mn in pre-Series B round led by Tanglin

EntrackrEntrackr · 11m ago
Beco raises $10 Mn in pre-Series B round led by Tanglin
Medial

Beco, a homegrown eco-friendly home, kitchen and personal care brand, has raised $10 million in its pre-Series B round led by Tanglin Venture Partners. The round also saw participation from Titan Capital Winners Fund, Manish Choksi, promoter of Asian paints, existing investor Rukam Capital and Synergy Capital. Earlier in December 2022, the Mumbai-based company had raised $3 million in its Series A round led by Rukam Capital and others. Entrackr had exclusively reported the Series A round in August 2022. The proceeds will be used towards innovation and expanding production capacity; developing a strong offline sales infrastructure in key geographies, and lastly, towards brand building and enhancing brand awareness. Founded in 2019 by Aditya Ruia, Akshay Varma, and Anuj Ruia, Beco claims to be a pure eco-friendly and zero-plastic company which offers a wide range of products for home & kitchen and personal care. Its offerings include tissues, towel rolls and toiletries among others. Beco claims to have achieved an exponential 3x growth in the last year. It has a presence in 10,000 retail stores, with order values matching or exceeding those of legacy brands. In just five years, Beco has established a strong foothold in e-commerce and quick commerce platforms such as Amazon, Zepto, Blinkit, Swiggy Instamart, and DMart Ready. It is available in general trade across 20 cities and has entered modern trade, with plans to expand to other major players by the end of this quarter.

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.

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