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GrowthCap leads $1.85 Mn in pre-seed round in Spense

EntrackrEntrackr · 1m ago
GrowthCap leads $1.85 Mn in pre-seed round in Spense
Medial

Spense, a Bengaluru-based startup building programmable banking and card infrastructure, has raised $1.85 million in its pre-seed round led by GrowthCap Ventures. Kunal Shah (founder, CRED), Sayandeb Banerjee (co-founder, The Math Company), Suresh Rayasam (Head of Applied AI for GTM), Ravi Sudhakar (Director, AI Global Business Strategy, Microsoft), among others have also participated. According to Spense, the funds will be used to onboard additional banks, grow fintech partnerships, and expand the product and technology stack to support more use cases beyond credit cards. Founded by Pawan Kumar (former head of Applied Science at Uber India) and Srinivas Krishnamurthy (former Technical Lead at BNP Paribas), Spense provides infrastructure for secured credit cards, prepaid cards, and forex programs. The platform is designed to support financial institutions with regulatory oversight and integration capabilities for new credit products. Spense is currently used by regulated entities to launch and manage secured credit programs. The company’s infrastructure enables faster go-to-market timelines and auditability while integrating with legacy systems.

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RePut.ai closes $1 Mn in pre-seed round led by GrowthCap Ventures

EntrackrEntrackr · 6m ago
RePut.ai closes $1 Mn in pre-seed round led by GrowthCap Ventures
Medial

RePut.ai, a supply chain solutions provider, has raised $1 million in a pre-seed funding round led by GrowthCap Ventures. The funding round also saw participation from angel investors, including Anshul Sharan (Founder of Elevate), Abhijeet Kumar (Founder of Table Sprint), Harshit Panday, Satish Shetty, Vidya Sridharan, Munendra Singh, Srihari Sahu, Preeti Sagtani, Dr. Biju Jacob, Anand Tiwari, KK and Vishal Jain of Deloitte, among others. Founded by Anuj Bishnoi, Rohit Mahatma, and Amit, RePut.ai empowers brands to validate, market, and scale their sustainability efforts. Its platform ensures businesses achieve global sustainability goals by providing actionable insights for tracking and reducing carbon emissions, driving recycling initiatives, and transitioning towards a circular economy. The Bengaluru-based startup claims to have already deployed successful pilots, generating early revenues and enabling manufacturers to trace their footprints, promote sustainability, and achieve measurable growth.

Piston closes $7.5 Mn seed round led by Spark Capital

EntrackrEntrackr · 1m ago
Piston closes $7.5 Mn seed round led by Spark Capital
Medial

Piston closes $7.5 Mn seed round led by Spark Capital Fintech startup Piston has closed its seed round at $7.5 million. The latest $6.1 million round was led by Spark Capital, with participation from Pear VC and BOND. It follows a $1.4 million pre-seed raised via the PearX accelerator. The proceeds will be used to expand go-to-market efforts and continue building its network across the US. Shivam Shah leads the India presence, with all engineering and parts of operations and customer success based there. Founded by former fleet operators Vikram Sekhon and Shivam Shah, Piston replaces card-based systems with a direct payment infrastructure that connects fleet drivers and fuel stations. The platform uses a QR-code-based system to link payments to vehicle, time, location, and fuel data, while stations connect directly to Piston’s network without hardware upgrades or intermediaries. Piston currently works with over 120 fleets and 800 gas stations, processing more than $20 million in annualized volume with a 50% monthly growth rate. Its headquarters is in Cupertino, with additional operations in Lehi and a 25-member engineering and operations hub in Kolkata, which is expected to double in size over the next year.

Bhavik Koladiya-led OTPless raises $3.5 Mn led by SIDBI

EntrackrEntrackr · 1y ago
Bhavik Koladiya-led OTPless raises $3.5 Mn led by SIDBI
Medial

Authentication and access management platform OTPless has raised $3.5 million in its pre-Series A funding round led by SIDBI, said its co-founder and chief executive officer Bhavik Koladiya. Venture Highway, FJ Labs, and Piper Serica also joined the firm’s maiden institutional round. With this, OTPless raised $6.5 million to date. The Surat-based startup raised $2.7 million in seed round in February last year from Neeraj Arora, Kunal Shah, Amrish Rau, Jitendra Gupta, Utsav Somani, Amit Jain, Fabrice Grinda, and Luke Skertich. With a team of 50 members, OTPless plans to use the new funds to expand its global presence and service beyond authentication and into authorization, said Kodaliya. Its global peers include Auth0, Clerk, Stytch, Descope and Transmit Security and a few others. Founded by Koladiya, Satyam Nathani and Tanmay Sagar, former executives of fintech unicorn BharatPe, OTPless enables users to sign up and sign in on websites and apps via WhatsApp and other methods. This approach simplifies the process for users and weeds out the need for OTPs. The startup supports various social sign-in methods, including Google, iMessage, Microsoft, Github, Slack, UPI and modern protocols like Passkeys, Network Auth, Protected SMS and Device fingerprinting. As per the company, developers can easily integrate OTPless’s SDKs and APIs, going live within minutes using pre-built UIs. OTPless claims that more than 5,000 companies and 20,000 developers worldwide use the platform to authenticate over 30 million users. OTPless is a recent startup from BharatPe’s group which managed to raise significant funding. For record, CrickPe, led by Ashneer Grover, raised seed money led by ZNL Growth Fund. Last year, Genwise and Vegapay also announced their maiden fundraise after launch. The list of startups and venture funds launched by former BharatPe executives includes Jivi.ai, CubeAPM, GrowthCap Venture, Eternal Capital and OTP Ventures. While Growth Cap Venture and Eternal Capital already announced their maiden fund, Suhail Sameer-led OTP Venture is aiming to secure Rs 400 crore for its debut fund.

Aeravti Ventures leads $1 Mn round in Origin Fresh

EntrackrEntrackr · 5m ago
Aeravti Ventures leads $1 Mn round in Origin Fresh
Medial

Snippets Aeravti Ventures leads $1 Mn round in Origin Fresh Fresh produce brand Origin Fresh has secured $1 million in a pre-seed funding round led by Aeravti Ventures, with participation from a group of Ultra HNIs. New Update Fresh produce brand Origin Fresh has secured $1 million in a pre-seed funding round led by Aeravti Ventures, with participation from a group of Ultra HNIs. The fresh funds will be utilized to enhance the delivery network and support the development of cutting-edge infrastructure, Origin Fresh said in a press release. Co-founded in 2020 by Prashanth Vasan and Sidharth Raveendran, Origin Fresh delivers farm-fresh, untouched produce directly to customers' doorsteps, eliminating middlemen to offer unbeatable prices and uncompromising quality. The startup is committed to encouraging consumers to prioritize freshness and quality over speed, fostering a thoughtful approach to meal planning and healthy living. According to the Bengaluru-based company, by delivering farm-fresh, high-quality produce, it aims to enhance culinary experiences and promote overall well-being, inspiring a movement that celebrates the richness and nourishment of fresh produce. The brand promises delivery from farm to home within 12 hours. Origin Fresh claims that it has surpassed 5,000 orders within the first 40 days of launch, with over 60% of customers placing repeat orders within two weeks. The company has earned strong trust for its quality and freshness. It focuses exclusively on fresh produce and has carved a niche among health-conscious consumers, boasting an extensive catalog of over 250 items, including a wide range of exotic options.

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