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IAN Group backs Chargeup in Rs 22 Cr funding round

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IAN Group backs Chargeup in Rs 22 Cr funding round
Medial

IAN Group backs Chargeup in Rs 22 Cr funding round EV-focused mobility startup Chargeup has raised Rs 22 crore ($2.4 million) in a funding round backed by IAN Group, along with Cap-A and existing investors. The new round came after a gap of four years. This is the third funding round for the Delhi-based startup. In November 2022, the firm had raised $7 million in a pre-Series A1 round led by Capital-A and Anicut Capital. In the same year, it raised $2.3 million in its pre-Series A round led by Capital-A and co-led by Anicut Capital. The proceeds will be used to expand into high-demand EV markets, strengthen its technology platform for drivers and lenders, and scale operations across regions with rising electric three-wheeler adoption. Founded in 2019 by Varun Goenka and Satish Mittal, Chargeup is building a driver-first EV technology platform focused on last-mile drivers. The platform addresses challenges such as high financing costs, battery-related downtime, and income loss, which significantly impact earnings for EV three-wheeler drivers. Chargeup integrates IoT and data-led tools to reduce lending risk for NBFCs while improving earning stability, vehicle utilization, and resale value for drivers. The platform connects drivers, OEMs, dealers, and lenders within a single system. The startup has onboarded over 10,000 EV drivers and plans to add another 20,000 drivers by FY27. It operates in a market estimated at $12 billion, driven by increasing adoption of electric three-wheelers across logistics and passenger mobility.

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Zerodhaโ€™s Rainmatter backs Bosan and TruNativ

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Zerodhaโ€™s Rainmatter backs Bosan and TruNativ
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Zerodha-backed early-stage venture firm Rainmatter has backed water recycling startup Boson Whitewater and nutrition-focused brand TruNativ with Rs 10 crore each in an equity round. Founded in 2011 by Vikas Brahmavar and Gowthaman Desingh, Boson Whitewater makes water softeners, industrial water treatment systems and recently laucnhed Water Recovery Boson Whitewater system with the vision to emerge as the 3rd source of water after municipal water. The startup is working with IT parks, malls, industries and apartment complexes to recover potable water from their STP treated water. Founded by Pranav Malhotra and Mamta Malhotra in 2019, Mumbai-based TruNativ brings transparent, nutritionally balanced, and healthy food alternatives for people who care about nature and health. It sells its products through its website and various other ecommerce portals In February 2022, Bengaluru-based Bosan Whitewater had raised Rs 3.45 crore in a funding round led by IAN (Indian Angel Network) and others whereas TruNativ raised an undisclosed amount in seed funding round in April 2021.

Lamark Biotech raises Rs 6.5 Cr in pre-Series A round led by IAN Group

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Lamark Biotech raises Rs 6.5 Cr in pre-Series A round led by IAN Group
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Lamark Biotech raises Rs 6.5 Cr in pre-Series A round led by IAN Group Lamark's proprietary ProteoStrong platform enables the stabilization of fragile protein-based drugs, such as insulin, monoclonal antibodies, and enzymes, without altering their molecular structure. Biopharma startup Lamark Biotech has raised Rs 6.5 crore in a pre-Series A round led by IAN Group, including IAN Alpha Fund, powered by BioAngels, Vinayender Tulla, Nita Roy, and Venkataraman KNK. Domain experts from IANโ€™s angel investors led the round. The Ahmedabad-based company had previously raised $41.3K in a seed funding round led by VIT-TBI and others. The fresh funds will be utilized to accelerate the development of thermostable insulin and expand the biologics platform for global access, Lamark said in a press release. Founded in 2018 by Vaibhav Bhatia, Lamark Biotech aims to reimagine drug delivery for chronic and life-altering diseases. Its proprietary ProteoStrong platform enables the stabilization of fragile protein-based drugs, such as insulin, monoclonal antibodies, and enzymes, without altering their molecular structure. According to Lamark Biotech, it leverages the R&D base of Venture Center, NCL Innovation, and it is advancing a new class of temperature-resilient biologics that retain potency across extreme conditionsโ€”ideal for underserved regions where cold storage infrastructure is limited. With its lead program, InsulinStrong, Lamark is targeting the Rs 4,000 crore Indian insulin market and intends to expand across Southeast Asia and the UAE. In the next 24 months, it plans to file new international patents, begin early clinical trials, and build partnerships with pharma companies, CDMOs, and global health agencies.

IAN Group appoints Info Edgeโ€™s Chintan Thakkar as Group CEO

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IAN Group appoints Info Edgeโ€™s Chintan Thakkar as Group CEO
Medial

Early stage investment platform IAN Group has appointed Chintan Thakkar as Group CEO of IAN Group. The move comes as part of a broader strategy to augment the Group and build it to fuel future growth. Chintan will also provide critical guidance to the recently launched IAN Alpha Fund as a Senior Managing Partner for the Fund. Formerly the Group CFO & Whole time Director at Info Edge India, Chintan is a seasoned leader in finance, governance, and strategic growth and brings over three decades of experience, vision, and leadership to the IAN Group. At Info Edge, Chintan played a pivotal role in the companyโ€™s transformation from a small cap to large cap company with 18x market capitalisation growth, helped execute landmark capital market and M&A transactions, and was deeply involved in the companyโ€™s investments in early stage companies as well as in launching AIFs for startup investments. โ€œIAN is one of Indiaโ€™s most respected names in the investment world. Its commitment to investing in innovation that addresses real problems or meets national strategic imperatives truly excites me. I look forward to making a significant contribution alongside the IAN Board and the team,โ€ said Thakkar. IAN enables entrepreneurs to raise from Rs 50 lakhs to Rs 50 crore on a single platform, along with mentoring and global market access. The Groupโ€™s investment thesis has been to invest in startups in emerging sectors led by exceptional founders solving real problems or building for Indiaโ€™s strategic imperatives, while giving exceptional investor returns. Over the last 19 years, it claims to have consistently returned capital with multiples in high double digits.

IAN Group marks final close of $100 Mn Alpha Fund

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IAN Group marks final close of $100 Mn Alpha Fund
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IAN Group marks final close of $100 Mn Alpha Fund Early-stage investment platform IAN Group has completed the final close of its second venture capital vehicle, the IAN Alpha Fund, with a corpus of $100 million. The fund aims to back early-stage, tech-enabled startups addressing major industry and societal challenges. Its investment focus spans sectors such as artificial intelligence, space tech, semiconductors, climate, healthcare, and other frontier domains. The Alpha Fund saw backing from a mix of institutional and government-linked investors, including funds like the Self-Reliant India Fund, SIDBI Fund of Funds for Startups, ACE Fund, and Odisha Startup Growth Fund, along with insurance and family-office investors. According to IAN, several of its initial portfolio companies, 10 to 12 so far, are led by first-generation founders based in tier-II and tier-III cities. IAN enables entrepreneurs to raise from Rs 50 lakhs to Rs 50 crore on a single platform, along with mentoring and global market access. The Groupโ€™s investment thesis has been to invest in startups in emerging sectors led by exceptional founders solving real problems or building for Indiaโ€™s strategic imperatives, while giving exceptional investor returns. Over the last 19 years, it claims to have consistently returned capital with multiples in high double digits. The fund follows IANโ€™s broader vision of supporting startup growth across geographies and sectors, with a stated aim to help founders in smaller cities get the same opportunities as those in major urban centres. In August this year, IAN Group had also appointed Chintan Thakkar as Group CEO of IAN Group.

MiClient raises seed round from IAN Group, others

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MiClient raises seed round from IAN Group, others
Medial

MiClient, an AI-driven B2B sales enablement platform, has raised Rs 3.9 crore in its seed funding round led by IAN Group with participation from Anicut, GSF, RTAF, and Keiretsu. Vikas Kuthiala and Pratik Mathurkar from IAN led the round. The round follows an initial pre-seed investment in October 2023 from 100x.VC. The proceeds will be used to build a stronger team and expand market presence across more geographies in India. In addition to market expansion, MiClient is developing an AI-based model to create quotations and invoices in seconds, further streamlining the sales process for its users. Led by Swati Sharma, MiClientโ€™s easy-to-use CPQ platform helps sales teams close deals three times faster, with the average deal now closing in just 10 days. Expanding further into Indiaโ€™s industrial hubs, MiClient is executing a feet-on-the-street go-to-market strategy. MiClient is expanding into more industrial hubs across India using a direct sales approach. With over 150 customers and over 1,500 users, the company serves SMEs, particularly in the B2B manufacturing sector, with a user-friendly platform.

Health-tech startup Dectrocel raises Rs 4 Cr led by IAN Group-backed BoiAngels

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Health-tech startup Dectrocel raises Rs 4 Cr led by IAN Group-backed BoiAngels
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Dectrocel, a health-tech startup developing AI-powered diagnostic solutions, has raised Rs 4 crore in a funding round led by IAN Group-powered BioAngels along with participation from PadUp Ventures and Vinners. The proceeds will be used to scale its commercial operations across India, enhance AI technology, expand into international markets, and accelerate the launch of new AI tools in CT/MRI/PET-CT and HPB diagnostic modules. Co-founded in 2020 by Ankit Shukla, Saumya Shukla, and Nikhil Mishra, Dectrocel's flagship product, DecXpert, delivers chest X-ray and CT-scan interpretations, is one of only three AI-based diagnostic tools approved for clinical use in India, and claims it is 10x faster with 98% accuracy. Dectrocel aims to bridge the diagnostic gap caused by a shortage of radiologists in India, particularly in smaller cities, by providing quality diagnostics equivalent to those in metro hospitals. The company plans to expand its commercial deployment across OEM partner networks, penetrate the Rs 1,000 crore digital X-ray market, and establish an initial presence in Southeast Asia.

Ambulance startup Dial4242 raises Rs 9 Cr in pre-Series A round

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Ambulance startup Dial4242 raises Rs 9 Cr in pre-Series A round
Medial

Ambulance tech startup Dial4242 has raised Rs 9 crore (around $1.04 million) in its pre-Series A funding round led by IAN Group, with participation from BioAngels, IIM Bangaloreโ€™s NSRCEL, and other notable angels. Earlier in September 2023, Dial4242 had raised Rs 1 crore in its seed round led by investors G Vamshi Raju, Starfish Ventures, and a clutch of angel investors based in Hyderabad. The proceeds will be used to scale operations, improve ambulance turnaround time from 12 to under 8 minutes, expand medical centers in underserved areas, strengthen tech infrastructure, and boost leadership hiring. Founded in 2016 by Jeetendra Lalwani, Nilesh Mahambre, and Atin Verma, Dial4242 runs a tech-enabled ambulance network in India, covering over 850 cities. Its platform enables real-time tracking, automated dispatch, and 24x7 emergency coordination. With a tech-first, asset-light model, the startup has partnered with firms like Amazon, Zomato, and Swiggy to provide emergency care access to gig workers. The brand also plans to launch a low-cost membership model offering free ambulance access, deepen hospital partnerships, and further improve emergency response standards. Dial4242 competes with the likes of MeduLance, HelpNow, ESahai, AmbiPalm and Mo Ambulance among others in the ambulance booking segment.

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