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JITO Shark Angels commits Rs 30 Cr to startups at JIIF Flames Summit

EntrackrEntrackr · 5m ago
JITO Shark Angels commits Rs 30 Cr to startups at JIIF Flames Summit
Medial

Four high-growth startups have secured funding in a bridge round worth Rs 30 crore at a recently held seed funding initiative by JITO Shark Angels. The JITO Shark Angels Pitch & Rise session during the JIIF Flames Summit saw Investors Madanlal Gundecha, Ecosystem Ventures founder Abhishek Sanghvi, Kiran Dantewadia, and Rajesh Jain leading the funding round. The investment was strategically allocated in the D2C consumer tech sector directed towards smart technology and sustainability. These funds aim to accelerate innovation and strengthen India's business landscape by backing ventures with significant growth potential. The JIIF Flames Summit provided a platform for discussions on investment trends, family business governance, and emerging market opportunities. Sessions covered Pre-IPO investments, stock markets, real estate, and gold, along with insights into the impact of Budget 2025 on business decisions. JITO Shark Angels supports high-potential startups across diverse sectors. Internationally, the initiative has also made its mark, with a Dubai edition witnessing a Rs 20 crore commitment from investors across logistics, space, fintech, and SaaS AI. Companies like Elixia and Astrophel Aerospace were among the beneficiaries of this funding. The JITO Incubation and Innovation Foundation (JIIF) is the innovation and entrepreneurship arm of JITO, committed to nurturing ideas and fostering businesses among its members. JIIF provides a platform for startups and established businesses to collaborate, innovate, and scale through strategic support, mentorship, and funding opportunities. It aims to expand impact across industries while promoting sustainable and community-centric growth.

Almonds Ai raises Rs 16 Cr in Seed funding round

EntrackrEntrackr · 5m ago
Almonds Ai raises Rs 16 Cr in Seed funding round
Medial

url: https://entrackr.com/snippets/almonds-ai-raises-rs-16-cr-in-seed-funding-round-8720730 Content: Almonds Ai, a channel loyalty and rewards platform, has raised Rs 16 crore (nearly $1.9 million) in a seed funding round co-led by promoters of Haldiram’s and JITO Incubation and Innovation Foundation (JIIF). The round also saw participation from Venture Catalysts, Ever Grow Capital, Nine ALPS, and other investors such as Hemant Jain and OfBusiness co-founder Nitin Jain. The proceeds will be utilized to accelerate R&D initiatives, expand the team, and enhance product offerings, Almonds Ai said in a press release. Co-founded in 2020 by Abhinav Jain and Apurv Modi, Almonds Ai aims to redefine how brands engage with their distribution networks through cutting-edge AI technology, enhancing engagement, education, and rewards for retailers, dealers, and influencers. Almonds Ai states that its flagship Channelverse ecosystem and green loyalty programs aim to create an impact in AI-driven loyalty management and sustainability, enabling businesses to build deeper, data-driven relationships with their distribution networks. The Gurugram-based company claims to have 100 distribution-led organizations and a network of 6 million channel partners, including retailers, dealers, and professionals such as drivers, painters, and mechanics. Almonds Ai asserts that its AI-powered platform will play a crucial role in optimizing sales channels, improving partner engagement, and driving customer retention across sectors.

Plus Gold raises $1.2 Mn led by JITO

EntrackrEntrackr · 1y ago
Plus Gold raises $1.2 Mn led by JITO
Medial

Gold investment app Plus Gold has raised $1.2 million in a seed funding round led by JITO along with participation from Venture Catalyst, Sonakshi Sinha, Sachin Shetty, Signal Ventures, Varun Dua, Shrish Mishra, Misfits among others. The proceeds will be deployed to raise its tech infra, improve user experience, strengthen security, and develop AI-driven investment advisory features, Plus Gold said in a press release. Founded in May 2022 by Veer Mishra and Raj Parekh, Plus Gold offers gold investments through Systematic Investment Plans (SIPs) or one-time transactions. It enables users to redeem their digital gold investments as physical jewellery at any time. According to the Bengaluru-based company, it weeds out barriers in traditional gold investment, such as storage, purity assurance, and liquidity issues. A part of the proceeds will also be used for hiring engineers, customer service executives and others. Plus Gold is operating in a crowded market as a bunch of well-funded companies have been operating in the space. At present, the online gold investment segment is dominated by PayU and Alpha Wave-backed Indfiagold, Rupeek, Oro Money and Tiger Global investee Jar among others. Large fintechs including PhonePe also added gold buying offering to their app.

Figr, ZenStatement, Swara Fincare, three others bag funding

VCCircleVCCircle · 9m ago
Figr, ZenStatement, Swara Fincare, three others bag funding
Medial

- Figr, ZenStatement, Swara Fincare, Humm Care, and Deftouch have successfully raised funding in their respective sectors. - Figr, an AI-powered design platform, secured $2.25 million in Series A funding led by Kalaari Capital. - Sorich, a pharmaceutical packaging company, received a $1 million investment from BizDateUp to optimize production capacity and enhance working capital. - ZenStatement, an AI-powered finance automation and cashflow management platform, raised $1.62 million in seed funding led by 3One4 Capital and Boldcap VC. - NBFC Swara Fincare secured Rs 19.4 crore as part of Series A Funding, aiming to double its assets by the end of the financial year. - Humm Care, a health-tech platform offering employee healthcare benefits, raised an undisclosed amount in a seed round to scale its services and expand its reach. - Deftouch, an Indian game publisher, raised an undisclosed amount in a follow-on round to develop new games and talent for its gaming studio.

Startup news and updates: Daily roundup (August 12, 2024)

YourStoryYourStory · 11m ago
Startup news and updates: Daily roundup (August 12, 2024)
Medial

Mumbai-based luxury men's brand, Haldèn has raised Rs 5 crore in a seed funding round led by Prajay Advisors. Infinyte.Club, an investment platform, raised $3.6 million in seed funding led by Elevation Capital. AI-driven travel tech startup Ziptrrip secured Rs 2 crore in pre-seed funding. HealthCRED, a healthcare finance platform, raised $1.2 million in a seed funding round. Real estate technology platform Truva raised $3 million in seed funding. MiClient, an AI-driven B2B sales enablement platform, secured Rs 3.9 crore in seed funding. Gupshup, a conversational experience cloud company, hired 20% more employees to meet demand. Adukale, a domestic snacks brand, received funding from NuVentures. US grocery conglomerate Hy-Vee opened an office in Bengaluru. Standard Chartered Bank named Aditya Mandloi as Head of Wealth and Retail Banking in India and South Asia. Asset management firm Pace360 launched a new PMS strategy called Tresor Smart Alpha. KL Rahul invested in AI-powered mixed-reality publishing platform Flam. Karan Johar joined the Fashion Entrepreneur Fund as investor and promoter. CARS24 launched a super app offering various car-related services. T-Hub selected 20 startups for its sustainability cohort. Former India cricket captain Sourav Ganguly joined the board of consulting firm Blue Ocean Corporation as Non-Executive Director.

Startup news and updates: Daily roundup (October 14, 2024)

YourStoryYourStory · 9m ago
Startup news and updates: Daily roundup (October 14, 2024)
Medial

Perceptyne, a robotics startup, has raised $3 million in a seed funding round led by Endiya Partners and Yali Capital. The funds will be used for product development and customer acquisition in the automotive and electronics sectors. Elixia, an Indian subsidiary of Elixia Inc, has secured $1 million in pre-Series A funding led by JITO Incubation and Innovation Foundation. The funding will be used to expand operations in the Middle East and enhance product capabilities. Sustainable marketplace Brown Living has raised pre-seed funding to support its growth and provide market access to more artisans and suppliers. Actor and entrepreneur Rana Daggubati has joined lifestyle brand Kingdom of White as an investor to aid the company's expansion plans.

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