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JoySpoon raises more money in seed round

EntrackrEntrackr ยท 7m ago
JoySpoon raises more money in seed round
Medial

Mouth freshener brand JoySpoon has raised Rs 56 lakhs in its ongoing seed round, bringing total funding to Rs 1.81 crore. The latest round was led by Dishit Nathwani, with participation from Prateek Toshniwal, Abhinav Jain, and Ankit Jain, CFOs at CoinDCX, PharmEasy, and others. The fresh funds will be used to expand its manufacturing facility in Ahmedabad, scale its presence across leading quick commerce platforms like Zepto, Swiggy Instamart, and BigBasket in major metros, as well as strengthen its marketplace presence on Amazon and Flipkart, JoySpoon said in a press release. Co-founded in 2023 by Vaishali and Yash Mehta, JoySpoon offers a unique range of low-sugar, supari-free, and all-natural mouth fresheners that cater to the modern consumer's demand for healthier options. The brandโ€™s packaging is also well-suited for gifting hampers, wedding favors, and corporate gifting, with prices for their assorted box starting at just Rs. 145. According to market research, the Indian mouth freshener market was valued at Rs 10,000 crore in 2021 and is estimated to reach Rs 27,491 crore by 2028. The industry is growing at a CAGR of 16%. JoySpoon aims to redefine Indian mouth fresheners, commonly known as mukhwas, with a focus on taste and quality. The company offers modern, well-packaged mukhwas free from artificial colors and flavors. It claims to have launched Indiaโ€™s first functionality-based mukhwas, thoughtfully crafted to address specific concerns like acidity and digestion. JoySpoon aspires to extend beyond offering healthier alternatives and create a brand that empowers women and celebrates both tradition and modernity. The company runs its manufacturing facility in Ahmedabad entirely by women.

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Stable Money raises $20 Mn led by Fundamentum

EntrackrEntrackr ยท 2m ago
Stable Money raises $20 Mn led by Fundamentum
Medial

Bengaluru-based wealthtech platform Stable Money has raised $20 million (Rs 173 crore) in a funding round led by Fundamentum Partnership and participation from existing investors Z47, RTP Global, and Lightspeed. Aditya Birla Ventures also joined the round. The company had previously raised $20 million across Series A and Seed rounds. The proceeds will be used to expand its product suite, onboard new banking partners, and scale distribution. The company aims to add at least eight more banks and NBFCs in 2025. Founded in 2022 by Saurabh Jain and Harish Reddy, Stable Money enables users to invest in fixed-return products like fixed deposits (FDs), recurring deposits, secured credit cards, and bonds. It currently partners with eight banks and two NBFCs, including IndusInd Bank, South Indian Bank, Slice SFB, Ujjivan SFB, Unity SFB, and Suryoday SFB. The platform has over 150,000 users and more than Rs 3,000 crore in assets under management. For the fiscal year ended March 2024, it reported an operating income of Rs 35.3 lakh and a net loss of Rs 12.29 crore.

Relso raises $840K in pre-Seed round led by Venture Catalysts, IPV

EntrackrEntrackr ยท 1y ago
Relso raises $840K in pre-Seed round led by Venture Catalysts, IPV
Medial

Bengaluru-based Relso has raised $840,000 in a pre-seed round co-led by Ventures Catalysts and Inflection Point Ventures. Investors such as Ramakant Sharma (Livspace founder and Global COO), Shantanu Deshpande (Bombay Shaving Co-founder), and Saurabh Jain (Livspace India CEO) also joined the round. The fresh capital will be used for expansion, talent acquisition, team and more, the company said in a press release. Co-founded in early 2023 by Anshul Choubey, Abhinav Agarwal, and Jay Trivedi, Relso describes itself as a โ€˜cloud factoryโ€™ for furniture under the vision of โ€˜Make in India and sell globallyโ€™ motto. The company essentially supplies a wide range of furniture to brands and retailers. Its offerings include different design options, low MOQs, customization, and more. Recently, Venture Catalysts backed lab-grown diamond brand Fiona Diamonds for Rs 6 crore in its seed round.

MiClient raises seed round from IAN Group, others

EntrackrEntrackr ยท 1y ago
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.

Exclusive: Wealthtech startup Stable Money raises $15 Mn in new round

EntrackrEntrackr ยท 1y ago
Exclusive: Wealthtech startup Stable Money raises $15 Mn in new round
Medial

Wealthtech startup Stable Money has raised over Rs 123 crore nearly $15 million in a new round from RTP Capital, Lightspeed India, and Matrix Partner. The Bengaluru-based company has become one of the few startups to close two rounds within a year, especially during the so called funding winter. The board at Stable Money has passed a special resolution to issue 77,135 CCPS at price of Rs 16,019 each to raise Rs 123.56 crore or $14.74 million, its regulatory filing accessed from the Registrar of Companies (ROC) shows. RTP Capital led the round with Rs 54.26 crore ($6.5 million) while Lightspeed India and Matrix Partners India pumped in Rs 34.64 crore ($4.15 million) each in this round. In August 2023, Stable Money scooped up $5 million in its first equity fundraise led by Matrix Partners and Lightspeed. Titan Capital, Mar Shot Ventures and a clutch of prominent angel investors also participated in the round. As per startup data intelligence platform TheKredible, Stable Money will be valued at around $60 million post money. This is nearly four fold jump in valuation from $16.5 million in the last round. Founded in late 2022 by Saurabh Jain and Harish Reddy, Stable Money is building a fixed-return investment platform to provide financial consultation services to investors. The platform will also publish financial literacy content on its online platform to create awareness among investors. A clutch of wealthtech startups have managed to score decent funding in the ongoing calendar year. Recently Deserv raked in $32 million in its Series B round led by Premji Invest. In May, wealth management platform Wealthy raised $5.4 million in a new round led by Alpha Wave Incubation Fund.

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