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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.

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Juice brand Alienkind raises $1.2 Mn in Seed round

EntrackrEntrackr · 3m ago
Juice brand Alienkind raises $1.2 Mn in Seed round
Medial

Juice brand Alienkind raises $1.2 Mn in Seed round Juice brand Alienkind has raised $1.2 million in a Seed funding round at a valuation of $10 million led by notable industry veterans, including Super.money founder Prakash Sikaria, Ravi Iyer, Arpan Sheth, and others. The proceeds will be utilized for its expansion and scale footprint across key metropolitan cities in India as part of its first phase of growth, Alienkind said in a press release. Co-founded in 2024 by Vikram Kakkireni and Abhishek Kumar, Alienkind is a next-generation juice bar that aims to empower the juice ecosystem. The brand aspires to become an extension of its consumers’ personalities, fostering a community that values authenticity and innovation. Since its launch, Alienkind states that it has quickly gained nationwide attention by redefining the Indian Quick Service Restaurant (QSR) segment with its unique value proposition, competitive pricing, and strategic brand positioning.

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.

Jewelbox raises $3.2 Mn in pre-Series A round

EntrackrEntrackr · 2m ago
Jewelbox raises $3.2 Mn in pre-Series A round
Medial

Lab-grown diamond brand Jewelbox has raised $3.2 million in a pre-Series A funding round led by V3 Ventures, with participation from Atrium Angels, Dexter Ventures, Infinyte Club, Samarthya Capital, and existing investor JITO Incubation & Innovation Foundation (JIIF). In March 2024, the Kolkata-based startup had raised Rs 3.7 crore in seed funding from JIIF. The proceeds will be used to grow its store network, build brand awareness, and hire across key departments. Founded in May 2022 by siblings Vidita Kochar Jain and Nipun Kochar, Jewelbox sells lab-grown diamond jewellery through both online and offline channels. The firm reported an annual revenue run rate (ARR) of Rs 38 crore for FY25, up from Rs 16 crore the previous year. Jewelbox currently runs eight stores in six cities—Delhi, Gurgaon, Bengaluru, Chennai, Kolkata, and Guwahati—and aims to expand to 30 stores by the end of 2025. In the lab-grown diamond space, Jewelbox will compete with a clutch of firms, including COLUXE, Fiona Diamonds, Limelight Lab Grown Diamonds, and Firefly Diamonds. Aditya Birla-backed GIVA also offers a lab-grown diamond jewellery line. Last month, Firefly Diamonds raised $3 million in its seed round led by WestBridge Capital. Jewelbox and other new brands have asked the Central Consumer Protection Authority (CCPA) to stop the use of the term "synthetic" for lab-grown diamonds, saying it confuses with imitation stones like cubic zirconia.

HealthCRED raises $1.2 Mn in seed round

EntrackrEntrackr · 10m ago
HealthCRED raises $1.2 Mn in seed round
Medial

B2B healthcare financing startup HealthCRED has raised $1.2 million in its seed round led by Antler India, TRTL VC, DeVC, iSeedVC and Angel List India. The round also saw participation from angel investors including Dr. Subho Ray (President, IAMAI), Nitin Gupta (CEO, Uni Cards), Amit Lakhotia (CEO, ParkPlus) and founders of InsuranceDekho and SEA-based Docquity. The proceeds will be used to enhance customer relationships and expand operations to the Southern and Western parts of the country. The firm will also hire fresh talents and develop B2B loan onboarding and loan management systems. Founded in 2022 by Shrey Jain and Arpit Jangir, HealthCRED provides swift, comprehensive, and adaptable financing solutions tailored for the healthcare sector. Delhi-based HealthCRED partners with hospitals, specialised healthcare service providers (HSPs across nephrology, oncology, and diagnostics), insurers, and pharmaceutical and consumable supply chain partners to deliver financing solutions.

SaaS startup Infurnia raises $1.2 Mn in angel round

EntrackrEntrackr · 1y ago
SaaS startup Infurnia raises $1.2 Mn in angel round
Medial

Infurnia, cloud-native architecture design software startup, has raised $1.2 million in an angel round led by Yogesh Chaudhary, existing investor and owner of Jaipur Rugs. This brings Infurnia’s total angel fundraising to $4.9 million across multiple rounds since its inception. Back in September 2020, the Bengaluru-based startup had raised $240K funding from angel investors including Pallav Nadhani, founder of FusionCharts in. Founded in 2014 by Nikhil Kumar and Lovepreet Mann, Infurnia offers a cloud-based platform for professionals to design buildings, interiors, and modular kitchens. The startup claims to have significantly expanded its client base, adding over 600 clients and reaching $1 million in annual recurring revenue (ARR). Infurnia’s clients base includes LivSpace, Hometown, Purvankara, and Urban Ladder.

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

EntrackrEntrackr · 4m 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.

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