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Spyne, The Energy Company, Swish Club, Dynolt pocket early-stage money
VCCircle
·
5m ago
Medial
Spyne, The Energy Company, Swish Club, and Dynolt, each engaged in different technology sectors, have secured early-stage funding to aid their growth and expansion. Spyne, focusing on AI-powered automotive visual merchandising, raised $16 million to enhance its platform and market reach. The Energy Company secured $2 million for battery intelligence and fast-charging tech. Device service provider Swish Club earned $4.5 million to expand its rental offerings. Dynolt obtained $1.7 million for advancing clean energy power electronics solutions.
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DaaS platform Swish Club raises $4.5 Mn in pre-Series A
Entrackr
·
5m ago
Medial
Devices-as-a-Service (DaaS) platform Swish Club has secured $4.5 million in a pre-Series A funding round, including $3.3 million in equity and $1.2 million in debt financing. The equity round was led by Powerhouse Ventures, along with participation from Blume Ventures, Founders Fund, Touchstone Ventures, Eternal Capital, and Atrium Ventures. The round also included other investors such as Livspace’s Anuj Srivastava, Ajit Reddy, Deb Dutt, and Tushar Patel. The Bengaluru-based company had previously raised $1.26 million from its existing investors and others. Founded in 2023 by Dushyant Sapre, Suraj Kumar, and Jai Anand, Swish Club is a one-stop solution for enterprise devices, end-point management, and security software. The platform handles the entire lifecycle of a device, from sourcing, configuration, administration, security, and safe returns to upgrades. According to Swish Club, DaaS also allows enterprises and their employees to choose their preferred laptops and smartphones from manufacturers like Apple, Samsung, HP, Dell, and Lenovo and partners with more than 125 enterprises. Swish Club claims to have onboarded over 125 enterprise clients, including Max Life Insurance, Bennett and Coleman, HDFC Life Insurance, PepsiCo, Informatica, Philips, GMR, RPG Group, Landmark Group, and Zensar, as well as startups such as Whatfix, Zetwerk, Meesho, Plum, Allen, Porter, Bold Care, FamPay, Zolvit, Qila Games, and Addverb. "Managing corporate devices is a complex, multi-step process involving procurement, financing, asset management, and eventual recycling. Each step requires different vendors, leading to cost implications, lack of transparency, and multiple back-and-forths. Swish Club is simplifying this with India’s first digital Device-as-a-Service (DaaS) platform, helping businesses remove these depreciating assets from their balance sheets and reduce IT costs from 10% to just 3% of total capex—all with just a few clicks through a dedicated platform," said Dushyant Sapre, CEO & Co-founder of Swish Club. Swish Club states that under its Device-as-a-Service (DaaS) solution, it has introduced India’s first digital platform for laptop rentals for enterprises and smartphone leasing for corporate employees. The enterprise device rental solution comes with four free pre-bundled software solutions: Asset Management Portal (AMP), Mobile Device Management (MDM), antivirus, and device cleaner. In India, Swish Club competes with unorganized players, while at the global level, it faces competition from companies such as Grover and Everphone.
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Transition VC leads $1.7 Mn round in Dynolt Technologies
Entrackr
·
5m ago
Medial
Transition VC leads $1.7 Mn round in Dynolt Technologies Deeptech startup Dynolt Technologies has raised $1.7 million in its seed round led by Transition VC. Marquee angel investor Yashowardhan Shah also participated in the round. The proceeds will be used to expand its footprint in mobility through higher power chargers with wide bandgap semiconductors for fast charging stations. It also plans to enter new sectors like solar and hydrogen with its solutions for high frequency inverters and DC-DC converters application. Founded in 2022 by Rajesh Sura and Teja Kumar, Dynolt develops power electronics solutions for clean energy sectors such as e-mobility, energy storage, renewables, and hydrogen. In the e-mobility space, Dynolt claims to have deployed more than 14,000 power converters across the country which have collectively surpassed more than 30 million charging cycles. It enables efficient control of the power converters using embedded software and makes Dynolt’s products scalable and reusable across various domains expediting product development cycles. The Bengaluru-based startup’s clients include EMO Energy, Sandhar, Bounce, International Battery Company, Numeros Motors, Yulu, Yuma Energy, and River, which have adopted the company’s solutions at scale. The firm’s current product line includes power converters for on-board/off-board chargers for two- and three-wheeler EVs and swapping stations.
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Proost, Swish, PeLocal, Theranautilus bag early-stage cheques
VCCircle
·
8m ago
Medial
Proost, Swish, PeLocal, and Theranautilus have recently announced securing early-stage investments. Proost, a beer startup, raised $3.5 million in a Series-A round led by Chimes Group and Srinivasan Namala. Swish, a food-delivery startup, completed a seed funding round raising $2 million with participation from Accel, Urban Company founders, and Karthik Gurumurthy. Fintech startup PeLocal received $2 million in seed funding led by Unicorn India Ventures and plans to expand its payment services through WhatsApp. Theranautilus, a deep-tech startup, gained $1.2 million in seed funding led by pi Ventures for developing nanorobotic solutions for healthcare.
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Pocket FM completes its first ESOP buyback worth $8.3 Mn
Entrackr
·
1y ago
Medial
Audio series platform Pocket FM announced that the company has completed its first ESOP buyback worth $8.3 million. The buyback of stock comes soon after $103 million Series D funding announced by the Bengaluru-based company. Former and existing employees, holding vested stocks in the company, participated in this process, the company said in a press release. The company was valued at $750 million during the latest fundraise and has been growing at a high speed. According to PocketFM, it surpassed $150 million (Rs 1,250 crore) ARR, and is growing at 57% QoQ. In 2023, it processed over 20 million transactions and claimed that its US revenue crossed $100 million in average revenue run rate (ARR) during the last calendar year. The buyback has come at a time when Pocket FM is reportedly in late-stage conversation to raise a new round which would catapult it to the unicorn club. Pocket FM is the fourth growth stage company that has announced stock buyback in 2024. Recently, e-commerce company Meesho rolled out its largest ESOP buyback worth $25 million for 1,700 employees (past and current). Community management app MyGate and edtech company Classplus also announced their employee stock buyback program earlier this year. As per data compiled by TheKredible, the total EOSP buyback/payout/liquidity stood at nearly $802 million in 2023. In 2021 and 2022, the buyback amount was recorded at $440 and $200 million respectively. Pocket FM claims 2,000 exclusive audio series and more than 400,000 episodes across genres and languages. While the company’s real financial picture could be decoded when it discloses full-fledged FY24 results, Pocket FM’s revenue zoomed 8X to Rs 148.7 crore in the fiscal year ending March 2023. The firm also improved unit economics and reduced its losses by about three-fourths in the last fiscal year.
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Fiona Diamonds, The Quorum Club secure early-stage funding
VCCircle
·
1y ago
Medial
Fiona Diamonds and The Quorum Club have secured early-stage funding. Fiona Diamonds, a lab-grown diamond brand, raised $724,799 in a seed funding round led by Venture Catalysts. The Quorum Club, a lifestyle hospitality brand, received an undisclosed amount in a pre-Series A funding round from Gruhas. Both companies plan to use the funding to expand their presence and develop their products/services.
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VCs warm up to quick-fashion delivery startups as Knot, Zulu Club raise fresh capital - The Economic Times
Economic Times
·
23d ago
Medial
Venture capital is significantly increasing in the quick-fashion delivery sector, with startups like Knot and Zulu Club attracting early-stage investments. Driven by event-focused, social media-influenced shopping habits, platforms like Slikk, Snitch, and Newme are innovating fast delivery in fashion commerce. Knot recently raised $3 million to expand operations, while Zulu Club secured $250,000. These trends highlight the evolving consumer demand for rapid fashion delivery and tight curation, especially among Gen Z.
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Pocket FM sweeps 46% of startup funding this week
Economic Times
·
1y ago
Medial
Pocket FM secured 46% of the $223 million funding obtained by Indian startups this week. Growth-stage deals dominated with 79% of the funding, while early-stage deals constituted 11.2%. The week's funding marked a 67% decline from the previous year. Additionally, other notable deals include The Good Glamm Group raising $30 million, Curefoods securing $25 million, Ultrahuman raising $35 million, Jumbotail obtaining $18 million, and Optimo Loan receiving $10 million in funding.
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Power electronics startup Dynolt Technologies raises Rs 14.7 crore from Transition VC
Economic Times
·
5m ago
Medial
Dynolt Technologies, a power electronics startup, has secured $1.7 million in seed funding from Transition VC and angel investor Yashowardhan Shah. The funds will be used to expand into mobility and sectors like solar and hydrogen, developing high-power chargers and converters. Founded in 2022 by IIT alumni Rajesh Sura and Teja Kumar, the company aims to lead in power electronics for e-mobility and clean energy. They have over 14,000 deployed converters in India, partnering with various clients.
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Startup news and updates: Daily roundup (April 21, 2025)
YourStory
·
3m ago
Medial
Aiming to revolutionize device procurement for businesses, Swish Club offers an affordable subscription model for new gadgets, addressing performance and financial constraints. Meanwhile, KRAFTON India Gaming Incubator expanded its cohort to six, supporting emerging gaming hubs. The Bharat Project launched to empower entrepreneurs from smaller towns. Ivory secured $1M to enhance brain health technology. AICTE and IG Drones will establish 50 Drone Centres for tech skill development, and AnyMind Group acquired Japanese e-gifting company AnyReach to boost e-commerce growth.
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How Swish Plans To Come Out Of The 10-Minute Food Delivery Gallows Alive
Inc42
·
12m ago
Medial
Swish, founded by former members of crypto company Pillow, is a start-up in Bengaluru that offers fast food delivery in the HSR layout area. The company plans to expand by setting up 45 cloud kitchens in high-demand locations over the next six months. Currently, Swish receives around 150-200 orders per day, with an average order value of INR 250-300.
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