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TriGo Electric secures INR 40 lakhs in angel cum strategic equity funding

Startup News FYI

Startup News FYI · 1y ago

TriGo Electric secures INR 40 lakhs in angel cum strategic equity funding

TriGo Electric, an EV as a Service startup based in Noida, has raised INR 40 lakhs in angel cum strategic equity funding from Ajinkya Firodia, the Managing Director of Kinetic Group. The funding was secured through their participation in the world's first OTT angel investment show called 'Indian Angels' on JioCinema. TriGo Electric plans to utilize the funds to expand their business operations, increase fleet size, strengthen their tech platform, and focus on research and development. The startup aims to revolutionize last-mile deliveries in India through its tech-enabled EV-as-a-Service platform.

Related News

Indian Angels closes Season 1 with 6.5 crore of investment with 13 startups

IndianStartupNews

IndianStartupNews · 1y ago

Indian Angels closes Season 1 with 6.5 crore of investment with 13 startups

Pune-based Digikore Studios concluded the first season of 'Indian Angels', claimed to be the world's first angel investment show. The show, streamed on JioCinema, featured startups pitching their ideas to a panel of seasoned angel investors. In the final episodes, TriGo Electric secured an investment of Rs 40 lakhs for 5.33% equity, while Habbits received Rs 30 lakhs for 15% equity. The show aimed to democratize the investment process and provide learning opportunities for viewers interested in startup investments.

Noida's EV as a service startup Trigo Electric raises Rs 40L at Indian Angels Show

IndianStartupNews

IndianStartupNews · 1y ago

Noida's EV as a service startup Trigo Electric raises Rs 40L at Indian Angels Show

Noida-based startup TriGo Electric has secured angel funding of Rs 40 lakh in equity and debt from investor Ajinkya Firodia, Managing Director of Kinetic Group. The funding was raised through TriGo Electric's participation in 'Indian Angels,' a pioneering OTT angel investment show. The EV-as-a-Service startup plans to use the capital to expand its fleet, strengthen its tech platform, and undertake research and development initiatives. TriGo Electric offers electric two-wheeler fleets to ride-sharing and delivery companies with the aim of promoting emission-free last-mile deliveries in India.

12 startups including Bare Wear, Phases, Vastu Ghee and more raised 6.5 Cr in Indian Angels season 1

Startup News FYI

Startup News FYI · 1y ago

Indian Angels Season 1 saw 12 visionary startups, including Bare Wear, Phases, and Vastu Ghee, collectively secure an impressive investment of 6.5 Cr. The show's episodes 7 and 8, featuring promising startups TriGo Electric, Habbits, Priyam Online, and more, are now available for streaming on Jio Cinema. The show allows viewers to invest in these ventures alongside angel investors, creating a unique interactive experience in the world of entertainment and entrepreneurship.

EV maker Corrit Electric secures funding in angel round

VCCircle

VCCircle · 1y ago

EV maker Corrit Electric secures funding in angel round

Corrit Electric, an EV manufacturing company, has raised $602,445 in an angel funding round led by Porush Jain, co-founder of Sportskeeda. The investment will support the expansion of operations and enhance research and development initiatives. Corrit Electric plans to put its delivery electric bike, Transit, into production within the next 3-6 months. The company aims to be present in 25 cities in the next 6 months and had previously raised $9 million in a Series A funding round. The electric bike manufacturing sector has seen significant investments in recent years, with companies like Ola Electric and Ather Energy securing substantial funding.

LIC eyes health insurers; Ola Electric secures Rs 100-crore debt

VCCircle

VCCircle · 1y ago

LIC eyes health insurers; Ola Electric secures Rs 100-crore debt

Life Insurance Corporation of India (LIC) is reportedly looking to acquire one of India's private standalone health insurers, as it seeks to establish a presence in the expanding health insurance sector. LIC, which holds a significant market share in life insurance, is said to be looking for strategic investments to tap into the growing demand for health insurance in the country. In another development, Ola Electric, backed by Ola Cabs, has secured INR 100 crore ($13.53m) in debt funding to support its electric vehicle production plans.

[Update] Zype Raises INR 90 Cr From Xponentia Capital

Inc42 · 18d ago

[Update] Zype Raises INR 90 Cr From Xponentia Capital

Zype, a fintech startup, raised INR 90 crore in funding from Xponentia Capital, with contributions from Unleash Capital Partners and angel investor Tejinder Singh Hara. This funding includes INR 34 crore converted from debt to equity. The capital will be used to expand Zype's product portfolio and enhance its presence in Tier II and III cities. Previously, Zype raised INR 146 crore in a funding round led by Xponentia Capital.

Flexiloans secures Rs 290 crore in funding from Accion, Fundamentum, others

Economic Times

Economic Times · 11m ago

Flexiloans secures Rs 290 crore in funding from Accion, Fundamentum, others

Indian digital lending startup Flexiloans has raised INR 290 crore ($35 million) in an equity funding round led by Accion, Nuveen, and Fundamentum. Existing investor Maj Invest also participated in the round. Flexiloans plans to use the funds to strengthen its credit business and expand operations. The Mumbai-based company, founded in 2016, has raised a total of INR 636 crore in equity funding. It offers term loans and supply chain financing to small and medium-sized businesses.

Punch, Burma Burma, EtherealX & others get VC money; Nazara arm buys DeltiasGaming

VCCircle

VCCircle · 1y ago

Punch, Burma Burma, EtherealX & others get VC money; Nazara arm buys DeltiasGaming

Indian startups Punch, EtherealX, Hyperbots, Neuron Energy, matchmaking platform Juleo, and restaurant brand Burma Burma have announced successful fundraising rounds. Punch, a trading platform, raised $7m from investors including Stellaris Venture Partners and Susquehanna Asia VC. EtherealX, a spacecraft developer, secured $5m in a seed funding round led by YourNest. AI startup Hyperbots raised $2m, while electric vehicle battery manufacturing start-up Neuron Energy raised INR 20 crore ($2.7m). Dating platform Juleo secured $2.5m in angel funding, and Burmese restaurant brand Burma Burma raised a further $2m in equity investment.

Ola Electric IPO: EV Startup Raises INR 2,763 Cr From Anchor Investors

Inc42 · 1y ago

Ola Electric IPO: EV Startup Raises INR 2,763 Cr From Anchor Investors

Ola Electric, a startup, received INR 2,763 Cr in funding from anchor investors at INR 76 per equity share. Key investors include SBI, HDFC, Nippon Life, Nomura Asset Management, Government Pension Fund of Norway, and Fidelity. The company's initial public offering (IPO) has a price band of INR 72-76 per equity share and will conclude on August 6.

Exclusive: InCred Finance Bags INR 400 Cr Debt Funding From Morgan Stanley, Others

Inc42 · 1m ago

Exclusive: InCred Finance Bags INR 400 Cr Debt Funding From Morgan Stanley, Others

InCred Finance, the lending arm of InCred Group, secured INR 400 crore (approximately $46.8 million) in debt funding from Morgan Stanley, Nippon Life India, and others, with equity funding of INR 40 crore from its parent company. The funding was raised through the issuance of non-convertible debentures. This capital infusion comes as InCred Finance prepares for an upcoming IPO, targeting a raise of INR 4,000 crore to INR 5,000 crore later this year.

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