Top deals of the week
Startup TeaMonk raises about Rs 4 cr from investors to expand business
Premium tea brand TeaMonk has raised Rs 3.5 crore from investors including Inflection Point Ventures to expand in domestic and global markets.
The funds raised in a pre-series A round will be utilized for domestic penetration and exploring uncharted territories in international markets, the company said in a statement.
Agritech startup Poshn raises $3.8 million funding led by Prime Venture Partners
Agritech platform Poshn has raised $3.8 million (Rs 28.8 crore) in a funding round led by Prime Venture Partners, with participation from Zephyr Peacock. The startup plans to use the fresh capital to grow aggressively and hire across tech and business functions.
Also read: Weekly Funding Update – India (Apr 16 – Apr 22)
Kalaari Capital backs AI-based platform Convin.ai in seed funding
Artificial intelligence-driven platform Convin.ai.ai said it has raised Rs 16 crore (around $2.1 million) in its seed funding round led by Bengaluru-based, Kalaari Capital.
The Bengaluru-based startup plans to deploy the fresh capital to hone its end-to-end assisted selling platform and expand product and go-to-market (GTM) teams.
Skillmatic raises Rs 121 Cr led by Sofina Ventures
Direct to consumer (D2C) educational product brand Skillmatics has raised a new round led by Sofina Ventures. Existing investors Sequoia Capital and Smiti Holdings also participated in the Series B round. The fresh round for the Mumbai-based company has come after a year. It had raised $6 million Series A in June 2021.
B2B firm TravClan snags $4.7 mn from Hashed emergent fund, others
TravClan Technology India Pvt Ltd, which runs global business-to-business (B2B) travel platform TravClan, it has raised $4.7 million (around Rs 36 crore) in its extended pre-Series A funding round led by Hashed emergent fund.
The additional capital raised within three months of the previous round allows us to double down on investing in product and technology as we look to rapidly scale 10x over the next year.
D2C start-up Earth Rhythm raises $8 million in funding round led by Nykaa
Homegrown skin and personal care brand Earth Rhythm has raised $8 million in a Series A round led by leading beauty retailer Nykaa. Existing investor Anicut Capital also participated in this round.
“Nykaa’s investment is a clear endorsement of our efforts to clinically effective and technology-driven skincare and haircare brands. This investment will enable us to further strengthen our position as a leader in the clean beauty segment. We are keen to leverage this capital for the rapid expansion of our thriving e-commerce platform and omni-channel distribution capabilities to reach new and existing geographies. We will also use the funds to hire senior talent, for brand building, and to cater to the increasing demand for products both domestically and in the international markets,” said Harini Sivakumar, Founder and CEO, Earth Rhythm.
B2B etailer Geniemode pockets $28 mn from Tiger Global, Info Edge
Geniemode Global Pvt Ltd, which runs business-to-business (B2B) tech platform Geniemode, has secured Series B funding of $28 million (around Rs 214 crore) led by Tiger Global.
The Gurugram-based startup plans to use the fresh capital to deepen its penetration in key global markets. It also eyes to boost its India and Southeast Asia supplier base.
FreshMenu Bags $6.5 Mn From Former Blackstone MD’s Fund
Foodtech and cloud kitchen startup FreshMenu will be raising $6.5 Mn or INR 50 Cr from former Blackstone India MD Cyriac Mathew’s Florintree Advisors. The startup in an extraordinary general meeting held in the last week of March decided to allot 1.4 Mn Series C non-cumulative compulsorily convertible preference shares and 100 equity shares to Florintree.
Telehealth platform Truemeds secures $22 M in Series B funding round led by Westbridge Capital
Truemeds, a telehealth platform, has raised $22 million in a Series B fundraising round led by private equity firm Westbridge Capital. Existing investors such as InfoEdge Ventures, Asha Impact, and IAN Fund took part in the fresh investment round. The round was oversubscribed by new and existing investors alike.
The funds will be used to help the company expand its coverage across the country and accelerate expansion in the untapped home market.
