The Week that Was: Indian Startup News Overview (1st July - 5th July)
The Indian startup ecosystem has set a new record by bagging another round of funding in a few sectors like D2C, Health & Wellness, Home-Furnishing, Lifestyle & Agri-tech marking another win for the startupreneurs by raising funds and updating the growth probability and standardizing the products and services. The week went by successfully witnessing funds in every stage of funding from Seed to Pre-Seed to Pre -Series A to Series A to Pre-Series D.
Sector: D2C
Funding Round: Seed Funding
Startup: EleFant
Established Year: 2023
Funding News: D2C Toy library brand the EleFant bags $750,000 in Seed Funding Round
An app based toy-library platform the EleFant which is headquartered in Mumbai has recently raised 
6 crore in a seed funding round
6 crore in a seed funding round
Investors: Venture Catalysts and Malpani Ventures.
The startup 'the EleFant' was established by Sourabh Jain in 2023. Their mission is to redefine the way India interacts with toys and play, offering a vast selection of toys and books for children aged 0-12 years.
The brand is offering a diverse range of toys having collaboration with more than 70 brands with 600 options. The brand claims to have attracted a customer base of 13,000 registered users and 1,000 fully paid subscribers.
The startup has announced that, the freshly lifted funding will be utilized in its supply chain aiming to reduce delivery times and costs. They are also planning to invest in data analytics to serve the customer better.
Expressing his enthusiasm, Sourabh Jain, Founder, the EleFant stated, “This fundraise is a testament to our vision to change the way India interacts with toys. With the support of our investors, we are poised to revolutionize playtime by making it more sustainable, educational, and accessible for all children.”
Sector: Health & Wellness
Funding Round: Pre-Seed Round
Startup: Amocare
Established Year: 2023
Funding News: Lifestyle-focused Startup Amocare lifts $400,000 in Pre-Seed Funding round
Amocare, a pioneering wellness startup has successfully raised $400,000 in its Pre-seed Funding round.
Investors: FAAD Network and AngelBay Holdings
According to the company’s statement in a press release, the fresh funds raised in the funding round will be utilized towards streamlining the business operations, formulating wellness products under the category of intimacy, constructing a highly credible brand and concentrating on carrying consumer attention.
Established in the year 2023 by Prabhat Maheshwari, Amocare presents premium intimate wellness products and services along with a concentration on natural solutions. The product range of the startup ranges from personal & wellness care to intimate hygiene that meet the demands of holistic wellness. In order to reproduce the beliefs of nature, love and science, Amocare develops a value of intimacy through its all-inclusive approach to improve the intimate wellbeing among the duos.
The Gurugram-based Amocare privileges that it will be amplifying its range of products and distribution in the global markets such as Eastern Europe and the United Kingdom through one of its strategic financial backers.
Sector: Home-Furnishing
Funding Round: Pre-Series A
Startup: Wify
Established Year: 2019
Funding News: Home Furnishing Startup 'Wify' pockets $3 million in Pre-Series A
Wify, a Home furnishing installation startup has raised 25 crore (approximately $3 million) in pre-series A round. Previously, the Mumbai-based startup has lifted $2 million in its Seed round in the month of July 2022.
25 crore (approximately $3 million) in pre-series A round. Previously, the Mumbai-based startup has lifted $2 million in its Seed round in the month of July 2022.
Investors: Mount Judi Ventures, Capria Ventures, Blume Ventures and other investors.
The fresh funds raised in a funding round will be utilized to integrate deeper into current key categories with more value-added services, develop into new categories and hasten the building capacity, technology and software enhancements.
Established by Vikram Sharma & Deepanshu Goyal in 2019, Wify underscores and bridges the gap between expertise technicians and modern home brands. The SaaS platform presents scaled order management, on-site project arrangement and management & real-time tracing and tracking solutions for consumers and brands.
Speaking to this fundraise, the Co-Founder & CEO of Wify, Vikram Sharma says, “This funding will help accelerate our growth through technology deployment and inorganic growth opportunities. It will help realize our vision of becoming the number 1 brand for up-gradation, repair, and maintenance of urban homes”.
Sector: Lifestyle
Funded Round: Series - A
Startup: Comet
Established Year: 2023
Funding News: Stylish Sneaker Brand 'Comet' clutches 42.3 crore in Series A
42.3 crore in Series A
Comet, a new-age sneaker brand has lifted 42.3 crore (approximately $5 million) in its Series A funding round. For the Bengaluru-based company, this is the very first round of investments in 2024. According to the startup’s regulatory filing retrieved by Registrar of Companies shows, the Comet’s board has passed a special resolution to issue 10 equity and 50,076 Series A CCPS at an issue price of 8,445 each to hoist 42.3 crore or $5 million.
42.3 crore (approximately $5 million) in its Series A funding round. For the Bengaluru-based company, this is the very first round of investments in 2024. According to the startup’s regulatory filing retrieved by Registrar of Companies shows, the Comet’s board has passed a special resolution to issue 10 equity and 50,076 Series A CCPS at an issue price of 8,445 each to hoist 42.3 crore or $5 million.
Investors: Elevation Capital, Nexus Ventures & AngelList India
The startup will utilize this fresh capital for wealth expenses, business development, marketing and general corporate commitments according to the business plan.
As per the startup intelligence platform TheKredible, Comet has been estimated at nearly 167 crore or $20 million after allotment. Comet has lifted its seed capital in the month of February in previous year.
167 crore or $20 million after allotment. Comet has lifted its seed capital in the month of February in previous year.
After the fresh fundraise, Elevation Capital and Nexus Ventures will clutch 20% each meanwhile AngelList India will hold 2.22% of the capital in the company.
Established in the month of July 2023, Comet is a stylish lifestyle sneaker brand for both men & women that sells its products via its own website. The existing portfolio of the startup comprises CometX, Aeon & Slides.
Sector: Agri-tech
Funding Round: Pre-Series D
Startup: Arya.ag
Established Year: 1982
Funding News: Post-Harvest Service providing Startup 'Arya.ag' nets $29.2 million in Pre-series D
India’s comprehensive post-harvest services provider Arya.ag has successfully lifted $29.2 million (242.36 crore approximately) in Pre-series D Funding round.
242.36 crore approximately) in Pre-series D Funding round.
Investors: Asia Impact & Quona Capital via Quona Blue Earth & Accion Quona.
According to the estimation of TheKredible, the startup has been estimated nearly 2,700 crore ($325 million in post-allotment). The company may bag more additional funds and the total valuation will differ as a result.
2,700 crore ($325 million in post-allotment). The company may bag more additional funds and the total valuation will differ as a result.
To date, Arya.ag has lifted about $110 million including $60 million in Series C funding round directed by Asia Impact SA, Lightrock, & Quona Capital in the year 2022.
Arya.ag is an inventive e-commerce platform for grains which connects agri-sellers (producers) and buyers. Also, it offers supplementary services such as debt and warehousing services to farmers via external or third-party lenders.
Contrasted to several companies of its sector in a same age, Arya.ag reported a profit rate during the financial ending March 2023. Meanwhile, the venture’s gross scale surged 49.48% Y-o-Y to 290 crores in the financial year 2023, its profits expanded 11X to 7.58 crore in the same period of time. In the market, the startup competes with Ninjacart, Bijak & DeHaat and so on.
290 crores in the financial year 2023, its profits expanded 11X to 7.58 crore in the same period of time. In the market, the startup competes with Ninjacart, Bijak & DeHaat and so on.
