Battery cell manufacturer Rincell Corporation and clothing brand Kidbea secured early-stage funding, the companies said on Monday.
Rincell Corporation has raised $1.2 million (Rs 9.9 crore) in a seed funding round led by U.S.-based NextGen Battery Chem Ventures LLC, managed by Sandiip Bhammer, who also is the founder of India-focussed early-stage investment firm, Green Frontier Capital.
Founded in 2023 by Jignesh Parikh and Jagjit Nanda, Rincell is a battery cell manufacturer that manufacturers performance silicon-graphite, lithium manganese iron phosphate (LMFP) and sodium-ion batteries for government and commercial applications.
"This partnership with NextGen Battery Chem Ventures will help bring our silicon-graphite, LMFP and sodium-ion battery chemistries to market faster,” said Nanda, co-founder, Rincell Corporation.
The company aims to prepare the silicon-graphite batteries for commercial production in 2024.
Plant-based kids clothing brand Kidbea secured $1 million (Rs 8.3 crore) in a pre-Series A funding round, led by early-stage investor Venture Catalysts.
The funding round also saw participation from Agility Ventures and BestVantage Investments, angel investors Sandeep and Upasana Agarwal, (Droom), Ashok Bahadur and Japanese actor Hiro Mizushima.
The investment will used for marketing, team expansion and research and development (R&D) activities along with improving its operations.
Founded in 2021 by Swapnil Srivastav, Mohammad Hussain, and Aman Kumar Mahto, Kidbea is a clothing brand that makes bamboo plant-based children's apparel.
The brand's product portfolio has around 250 stock-keeping units (SKUs), including kids' rompers, bodysuits, reusable cloth diapers, soft toys, and accessories.
At present, Kidbea has a presence on all major online platforms and is available in over 30 partnered stores located in children's hospitals. Additionally, Kidbea has expanded its presence to include the UAE, Bahrain, and Australia.