Consumer brand Farmley, electric vehicles financier Finayo and food discovery platform Hogr raised early-stage funding, the companies said on Monday.
Farmley
Connedit Business Solutions Pvt. Ltd, which operates nuts and dry fruit brand Farmley, has raised $6.7 million (Rs 55.6 crore) in a pre-Series B round, led by BC Jindal Group. The round also saw participation from existing investors DSG Consumer Partners, Omnivore and Alkemi Partners.
The funding will be utilised for product development, offline expansion and branding, the company said in a statement.
Founded in 2017 by Akash Sharma and Abhishek Agarwal, Farmley is a health snack brand that offers dry fruit and nuts in various flavours and formats. The company claims to have grown over 400% over the last two years and crossed the Rs 300 crore annual revenue rate (ARR).
In 2022, the brand secured $6 million as a part of a Series A round co-led by Singapore-based DSG Consumer Partners, Alkemi Ventures, Omnivore and Insitor Partners along with other angel investors.
Finayo
Finayo has raised $1.9 million (Rs 16 crore) in a funding round from non-banking financial companies (NBFCs) F Mec International, Choice Finserv Pvt Ltd (CFPL), along with undisclosed angel investors.
The startup secured a mix of equity and debt funding but did not disclose the exact quantum of equity and debt infusion.
“We want to utilise this funding to invest in technologies and expand our footprint across India,” said Brajendra Singh Tomar, co-founder and chief executive officer, Finayo.
Finayo is an artificial intelligence-based software-as-a-service (SaaS) lending platform in the green mobility space. The platform allows EV lenders, original equipment manufacturers (OEMs) and dealers to authenticate, manage and generate instant loan offers for EV buyers.
Hogr
Hogr has raised $1.2 million (Rs 10 crore) in a seed funding round from cloud kitchen startup Curefoods.
This funding will be used by the Bengaluru-based startup to expand its application’s reach, develop its technology stack and update the present application.
Founded by Jugal Thachery and Harish Harshan, Hogr is a social platform that allows users to discover new restaurants and dishes through personalised recommendations from their contacts, family, friends, and other food enthusiasts whose taste preferences match theirs.
It offers tailored suggestions for informed dining choices and building a broad food network.
Meanwhile, Curefoods commenced operations in 2020 and operates several brands like EatFit, Yumlane, Aligarh House Biryani, Masalabox and CakeZone. It operates over 150 multi-brand cloud kitchens and seven food factories to serve over 200 locations in 15 cities.
"Hogr addresses and streamlines the challenge of discovering new dishes and restaurants, as well as forming a food community via peer-to-peer recommendations," added Ankit Nagori, founder of Curefoods.