Performance wear brand Zymrat said it has raised seed funding of $500,000 (around Rs 3 crore) led by Dominor Investment Holding LLP.
The round also saw participation from Anicut Angel Fund, and angel investors including Aditya Somani, Rashmi Daga, Founders - Fresh Menu, among others.
The platform plans to use the fresh funds for extending categories, boost product portfolio, hiring and expanding awareness and visibility reach.
Founded in 2018 by Ujjawal Asthana and Ankita Riva, Zymrat as a brand offers products such as training and running t-shirts, shorts, joggers, among others.
"We are witnessing 5x more demand for our products in the space we operate in. Repeat rate of 40% has been our biggest product market validator that we are moving in the right direction. We are gearing up to launch 30 new SKUs across categories in the next few months,” said Zymrat’s Co-Founder Ujjawal Asthana.
In 2020, the company raised $250,000 (around Rs 1 crore) from Dominor Investment Holding LLP, LetsVenture Angel Fund and a bunch of angel investors.
FeetWings said it has secured Rs 1.1 crore (around $148,000) in a seed funding led by SucSEED Indovation Fund.
The round also saw participation from investors such as Friends of PadUp and Elina Capital.
“A diabetic faces numerous challenges daily. The mental trauma of constantly worrying about one’s health is extremely exhausting and stressful. FeetWings targets such pain points, alleviating the users from the constant state of worry.
This seed fund shall help us in product development and refining our algorithms bringing us closer to achieving this goal," said Siddhant Bhargava, Co-Founder of FeetWings.
Founded in 2020 by Bhargava, Hrithik Jaiswal and Animesh Kumar, FeetWings was set-up to create a pain-free and affordable alternative for measuring blood glucose levels along with a system that alerts diabetics with other associated ailments.
As per WHO, currently, there are around 450 million cases of diabetes in the world, and the number could potentially reach 700 million by 2045.
