Electric vehicle maker Oben Electric, aviation startup BluJ Aero, ayurveda-based direct-to-consumer startup Sukham and artificial intelligence startup Rannkly have raised early-stage funding, the companies said on Tuesday.
EV startup Oben Electric has secured $4.8 million (Rs 40 crore) in an extended pre-Series A funding round from a host of investors including Stride Ventures and Indian Renewable Energy Development Agency (IREDA), Mumbai Angels and existing investors We Founders Circle, Kalvani Family Office and US India EV Angels.
The startup thus raised cumulatively $8.8 million (Rs 72 crore) in their pre-Series A funding round. In November 2022, it raised $4 million in its pre-Series A round. The round was led by US India EV Angels LLC, followed by Dholakia Ventures and We Founder Circle.
The funding will be used to start the deliveries of their electric bike, fulfill the existing order book, increase production capacity and improve the distribution network.
Founded in 2020, Oben Electric is an EV maker which claims to be designing, developing and manufacturing electric two-wheelers indigenously. Based out of Bengaluru, the startup was set up by Sagar Thakkar, Dinkar and Madhumita Agrawal.
Prior to this round, the company raised over $2 million in a seed round in December 2021 from We Founder Circle (WFC), GVK Family Office, and angel investors.
“The additional infusion of funds was raised after planning the delivery dates and to meet the existing and future customer demand for our product Oben Rorr. The funds will be used to meet our committed delivery timeline that is set for the first week of July,” said Agarwal.
BluJ Aerospace
Aviation firm BluJ Aero has secured $ 2.25 million (Rs 18.45 crore) in a seed funding round co-led by Endiya Partners and Ideaspring Capital. The round also saw participation from Rainmatter Foundation.
The Hyderabad-based startup will use the funds for the development of its first commercial fully autonomous cargo e-vertical take-off and landing (VTOL). It will also use the capital to hire talent, develop its manufacturing facilities and establish the testing infrastructure required to move toward certification.
Founded in 2022 by Maruthi Amardeep Sri Vatsavaya and Utham Kumar Dharmapuri, BluJ Aero is an aviation startup whose proprietary hydrogen-electric e-VTOL aircraft claims to be greener, efficient and cost-friendly as compared to conventional air travel. It has received the SISF (Startup India Seed Fund) grant as well.
"This funding will enable us to build our team, develop core technologies and establish a strategic roadmap for regulatory approvals and market entry,” said Maruthi Amardeep Sri Vatsavaya, co-founder and chief executive officer, BluJ.
Ayurveda-based direct-to-consumer (D2C) startup Sukham secured $275,000 (Rs 2.5 crore) in a pre-seed funding round led by 100X.VC.
The round also saw participation from angel investors Papa CJ, Yash Kotak, Anuj Puri, Ankul Agarwal and Viswanath Ramachandran.
The startup plans to deploy the funding to launch new products and develop its technology stack.
Founded in 2022 by Vivek Krishna, Ananya Sarkar, Ishan Pant and Nitin Deswal, Sukham is D2C brand that helps men with their sexual wellness using safe and effective treatment plans, based on Ayurveda.
The treatment comprises pre-treatment consultation, ayurveda and post-treatment counselling, increasing course completion and retention, and resolving customer problems.
“We have been focused on building a brand that focuses and owns the overall men’s sexual wellness category using treatment regimes like Vajikarana.” said Krishna.
Social-media focused artificial intelligence startup Rannkly has secured $185,000 (Rs 1.5 crore) in a seed funding round led by early-stage vc firm 100x.VC.
The round also saw participation from Riziliant Technologies Pvt Ltd.
The capital will be used for developing technology stack, improving sales capabilities and expanding customer base.
Based out of Noida, Rannkly’s AI-driven platform helps businesses to streamline their online reputation management by centralizing the monitoring, analysis, and response process. With a single dashboard, businesses can create and schedule interactive posts, improving their online presence and customer engagement.
“With this influx of capital, we are positioned to expedite our growth and broaden our reach in helping businesses to manage their online reputation. We aim to deliver an accessible, AI-powered solution that monitors and analyses their online reputation,” said Vishnu Sharma, chief executive officer at Rannkly.
