Electric mobility startup Starya Mobility and business-to-business marketplace The Yarn Bazaar have raised early-stage funding, the companies said on Monday.
Electric mobility startup Starya Mobility has raised $2 million (Rs 16.3 crore) in an undisclosed funding round from ah! Ventures High Tables Platform and Exedy Clutch India.
On the back of this fundraise, the startup also entered into a partnership with Exedy Clutch, it said in a statement.
Founded in 2018, Bengaluru-based Starya Mobility is a manufacturer of electric power train and retrofitting of gearless internal combustion (IC) engine scooters.
ah! Ventures has done 183 investments across 121 startups till date, taking its total investment portfolio to Rs 376 crore with 16 exits and 47 follow-on rounds.
It has three platforms namely First Gear, which helps startups raise upto $150,000, Angel Platform, which helps startups raise upto $1 million and High Tables Platform, which helps startups raise $1-10 million.
This is the second investment in the EV space by ah! Ventures in two weeks. Last week, the firm invested $363,854 (Rs 3 crore) in EV two-wheeler maker Kyte Energy.
B2B marketplace for yarn-based products The Yarn Bazaar has raised $1.8 million (Rs 15 crore) in a Series A funding round co-led by Rajiv Dadlani Group and Equanimity Ventures.
The round also saw participation from family offices of Arihant Patni, Ekta Kapoor (Balaji Films), Ritesh Malik (Innov8), Aakrit Vaish (Haptik), Sumeet Srivastava (Spocto) and Miten Sampat (Cred), among others.
The fresh capital will be used to expand its operations, develop its technological stack, scale up its online presence and build its leadership team.
Founded in 2019, the startup provides solutions for yarn-related requirements, including discovery, trading, financing, logistics, advisory, and market intelligence services.