Biotech startup East Ocyon Bio, fashion platforms Culture Circle and Mhyth, fintech startup Navanc and personal health brand Power Gummies have secured early-stage cheques, the companies said Wednesday.
Cell and gene therapy startup East Ocyon Bio has raised $4.2 million in a seed round of investment, led by early-stage investor Aeravti Ventures and drug maker Micro Labs.
The Gurugram-based biotech company said the newly raised funds will be put to drive several key initiatives such as pre-clinical testing of therapies CAR-NK and CAR-gamma delta T cell therapy, the creation of a manufacturing facility, and phase-I clinical trials.
The company was founded by doctors Renu and Dinesh Kundu. It says it has been able to demonstrate promising in-vitro data on the efficacy of its allogeneic cell therapy products against solid tumors, which could build the foundation for clinical trials.
Culture Circle, an app which sells sneakers, streetwear and luxury fashion products, has raised $2 million in a seed funding round led by Info Edge Ventures, with participation from angel investors.
The Delhi-based startup said the funding strengthen its marketplace for authentic sneakers, streetwear and luxury fashion.
It was founded by Devansh Jain Nawal and Ackshay Jain and runs a platform for India’s Gen Z luxury fashion customers. The company's SourceX platform helps users to compare prices and access exclusive deals on brands like Nike, Adidas and Jordans at a competitive price.
Fintech startup Navanc, which provides AI-led property score and stack for secured lending, has raised $1 million in a seed funding round led by Prarambh Ventures.
The early-stage investor was joined by Inflection Point Ventures (IPV), Brigade REAP FirstPort Capital, and other angel backers in Navanc's seed round.
The Bengaluru-based startup said it the funds raised will be directed toward expanding operations across India, with a focus on strengthening its presence in urban and semi-urban areas. It will also invest in its AI FinTech capabilities by incorporating Generative AI and Computer Vision models.
Navanc was founded in 2021 by Nagachethan SM and Byomkesh Jha and currently operates in six states.
Health and wellness brand Power Gummies has raised Rs 10 crore ($1.2 million) in a bridge round led by the Jaipuria Family Office and Quadrant.
Joining the lead investors in the round were existing backers 100unicorn, DSGCP, Wipro Consumer, Venture Catalysts, Agility, Sharrp Ventures, Dhianu Das and NB Ventures, the company said in a statement.
Aesthetic Nutrition, which operates Power Gummies, was founded in 2018 by Divij Bajaj and has its head office in New Delhi. It started the brand as a lifestyle brand which it claims is sold as clinically backed gummies for hair, skin, sleep and other wellness solutions.
The latest investment will help the startup to make its products completely sugar-free, followed by "expansion into no-added sugar products and an upgraded composition in the existing range," it said in a statement.
Women's lifestyle brand MHYTH said it has raised an undisclosed sum from angel investors, pegging its valuation to over $1 million within a month of launching.
The company, which provides a collection of premium lingerie for women online, said the angel round was led by Sandeep Daga, Founder and MD of Nine Rivers Capital, and Snehal Shah, a private equity investor.
MHYTH was founded by Mitali Rai and sells on its platform designed lingerie, bodysuits, nightwear, shapewear, among others.