Ennoventure, BiteSpeed, Zeplyn, Pikndel and LegalKart secured early-stage cheques from various venture capital firms and investors, the companies said Wednesday.
Ennoventure, a SaaS company providing brand protection and authentication services, has closed its Series A funding, bagging $8.9 million (Rs 75 crore) in a round led by Singapore-based Tanglin Venture Partners.
The Massachusetts-headquartered firm, with an R&D centre in Bengaluru, also saw participation from existing investors, including US-based Fenice Investment Group.
"This investment will enhance our product offerings and drive our mission to provide unparalleled brand protection globally," said Ahmad Chatila, chairman of Ennoventure.
In 2021, Fenice invested $5 million in Series A round in the company.
Ennoventure provides digital packaging services, using AI and cryptography to authenticate product units for companies facing risks from counterfeit goods across the globe. It was founded in 2018.
AI-driven e-commerce platform BiteSpeed has raised $3.5 million at the closing of its Pre-Series A funding round led by Peak XV’s Surge.
The investment round also saw participation from venture capital firm Whiteboard Capital, Unacademy CEO Gaurav Munjal, Bella Vita CEO Aakash Anand and META's APAC Head Dhruv Vohra, among others.
With the latest funding BiteSpeed has raised $5.6 million capital in total, which followed two previous rounds totaling $2.1 million led by Surge and Whiteboard Capital.
The startup said it plans to use the funds to drive its hiring efforts across marketing, sales and technical departments as it seeks global expansion. It is looking to double down on its research and development in AI for its product offerings.
The company was founded in 2019 by Vinayak Aggarwal to provide AI-powered marketing, support, and chatbots suite designed for ecommerce brands.
Early-stage investor Leo Capital has led a $3 million seed funding in AI assistant startup Zeplyn.
Leo was joined by several angel investors and early-stage venture capitalist Converge, the company said in a statement.
The company said it will use the funds to expand its team, accelerate product development, and ramp up sales and marketing efforts.
Zeplyn is an AI platform for wealth management firms. It claims to cut down manual work by more than 90%. The company was founded by former Google engineers of Indian origin, Era Jain and Divam Jain.
Logistics startup Pikndel has raised $1 million in a seed funding round led by syndicate fund VC Grid as it aims to expand its delivery operations.
The funding round also saw participation from venture capital firms like D2C Insider Angels, Breathe Capital, Venture Catalysts, and individual investors such as Akash Gupta from Zypp, Keshav Bhajanka and Sanjay Agarwal from Century Plywood, along with some family offices from Kolkata.
Besides supporting Pikndel's expansion plans, the seed funding will also be used to power its last-mile delivery capabilities and the development of additional service offerings for brand partners, the company said.
The New Delhi-based startup was founded in 2022 by Siddharth Batra and Tullika Batra. It provides logistics support to brands using its network of shared dark stores and tech-enabled last-mile fleet.
Legal consultation platform LegalKart has raised Rs 6.5 crore from an existing investor in a fresh funding round as it aims to boost its AI capabilities.
In January 2022, the company had raised Rs 4 crore from Mumbai Angels, a platform for early-stage investors, and IIM Udaipur Incubation Centre as part of the company's pre-series-A round.
It was founded in 2019 by Arvind Singhatiya and provides legal services with AI-driven documentation, consultations, and streamlined digital solutions.