E-mobility startup Battery Smart raised debt funding while consumer brand SkinQ and climatetech startup EcoRatings raised early-stage funding, the companies said on Thursday.
Battery swapping network platform for electric two and three-wheelers Battery Smart raised an undisclosed amount in a debt round from New Delhi-based Trifecta Capital.
Founded in 2019 by IIT-Kanpur alumni, Pulkit Khurana and Siddharth Sikka, Battery Smart offers battery-as-a-service, which enables interoperable battery swapping for two and three-wheeler EVs in under two minutes and reduces the up-front investment borne by a consumer.
The debt funding comes a few months after the startup raised a pre-Series B funding round of $33 million (around Rs 272 crore) from existing investors Tiger Global and Blume Ventures along with new backers such as The Ecosystem Integrity Fund (EIF) and British International Investment (BII).
The company claims to have undertaken 10 million battery swaps by April 2023.
Skincare brand SkinQ has raised $360,698 (Rs 3 crore) in a seed funding round from Inflection Point Ventures (IPV).
The funds will be utilised towards new product launches, research and development, team expansion, and brand enhancement.
Founded by Chytra V Anand, SkinQ is a personal care brand focussed on delivering skincare solutions based on individual skin needs for skin of colour concerns.
“This capital infusion is pivotal in improving our research and development bandwidth, expanding our product portfolio, and amplifying our outreach to a discerning customer base,” said Anand, founder, SkinQ.
On the other hand, IPV is an early-stage investment firm that was launched in 2018 by Vinay Bansal, Ankur Mittal and Mitesh Shah.
Last month, it invested an undisclosed amount in the bridge funding round of the beauty brand Conscious Chemist.
Artificial intelligence (AI)-based sustainability assessments platform EcoRatings has raised an undisclosed amount in a pre-seed funding round from startup accelerator EvolveX.
The funds secured will be deployed by EcoRatings to develop its technology stack, to improve its sustainability assessment frameworks through AI/machine learning (ML) and big data solutions.
Founded by Aditi Balbir, Aqeel Ahmed and Shruti Anand, EcoRatings utilizes AI/ML and big data in place of traditional sustainability assessment frameworks, quantifying environmental impact at the product/service level.
On the other hand, EvolveX is a startup accelerator programme operated by early-stage investor We Founder Circle (WFC). Through the programme, it invests Rs 25 lakh for a 5% stake in a selected company.
A few days ago, the accelerator invested an undisclosed amount in software-as-a-service (SaaS) startup TestnTrack.
