Sanfe, a women hygiene and intimate skincare brand, on Monday said it has secured $1.5 million (around Rs 12.3 crore) as a part of its Series A2 funding from existing investors Lets Venture, S Chand family office and Seeders.
The round also saw participation from angel investors, Abhay Tandon and Yash Kotak.
Till date, Delhi-based Sanfe has raised a total of $2.5 million across Series A rounds. The startup plans to deploy the fresh proceeds to foray into the offline femcare space.
Sanfe, operated by Redroom Technology Pvt. Ltd, was launched in 2019 by Archit Aggarwal and Harry Sehrawat, both IIT Delhi graduates.
The company’s existing product portfolio consists of stand-and-pee device, organic sanitary pads, pain-relief roll-on and menstrual cups, among others.
“With the additional funding, we will be entering salons and parlours to create a new category in the body care, shaving, and hair removal market in response to rising demand. The purpose is to strengthen the brand positioning and develop trust among women for the brand…we are looking to tap over 500 salons in the upcoming year across metro cities,” said Aggarwal.
Bengaluru-based blockchain startup Dhiway has raised pre-seed funding of $1 million (around Rs 8.2 crore) from Cornerstone Venture Partners fund, Sunicon Ventures and other existing shareholders.
The firm will use the fresh funds for market expansion and scaling up its product portfolio.
Founded in 2019, Dhiway builds data interchange systems and enables companies to deploy governance frameworks to sustain these as sustainable digital assets.
“ As India’s first enterprise blockchain infrastructure, we are currently working with large institutions in the areas of governance infrastructure and allied commercial applications while we continue to scale our business at a rapid pace targeting new domains and use cases,” said Pradeep KP, co-founder and chief executive officer at Dhiway.
“We look at the large opportunity targeted by Dhiway in various multi-stakeholder value-chains across use cases and industries…looking forward to Dhiway leading the evolution of emerging Enterprise SaaS business models in the Web 3.0 world” said Vatsal Bavishi, investment director, Cornerstone Venture Partners Fund.
Cornerstone Venture Partners Fund is a firm set up by former Reliance Industries executives Abhishek Prasad and Rajiv Vaishnav in 2018. The Mumbai-based firm invests in artificial intelligence-based business-to-business technology enablers for consumer and enterprise businesses across sectors like retail and e-commerce, fintech, healthcare and logistics, among others.