Artificial intelligence-backed hair extensions and wig startup Hair Originals has raised pre-Series A funding of $1.25 million (around Rs 10.25 crore) from Anicut Capital, Kesh Kala family office, Jito Angel Network, Lets Venture and former Zomato co-founder Pankaj Chaddah, among others.
The fresh proceeds will be deployed to onboard more talents and boosting up its operations.
Founded by Jitendra Sharma in 2019, Hair Originals is a direct-to-consumer platform that deals in hair extensions and do-it-yourself wigs made from ethically acquired, real human hair. It provides non-surgical solution to provide hair volume, hair length and colourful hair look without damaging hair with chemical of colours.
“We are bringing on a lot of salon partners across numerous locations so that every customer in India could purchase the products and receive installation for free. With the continuous support from our investors, we anticipate achieving 100 crore ARR by the end of 2024,” said Sharma.
Credit-focused fintech startup SaveIn on Monday said it has secured a seed funding of $1 million (around Rs 8.2 crore) from its existing investor Pioneer Fund. The latest round takes the Gurugram-based company’s total seed fundraise to $8 million.
It will use the fresh money for product development and scaling up its team and marketing footprint.
SaveIN was set up in 2020 by ex-banker and fintech professional Jitin Bhasin, who teamed up with Gaurav Luthra (Ex-founder Whatsuplife) and Anurag Varma (ex-EY Hong Kong).
The fintech startup has been working to build a network of healthcare providers, with an aim to offer embedded finance and pay later options at clinics across the country.
It claimed to have onboarded over 2,500 healthcare and wellness centres across 50 cities since its launch of flagship ‘Care now, Pay later’ product in January this year.
“We will continue to invest in people, product and distribution, to realize our vision of facilitating hyper-local, quality healthcare with enhanced affordability for one and all,” said Bhasin.
“While the problem SaveIN is solving has a universal appeal, we have closely observed their execution in India market and couldn’t be more excited to double down on our investment. They have run an extremely efficient business while scaling up rapidly since their launch earlier this year,” said Tiffany Kuo, senior venture partner, Pioneer Fund.
As per an August report by angel platform Connexdoor, fintech startups have raised $3.4 billion in funding as of July 2022 with 191 recorded deals. Out of the total amount raised, 26.7% went into lending tech, 14.6% to enterprise tech, 9.95% to payments tech, 6.81% to insurtech, 21.9% to wealth tech, 7.8% to neobanks, 8.3% to emerging tech, 3.1% to financial inclusion, and 0.52% in marketplaces.
Mumbai-based healthtech platform Medify has raised $1 million (around Rs 8.2 crore) in a seed funding round led by Authum Investment and Infrastructure, with participation from Global Media Ventures India and other angel investors.
Founded by Kairav Shah in 2021, Medify offers medical practitioners and retail pharmacies with a platform that enables improved information management, data analytics, hierarchical access monitoring and patient retention for primary healthcare providers.
“At Medify, our aim is to modernise this entire operation, by providing secure cloud based storage of and access to relevant information and analytics for all primary healthcare providers,” Shah said.
