E-commerce platform Jumbotail, deeptech startup Optimized Electrotech, healthtech firm LifeSigns and tech recruiting marketplace Coffeee.io have secured early-stage cheques, the companies said on Tuesday.
Jumbotail Technologies Pvt Ltd has raised $9.1 million (around Rs 75 crore) in a debt funding round from Alteria Capital and Innoven Capital.
The Bengaluru-based startup will use the fresh funds to develop its technology stack, grow net revenues by 100%, and hit operational profitability in next one year.
Founded in 2015 by Ashish Jhina and S.Karthik Venkateswaran, Jumbotail is a business-to-business e-commerce platform that provides storefront deliveries to kirana stores, along with its fintech platform for payment, credit solutions and financial services.
“We will strengthen our position by going deeper into our existing markets and expect to hit full operational profitability across our network in the next 12 months,” said Jhina.
Deeptech and defence tech startup Optimized Electrotech has secured $2.4 million (Rs 20 crore) in a pre-Series B funding round led by the Rajiv Dadlani Group.
The round also saw participation from Equanimity Investments and Venture Catalysts along with family offices and high net worth (HNI) investors.
The Ahmedabad-based startup plans to use the fresh capital for defense-related products and also focus on business expansion in aerospace and defence sectors.
Founded in 2017 by Sandeep Shah, Anil Yekkala, Dharin Shah, Kuldeep Saxena, and Purvi Shah Optimized Electrotech produces indigenously designed, developed and manufactured surveillance systems for security forces, national assets as well as defence and aerospace companies.
In 2021, the company raised $1.8 million in a funding round led by Venture Catalysts, with participation from saw existing backer GVFL and other angel investors.
LS Devices Pvt. Ltd, which operates healthtech startup LifeSigns, has raised an undisclosed amount in a pre-Series A funding round from Chennai-based pathologist SP Ganesan.
Founded by Hari Subramaniam and Shouri Akkineni, LifeSigns develops digital wireless patient monitoring solutions platform for ambulatory, inpatient, and home care settings. Its custom alerts help detect and report any deterioration in patient condition.
“The new fund entering the system will allow us to work more on technology and human resource to improve the user experience, bring efficiency in clinical data delivery, lower infrastructure spending and bring down the cost of healthcare” said Subramaniam.
Tech recruitment platform Coffeee.io has raised an undisclosed amount in its pre-seed round from Riverwalk Holdings.
The Gurugram-based startup will deploy the fresh proceeds for geographical expansion.
Founded in July 2022 by Amit Veer, Ankit Mittal and Neha Sharma, Coffeee.io is a tech recruitment platform that uses artificial intelligence (AI) for hiring pre-assessed developers based on their technical expertise, coding aptitude, communication skills, and logical reasoning. The platform claims to have a pool of over 100,000 developers since its inception.
"We seek to enter the $17 billion cross-border remote developer hiring market with the US ranking highest in terms of demand,” said Amit Veer, founder and chief executive officer, Coffeee.io