Legistify Services, a tech-enabled legal concierge platform, said on Wednesday it has raised an undisclosed amount of funds in a pre-Series A round from Titan Capital, Indiamart, and GSF Accelerator.
The company said it has facilitated a highly profitable 5x cash payout for early investors which made partial exits which include Ranjit Singh, global operations chief of Polyplex Corporation, and Ishaan Jalan, co-founder of Interweave Brands. These investors continue to hold minority stakes in the company.
The new capital will be used to fund the expansion of services across geographies and towards the development of new products and services.
Legistify Services, via its flagship product Legistrak, offers a SaaS (software as a service)-based tool which allows enterprises to manage their legal workflows.
Legistify Services said it is currently building a market network for legal services which will be powered by its tech platform. Some of the key features of the Legistrak tool include litigation tracking, notice management, and legal vendor management.
In March, Indiamart Intermesh agreed to acquire an 11.01% stake of Legistify Services.
Direct-to-consumer online brand Flatheads said it has raised $1 million in a pre-Series A round led by startup investment platform We Founder Circle and Dexter Angels.
The round also saw investors including Gaurav Kapur, founder of Oaktree Sports; Sahil Barua, co-founder of Delhivery; and Radhika Ghai, co-founder of ShopClues.
The Bengaluru-based brand said it will use the funds for international expansion and product differentiation.
To date, Flatheads has raised a total of $1.5 million.
“The funding in the D2C sector rose by 251 per cent in the first 7 months of the year 2021. The reason is the newly identified scope of growth, and performance of innovative business models in the field,” Neeraj Tyagi, co-founder of We Founder Circle, said.
Flatheads designs and sells all-day wear casual sneakers; the company said it is the first Indian brand to introduce bamboo fibre shoes
that are suited for the Indian tropical climate.
eShipz
eShipz, a SaaS-based startup offering shipping automation focused on SMBs and large enterprises, said it has raised $700,000 in a funding round led by Indian Angel Network.
The round also saw existing investor Axilor Ventures. The startup is incubated by Axilor, JioGenNext, SAP Startup Studio, and IIM-B NSRCEL.
The company said it will use the fresh funds to improve its tech capability and build stronger teams. A part of the funding will be used towards its expansion, geographically, with its beta launch first and full-fledged launch by the end of the year.
Founded by Shashi S Tripathi, Shivadeep Mahadi, and Ajaykumar R, eShipz aims to help companies manage orders from multiple sources and via multiple courier companies using an integrated dashboard.
IppoPay
Fintech startup IppoPay said it has raised an undisclosed amount of pre-seed funding from Better Capital, Prabhu Rangarajan, co-founder of M2P, and Sailesh Ramakrishnan, partner at Rocketship VC.
The company said it will use this funding to continue to scale its growth to reach 100,000 merchants and expand the suite of offerings for its merchants.
“Bharat merchants account for 30% of India’s GDP involving 460 million people, so catering to the needs of these merchants and bringing them the power of digital banking is significant as it has a direct impact on the Indian economy,” Mohan K, founder and CEO of Ippo, said.
The company says it is building a Brex-like solution for merchants who can now accept digital payments in multiple ways, make payouts digitally to employees and vendors, and view account statements, and more.
Paytail, a fintech startup, said it has raised $1.5 million from Cholamandalam and other marquee angel investors as part of its seed round.
The company said it will use fresh funds to enhance the product and build a strong team to transform the experience of offline buyers.
"We have the vision to create the largest retail BNPL fintech in India and are efficiently working towards it,” Vikas Garg, co-founder of Paytail, said in a statement.
Maple Capital is the investment banker for this transaction, and Stratage Law is the legal advisor to the company.
