Legaltech startup Legistify, coffee chain abCoffee, digital visa application platform StampThePassport and two other startups have raised early-stage funding, the companies said on Monday.
Legistify, a legaltech software-as-a-service (SaaS) platform raised $4 million (Rs 33.23 crore) in a Series A funding round from a host of investors including existing ones like Indiamart, Titan Capital, GSF Accelerator along with US-based Cathexis Ventures, Justin Hamilton and Japan-based Enrission Group.
The company will use the funds for product development, international business expansion and strengthening its customer base in the country.
Legistify claims to work with 300 enterprise customers and its client portfolio includes ICICI Lombard, Whirlpool, IDBI Bank, Coca-Cola, Dabur, Decathlon and TTK Prestige amongst others.
Prior to the current funding round, Legistify had raised an undisclosed amount in a pre-Series A funding round from Titan Capital, Indiamart, and GSF Accelerator. Additionally, by way of the pre-Series A investment, early investors like Ranjit Singh, global operations chief of Polyplex Corporation, and Ishaan Jalan, co-founder of Interweave Brands managed to get a highly profitable 5x cash payout as well.
Specialty coffee chain abCofee raised $2 million in a seed funding round, led by Singapore- and Bengaluru-based Tanglin Venture Partners.
According to a statement, the round also saw participation from other VC players like 100X.VC, Panthera Peak, OTP Venture Partners and other angel investors.
AbCoffee offers a wide variety of brewed coffees at affordable prices sourced from the farms of Chikmanglur in Karnataka.
“This investment will enable us to accelerate our growth. In the coming 8-12 months, we will keep the same momentum of growth,” said Abhijeet Anand, founder and chief executive officer, abCoffee.
Autocracy Machinery secured $1.2 million (Rs 9.97 crore) in a seed funding round led by early-stage investors Venture Catalysts.
Angel investors like Nikhil and Bharat Jaisinghani (Polycab India Limited), Meghna Agarwal (IndiQube), Abhishek Rungta (Seeders), Srikanth Iyengar (upGrad) and Abhishek Modi (Stanford Seed Network) along with HEM Angels, VC Grid and S Four capital participated in this round.
Founded in 2020 by Santhoshi Buddhiraju and Laxman Vallakati, Autocracy’s machinery solutions cater to sectors such as agriculture, telecommunications, landscaping, irrigation, civil engineering and infrastructural development.
The funding will be used to expand Autocacy’s domestic and global distribution footprint, invest in research and development and build its industrial unit to enhance and streamline production.
The Hyderabad-based company claims to have clocked a three-fold increase in revenue in past years and aims to achieve revenue of Rs 60 crore by the FY25.
AltUni secured $500,000 (Rs 4.15 crore) in a funding round led by early-stage investing platform Indian Angel Network. The round also saw participation from a host of angel investors including Vishesh C Chandiok (Grant Thornton Bharat LLP), Ganesh Balakrishnan, Harsh Parikh, Narayan Babu, Supreet Singh, Ashvin George, Prashant Mohanraj, Shreyans Mehta, Amit Monteiro, Raghav Joshi, Mainak Shome, Bhoopesh Jain, Sandeep Bhadresa among others.
The capital raised will be deployed for developing its online platforms and strengthening community engagements.
Launched in 2020, AltUni provides affordable short modules of online learning courses. AltUni’s programs offer a live industry project and personalised counseling. Currently, it is focused on helping candidates build careers in business and management.
The company has an annual recurring revenue (ARR) of Rs 12 crore and claims to be operationally profitable. It previously raised $1 million in 2022.
StampThePassport raised $481,290 (Rs 4 crore) in a pre-seed funding round from undisclosed angel investors. Additionally, the startup announced its official launch as well.
Founded by Vijay Kesavan, StampThePassport provides visa information and allows users to apply for visas. It aims to simplify the process by using technology and providing expert customer support.
"We aim to introduce our services to travelers, businesses, students and everyone across the spectrum and introduce our services to 10 more countries in the next two years," said Kesvan, founder, StampThePassport.
This is the second investment in the visa application space in the last five days. Last week, Atlys raised $12 million (Rs 99.6 crore) in a Series A funding round co-led by Elevation Capital and Peak XV Partners (formerly Sequoia Capital India).
