Software-as-a-service platform OLOID, headphones maker NG Earsafe, healthtech startup Sushain Wellness and construction startup Modulus Housing have secured early-stage funding, the companies said on Thursday.
OLOID
Business-to-busines SaaS platform OLOID, which provides physical identity and access at workplaces, secured $6 million in a Series A1 round.
The round was led by Yaletown Partners, Exposition Ventures, George Kaiser Family Foundation and Carya Ventures. With the conclusion of the round, the Sunnyvale, California-based startup has raised a total of $23 million in Series A and Series A1 rounds.
OLOID said the latest funding will be used for the ongoing development and expansion, particularly in strengthening its engineering and product development teams in India.
It projects revenue growth to jump 200% in 2024. The company was founded in 2019 by Madhu Madhusudan, Shankar Agarwal and Mohit Garg and provides multimodal authentication software reader that allows employees, contractors and visitors mobile and face access, while coexisting with locks, badge readers and access control system.
Headphones maker NG Earsafe has raised Rs 1.06 crore ($126,073) in a seed round led by Inflection Point Ventures (IPV), as it looks to ramp up marketing and developments of its audio products.
The startup says it makes ENT-certified open-ear headphone which offers "safe listening solutions through air conduction and bone conduction technology".
It said that the funds will be allocated to enhance brand and category awareness, expanding the brand's reach and drive new product development.
NG EarSafe was founded in 2019 by co-founders CEO Meet Shah and COO Raj Shah. Both founders have a management degree and have worked in multinational corporations.
Japanese venture capital firm Enrission India Capital has invested an undisclosed amount in a Chennai-based construction startup's ongoing Series A round.
The VC firm, which invests in Indian startups, said it participated in the funding round of Modulus Housing, a provider of portable, modular infrastructure custom-made in 90 days.
"This investment will enable Modulus Housing to scale its operations and continue solving a critical global issue — providing high-quality, affordable housing solutions that reduce construction time and carbon footprint, Enrission said.
Modulus Housing was founded in IIT Madras by P Gobinath and Shree Ram Ravichandran in 2015.
Sushain Wellness
Healthtech startup Sushain Wellness and Wholeness Pvt. Ltd has secured seed round funding from venture capital firm Prajay Advisors LLP.
The undisclosed amount raised by Sushain, which runs a platform to provide healthcare based on traditional medicine, will be used to "enhance its technological infrastructure and expand its holistic healthcare services ", the company said.
The company said it is preparing to launch a SaaS product within the next two quarters, adding the launch will position it to achieve its goal of acquiring 1 million user base over the coming three quarters.