Deeptech firm Probus, menstrual hygiene brand Healthfab, and agritech firm Agrilectric have secured early-stage funding from various investors, including VCs and family offices, the companies said Wednesday.
Probus Smart Things, a deeptech startup focused on smart grid applications, has raised $5 million (about Rs 43.4 crore) in an extended Series A led by Unicorn India Ventures, which also saw participation from notable US-based and Indian family offices.
The round was a mix of equity and debt financing. Till date, the New Delhi-based startup, which started in 2015, has raised over $8 million in funding.
The funds will be used to scale Probus' current communications tech stack into many smart grid and renewable applications, and for the development of existing expertise in artificial intelligence integration with its patented communications and networking stacks.
Probus was founded by Sunny Jadoon, Ahmad Raza, Anand Singh, Rahul Mishra and Ankit Vaish. It develops integrated hardware and software solutions for utility providers and helps digitize their distribution grid, providing visibility for their network through an integrated end-to-end internet of things (IoT) platform.
Healthfab, a maker of reusable period panty brand, has raised $1 million in a pre-Series A funding round led by Mistry Ventures. The round also saw participation from BeyondSeed, Thrive Ventures, and television show Shark Tank investors Anupam Mittal, Aman Gupta, Vineeta Singh and Peyush Bansal.
Founded by Kiriti Acharjee, Sourav Chakrabarty, and Satyajit Chakraborty in Bengaluru, Healthfab offers menstrual care products such as reusable period panty which is set to receive Bureau of Indian Standards (BIS) certification. It claims to have more than three lakh customers, with a 2.5-3x annual revenue growth rate.
"With this funding, we will deepen our market penetration, ensuring access to our products in every corner of the country, and double down on R&D, driving innovation in functional wear,” Acharjee said in a statement.
Agritech startup Agrilectric has raised $100,000 in seed funding led by angle platform AH Ventures and other angel investors.
The capital raised will be used towards product development, expanding market reach, and improving farmer engagement, AH Ventures said.
Agrilectric Pvt Ltd, founded by Rohan Suresh and Pushpa Gopal, makes electric-powered farming solutions, such as electric tiller and electric brush cutter, for small and marginal farmers.
