Ride-hailing application Snap-E Cabs and software-as-a-service (SaaS) startup Rupyz secured early-stage funding, the companies said on Monday.
Snap-E Cabs has raised $2.5 million (Rs 20.7 crore) in a pre-Series A funding round led by Inflection Point Ventures (IPV).
The startup will use the funding to develop its technology stack, expand presence across geographies and hire talent.
Founded by Mayank Bindal and Jaydip Mukherjee in 2022, Snap-E-Cabs is an EV fleet operator based out of Kolkata.
The platform claims to have clocked Rs 35 crore in annual recurring revenue and claims to operate a fleet of 600 EVs in Kolkata. The startup targets to expand its fleet by adding 300-400 EVs by the end of FY24 and by FY25, the company aims to extend services to 2-3 additional cities as well as add 1,500-2,000 EVs.
Meanwhile, Inflection Point Ventures (IPV) is an early-stage investing platform. IPV marked the first close of its $50 million category-II alternative investment fund (AIF), Physis Capital in 2023. The firm invests in pre-Series A to Series B growth-stage startups from the fund.
Aarogya Tech
Aarogya Tech has raised $1.8 million (Rs 15 crore) in a seed funding round led by Hasu P Shah, the founder and chairman of Hersha Hospital Trust.
Shah will also be joining the board of Aarogya Tech, the company said in a statement.
The infusion of new funds will be used for product development and hire talent.
Founded by Prashant Trivedi and Lokendra Thakur in 2023, Aarogya Tech is a healthtech startup based out of the US and Bengaluru. The startup offers data-driven, clinician-led personalized health services at users' doorstep.
The startup has developed a disease-specific patient monitoring system to decrease chronic heart failure readmission rates and has launched a personalized health management solution DocSeva.com with over 10 businesses in Bengaluru.
Business-to-business (B2B) SaaS startup Rupyz has raised $1.2 million (Rs 10 crore) in a seed funding round led by early-stage venture capital firm Merak Ventures. The round also saw participation from undisclosed angel investors.
Rupyz aims to onboard over 3,000 businesses in the next 12-15 months. The latest investment will be utilised to strengthen Rupyz's core technological offerings as well.
Founded by Dhaval Radia, Gourav Gupta, Akshay Gupta and Palash Lunia, Rupyz is a SaaS platform enabling B2B commerce and omnichannel distribution for FMCG and consumer brands.
Rupyz presently claims to oversee a network of 85 brands with around 6,500 distributors and 250,000 retailers.
"Rupyz's omni-commerce approach is not just improving operational efficiencies but is amongst the first brands to change how firms, distributors, retailers connect, communicate and do business,” said Radia, co-founder and chief executive officer, Rupyz.
Papa Pawsome
Petcare brand Papa Pawsome has secured $400,000 (Rs 3.3 crore) in a seed funding round led by early-stage investor Indian Angel Network (IAN).
The funds raised will be used for product development and expansion of offerings as well as geographical presence. It will also use the funding to improve the overall customer experience.
Papa Pawsome retails around 24 stock-keeping units (SKUs) ranging from hygiene essentials like shampoos, serums, massage oils, training sprays to grooming services,
“The Indian market lacked effective and quality-driven pet hygiene products. We aim to provide products that don’t compromise on quality,” said Nishita Agarwal, co-founder, Papa Pawsome.
IAN started as an angel network in 2006 and floated its maiden VC fund in 2017, which had a corpus of Rs 375 crore and was closed in 2019. IAN Fund 1 invested in companies such as Phool.co, Dhruva Space, WebEngage, Wow! Momo and Propelld.
Besides its VC funds, IAN Group includes early-stage investment platforms like IAN Angel Group and BioAngels.