Beauty and personal care marketplace Glamplus, fintech startup Mylapay, edtech startup Ambitio and cleantech startup BiofuelCircle secured early-stage funding, the companies said on Wednesday.
Business-to-business-focused BPC marketplace Glamplus raised $1.9 million (Rs 16.5 crore) in a pre-Series A funding round from a host of investors including Upsparks Capital, Eagle10 Ventures, ITI Growth Opportunities Fund, Inflection Point Ventures and Kube VC along with angel investor Gopal Krishna Varshney and IR Capital Partners.
The funds will be directed towards expansion in tier-I and II cities and to venture into international markets.
Glamplus is a B2B marketplace that assists and allows small, medium and large salons/spas/retail beauty chains to adopt technology for running their day-to-day operations more efficiently. Its SaaS platform offers solutions to optimise the efficiency and productivity of its consumers.
In addition to that, the startup also provides offline and online supply of beauty products, professionals, and personal care to a chain of spas aiming for expansion and market entry into beauty product supply in beauty stores, supermarkets
The startup is currently operational in Karnataka, Chhattisgarh and Odisha.
It aims to cater to 1,000 B2B beauty clients spanning from luxury salons to beauty shops and supermarket chains in the next six months, according to its statement.
Mindeed Technologies and Services Pvt. Ltd, which operates Mylapay has raised $550,000 (Rs 4.6 crore) in a seed round, led by venture capital firm CDM Capital.
The round also saw participation from Singapore-based Saison Capital, the VC arm of Credit Saison and 77 Capital, led by Amit Goel.
Founded in 2019 by Mohanraj Ravi, Santhanakumar Dhanabalakrishnan, and Sundar Balasubramanian, Mylapay is a Chennai-based fintech startup specialising in payment enablement. It provides cloud-based solutions that are designed to optimise the entire card payment processing cycle.
Mylapay intends to use the funds to improve its cloud-based infrastructure by bringing it to an advanced security standard and expanding the scope of its business operations.
The company claims to be Ebitda positive performance in the last two years. In terms of geographical presence, the startup has expanded to the Gulf as it has partnered with a UAE-based client.
Artificial intelligence (AI)-based edtech startup Ambitio has raised $186,684 (Rs 1.55 crore) in a pre-seed funding round, co-led by First Cheque and undisclosed angel investors from the US and India.
Founded in 2022 by Dirghayu Kaushik, Vikrant Shivalik and Vaibhav Tyagi, Ambitio is an AI platform that helps in the admission process of students who intend to join universities abroad.
Ambitio AI Copilot helps applicants to identify courses and craft essays and statements of purpose (SOPs). It claims to have access to a database of around two million admits.
“Our goal is to serve as intelligent digital advisers to students throughout their admissions journey. For years, this information was scattered all over the place and insights were confined to a handful of education counsellors. With the decentralisation of information and emergence of LLMs, all this knowledge can now be used to give personalised admission advice" said Kaushik, co-founder and chief executive officer, Ambitio.
BiofuelCircle has secured an undisclosed amount in a funding round from early-stage investor Mumbai Angels.
“This investment holds promise for supporting industries dedicated to advancing the cause of biofuels,” said Mumbai Angels in a LinkedIn post.
BiofuelCircle is a Pune-based cleantech startup founded in 2020. The startup provides a platform for biomass and biofuel supply chains. The startup's web and mobile apps improve the reach for buyers and sellers and offer digital tools to help create sustainable and scalable business model for bioenergy companies.
In 2022, the startup raised $750,000 in a seed funding round from Spectrum Impact, Better Capital Ventures and angel investors including Shridhar Shukla.
