Fintech startup Stable Money, B2B manufacturing logistics platform Bidso, ice cream brand Go Zero, babycare brand BabyOrgano and vegan personal care brand Fitspire have raised early-stage funding, the companies said on Tuesday.
Stable Money has raised $5 million (around Rs 41.4 crore) in a seed funding round co-led by Matrix Partners India and Lightspeed.
The round also saw participation from Titan Capital, Mar Shot Ventures and angel investors including Kunal Bahl and Rohit Bansal (Snapdeal), Harsha Majety (Swiggy), Sandeep Tyagi (Estee Advisors), Abhishek Goyal (Tracxn), Ramakant Sharma (Livspace) and Revant Bhate (Mosaic Wellness) among others.
The funds will be used for strengthening senior leadership, product development and building its technological stack.
Founded in 2022 by Saurabh Jain and Harish Reddy, Stable Money is a fintech platform that aims to provide users with reliable fixed-income investment opportunities such as fixed deposits, debt mutual funds and bonds, along with a range of low-risk asset classes.
It targets to integrate with 25 banks and RBI-regulated institutes by the end of 2024.
“While equities and mutual funds are readily available on various platforms, we recognize the lack of opportunities for fixed return products. We aim to provide a portfolio that acts as a financial safety net for Indian investors, offering safe investment options,” said Jain and Reddy, co-founders, Stable Money.
Bidso
Business-to-business (B2B) manufacturing logistics platform Bidso has secured $1.5 million (Rs 12.4 crore) in a funding round led by PeerCapital, while DeVC and angel investors like Mohit Sadaani (The Mom's Co.), Nishit Garg (RTP Global), OfBusiness Founders Fund, Saurabh Jain (Livspace), Revant Bhate (Mosaic Wellness) and others participated in the round respectively.
The funds raised will be primarily allocated towards expanding geographies and demand channels, improving Bidso’s network of manufacturers, and building out the technology stack.
Bidso is a Bengaluru-based B2B manufacturing supply chain platform that offers a full-stack solution for brand sourcing, from product discovery to supplier discovery to value discovery and fulfillment.
“With the funds raised, we aim to double down our efforts and serve at least 100 brands by enabling sourcing for a minimum of 50 different product categories in the next six months,” said Vivek Singhal, co-founder, Bidso.
Go Zero
Go Zero has secured $1 million (Rs 8.2 crore) in a pre-Series A funding round from a host of investors including DSG Consumer Partners, Saama, and V3 Ventures, along with angel investors Shantanu Deshpande (Bombay Shaving Company), Nikhil Vora (Sixth Sense Ventures); Krishi Fagwani (Thrive) among others.
With the new financing, the company plans to expand its market reach, improve its production capabilities, strengthen its distribution network, and diversify its product lines.
Founded by Kiran Shah, Go Zero is an ice cream brand that offers health-conscious consumers ice creams and other products. The ice cream maker’s product portfolio comprises zero-sugar, high-protein, and low-calorie ice creams.
BabyOrgano
Ayurveda-based babycare brand BabyOrgano has raised $150,000 (Rs 1.24 crore) in pre-seed funding round from early-stage VC fund DevX Venture Fund.
The startup will use the funding for product development, hire talent as well as increase awareness about Ayurveda. It also aims to increase the customer-base by five times.
Founded by Riddhi Sharma and Ripul Sharma, BabyOrgano is a direct-to-consumer (D2C) babycare brand that uses Ayurveda to create natural and safer products for kids.
“The funding comes at a time when we are seeking to expand our product range while increasing awareness about Ayurveda’s intrinsic strengths. Funding will be deployed towards these goals and creating a robust team.” said Riddhi Sharma, founder and chief executive officer, BabyOrgano.
StarCap Wellness Pvt. Ltd. which runs vegan personal care products brand Fitspire, has secured an undisclosed amount in a pre-Series A funding round led by the founders of VC firm LC Nueva and singer Sukhbir Singh.
The round also saw participation from the family office of Jaipurias along with angel investors Ivor Braganza (Next5 Ventures Oman), Dheeraj Jain (Redcliffe London), and existing investor Amit Singhal.
The Delhi-based startup plans to use the funding to expand its market presence in Tier II and Tier III cities in India and globally as well as diversify its product range.
Founded in 2020 by Vipen Jain, Fitspire claims its sales have increased by ten times each year and targets a Rs 300 crore revenue by 2026.
"This investment will help us expand our product range and reach global markets, bringing our plant-based products to more people," said Jain.