Artificial intelligence-backed sales pipeline readiness company RevSure on Wednesday said it has secured seed funding of $3.5 million (around Rs 27 crore) led by Innovation Endeavors, with participation from a host of angel investors.
Founded by Deepinder Singh Dhingra in 2021, RevSure provides companies with insight into sales pipeline health and how to prioritize marketing and sales investments.
“B2B companies are struggling with driving predictable revenue growth that requires a combination of pipeline generation and conversion. While there are revenue intelligence tools for pipeline conversion and sales forecasting, intelligence for pipeline generation has been an afterthought. This impacts all revenue teams - marketing, SDRs and sales that drive the pipeline generation journey,” said Dhingra.
Insect biotech startup Loopworm has raised seed funding of $3.4 million (around Rs 26.52 crore) in a round co-led by Omnivore and WaterBridge Ventures, with participation from Titan Capital and angel investors including Nadir Godrej (Godrej Agrovet), Sanjiv Rangrass (former ITC official) and Akshay Singhal (Log9 Materials).
The Bengaluru-based company will use the fresh money for acquiring talents, building labs and ramping up production.
Founded by IIT Roorkee graduates, Ankit Alok Bagaria and Abhi Gawri in 2019, Loopworm claims to optimize multi-species insect farming for smallholders while producing nutrients and ingredients for B2B customers.
“We also plan to use the new funding to set up our first Loop Factory in North Bangalore, hire talent, and accelerate research and development,” said Bagaria and Gawri.
“Loopworm sees potential in transforming cultivated insects into value-added nutrients and ingredients and Omnivore believes the company will become one of India’s leading biotech startups,” said Mark Kahn, managing partner of Omnivore.
Kuzagan Technologies Pvt. Ltd, which operates social commerce startup Winuall, has raised Rs 17 crore (around $2.2 million) in a pre-Series A funding round co-led by Dream Incubator and Inflection Point Ventures.
The round also saw participation from existing investors Prime Venture Partners and Beenext.
The Bengaluru-based platform plans to use the fresh funds to boost product and tech capabilities, rope in leadership talents and ramp up marketplace business.
Winuall, founded by Ashwini Purohit and Saurabh Vyas in 2019, aims to help tutors to grow their business by adopting technology which helps in the overall teaching and learning experience both for students and the tutors. The startup claims to have sold over 35,000 courses in the last four months and has raised over Rs 38.5 crore to date.
“We are already break-even and are on track to make our marketplace business profitable in the next 3 months. At Winuall, we are building a content marketplace with strong supply, understanding user patterns and recommending the best suitable content for the student. By our social commerce model, we have better margins to share with our educators and provide affordable content to students,” said Purohit.
Non-banking financial institution (NBFC) Indium Finance has secured fresh funding of Rs 4.5 crore (around $563,000) in an undisclosed round led by Indian Angel Network.
The Mumbai-based fintech startup will deploy the fresh proceeds to onboard more customers, build product platform and expand teams across sales and technology.
Founded by Shalabh Mohan and Vivek Kumar in 2019, Indium Finance offers financing solutions to SME borrowers to bridge the gap of working capital financing options. It also provides digital financing solutions for B2B purchases migrating to online platforms.
“A lot is being done in the SME space, but still, we believe that it has potential for growth through innovative digital financial services solutions. We will enable SMEs that face difficulties accessing financing due to a lack of collateral or required documentation,” said Mohan and Kumar.
Growfitter
Mumbai-based health and fitness discovery platform Growfitter Pvt. Ltd has raised additional funding of $500,000 in an extended pre-Series A round co-led by Venture Catalysts and Baksh Capital.
The startup plans to use the fresh capital in building technology infrastructure, expanding business operations, hiring and branding.
Founded by Sanmati Pande and Harshit Sethy in 2015, Growfitter is a digital platform that adds financial benefits to one’s physical activity and offers a monthly subscription to cover all the healthcare expenses. The app uses a motion-sensing proprietary algorithm to predict whether a person is walking, running, in a vehicle or cycling.
“Venture Catalyst has been a great support by providing not just growth capital but also strategic partnerships to scale the business to new heights,” said Pande, Co-founder and CEO of Growfitter.
“The initiative taken by Growfitter to make fitness more rewarding caught our attention and we wanted to become a part of the startup’s journey. Our primary focus would be to help fund the advancement of Growfitter’s technology and infrastructure, while furthering business development,” said Apoorva Ranjan Sharma, co-founder and president at Venture Catalysts Group.