Healthtech startup Sugar.fit and cold storage and warehouse firm Indicold secured early-stage funding, the companies said on Wednesday.
Sugar.fit
Sugar.fit has raised $5 million (Rs 41.4 crore) in its ongoing Series A funding round, taking the total for the round to $16 million. The round was led by B Capital and saw participation from MassMutual Ventures and existing investors including, Tanglin Venture Partners, Endiya Partners, and Cure.Fit.
The new capital will be used to expand Sugar.fit's technology stack and product range, increase brand presence and improve its research and development in diabetes management.
Founded by Madan Somasundaram and Shivtosh Kumar, Sugar.fit is a healthtech startup that seeks to manage and reverse diabetes through a data-driven approach. Sugar.fit uses continuous glucose monitoring technology (CGM), which helps users see the real-time impact of various food and lifestyle activities on their blood sugar levels to optimize metabolic health.
In 2021, Sugar.fit raised $10 million in a seed funding round from health and fitness company Cure.fit, Endiya Partners and Tanglin Venture Partners.
Indicold
Cold storage firm Indicold has raised an undisclosed amount in a pre-Series A funding round from early-growth stage focused investment firm Fundalogical Ventures.
The funds will be used to focus on technology development, expanding into new geographies and hiring new employees.
Founded in 2019, Indicold is a B2B cold storage and warehousing solution provider. The company works across the entire cold supply chain through three verticals namely Store, Move and Prepare. Its client base includes Amul, Unilever, Britannia, Zomato, Jubilant Foodworks, Theobroma, Baskin Robbins, amongst others.
It is setting up a frozen automatic storage and retrieval system - a high bay warehouse with over 7,000 pallets in Gujarat.
