Deeptech startup DiFacto, climatetech startup EcoRatings and foodtech startup Devigere Biosolutions and antimicrobial manufacturer Nanosafe, secured early-stage funding, while YCombinator-backed BharatX has acquired healthcare finance startup Zenifi, the companies said on Wednesday.
Robotics and automation solutions provider DiFacto has raised $4.8 million (Rs 40 crore) in a Series A funding round from Stakeboat Capital.
Established in 2007, Bengaluru-based DiFacto is an industrial robotics-based solutions company, with three factories in Bengaluru and branches in Pune and Gurugram. The company operates globally, including a wholly-owned subsidiary in the US.
At present, the company, founded by Ajay Gopalswamy, Yogesh Kumar and Anil Kumar Satapathy, operates across four segments namely: welding systems, material handling systems, foundry and machine tending systems and fluid dispensing systems.
“This capital will fuel our growth and improve our market position. India’s automotive industry is one of the many areas that use robotic automation. It is expected to experience a compound annual growth rate (CAGR) of 12.7%, reaching $512 billion by 2026,” said Gopalswamy, founder and chief executive officer of DiFacto.
EcoRatings has secured $1 million (Rs 8.3 crore) in a pre-seed funding round from a consortium of investors including We Founder Circle, 888 VC, Vinners, Indigram Labs Foundation and Google in a mix of equity and grant.
However, the split of the equity and grant was not disclosed. The startup will use the funding for product development.
Founded by Aditi Balbir, Aqeel Ahmed and Shruti Anand, EcoRatings is a generative artificial intelligence (AI)-based startup that aims to build a unified knowledge platform for Environmental, Social, and Governance (ESG) requirements.
The platform enables organizations to meet sector-focused goals related to ESG. It analyzes datasets for answers by processing only contextually relevant data from internal and external sources, turning insights into real-time chat replies.
The platform also allows companies to achieve goals like net zero, decarbonization strategies, mapping scope-3 emissions, sustainability reporting and compliance across frameworks and geographies.
Nanosafe
Nanosafe has raised $375,396 (Rs 3.13 crore) in a seed funding round, led by Indian Angel Network (IAN) Group. The round also saw participation from IIM Lucknow Enterprise Incubation Centre (IIML EIC).
This round will help the company expand its operations in new markets, according to its statement.
Nanosafe focuses on developing anti-microbial active copper technology for polymers, textiles and coatings. Its formulations utilize active copper — a micronutrient that is safe for food and water applications. These formulations offer comprehensive activity against multiple strains of bacteria, viruses, algae and fungi.
The company aims to establish its technology across five key market segments namely: water, textiles, automotive, construction and foam.
The startup has been able to tap into the water tank manufacturing industry, as it counts companies such as Astral Tanks, P4 Water Tanks, and Supreme Water Tanks, as part of its client portfolio.
Devigere Biosolutions
Foodtech startup Devigere Biosolutions Pvt Ltd has raised an undisclosed amount in a funding round from Nithin Kamath’s Rainmatter.
Founded by Smitha Devigere, the startup produces plant proteins. Its patented technology produces water-soluble protein concentrate from pulses, which is 100 % chemical and solvent-free.
The startup is based out of Bangalore and aims to provide protein ingredients for the protein nutraceuticals and functional food sectors. By November 2024, the startup aim to have the capacity to produce 60 tons of protein per year.
Buy-now-pay-later (BNPL) fintech startup BharatX has acquired healthcare finance startup Zenifi for an undisclosed amount, thus foraying into the healthcare lending business.
By way of the transaction, Padam Kataria, the co-founder and chief executive officer of Zenifi will join BharatX as the head of business – healthcare, to build a healthcare lending vertical.
Zenifi, founded in 2023 by Kataria, Harshit Shrivastava, and Rajendra Kulkarni, provides zero-cost and low-cost EMIs to improve conversion rates for healthcare providers, helping them convert walk-in patients by providing them affordable payment options for their treatment.
Meanwhile, BharatX was founded in 2019 by Mehul Jindal, Eeshan Sharma, and Shyam Murugan. It enables embedded credit on consumer-facing platforms such as white-labeled BNPL with zero risks to the platforms and easy integration.
In 2022, the startup raised $4.5 million in a seed funding round from Y Combinator, 8i Ventures, Multiply Ventures, Soma Capital and Java Capital. The round also saw participation from angel investors including Harshil Mathur of Razorpay), Mamaearth’s Varun Alagh, Ankur Aggarwal of Dunzo and Cred’s Kunal Shah, among others.