Climate financing startup Two Point O Capital, fleet management and vehicle leasing company LetzRyd and coffee brand First Coffee secure early-stage cheques, the companies said on Wednesday.
Climate financing platform Two Point O Capital raised $6.3 million in seed funding round. The round was led by Omnivore, with participation from Multiply Ventures, RTP Global, GrowX, Spectrum Impact and other investors.
The startup plans to use the fresh funds to improve its tech-enabled platform for sourcing, financing and monitoring distributed projects in clean energy sectors and to expand its team.
Founded by Archit Mehrotra, Karan Bhutani, Manya Ranjan and Shashidhar Reddy in 2024, Two Point O offers flexible financing solutions for distributed clean energy projects in the commercial and industrial sectors.
First Coffee, a grab-and-go specialty coffee brand, raised $1.2 million in seed funding round, led by BEENEXT. The round also saw participation from other leading investors such as Ashish Gupta (Helion Venture Partners), AngelList India, Ritesh Malik (Innov8), Sahil Malik (Da Milano), Chandini Purnesh (Harley Coffee Estate), Aman Arora and Agastya Dalmia (Keventers), Aman Bahel (Apex Group), Nakul Dev Chawla (Art Mumbai) and Shriram Nene.
Founded by Sohrab Sitaram and Shiv Dhawan in 2024, the brand will deploy the funds to drive the company’s expansion. It aims to expand its store presence in key urban areas across New Delhi and NCR and tier-I cities in North India.
The company is set to open 35 stores across the country by the second quarter of next fiscal year. The funds raised will also be used for hiring and amplifying marketing efforts, it said in a statement.
LetzRyd
Unleash Capital Partners led the seed round in fleet management and vehicle leasing company LetzRyd with an investment of $1 million. The total size of the round remains undisclosed.
The company plans to use the funds to scale its operations to 1,000+ cars and four newer cities with a mix of EVs and ICE vehicles. Founded in 2023 and headquartered in Bengaluru, the company is currently present in Hyderabad with 150+ cars deployed.
LetzRyd is a vehicle leasing and fleet management company which provides ride hailing companies with cars and drivers and drivers/fleet operators with access to vehicle ownership.
The company is currently posting about $1.5 million ARR and plans to grow 3x from here in the next one year, it said in a statement.