Drug company Zeelab Pharmacy, EV battery solutions company Cancrie, digital platform for male reproductive wellbeing Raaz, biotech startup Exsure, and fintech startup Spare8, raised early-stage funding, the companies said Wednesday.
Zeelab Pharmacy raised $2.4 million (about Rs 20 crore) in its maiden funding round, led by OTP Ventures.
The company claims to provide medicines at one-ninth the cost to patients. The fresh funds will support the company’s expansion plans, focusing on increasing its retail footprint and enhancing its delivery capabilities, it said in a statement.
Zeelab Pharmacy is involved in the manufacturing and supply of pharmaceutical products. It offers a wide range of products, including medicines, nutritional products, supplements, beauty care, and pet care items.
These products are available through the company’s own pharmacies and online portal. Founded in 2018, Zeelab Pharmacy is based in New Delhi.
Cancrie, a startup specialising in advanced nanocarbon materials for energy storage, has raised $1.2 million in its maiden institutional seed round.
The company plans to use the fresh funds to scale production, accelerate research and development, and forge strategic partnerships to integrate its advanced nanocarbon materials into next-generation energy storage devices.
Additionally, the funding will help the company meet the growing demand for its products, enabling it to produce at least 50,000 batteries per month, according to a statement.
Cancrie focuses on developing advanced carbon materials for energy storage devices with an emphasis on sustainability and performance. Its technology enhances energy storage, extends battery life, and reduces environmental impact by minimizing e-waste and carbon emissions, the company claims.
Raaz, a digital platform targeting male reproductive wellbeing, has raised around $1 million in pre-seed funding led by Fireside Venture and Campus Fund.
The Bengaluru-based startup said the round also saw participation angel investors such as Altaf Saiyed, Raymond Russell among others. The company was founded by Harshit Kukreja and Akash Kumar.
Raaz plans to use the funds to enhance its platform and expand its footprint. It said the investment will support clinical trials, targeted awareness campaigns and development of tech-enabled treatment protocols.
Bhubaneswar-based biotech startup Exsure has raised Rs 3 crore in a seed round led by Unicorn India Ventures.
Founded by Swastika Paul and Abhishek Dutta in 2021, Exsure is a biotech company that develops innovative tools to isolate exosomes—tiny particles essential for medical and plant research.
The company reported five-fold growth and joined an innovation programme in Japan to support its global expansion. Exsure offers products such as Exosure (for cell research), Leucosure (for immune cell isolation), and PlantExosure (a plant exosome isolation tool).
Over the next year, it plans to complete ongoing studies, seek regulatory approval, grow its team, and expand marketing and sales worldwide, the company said in a statement.
Spare8, a Mumbai-based B2B2C fintech startup, has raised an undisclosed amount in its latest funding round. The round was led by Param Agrawal, along with Rajiv Shastri, the former CEO of NJ Asset Management.
The funds will primarily be used to scale Spare8’s distributor network across India, strengthen its technological infrastructure to enhance user experience, and broaden marketing efforts to increase awareness of digital gold investments.
Founded by Ronit Harisingani and Shardul Saiya, Spare8 focuses on making gold investments more accessible in India.
The startup previously raised a pre-seed round of $0.8 million in August 2022, backed by investors including 2am VC, Varanium Capital, Magic Fund, Incisive Ventures, Broom Ventures, and several others. The latest funding will drive the scaling of operations, technology enhancements, and the expansion of distribution networks across India, the statement added.
