Foodtech startup Poshn, fintech startup 50Fin and eyewear brand Que secured early-stage funding, the companies said on Monday.
Poshn has raised $4 million in equity and $2 million in debt, in a pre-Series A funding round. Existing investors Zephyr Peacock and Prime Venture Partners participated in the round.
Founded by Shashank Singh and Bhuvnesh Gupta, Poshn is a foodtech startup that aims to improve efficiency in the food value chain in phases that include food processing units, wholesale buyers, institutions, general trade and retailers.
Poshn plans to use the fresh funds to develop its product stack further and expand the business to global markets starting with imports/exports of food commodities in Southeast Asian and Middle Eastern countries.
Prior to this, the startup had raised $4 million in equity funding from Zephyr Peacock and Prime Venture Partners in 2022.
It has also raised debt investments from ICICI Bank, Alteria Capital, UCIC, Northern Arc, Blacksoil and Capsave.
50Fin has raised $550,000 (Rs 4.6 crore) in a funding round from Arali Ventures and Nitin Gupta.
The funding round comes a year after the Bengaluru-based startup raised $525,000 from early-stage investor 100X.VC, Arun Venkatachalam and Keynote Fincorp in 2023.
Founded in 2022 by Aditya Srinivas Prasad and Darpan Tanna, 50Fin is a fintech startup that offers instant loans against mutual funds and shares to customers. It has undertaken strategic partnerships with Fi Money and Bajaj Capital, offering 'lending against securities' solutions to a diverse clientele.
“Over the last year, our distribution capacity has gone up 6x, our products are now generating value across investor classes. We have also launched our B2B vertical, which allows banks and NBFCs to digitise LAS for the clients while automating the entire operations of the product. We are on track to reach profitability in the next 12-16 months'' said Aditya Srinivas Prasad, co-founder and chief executive officer, 50Fin.
Homegrown eyewear brand Que has onboarded Indian cricketer Shikhar Dhawan as an investor. Additionally, Dhawan will also join the company as a brand ambassador.
The onboarding of Shikhar as an investor and brand ambassador will help in the brand’s launch in the market, marketing efforts, and improvements in the product offerings.
Founded by Shashank Saurabh, Abhishek Deep, and Kumar Vagish, Que is an eyewear brand that retails sunglasses.
“I believe Que's approach to eyewear will resonate with consumers seeking premium products that complement their lifestyles. I look forward to representing Que and contributing to its success,” said Shikhar Dhawan.
