Four tech startups from different sectors – BatX, Kapture CX, Peptris Technologies, HouseEazy - have raised early-stage funding, the companies announced Tuesday.
Battery recycling startup BatX Energies has raised $5 million (Rs 41.6 crore) in a pre-Series A round, led by Zephyr Peacock.
The round also saw participation from LetsVenture and existing investors like the family office of Mankind Pharma, Excel Industries and Jito Angel Network.
The new infusion of funds will be used to scale recycled battery-grade lithium, nickel, and cobalt production and establish a nationwide reverse logistics network.
Founded in 2020 by Utkarsh and Vikrant Singh, BatX Energies recycles used batteries into battery-grade materials. Using its proprietary hydro-electro process, BatX extracts 99.9% pure lithium, nickel, cobalt from the black mass high yield.
Prior to the current round, the company had raised a total funding of $1.96 million over two rounds in 2021 and 2022.
"We're directing the funds towards R&D initiatives, improving the production of superior battery-grade materials. This investment will allow us to expand globally and establish micro facilities nationwide," said Vikrant Singh, co-founder and chief technology officer, BatX Energies.
SaaS firm Kapture CX has raised $4 million (Rs 33.3 crore) in a funding round from homegrown private equity firm India Alternatives.
The Bengaluru-based startup plans to expand its presence overseas and for product and tech stack development.
Founded by Sheshgiri Kamath and Vikas Garg, Kapture CX is a SaaS-based customer support that helps improve customer experience by streamlining and automating support over calls, e-mail, chat, WhatsApp and other direct channels.
In July, the startup had raised $4 million in a Series A funding round from Cactus Venture Partners (CVP).
It currently counts Meesho, BigBasket, Tata1MG, Reliance, Unilever, and ITC as part of its client portfolio.
Bengaluru-based drug discovery company Peptris Technologies has raised $1 million (Rs 8.3 crore) in a seed funding round led by deeptech-focused venture capital firm Speciale Invest.
Founded in 2019 by Shridhar Narayanan, Narayanan Venkatasubramanian, Anand Budni and Amit Mahajan, Peptris uses AI to go through large data sets to identify and develop potential drug candidates quickly and cost-effectively, thus reducing lab testing time.
The current funding will help the startup accelerate its artificial intelligence (AI)-based discovery programs and create a pipeline of potential drug candidates.
The startup is broadening its research scope to include rare diseases in addition to its ongoing work in oncology and inflammation.
HouseEazy has raised $1 million (Rs 8.3 crore) in a seed funding round led by Antler. The round also saw participation from India Accelerator, AC Ventures, Agility Ventures, Finvolve Ventures and angel investors like Pirojsha Godrej (Godrej Properties) and Sandeep Aggarwal (Droom).
The funds raised in this round will be used to further build the startup’s distribution and develop its technology stack, the company said in a statement.
Founded by Tarun Sainani and Deepak Bhatia, HouseEazy is an online marketplace for pre-owned homes. It uses a proprietary machine-learning algorithm to provide real-time price offers, eliminating the need for multiple meetings and negotiations for sellers.
The platform offers pre-verified options, showcased with tools like virtual staging, 3D walkthroughs and drone shoots, enabling buyers to shortlist easily. It also provides in-house value-added services such as instant mortgage processing and legal support to its customers.
“We have already clocked an annual recurring revenue (ARR) of Rs 250 crore while maintaining profitability and expect to hit Rs 1,000 crore ARR in the next 12-15 months from the NCR market alone,” said Bhatia, co-founder at HouseEazy.
LGBTQIA+ community-focused mental health startup Evolve has raised $300,559 (Rs 2.5 crore) in a follow-on funding round, led by Indian Angel Network. The round also saw participation from Rajesh Ranavat (Fung Strategic Holdings) and other undisclosed angel investors.
The company plans to use the funds raised for product development, improving its technology stack and expanding its business offerings to diversity, equity and inclusion (DEI) initiatives within corporates.
Founded in 2020 by Anshul Kamath and Rohan Arora, Evolve's application aims to cater to different audiences through curated content along with support groups and connecting users with qualified coaches. It is also experimenting with features incorporating generative AI to offer personalised interventions at scale.
The startup claims to have around 600,000 users globally. It had previously raised Rs 3 crore in a pre-seed round in July 2022.
