[Funding roundup] Ecozen, Rooba Finance, Innovist, Yatrikart, TESSOL, MicroGO, Kytchens raise capital

Climate-smart deep-tech startup Ecozen receives first tranche of Series C funding led by Dare Ventures

Climate-smart deeptech startup ecozen has raised an additional Rs.54 crore in the first tranche of a proposed Rs.200 crore Series C round. The new round of funding was led by Dare Ventures, the venture capital arm of Coromandel International, with equity participation from existing investors Caspian and Hivos-Triodos Fonds (managed by Triodos Investment Management).

Northern Arc, UC Inclusive Credit, Maanaveeya and Samunnati also contributed with debt financing. Ecozen’s early investors include IFA and Omnivore.

Ecozen develops climate-smart deeptech solutions and core technology stacks for a sustainable future, including motor controls, IoT and energy storage. By applying these technology stacks to the agricultural sector, Ecozen, which is revolutionizing the cold chain (Ecofrost) and the irrigation industry (Ecotron), claims to have significantly improved the income of over 100,000 farmers and enabled the generation of over 1 billion units of clean energy (kWh). . Headquartered in Pune, Ecozen was founded on the campus by three alumni of IIT Kharagpur, Devendra Gupta, Prateek Singhal and Vivek Pandey.

Team Ecozen

Institutional crypto and digital asset management platform Rooba Finance raises $1.3 million in IPV-led seed round

Institutional crypto and digital asset management platform Roba Finance has raised $1.3 million in a seed-led round Turning Point Ventures. Also participating in the round were LetsVenture, Endurance Capital, KubeVC and other prominent angel investors. Funds raised will be used for platform development, building a licensed platform abroad and enabling a global GTM.

Rooba’s self-custodial, full-stack digital asset management platform helps institutions, family offices, HNIs, hedge funds, and others to securely hold their digital assets via a Threshold Multi Party Computation-based custody network and trading strategies with a broad Create a range of defi apps. Layer 1 logs, derivatives, etc. all conveniently from a single dashboard.

Innovist raises $3.5 million in pre-Series A round led by Accel Partners and 72 Ventures

Onesto Labsrenamed to innovist, the parent company of Gurugram-based D2C hair brand Bare Anatomy, Chemist at Play (India’s first ceramide-based skincare brand) and SunScoop (a sunscreen-only brand) have raised $3.5 million. The pre-Series A funding round was led by existing investors Accel Partners and 72 Ventures.

Other existing investors Sauce (Manu Chandra) and Arihant Patni (Patni Family Office) as well as new investors Jani Ventures Inc, Nihir Parikh, Rashmi Kwatra (Sixteen Street Capital), Kunal Shah (Cred), Alok Mittal and Shripad Nadkarni (Maverix Platforms & Fingerlix) also participated.

Innovist said it will use the freshly injected capital to further strengthen the company’s R&D capabilities, marketing, hiring and distribution channels.

Rohit Chawla, Founder and CEO of Innovist said: “The Innovist name was coined after we decided to rebrand Onesto because we are a science and innovation driven platform and we wanted the name to reflect that. The journey so far has been incredible. We are grateful to our investors for their renewed confidence in us and for always staying aligned with our vision. Your tireless support has helped lay a strong foundation on which our success is built. With the new capital, we are confident that we can substantially strengthen our infrastructure and continue to grow.”

Tech-enabled transit retail chain Yatrikart raises $450,000 in seed round

They call themselves Bharat ka WH-Smith, Jatrikart has raised $450,000 from Shuru-Up’s digital platform and the Artha Venture Fund in a seed round.

Yatrikart is a technology-enabled transit retail chain that enables micro-entrepreneurship by empowering street vendors and transit station retailers, creating a new retail format –retail on the go. Yatrikart aims to open over 100 new formats by 2023 and will use this investment to expand its infrastructure, improve technology and hire talent.

Yatrikart started operations in October 2021 and has seen tremendous growth since then. Today it has more than 25 shops and trolleys serving millions of customers annually at train stations, bus and taxi ranks and highways. The stores and formats are tailored to customers’ travel needs as the startup has become the trusted source for travel essentials.

Commenting on the investment, Team Shuru-Up said, “We believe it is very difficult to find a startup that solves a problem faced by everyone in the world. After meeting co-founders Gaurav Rana and Shivangee Sharma, it was a no-brainer to join them on their journey as they solve the problem of transit retail.”

Cold chain solution provider TESSOL raises Rs 7.5 Cr from Mela VenturesEx

TESSOL, a globally recognized Indian cold chain solutions provider aiming to solve the last mile distribution problem has raised Rs 7.5 crore from Mela Ventures. Existing investors 1crowdAngels and 1Fund also participated in this round.

Funds raised will be used for geographic expansion, capacity building, team building, new products and application development.

The Mumbai-based startup’s journey is fascinating as it has turned the biggest pain point, namely the impracticability and unreliability of the last mile cold chain in India, into a major opportunity for itself and associated partners.

Commenting on the funding, Rajat Gupta, Founder and CEO of TESSOL said: The pandemic has prompted a sudden surge in demand for last-mile cold-chain food and pharmaceuticals around the world. Having demonstrated our position as a market leader in India, this is the best time to invest in scaling our solutions globally and planning our push into new application areas. We will invest in further enhancing our internal R&D and application engineering capabilities and lay the foundation to be a global leader in this field.

Image source: TESSOL website

Alumni Ventures joins Innoviti’s Series D fundraiser

Alumni Ventures, one of the most active venture capital firms in the world with over 1,000 portfolio companies and over US$1 billion in assets under management, has joined Innoviti’s Series D round, bringing the Series D funds raised to Rs million US dollars). .

Alumni Ventures has received funding from alumni of MIT, Harvard, Princeton, Yale, Stanford and other leading US universities. His network and community are the secret ingredient to identifying world-class opportunities around the world.

Innoviti had completed a second deal of Rs 75 crore from FMO NV, a development finance bank, of the Netherlands in May 2022. With alumni joining the Cap table, Innoviti has raised Rs 160 crore in Series D to date. The Company will raise an additional Rs 140 crore to finalize a Series D round of Rs 300 crore over the next few weeks.

Biotech MicroGO Receives Rs 6 Cr Pre-Series A Funding From Angel Investors

biotech company MicroGO, a pioneer in providing smart and sustainable hygiene and infection control solutions, has raised Rs 6 crore in Pre-Series A funding from angel investors in Kolkata. The funds will be used primarily to strengthen MicroGO’s sales and marketing activities.

Aiming to solve the water, sanitation and hygiene (WaSH) challenges through R&D based manufacturing, MicroGO started its innovation journey in 2016, tested its technologies with anchor customers in 2020 and commercialized the products in 2022 .

MicroGO strives to offer its customers 360° hygiene and infection control solutions through innovative technologies that deliver the right science, providing profitability and environmental sustainability. MicroGO holds patented platforms that have received patents in just 90 days – one of the fastest granted patents in India.

Kytchens raises Rs 6.5 Cr equity from Anicut Capital, fellow marquee investors

kitchensa full-stack “Kitchen as a Service” platform, raised Rs 6.5 crore in the Pre-Series A round led by Anicut, backed by angel investors including Anand Ladsariya, Bharat Jaisinghani and Neeraj Goenka, among others.

Kytchens said the funding will enable it to build a robust and agile team with the right skills and capabilities to accelerate its growth in the Indian market. In addition, the cloud kitchen service provider will aim to expand its presence in Mumbai and nearby cities such as Pune and Nashik in Maharashtra, as well as Tier II markets in South Gujarat.

In addition, Kytchens will provide funding to showcase its services as a strategic partner to enable growth of F&B brands with the strong managed cloud kitchen network comprised of central and delivery Kytchens strategically located to maximize reach.

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