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

Ecozen, the smart climate deeptech startup, raises the first tranche of Series C funding led by Dare Ventures

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

Northern Arc, UC Inclusive Credit, Maanaveeya and Samunnati also participated with debt financing. Early investors in Ecozen include IFA and Omnivore.

Ecozen develops intelligent climate deeptech solutions and core technology stacks to deliver a sustainable future, including engine controls, IoT and energy storage. By applying these technology stacks to the agricultural sector, Ecozen claims to have revolutionized the cold chains (Ecofrost) and the irrigation industry (Ecotron), substantially improving the income of more than 100,000 farmers and enabling the generation of more than 1 billion units of clean energy (kWh). Based in Pune, Ecozen was founded on campus by three former IIT Kharagpur students Devendra Gupta, Prateek Singhal and Vivek Pandey.

Ecozen team

Institutional Crypto and Digital Asset Management Platform Rooba Finance Raises $ 1.3 Million in IPV-led Seed Round

Institutional platform for the management of cryptocurrencies and digital assets Rain finance raised $ 1.3 million in a seed round led by Venture of the inflection point. The round also saw the participation of LetsVenture, Endurance Capital, KubeVC and other major angelic investors. The funds raised will be used to develop the platform, create an overseas licensed platform and to enable a global GTM.

Rooba’s full stack digital asset management platform helps institutions, family offices, HNIs, hedge funds and others to securely store their digital assets through a Threshold Multi Party Computation-based custody network and create business strategies with a wide range of Defi apps, Layer 1 protocols, 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

Honest Labsrenamed as Innovist, the parent company of the D2C hair brand based in Gurugram Bare Anatomy, Chemist at Play (India’s first ceramide-based skincare brand) and SunScoop (a sunscreen-only brand) raised 3, 5 million dollars. 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) and 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 newly infused capital to further strengthen the company’s R&D capabilities, marketing, recruitment and distribution channels.

Rohit Chawla, Founder and CEO of Innovist, said: “The name Innovist was coined after we decided to change the brand from Onesto because we are a platform driven by science and innovation and we wanted the name to reflect that. The journey. so far it has been incredible. We are grateful to our investors for their renewed confidence in us and for always aligning with our vision. Their unremitting support has helped lay the solid foundation on which our success rests. With the new capital, we are confident of being able to substantially strengthen our infrastructure and grow further “.

Yatrikart technology-enabled transit retail chain raises $ 450,000 in seed rounds

Calling himself Bharat ka WH-Smith, Yatrikart raised $ 450,000 in a seed round from Shuru-Up’s digital platform and the Artha Venture Fund.

Yatrikart is a technology-enabled transit retail chain, enabling micro-entrepreneurship by empowering street vendors and retailers at transit stations and 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 began its commercial operations in October 2021 and has seen tremendous growth since then. Today it has more than 25 shops and trolleys, serving millions of customers a year in train stations, bus and taxi stops and on highways. Stores and formats are customized to meet customers’ travel needs as the startup has become the trusted source for essential travel.

Commenting on the investment, Team Shuru-Up said: “We believe it is very difficult to find a startup that solves a problem faced by every individual in the world. After meeting co-founders Gaurav Rana and Shivangee Sharma, he was a child’s play to join them on their journey as they solve the transit retail problem. “

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, 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 intriguing as it turned the biggest pain point, which was the unworkability and unreliability of India’s last mile cold chain, into a great opportunity for itself and partners. Associates.

Commenting on the funding, Rajat Gupta, founder and CEO of TESSOL, said: The pandemic has led to a sudden surge in demand for last-mile cold chain food and pharmaceuticals globally. Having demonstrated our position as the market leader in India, now is the right time to invest in the global scalability of our solutions and in planning our foray into new application areas. We will invest to further enhance our in-house research and development and application engineering capabilities and build the foundation to be a global class leader in this industry.

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 $ 1 billion in assets under management, has joined the Series D round of Innoviti, bringing the funds raised in Series D to Rs 160 crore ($ 22 million).

Alumni Ventures has funds from alumni of MIT, Harvard, Princeton, Yale, Stanford and other major US universities. Its network and community are the secret sauce for identifying first-rate opportunities around the world.

Innoviti had made a second close of Rs 75 crore from FMO NV, a development finance bank, from the Netherlands in May 2022. With Alumni joining the cap table, Innoviti raised Rs 160 crore in Series D up to date. The company will raise another Rs 140 crore in the coming weeks towards the final close of a Rs 300 crore Series D round.

Biotech firm MicroGO raises pre-series A funding of Rs 6 Cr from angelic investors

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

With the aim of solving water, sanitation and hygiene (WaSH) challenges through R&D-based manufacturing, MicroGO began its journey of innovation in 2016, experimenting with its technologies with anchor customers in 2020 and product marketing in 2022.

MicroGO aims to provide its customers with 360 ° hygiene and infection control solutions using innovative technologies that provide the right science and provide profitability and environmental sustainability. MicroGO owns patented platforms that were granted patents in just 90 days, one of the fastest patents granted in India.

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

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

Kytchens said the funding will help build a strong and agile team with the right skills and capabilities to accelerate its growth in the Indian market. Additionally, the cloud cooking service provider will aim to expand its presence in Mumbai and neighboring cities such as Pune and Nashik in Maharashtra and Tier II markets in southern Gujarat.

Additionally, Kytchens will allocate funds to exemplify its services as a strategic partner in enabling growth of the F&B brands with the strong managed network of cloud kitchens consisting of Central and Delivery Kytchens strategically positioned to maximize reach.