[Funding roundup] Eggoz, Fabriclore, Veefin and others secure early-stage capital

A bunch of startups — from a fresh eggs platform to a skincare brand— have reported raising early-stage capital.
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As we wrap the year 2021, a bunch of startups — from a fresh eggs platform to a skincare brand— have reported raising early-stage capital.

Two startups, Gurugram-headquartered consumer brand for fresh and chemical-free eggs, Eggoz, and Mumbai-based supply chain fintech company Veefin topped the list today with around $3 million in fresh capital each.

Let's take a look at smaller deals: 

Eggoz raises Series A round

Gurugram-headquartered consumer brand for fresh and chemical-free eggs, Eggoz, has raised $3.5 million in a Series A round led by Nabventures (NABARD), a venture capital fund anchored by National bank for Agriculture and Rural Development (NABARD). Other investors in the round include Avaana Capital, Rebright Partners, Bellerive Capital. Angel investors Sanjiv Rangrass and Indresh Saluja also participated in the round.

The company will use the funding to expand the brand footprint and launch egg-based value-added products, apart from targeting geographical expansion.

Founded in 2017 by IIT Kharagpur alumni Abhishek Negi, Uttam Kumar and Aditya Singh and Pankaj Pandey, Eggoz delivers fresh eggs from farm to retailers in 24 hours. The company has a presence across Delhi-NCR as well as Allahabad, Bhopal, Chandigarh, Indore, Patna, and Ranchi.

Fabriclore raises pre-Series A round

Jaipur-based textile e-commerce platform Fabriclore has raised $700,000 in a pre-Series A round of funding led by Fluid Ventures. Other participants in the round include Bengaluru-based home furnishing manufacturer, Mulberry Silks, and Arizona, US headquartered engineering technology group, Eiffel Industries. 

This is the company’s second round of funding, after it raised $530,000 from Rajasthan Venture Capital Fund in 2020.

The company will use the capital to widen its product portfolio, expand into international markets, launch experience studios, and create an ecosystem of designers. 

Founded in 2016 by Vijay Sharma, Anupam Arya and Sandeep Sharma, Fabriclore provides a digital platform for retail, wholesale and customizable fabrics. The company currently has a supplier base across 14 states and supplies high-quality curated fabrics.

Veefin raises Series A round

Mumbai-based supply chain fintech company Veefin has raised $3 million from Dubai-based HNI Rajesh Rajendran, said the company in a statement. The funding will be used by the company to build its product and engineering teams, it added.

Founded in 2010 by Gautam Udani and Raja Debnath, Veefin offers technology solutions for supply chain financing for bankers, helping them customise solutions. 

“Our vision is to be the global leader in providing technology to lenders for Digital Supply Chain Financing. Our solution has been developed by bankers, for bankers and is the most comprehensive by far in the market. With this funding, we will further amplify Veefin’s feature rich platform, add further product lines, and ensure seamless customer servicing for our global clients,” said Raja Debnath, Co-founder of Veefin in the statement.

Dhurina raises funds from RVCF, LetsVenture, others

Competitive examination preparation platform Dhurina has raised $1.2 million in a round led by RVCF. Other investors in the round include LetsVenture, RBD Publication, India Accelerator, Precision Startup Advisory and Pai Ventures.

The company will utilise the freshly raised capital for technology enhancement, aggressive business growth, hiring and product development. 

Founded in 2019 by Sachin Sardana, Ajay Kumar Rathore, Sanjay Singh Rathore and Murari Singh, Dhurina offers over 350 courses to prepare for over 100 state-level competitive examinations. The e-learning platform offers live classes, recorded lectures, PDF notes, test series and doubt sessions to its user base of over 10 million students. The Dhurina app claims to have been downloaded 2.5 million times. 

It had previously raised $135,000 from Chandigarh Angels Network and Modulor Capital. 

NuShala raises seed round

Lucknow-based school management platform NuShala has announced raising $625,000 in a seed round led by Meraki Labs, backed by leading Indian entrepreneurs Gaurav Agrawal, Kunal Shah and others. 

The company will utilise the capital to strengthen its technology and hiring team, it said in a statement.

Founded in 2021 by Divyam Agrawal and Ratindra Nath Pande, NuShala helps budget schools digitise their operations including fee collection, expense management, salary disbursement, timetable management and student attendance among other functions. Since the last five months of inception, NuShala has a network of 5000 schools it works with. 

StarClinch raises seed round 

Delhi-based artist discovery and live entertainment ticketing platform StarClinch has raised $232,587.5 in seed round led by Artha Venture Fund. Founder and Managing Director of Nazara Technologies, Nitish Mittersain also participated in the round.

The company will utilise the capital for onboarding talent over the next 12 months, apart from growing corporate associations, upgrading its technology platform and adding new product offerings for online, offline and hybrid events space.

Founded in 2015 by Varun Agrawal, StarClinch provides an open platform for discovery, booking, consumption and payment for access to entertainers across categories such as music, comedy, dance, anchors and others. The platform also offers an escrow account for settlement of services with the performers. Its clients include the likes of Cadbury, Goldman Sachs, IBM, Nykaa, Unilever, and others.

Paisagrowth raises seed capital

Assisted fintech platform Paisagrowth has raised $250,000 in seed capital from startup accelerator GSF and other investors including Dinesh Agarwal, CEO of IndiaMart, Dinesh Gulati, COO of IndiaMart, Rajesh Sawhney, Founder and CEO of GSF and Pras Hanuma, CEO of Infoquest.

The company will utilise the funds to strengthen its product and scale up operations, it said in a statement.

Founded in 2020 by Anurag Tiwari, Aabhas Tripathi, and Abhishek Sharma, Paisagrowth provides local financial advisors with loan origination, screening, and decision automation software.

Currently, the platform has 14 lending partners offering personal and SME loans. The platform helps advisors look for suitable lenders for a borrower using its recommendation engine. For the lending partners, Paisagrowth offers filtering and matchmaking processes using data points of borrowers, easing the operational burden of lenders.

Jupitice raises pre-Series A round from Almas Global Opportunity Fund

Chandigarh-based Jupitice, which offers an end-to-end digital platform for private courts, has raised $4 million in a pre-Series A round of funding from the fund management company, Almas Global Opportunity Fund.

Founded in 2018 by Raman Aggarwal, Jupitice will use the capital for product development and global marketing, said the company in a statement.

Jupitice offers its technology platform to private courts for services such as mediation, assisted negotiation, arbitration and conciliation. 

The platform connects disputing parties and ADR (Alternative Dispute Resolution) Practitioners for out-of-court settlements for civil cases. It uses blockchain technology to store confidential documents and an AI tool to analyse the dispute and the required mechanism.

Skincare company CosIQ raises funds from Shark Tank India

Skincare brand CosIQ has raised $66,514.4 from Shark Tank India in a seed round. Investors in the brand include Vineeta Singh, CEO of SUGAR Cosmetics and Anupam Mittal, Founder and CEO of Shaadi.com who made the investment against 25% equity in the company.

The company founded in 2021 by Kanika Talwar, Angad Talwar, and Vidhu Jain focuses on clean ingredients and minimalist formulations. 

The company will utilise the capital to drive innovation and bring cutting edge ingredients with safe formulations in the Indian Markets, said Angad Talwar, Co-founder of CosIQ in a statement. 

Verandah raises seed round

Mumbai-headquartered conscious luxury resortwear and swimwear brand Verandah has raised $1.1 million in a seed round from Mike Novogratz, CEO of Galaxy Investment Partners, Neeraj Arora, former CBO of WhatsAppWhatsApp, Lydia Jett, partner at SoftBank Vision Fund, PDS Venture and other investors.

The brand will utilise the capital to grow its presence in US and international markets, apart from scaling and adding product extensions. 

Founded in 2012 by Anjali Patel Mehta, Verandah uses artisanal fabrics and hand embroidery from India for its luxury resort label. It has recently launched its global e-commerce site.

Edited by Affirunisa Kankudti

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