[Funding roundup] Threedots, MatchLog, NowPurchase raise early-stage deals
YourStory presents daily funding roundups from the Indian startup ecosystem and beyond. Here's the roundup for Wednesday, January 19, 2022.
Threedots raises $4M in seed round led by Kalaari Capital
Threedots, a community investing platform, has raised $4 million in seed round of funding led by Kalaari Capital as it looks to guide the new breed of young investors into capital markets.
The others who participated in this seed round of funding include Better Capital, iSeed, Cloud capital, Kunal Shah (Cred), Lalit Keshre (Groww), Jitendra Gupta (Jupiter), Amrish and Sweta Rau (Pine labs), Ramakant Sharma (Livspace), Rohit MA (cloud9), Giri Malpani (Malpani Family), Mohit Daga, and others. This startup will use this capital for product development and hiring.
Founded in March 2021 by BITS Pilani alumni - Rishu Garg, Prakhar Bhardwaj and Akul Agarwal and former employees at Groww, Threedots app offers users a daily dose of financial news and a finance centric community apart from stock investing. It aims to bridge the gap between market experts and users.
Rishu Garg, Co-founder, Threedots, said, “Our vision is to make Threedots the next-gen community investment platform where people can learn, discuss and invest all at one place. Our goal is to shape and empower the investment ecosystem in India.”
MatchLog raises $3M in Pre-Series A round
MatchLog, a tech startup focused on the logistics sector, has raised $3 million in its Pre-Series A round through Blue Ashva Capital, Rainmatter Climate, and Capital-A.
The capital raised will be deployed to further develop the tech platform for AI and machine learning based pairing of cargo across India, grow the multi-modal share in addition to road transport, and expand its footprint to more ports in India and around the world.
Commenting on the fundraise, Dhruv Taneja, Founder, MatchLog, said, “We will start with India and then expand to the Middle East, Africa and South East Asian markets in the next 12-18 months. At MatchLog, our mission is to reduce at least 100 million tonnes of carbon through our platform in the coming five years."
According to MatchLog, its technology platform reduces the turnaround time in the shifting of containers at the ports thereby bringing down the amount of fuel consumed. It claimed that in 2021 alone, saved more than one million kgs of carbon emission through its efforts.
NowPurchase raises $2.4M in seed round
, a Kolkata based B2B marketplace for the metal manufacturing industry, has raised $2.4 million in a seed funding round led by Orios and InfoEdge Ventures. Angel investor Neeraj Arora also participated in the round.
This startup plans to use the new funds towards expanding its procurement business by establishing a global supplier base and expanding into other parts of India. Besides, the capital will be used for hiring and product development.
NowPurchase was founded in 2017 by Naman Shah and Aakash Shah, with an initial investment of $300,000 from Nipha Group. This startup provides its users with a WhatsApp bot to discover prices and stock in real-time, a technically trained team to provide on-ground service and quality assurance. Besides, its proprietary software to optimize the manufacturing process.
Sahicoin raises $1.75 million in seed round of funding
, a social platform for crypto users, has raised $1.75 million in a seed round of funding led by Alameda Ventures (FTX), Better Capital Ventures, and other institutional investors.
Sahicoin will this fresh round of funding to scale the team across engineering and product, and grow the platform.
Founded in August 2021 by IIT Kanpur alumni Amit Nayak, Ankush Rajput, and Melbin Thomas, the platform aims to enable crypto enthusiasts to make faster and better investing decisions by bringing together industry experts as well as new investors to share crypto updates, trends, knowledge, and intelligent signals.
Amit Nayak, Co-founder and CEO of Sahicoin, said, “Since crypto is global by nature, our growth too, is not just limited to India. We plan to partner with key exchanges, DeFi, and NFT players, which will expedite the onboarding of the next billion users onto the crypto ecosystem.”
Diginoor raises $1M in seed round
Diginoor.io, a NFT marketplace based in Chennai, has raised $1 million in seed round of funding from Contrary Capital, Polygon Fund and angel investors such as Sandeep Nailwal, Kunal Shah, and Abdul Wahab Al-Halabi.
Founded in 2021 by Shaamil Karim and Yash Rathod,aims to make NFT adoption mainstream in India with curated Indian entertainment content adapted for the Web 3.0 space.
Diginoor is focused on Indian cinema to bring them on the blockchain platform. It has partnerships with film production houses like AVM, Reliance Entertainment
Diginoor co-founder Shaamil Karim said, “We started Diginoor to sell NFTs of iconic Indian cinema content, right from Rajinikanth dialogues to metaverse Kabali suits. We plan on using these funds to hire a talented team across functions and tap into the plethora of content in the Indian media industry.”
SaaS startup Trainn raises $700,000 in seed round
, a Chennai based SaaS startup focused on video technology, has raised $700,000 in a seed round of funding led by Speciale Invest.
The others who participated in this round include Arka Venture Labs, founders of Chargebee, Shan Krishnasamy - CTO of Freshworks, and Abhishek Goyal - Co-founder of Tracxn.
Trainn aims to use this capital to expand its team, go to market plans and product development. The startup aims to help SaaS businesses drive meaningful ROI, increase adoption and customer retention through customer education, while also reducing support costs and expensive in-person training.
GameEon Studio raises $200,000
GameEon Studios, a Mumbai-based game development company, has raised a $200,000 round led by Indian Angel Network (IAN). The round was led by IAN’s Angel investors Mrunal Jhaveri and Ajay Upadhyaya.
GameEon Studios aims to utilise these funds to develop in-house games and strengthen the distribution pipeline with the content built.
Founded by Nikhil Malankar in 2013, GameEon Studios has developed over 150 games distributed worldwide via multiple distribution channels. The startup is currently developing an open-world game based in Mumbai city.
The startup’s primary target audience is gamers in the age group between 18 and 24.
Nikhil said, “Gaming is now a part of everyday life for a lot of people. We at GameEon Studios want to bring an immersive experience to all our gamers. It can simulate many real-life situations in a virtual environment.”
Insurtech startup Finsall raises Rs 12 Cr
Insuretech startuphas raised Rs 12 crore in a pre-Series A round of funding from its existing investors – Unicorn India Ventures and SEA Fund along with a clutch of other investors.
Finsall plans to use the fresh funds for scaling its technology platform, signing new insurance partners with an aim to increase its market share in the Indian insurance premium financing market. It is also looking to enter into lending partnerships with banks and NBFCs.
Finsall is an end-to-end technology process for insurance premium financing and has built a multi-lender platform for banks and NBFCs.
Tim Mathews, Co-founder & CEO, Finsall, said, “We currently have customers in more than 500 cities pan India with a special focus on under banked and underserved rural pockets. We have also opened financing for multiple products within the insurance industry to continue our scale up and build a strong business model.”
Reloy raises Rs 5 Cr led by Inflection Point Ventures
Reloy, the real estate industry focused digital platform startup, raised Rs 5 crore in a Pre-Series A round of funding led by Inflection Point Ventures, Fawkes Fund, the family office of Greenpanel and Greenlam, and angel investors.
Reloy will use this funding round for expanding operations and product development for a commercial launch.
Started in 2018, Reloy is engaged with leading real estate developers to smoothen the entire process of property sale with various digital tools through their customer loyalty programmes.
Akhil Saraf, Founder and CEO, Reloy said, “Consumer expectations have grown dramatically, while housing as a product hasn’t grown beyond the four walls. The next type of housing is going to leverage digital amenities to solve unique homeowner problems and create conveniences around this asset ownership.”
Edited by Kanishk Singh