[Funding roundup] Qarmatek, Un1Feed, AppX, MyCaptain, EduFund, others raise early-stage rounds

YourStory presents daily funding roundups from the Indian startup ecosystem and beyond. Here's the roundup for Tuesday, January 18, 2022.
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Refurbished electronics startup Qarmatek raises $3M led by GVFL, Caspian Debt

Qarmatek, a refurbished and renewed electronics category, announced that it has raised $3 million in a funding round led by GVFL (Gujarat Venture Finance Limited) and Caspian Debt. 

In the preliminary stage, the funds will be utilised towards expanding and digitising operational capabilities, scale across key domestic markets, and foray into B2C operations with MOBEX, a brand by Qarmatek that is emphatically customer centric. 

Qarmatek Co-founders

The investment will also enable Qarmatek to align with its grander vision of creating a tech-enabled circular economy for e-waste in India while also enhancing the customer experience from sales to purchase touchpoints. Qarmatek intends to use a portion of the funds towards creating an all-purpose technologically forward infrastructure that will ensure a seamless experience of an embellished B2C journey for the end-user, while offering the best prices and exceptionally high-quality products.

Tech startup Un1Feed raises $1M in pre-seed round

Un1Feed, the tech startup founded by Hardik Patil and Ansh Nanda that allows users to override and edit their social feed algorithm, has raised over $1 million in a pre-seed round led by Neo, a Silicon Valley based community focused venture capital fund.

The others investors in this round include Tribe Capital, Great Oaks, Global Asset Capital, and angel investors. Un1Feed plans to use this funding for product development and hiring.

AppX raises $1.3M in its funding round led by Y Combinator

Delhi-based startup AppX, which enables creators to run their online businesses from their own storefront, has raised $1.3 million in a recent funding round led by Y Combinator, Global Founders Capital, Rocket Internet, Soma Capital, Shrug VC, Lenny Rachitsky, James Beshara, and TDV Partners. 

The company plans to utilise the fresh funds to increase its product offerings to help more creators monetise, roll out their token, as well as expand internationally. 

AppX Co-founders

Founded in January 2020 by Sameer Sadana and Anuj Gupta, AppX helps its creators monetise via their own personal mobile applications and websites, wherein creators can run their own online businesses such as ebooks, courses, NFTs and ecommerce businesses. The company is currently targeting creators with over 10,000 followers on platforms like Instagram, Tiktok, Youtube, and more such social media outlets.

Edtech platform MyCaptain raises $3M in Pre-Series A round

MyCaptain, a Bengaluru-based startup focused on reimagining the future of work, has raised $3 million in Pre-Series A round led by Ankur Capital. The round also saw participation from IPV (Inflection Point Ventures), Firstport ventures, IIM Calcutta Angels Network, Singapore Angel Investors, and other Super Angels. 

Co-founded by Mohammed Zeeshan, Sameer Ramesh, and Ruhan Naqash, MyCaptain, an online mentoring platform has become a platform where students can learn directly from young professionals, discover new career options and build practical skills through over 30+ beginner to advanced live cohort based courses. 

These courses range from content writing, social media management, fashion design to entrepreneurship and even advertising. As market leaders in the segment, MyCaptain has been able to train, mentor and facilitate monetizable outcomes for more than 150,000+ paid learners so far, coming right from metro cities like Bangalore to small towns like Guntur in Andhra Pradesh.

Homegrown consumer electronic startup Mivi raises funding from N+1 Capital Inbox

Mivi has raised an undisclosed amount from N+1 Capital in the debt funding round. The fresh capital will further bolster the company's in-house capabilities, helping it expand its presence across new verticals.

Headquartered in Hyderabad, Mivi is a one-of-a-kind company specialising in the audio gadgets category, with its products ranging from TWS (True Wireless Earphones) to speakers to address the audio needs of today’s tech-savvy, music-loving Indian population. Realising the lack of homegrown high-quality audio gadgets in the Indian market, the brand strives to elevate its consumer electronics industry to the next level through its high-quality "Made in India" gadgets at affordable prices.

EduFund raises a $1M in seed round led by Anchorage Capital Partners

EduFund, India's first company that covers a child’s higher education journey from savings (rupee and dollar) to immigration, has raised $1 million in its seed round led by Anchorage Capital Partners, along with additional investments from ViewTrade Holding – Corp and other angel investors. The funds will be used to augment the product offerings and expand the market presence.

Founded in June 2020, EduFund provides a holistic planning tool to help every parent plan for their child's higher education journey and reduce the financial burden associated with quality higher education.

EduFund Co-founders

The company has entered into multiple counsellor partnerships, including – OnCourse Global, Zsoldos Coaching, Reva Education Consultant, and Overseas Education Consultancy. EduFund is also a Registered Investment Advisor regulated by SEBI. Furthermore, it ensures 100 percent privacy and confidentiality to keep users' personal information safe. The company has also partnered with a prominent US broker-dealer to offer investments in US dollar-related products.

T-Hub bags Rs 5 Cr from Startup India Seed Fund

T-Hub which leads India’s pioneering innovation ecosystem, on Tuesday announced that it got selected under the Startup India Seed Fund Scheme by DPIIT, GOI to disburse Rs 5 crore among eligible startups with an objective to support and fuel early-stage funding in startups.

With an aim to provide value-driven and effective growth for the startups, T-Hub this year announced its focus on providing funding avenues for its startups and receiving the Startup India Seed Fund is one of the steps towards this focus. The fund will be disbursed to the eligible startups through debt or convertible debentures instruments. The fund will be utilised to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialisation.

T-Hub will be disbursing this fund to 15 startups in the span of three years.

The seed fund allocated to T-Hub is sector agnostic and will focus on supporting technology startups and innovations which are Minimum Viable Product (MVP) ready and need funds for their early growth.

HUVIAiR raises $3.2M in Series A round led by Chiratae Ventures

HUVIAiR Technologies raises $3.2 million in its Series A round of funding, led by Chiratae Ventures. Other investors taking part in this round include SOSV, RMZ Management LLP, and Artesian Venture Partners. 

 

Huviair is a pioneer of remote monitoring and management software for construction projects. Their flagship SaaS platform CONSTRA, derives insights from images and videos (of building exterior and interior) to help immensely through the planning, building and inspection stages of construction projects.

With this new round of funding, HUVIAiR expects to hire key people, build newer product features, scale customer acquisition in India and a few strategic markets overseas, including the USA.

Ice cream brand Get-A-Whey bags an investment of Rs 1 Cr on Shark Tank India

Get-A-Whey, a healthy ice cream brand founded by two siblings, Jash Shah and Pashmi Shah Agarwal, along with their mother Jimmy Shah, has bagged an investment of Rs 1 crore for 15 percent equity in the first edition of Shark Tank India.

 

The investors included Ashneer Grover, MD and Co-founder, BharatPe; Aman Gupta, CMO and Co-founder, boAt; and Vineeta Singh, CEO and Co-founder, SUGAR Cosmetics.

Available in Mumbai, Pune, Delhi-NCR, Bengaluru, Surat, Hyderabad, and Chennai across supermarkets, their website and online platforms, the brand is available in 12 international flavours and also sells four keto-friendly flavours. 

Aerostrovilos Energy secures Rs 3.5 crore as part of its seed round

Aerostrovilos Energy, an IIT Madras-incubated organisation and Mumbai Angels’ portfolio company, on Tuesday secured its seed round of funding of Rs 3.5 crore from Tube Investment of India, a Murugappa Group Company. 

Working on developing Micro Gas Turbines (MGT) with the National Centre for Combustion Research (NCCR) at IIT Madras, Aerostrovilos Energy is building an MGT-based powertrain solution for heavy-duty trucks and power generation at reduced costs. 

The company will be utilising the funds for the completion of its solution, prototype manufacturing, and a trial run of MGT-based heavy vehicles.

Edited by Kanishk Singh

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