[Funding Roundup] Nat Habit, Speed Finance, GreenSat raise capital

Here are the companies that announced early-stage rounds during the day.

Personal care D2C brand Nat Habit raises $4M in Series A round

Nat Habit, a personal care brand which makes natural, preservative and chemical free products, has raised $4 Million in its series A round led by Fireside Ventures, along with participation from existing investors.

The new round will be used to accelerate growth, increase channel presence, expand categories, and invest in marketing, technology and scouting for fresh talent.

Dipanjan Basu, Partner, Fireside Ventures, will be joining the Nat Habit board.

Founded in 2019, Nat Habit has previously raised funding from Surge (Sequoia), Whiteboard Capital, and FMCG angel investors including CEO of Spencer's, Snapdeal, Paperboat, Epigamia, and Yogabar. The startup claims to have witnessed over 30x growth in the last one year.

“There are some areas that standout for us: First, we have been able to build the brand primarily using our website, with just 10 percent of the revenue coming from the marketplaces unlike most other brands that thrive only on marketplaces. We now plan to leverage the marketplaces to drive the next wave of our growth,” said Gaurav Agarwal, Co-founder, Nat Habit.

“We will continue to launch cutting edge products to accelerate the growth. Having our own manufacturing gives us an edge.”

Fintech startup Speed Finance raises Rs 2.5 Cr in pre-Series A

Pune-headquartered Speed Finance has raised Rs 2.5 crore in a pre-Series A round led by a few Angel Investors from Pune.

Founded by Rajesh P Nair, Speed Finance is a digital lending platform especially for the bottom of the pyramid consumer base struggling for financial requirements. Currently, the startup has a customer base of 1.5 million users.

“We will use these funds for improvising the product suite and reaching the needy customers. With an objective to provide personalised on-ground service we will utilise our Mahalakshmi micro-entrepreneurs’ network,” said Rajesh P Nair, Founder and CEO, Speed Finance.

“Eventually we want to transform this platform into an e-commerce universe by encashing consumer loyalty as we are lending to them when everyone else is saying no to them. This will be done through exclusive and curated offers on Speed Finance App,” he added.

Speed Finance is planning to grow its customer base by 650 percent to 10 million users in the next three years. Speed Finance is witnessing 35 percent repeat customers while 80 percent customers are millennials, and 66 percent customers are from tier 3 and 4 cities with 70 percent falling in the age group of 23 years to 30 years, the company said.

GreenSat raises undisclosed amount from Mumbai Angels

Greensat Innovation labs, a satellite imagery data analytics company enabling precision farming and risk mitigation, has raised an undisclosed amount of funding from Mumbai Angels.

The round also saw participation from US-based VCs. GreenSat will leverage the fresh capital to scale operations in new geographies, enhance its tech infrastructure, build high-performance teams across functions, and focus on other business development activities.

“GreenSat was founded with the mission of transforming the farming industry. It wasn’t just about a single solution but providing end-to-end services and taking the farmers on a journey from poverty to prosperity by giving them access to data on an easy-to-use, completely integrated platform. We stand by our 15,000 happy farmer families who have experienced higher yields and higher profitability, along with better and low-cost funding through GreenSat,” said Deepak Yadav and Krishna Ghosh, Co-founders, GreenSat Innovation Labs.

The GreenSat app provides real-time information to the farmer on weather, soil, moisture, pest and crop diseases, and solutions.

With the introduction of multiple new features, GreenSat will be India’s first Faceless Crop Loan app. The platform will focus on bridging the gaps in the sector by bringing banks, insurance companies, buying entities, and most importantly, the farmers on a single platform.

Edited by Anju Narayanan