[Funding roundup] SaveIN, Tirex Transmission, Pescafresh, WorkIndia, Good Flippin’ Burgers, OneImpact Technologies, and Wholsum Foods raise capital

Here are the companies that announced early-stage rounds during the day.
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SaveIN raises $4M seed funding

Buy now Pay Later (BNPL) platform for healthcare, SaveIN, has raised $4 million in seed funding from leading investors based in Silicon Valley and Europe.

The round also saw participation from Oliver Jung, counted among Europe’s top angel investors, Grant Park Ventures, Leblon Capital, Almagro GmbH, MyAsiaVC, Kube VC, Spenmo Founder Mohandass Kalaichelvan and serial healthcare entrepreneur Vimal Kavuru among others.

Part of Y-Combinator’s Winter 22 batch, the Gurgaon based startup is creating a network of healthcare providers with an aim to offer embedded finance and pay later options at clinics across the country. Within three months of its flagship product Care Now, Pay Later, the startup has boarded over 500 healthcare and wellness clinics across five cities of India.

Jitin Bhasin, Founder & CEO, SaveIN said, “We are humbled by the overwhelming response and support of world class investors, who are backing our vision to revolutionise private healthcare in India.”

The funds will be utilised for accelerating product development, strengthening in-house teams in engineering, product, data sciences, and sales while growing our network of healthcare practices across the country.

Tirex Transmission raises $2M

Tirex Transmission, an EV charger manufacturing company, said it has raised $2 million from an ultra HNI investor.

This $2 million funding will fuel Tirex Transmisson's growth and R&D efforts for international markets, where USA is the first country of focus, said the company in the press release. 

Founded in 2017 by Sanskar Patel, Tirex Transmission is a supplier of choice for DC chargers for government, private & MNC companies. It offers EV Chargers (AC and DC chargers) and EV charging management solutions to meet India's focus on controlling carbon emissions and air pollutants. 

Sanskar Patel, Founder and MD, Tirex Transmission said, "..We approached GetFive to help us raise funds. Working with them has been a joyride. Not only could we secure the funds within the stipulated timelines, but working as an extended team, they also guided us on various financial aspects of our business."

Pescafresh raises $2M in pre-Series A1 round 

D2C seafood and meat brand Pescafresh has raised $2 million in pre-Series A1 round by UK-based Elara India Opportunities Fund. The funding is the first tranche of an anticipated round for the company.

The company will use the fresh capital to invest in geographical expansions and technological intervention that will improve the overall customer experience. Part of the funds will also be deployed for strategic partnerships and expansion of the brand's reach.

Founded in 2004 by Sangram Sawant, Pescafresh functions on the farm-to-fork business model. The brand owns the entire back-end supply chain, including stringent cold chain control, procurement, processing and storage. Pescafresh, which is currently present in Mumbai, will enter the Pune market in May, and will also soon kick start its operations in Delhi NCR and Bengaluru.

“Elara India Opportunities Fund believes that Pescafresh has an edge and is uniquely positioned with extensive knowledge of supply chain, technical expertise, a strong team, deep insights, a laser focus on technology and its ability to churn differentiated products.’’ said Spokesperson, Elara India Opportunities Fund.

WorkIndia raises $1.5M from venture debt player BlackSoil

Bangalore-based Eloquent Info Solutions, operating via their brand name, WorkIndia, a blue-collar recruitment startup received $1.5 million in venture debt funding from BlackSoil. 

The startup plans to direct the funds towards extending its product to multiple geographies across India and strengthen its fraud detection technology.

Founded in 2015 by Moiz Arsiwala, Kunal Patil and Nilesh Dungarwal, the startup focuses on solving structural challenges faced by blue or grey collar employees or candidates by providing a one-stop platform for accessing jobs across the nation, precisely matched to their skills. 

WorkIndia has a presence across more than 600 cities, catering to over 1.5 million SMBs and over 25 million candidates. 

Nilesh Dungarwal, WorkIndia Co-Founder said, “We are delighted to partner with BlackSoil to expand our presence and provide newfound opportunities to India’s blue and grey collar workforce and look forward to strengthening our relationship further with the years to come.”

Good Flippin’ Burgers raises $1M

Good Flippin’ Burgers has said it has raised $1 million in seed funding led by Nikhil Bharadwaj, Director, Kerala Blasters Football Club; Karan Bhagat Founder, MD & CEO IIFL Wealth & Asset Management; and Yatin Shah, Co-Founder and Joint CEO, Wealth Management business at IIFL Wealth & Asset Management. 

Manish Hathiramani of Deen Dayal Investments along with Kiran Desai (General Council, Netflix India) Vikram Malhotra, Mamta Anand and Vedant Bali participated in the round. 

Founded in 2019 by Viren DSilva, Sijo Mathew and Sid Marchant, Good Flippin’ Burgers has seven outlets in Mumbai and a Central Kitchen with a head count of 100 and growing. Starting with Mumbai, they intend to establish footprints across Delhi (NCR), Pune & Bengaluru in 2022.

Sid Marchant, Co-Founder, Flippin’ Burgers said,

“We are grateful for the trust our existing and new investors have shown in us and we intend to keep earning it every day by replicating the fantastic product & experience we are all proud of.”

With the additional funds, the company looks to expand in multiple formats – cloud, hybrid, dine in, malls and airports across multiple cities along with strengthening the supply chain. 

Jidoka raises Rs. 6 Crore from The Chennai Angels

Jidoka Technologies, a company involved in automation of visual defects and audio testing, has received $392,224 (Rs 3 crore) from The Chennai Angels (TCA). A follow-on investment of $392,224 (Rs 3 crore) has also been committed for a second tranche later this year 

Founded in 2018 by Sekar Udayamurthy, Krishna lyengar and Vinodh Venkatesan, Jidoka specialises in automating the detection of visual defects and audio testing – processes that are highly subjective by nature across industries such as automotive, packaging, pharmaceuticals, electronics, FMCG and general manufacturing. 

After establishing a product-market fit in India across industries, Jidoka will invest funds to enhance their product for international markets and grow to North America and subsequently to Europe.

Sekar Udayamurthy, Co-Founder & CEO, Jidoka Technologies said, “Our sincere thanks to TCA and its experienced leadership for their mentorship and commitment and we are excited and looking forward to the continued journey with them. We also would like to thank Sathish, Kabita, Sunitha for their thoughtful guidance during the funding process.”

OneImpact Technologies receives investment from IIMA’s CIIE.CO 

OneImpact Technologies, an agri-fintech startup that helps dairy farmers with credit accessibility, has announced that it has raised an undisclosed amount of funding in a seed round from CIIE.CO. 

The company aims to use the fresh funds to scale up loan disbursements to dairy farmers and validate proof of concept. 

Founded by Maharshi Thaker, a second-year student at IIM A, OneImpact aims to help farmers with improved mechanisms for lending using digital technology, AI & ML capabilities for identification, risk profiling and diversification for credit portfolio. The company is creating value through improved mechanisms for lending and easing hustle for farmers to avail formal lending. 

Maharshi Thaker, Founder and CEO, OneImpact Technologies said “I received tremendous support from IIMavericks program, and today we, at OneImpact, are on the path to revolutionise Agri-lending in India via digital technologies.”

Wholsum Foods ropes in Anushka Sharma as investor and brand ambassador

Wholsum Foods, a millet-based startup, has received an undisclosed investment from Anushka Sharma as she joins the board as a strategic partner.

As part of this strategic partnership, Anushka Sharma joins Wholsum Food as an investor, brand ambassador and advocate for the startup's flagship brand Slurrp Farm, and all future brands Wholsum Foods will launch.

Founded in 2016 by Meghana Narayan and Shauravi Malik, Wholsum Foods owns the brand Slurrp Farm, a brand that offers millet-based snack and mealtime options for young children and their parents.

Speaking about the partnership, Anushka Sharma said,

“Through the partnership, I hope to help nurture India’s rich heritage of millets, and enable today’s generation to leave behind a healthier lifestyle and planet for those to come.”

Meghana Narayan and Shauravi Malik, co-founders and co-CEOs of Wholsum Foods said, “Ahead of the International Year of Millets in 2023, we couldn’t have asked for anyone better than Anushka Sharma on board with us as we take millets to the world. The partnership is an important milestone as we build Wholsum Foods into a house of brands that makes food better for us and for the planet.”

Edited by Anju Narayanan

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