[Funding roundup] Assetplus, Humpy Farms, and HOP Electric Mobility raise early-stage capital

YourStory presents daily funding roundups from the Indian startup ecosystem and beyond. Here's the roundup for Wednesday, May 11, 2022.

Fintech startup Assetplus raises $3.6M led by InCred and Rainmatter

Fintech platform AssetPlus raised $3.6 million led by Bhupinder Singh of InCred and Nithin Kamath of Rainmatter. Angel investors, including Venture Catalysts, Swaroop “Kittu” Kolluri, Amit Nanavati, Kedar Kulkarni, and others, also participated in the round.

The Chennai-headquartered fintech startup will use the funds to expand its business and include more financial products on the platform.

Founded in 2018 by IIT-Madras graduates — Awanish Raj and Vishranth Suresh — AssetPlus focuses on offering digital-first solutions to financial advisors and mutual fund distributors.

The company aims to streamline the processes of investing in mutual funds by offering a platform with a plethora of features, including multi-portfolio support, unbiased research, digital marketing functionalities, and more. From reinventing the traditional approach to handling multiple clients, the platform offers a cost-free lifetime registration to all registered ARN-holders to expand their services to geographies with a single dashboard.

Organic farming startup Humpy Farms secures Rs 5 Cr in angel round

Pune-based direct-to-consumer (D2C) organic farming startup Humpy Farms raised Rs 5 crore in an angel round, which also includes funds secured from Shark Tank India.

The round also saw marquee investors, including Shailesh Ligade of DBS Bank, Abhay Amrute of IIFL, Prattyush Shahane of Bain & Company, Yogesh Lahoti and Anushka Iyer of Wiggles.in, participating in it.

Founded in 2017 by Malvika Gaekwad and Jaywant Patil, Humpy Farms practises end-to-end climate-smart regenerative digital organic farming, cutting down on carbon footprint, to become a one-stop-shop for daily food needs.

Recently, the company made an appearance on Shark Tank India and secured funds from Lenskart’s Piyush Bansal and MamaEarth’s Ghazal Alagh.

The startup has allocated a major part of the funds to invest in technology and enhance its D2C strategy. It will use a part of the fund to accelerate customer acquisition and identify and onboard new talent. Keeping in line with its expansion plans, Humpy Farms is also exploring new potential markets to launch its perishable range of products, including its signature Humpy A2 Milk.

HOP Electric Mobility raises $2.6M in a strategic round of its ongoing $10M pre-Series funding round

EV startup HOP Electric Mobility has closed a strategic round of $2.6 million as part of its ongoing $10 million pre-Series funding round. The startup has achieved the milestone of reaching 105 retail touchpoints with over 6,200 on-road scooters in 2021. With these funds, HOP Electric Mobility is targeting 10X growth this year.


Ketan Mehta, Founder and CEO, HOP Electric Mobility, said, “Our strategic investor, a public-listed company, reaffirmed their commitment and synergies in pursuing sustainable business opportunities. The same investor has previously supported HOP Electric Mobility in becoming a successful mandate holder of the Government of India's ambitious Rs 26,058 crore Production Linked Incentive (PLI) scheme for Auto under the New Non-Automotive Investor (OEM) category. Under this mandate, we will be investing more than Rs 2,000 crore in India in the next five years. The goal is to bolster India's manufacturing capacities and boost HOP Electric's chances of becoming a global energy mobility pioneer.” 


At present, HOP Electric Mobility is growing at a monthly rate of 50 percent. The startup is also hiring across all verticals, including the design, engineering, battery, cell, and R&D verticals.

Further, the EV startup has embarked on its multi-battery modular platform's design and engineering journey. The company is developing Gen 2 Smart Batteries and swapping stations. It will roll out two new products on the new platform supported by Gen 2 batteries and a swapping station in FY23.

Edited by Suman Singh


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