Startup news and updates: daily roundup (May 16, 2022)

YourStory presents daily news roundups from the Indian startup ecosystem and beyond. Here's the roundup for Monday, May 16, 2022.
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Hocomoco raises $1 million in Pre-Series A Round

Hocomoco, a Hyderabad-based tech-powered construction aggregator, rebranded itself to Wehouse and raised $1 million from Anthill Ventures and a group of angel investors in its first funding round. 

The funding will be utilised to upgrade the technology platform and hire for key roles in its expansion to cities pan-India.

Founded in 2017 by Sripad Nandiraj, Wehouse is a tech aggregator platform that facilitates end-to-end construction services, helping customers build their dream homes. It provides end-to-end services from legal permissions, architectural structural design, and construction execution to interiors and monitoring services. It also offers e-monitoring, which enables customers to check the progress of the work and material consumption on-site through photos and videos of work, and notifications. 

Sripad Nandiraj, Co-founder and CEO, Wehouse said, “Our recent funding is an indication that we are moving in the right direction, and it gives us immense pleasure that investors are showing faith in our brand and traction thus far. The funding will be used to bolster our tech and prime us for scalability.”

The new funding comes on the heels of a major commercial milestone of Wehouse completing one million square feet of built-up area. They are slated to touch Rs 100 crore of booked revenue in the next few months.

Rgyan raises $200,000 in seed funding

Rgyan, an online spiritual community platform, raised $200,000 in seed funding from angel investors. 

The funds will be primarily used for product development and team expansion (engineering, product, content and media). The company plans to build a range of products with advanced features to provide a better online experience to the digital spiritual community. 

Founded in 2021 by Umesh Khatri and Devendar Agarwal, SoulGuide (SoulGuide Digital Pvt Ltd) is tech company focused on building products related to spiritual, devotional and wellbeing needs of users in India and worldwide.

Rgyan, a product of SoulGuide (SoulGuide Digital Pvt Ltd), is an online spiritual social community platform which lets users explore and share assimilated curated content in various spiritual categories like devotion, holy places, wellbeing, art/society, mythologies, and others.

With its current fundraise, the startup looks forward to building a digital community of spiritual inclined individuals helping them with their different needs and taking their spiritual journey online.

 “We are contributing our efforts to digitise the offline spiritual space which is ancient old, remains unorganised, scattered, and unserved. By building tech enabled products that will allow users to explore, connect, share and promote spiritual knowledge, we look forward to building a complete digital ecosystem to assist billions of users fulfil their different spiritual, devotional and wellbeing needs,” said Umesh Khatri, Co-founder and CEO, Rgyan.

Banking platform Tide partners with Plumm to roll out global workplace mental well-being platform

UK's leading business banking platform Tide plans to launch a global mental well-being platform for its employees and their family members in partnership with mental health services provider Plumm, the company announced on Monday. It assured all conversations remain confidential and remain encrypted on Plumm.

Tide said the on-demand support helps combat burnout, boost team morale, and focuses on the overall growth and well-being of employees and their families. Benefits also extend to preventive and personal growth care, including one-on-one video and chat therapy with accredited therapists and live monthly workshops. 

The platform also ensures unlimited access for employees and their families to a growing library of therapist-led psycho-educative digital courses and guided meditations.

Liza Haskell, Chief Administrative Officer at Tide, said, "Employee feedback has been essential in launching our new suite of well-being benefits that focus on the diverse needs of our global workforce, including mental well-being, financial security, and interpersonal relationships."  

CredAble Executive Vice President and General Counsel to boost financial inclusion

Gaurav Dugar has earlier worked at law firms such as Shardul Amarchand Mangaldas and Trilegal. 

Fintech firm CredAble on Wednesday announced the appointment of Gaurav Dugar as its Executive Vice President and General Counsel to further build, develop, and lead the legal functions to enhance financial inclusion for India. 

A legal expert with over a decade’s experience, especially in commercial transactions and general corporate advisory services, Gaurav has earlier worked at law firms such as Shardul Amarchand Mangaldas and Trilegal. 

Gaurav said, “CredAble has created stakeholder partnerships that provide financing opportunities to entities who previously did not have access to any formal working capital solutions. Our goal together continues to be to enhance financial inclusion, in line with the RBI’s objectives and policy framework.”

Founded by Nirav Choksi and Ram Kewalramani in 2017, the Series B funded startup provides liquidity to enterprises by using its SaaS interface, eKYC, digital documentation, and transaction management.

Edited by Megha Reddy

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