[Funding Roundup] Liminal, Deciml, Homi Lab, and others raise early-stage capital

Here are the startups that announced early-stage rounds of funding on June 1, 2022.
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Liminal raises $4.7M in seed round led by Elevation Capital 

Liminal, a wallet operations infrastructure, raised $4.7 million in a seed round led by Elevation Capital. The round also saw participation from investors like LD Capital, Woodstock, Nexus Ventures, and crypto ventures like CoinDCX, Hashed, Cadenza Ventures, Vauld, Better Capital, and Sparrow Capital.

Angel investors—Andreas Antonopoulos, Balaji Srinivasan, Sandeep Nailwal, Jayanti Kanani, and Ajeet Khurana, amongst others—also participated.

“We will be using the funds to invest in hiring and product development,” said Founder and CEO Mahin Gupta. 

Founded in 2021 by Mahin Gupta, Co-founder of Zebpay, Liminal’s automated wallet solution makes it easier for crypto-native businesses, SMEs, and Web3 startups to manage their workflows across different blockchain protocols, saving them significant development cost overhead. 

This plug-and-play platform provides unmatched support to exchanges by eliminating manual operations by 90 percent and saving manual refill hours.

 

In one year, Liminal claims to have processed transactions over $2.5 billion, automated transactions worth $400 million and has around $50 million in assets under protection. 

No-code video tech platform Revidd.com raises $1.1M from Inovnis SA and CIIE.CO   

Helping businesses with next-generation solutions launch their streaming platforms, no-code video tech platform Revidd on Wednesday raised $1.1 million in a seed round from Inovnis SA and CIIE.CO.  

 

Through the latest investment, the company intends to expand its offerings to the US and strengthen its presence in the North American market, hire ingenious talent, and build on the product and technology. The company also aims to lower 60 percent of its cost savings with its decentralised storage and streaming network. 

Founded in 2021 by Kiran Pasavedala, Sampath Mallidi, and Naresh Uppada, the startup is a no-code SaaS platform, which enables anyone with video content to launch their own customisable video streaming product or digital TV in less than five minutes.

Micro investment platform Deciml raises $1M in pre-seed round

Pune-based fintech startup Deciml has raised $1 million in a pre-seed round from Unnati Labs, Agility Ventures, and MyAsia VC.

Co-founder and CEO of Unacademy Gaurav Munjal, Founder of Innov8 Dr Ritesh Malik, CTO of DunzoMukund Jha, Co-founder of Bombay Shaving CompanyRaunak Munot, and, startup advisor Abhishek Ponia, and creators like Bhuvan Bam, Ranveer Allahbadia, Raj Shamani, Suhani Shah, Praful Billore, Varun Thakur, Viraj Sheth, and Rohit Raj, also participated in the round. 

The startup will use the capital for customer acquisition, product enhancements, and onboarding talent. 

Founded by Satyajeet Kunjeer, the fintech startup enables users to start their investing journey with as little as Re 1 through mutual funds and fixed return funds. To provide users with more ways to micro-invest regularly and achieve goals consistently, the app offers options to set daily investments and make one-time lump-sum investments. 

Available on Google Play Store, Deciml claims to have witnessed 25,000+ downloads since its inception and over Rs 20 lakh in AUM with partners Motilal Oswal, Yes Bank, and Lendbox.

 

In the next five years, Deciml aims to be a one-stop financial destination for young millennials, offering a wide variety of investment and financial services customised to user needs. 

Co-curricular learning platform Homi Lab raises pre-Series A round led by Inflection Point Ventures

Co-curricular futuristic learning platform Homi Lab raised Rs 5 crore in a pre-Series A round led by Inflection Point Ventures.

The startup will use the funds to develop a cutting-edge technology platform and create high-quality unique content. The company aims to continue ongoing research on futuristic skills, development cycle involving stakeholders, and enabling the backbone to create top-notch content for the young learners.

Founded by Srijan Pal Singh, Homi Lab believes in leveraging technology to democratise knowledge without boundaries of place, time zones, and age. Homi Lab enables young learners to get acquainted with and be trained for the skills that will shape their future using a mix of subject matter experts, professionals, and its well-crafted virtual laboratories. 

 

Homi Lab had raised its seed round from Ashwath Ram in January 2022.

Zorp raises $600,000 in pre-seed round 

Zorp, a technology platform for physical work, has raised a pre-seed round of $600,000 from Good Capital, Better Capital, and Bharat Founders Fund, with participation from Ashish Goel of UrbanLadder, Rahul Chaudhary of Treebo, Kuldeep Dhankar of Fast9, Sayali Karanjkar ex-PaySense, and several other angels.

“We see a clear future where Zorp is part of the technology stack for fast-growing companies that will increase their speed of execution in the order of 100x. Great companies move really fast, and we want to be the engine that helps them run as fast as they can,” said Bala Panneerselvam, Co-founder at Zorp.

Companies—small and large—digital-first or not, still run a large part of their physical operations on spreadsheets and chat groups as the actual cost and opportunity cost of building these tools is very high. 

ZORP is addressing this market by providing the product managers and business teams the ability to build full-stack products, including mobile apps, web dashboards, and reporting focused on the mobile workforce in a fraction of the time and cost.

Arjun Malhotra, partner at Good Capital said, 

“Over the past few years, companies like Shopify, Salesforce, etc have set up the rails with which businesses can scale really fast. The next generation of companies will optimise operations as fast as possible. That would require a lean product that is scalable and customisable. I see Zorp as the platform that can help companies scale their operational efficiency without much investment.”

Started by Bala Panneerselvam, Vivek DK, and Subramanya Somayaji, Zorp claims its customers have built apps for over 10 different industries, including field sales, logistics, ecommerce, and warehousing on Zorp already.

GoSats raises $4M to enhance its bitcoin rewards programme

GoSats, a crypto on-ramp platform, on Wednesday said it secured $4 million in pre-Series A round from Y Combinator, Accel, Gossamer Capital, KubeVC, 2am VC, Valhalla Capital, Soma Capital, Trampoline Venture Partners, Dragon Capital, Leonis VC, DG Daiwa Ventures, C2 Ventures, Stonks.com, Draper Dragon, and angel investors, including Sung Ho Choi (Founder of Fubo TV) and Taher Savliwala.

The startup will use the funds to acquire resources to enable GoSats to magnify its exclusive bitcoin rewards programme, build crypto rewards as an API service for brands to seamlessly offer crypto assets as loyalty points, and develop a strong and talented workforce with effective hiring. 

CEO and Co-founder Mohammed Roshan said, 

“Over the past year, we’ve been thrilled to see the GoSats model help Indians accumulate free bitcoin as cashbacks everytime they shop with their favorite brands. We’ll now be using our funding to scale our rewards card programme, build an infrastructure for users to seamlessly earn free bitcoin everywhere they shop, enable users to stake their bitcoin and earn attractive yield, have them spend their rewards on brands, NFTs, and play to earn games all within the GoSats app.”

GoSats was part of the first cohort of Accel's Atoms mentorship programme. The bitcoin rewards company enables a low-friction way to accumulate bitcoin when people shop from over 250 brands listed on the platform, including Flipkart, Nykaa, Swiggy, Bigbasket, and Myntra

Dvara E-Dairy raises $2M in pre-Series A from Axilor, Dvara Venture Studio

Dvara E-Dairy Solutions Pvt Ltd, an agri-fintech startup incubated at the Dvara Venture Studio of Dvara Holdings (formerly Dvara Trust), has raised $2 million in a pre-Series A round from Axilor and Dvara Venture Studio.

Having impacted over 150,000 farmers in India across seven states and tailored over 100 partnerships across the spectrum, this investment by Axilor will further accelerate Dvara E-Dairy's growth plans into newer geographies, enabling it to scale up its operations and investment in technology for better optimisation.

Founded in 2019, Dvara E-Dairy focuses on solving the problems of small and marginal dairy farmers by building an ecosystem platform and deploying new-age technologies that enable access to suitable financial and cattle management services for dairy farmers.

Its Surabhi platform provides comprehensive financial and cattle management solutions to India's small and medium dairy farmers, enabling financial services institutions and value chain companies to make informed decisions related to the dairy industry.

Ganapathy Venugopal, Co-founder and CEO of Axilor, said, "India's dairy economy is worth over $140 billion. Despite its size and impact on farmers' livelihood, the sector uses little technology. Cattle farmers have no means to measure and monitor the health of their cattle and often have very poor financial access. E-Dairy, through its technology, can play a significant role in ascertaining identity, improving cattle health, and enhancing financial access to cattle farmers."

(This story was updated with rounds raised by GoStas and Dvara E-Dairy.)

Edited by Suman Singh