[Funding roundup] Human Edge, MyMuse, Algomage, Bored Beverages, Perpetuity Capita secure deals

Human Edge raises $1.5M 

Human Edge, a longevity science company, has raised $1.5 million in new equity financing. The investment was led by Bharat Innovation Fund, along with Lead Angels and Force Ventures, and a number of strategic angel investors from Singapore, the US, and India.

Founded by Dr Marcus Ranney in late 2020, Human Edge approaches longevity by enhancing healthspan using science, deep data and technology-based lifestyle interventions. The company is building a proprietary platform for empowering its users to engage in daily “biohacks”—small, actionable, lifestyle-based modifications that focus on optimising a person’s energy levels toward meeting a specific health outcome. 

“We, at Human Edge, chose to focus on energy as each of us would like to optimise our energy levels each day to achieve the goals we set out for ourselves”, says Dr Marcus Ranney, Founder and CEO, Human Edge. 

MyMuse raises Rs 9.5 Cr in seed funding

Direct-to-consumer (D2C) sexual wellness and bedroom essentials startup MyMuse has raised a seed round of Rs 9.5 crore ($1.2 million).

The round was led by Saama Capital, and saw participation from MyMuse’s pre-seed investors, Sauce VC and Whiteboard Capital. Around 12 prominent angels have also joined the cap table over the two rounds of funding, including Mohit and Malika Sadaani (The Mom’s Co.), and Varun Sadana (Supertails, Licious). 

The brand plans to use these funds to grow its team, introduce a range of innovative products, strengthen brand positioning, and expand distribution.

Launched by husband-wife duo, Sahil and Anushka Gupta in 2021, MyMuse is India’s first gender-neutral brand dedicated to sexual wellness.

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Algomage raises $850,000 in pre-seed funding

Mumbai-based, AI post-production startup Algomage has received $850,000 in a pre-seed funding round led by The DotIn Network—a closed-door network of investors for marquee family offices and angel investors. 

Founded in 2021 to innovate in post-production for digital photography across the world by Founder and CEO Anand Rathi, Algomage has been built by photographers as the world’s first full-stack artificial intelligence (AI) post-production suite that can process raw pictures into superlative images in near real-time.  

Algomage will be deploying the funds to introduce new tools on its AI post-production suite and expanding to overseas markets. 

Commenting on the conclusion of its pre-seed funding round, Anand said, ”With the recently concluded pre-seed funding round, our focus will now rest on unlocking new tools, while also expanding our customer base to markets beyond India.”

Bored Beverages raises over Rs 2.5 Cr in seed round

Beverage brand Bored Beverages has raised over Rs 2.5 crore, or close to $314,500, in a seed round led by Inflection Point Ventures. 

It also had participation from private investors Bhawana Bhatnagar (Founder, WeFounder Circle), Soumya Kant (Founder, Clovia), as well as Dot In Network. Prabhtej Singh Bhatia, Founder of Simba Beer, will be joining in the journey of building Bored Beverages as a strategic investor and mentor. 

The funds raised will be utilised towards the expansion of the team and scaling of sales and marketing operations, and will also be used towards establishing a well-set distribution channel and building the brand in the market.

Vinayak Malhotra and Anant Gupta founded Bored Beverages in 2020. Bored Beverages is building a cross-category portfolio of alcoholic beverages for millennials and Gen-Z by bringing out newer brands with various flavours and different alcohol percentages, using various traditional and non-traditional ingredients. 

Vinayak said, “The seed funding is going to play a pivotal role in achieving the vision for Bored Beverages which is to break the monotony of traditional alcohol in the Indian market. IPV recognised our play in the alco-bev sector and we’re glad that they have partnered with us.”

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Startup news and updates: daily roundup (August 30, 2022)

Lending platform Perpetuity Capital raises Rs 1 Cr 

Kolkata-based asset-backed lending startup Perpetuity Capital on Monday raised Rs 1 crore in venture debt from Sungrace Finvest.

Perpetuity Capital is the online platform of Oracle Marketing (P) Ltd, which is a registered NBFC (Non-Banking Financial Company) with the Reserve Bank of India (RBI). The company was co-founded by Karmveer S Dhillon in 2017. Perpetuity Capital enables asset and electric vehicle ownership for single-owner operators, drivers, and underserved entrepreneurs in the auto sector. 

Karamveer Dhillon, Co-founder and CEO of Perpetuity Capital, stated, "We are further investing in our tech to allow our customers to track their assets using our mobile application. Moreover, we are looking to fund this green revolution that is taking place in India."

Impactsure Technologies raises $1M as seed capital

Impactsure Technologies (Impactsure), an artificial intelligence (AI) and machine learning (ML) powered digitisation and analytics company, has raised $1 million as seed capital during its maiden fundraising endeavour to fund its growth activities.

The participants in this round invested in their personal capacity. The company did not disclose the valuation and stake dilution from this round.

Dharmarajan Sankara Subrahmanian, Founder Director and CEO, Impactsure said,

“The amount raised in this round will be utilised for key talent acquisition and resources retention, customer acquisition, geographical expansion, branding, marketing and business development; and towards IP, digital product assets and technology tools, and infrastructure. We foresee double-digit growth opportunities in the BFSI space for our flagship automation product, SureMatch. This incremental capital will enable us to fully leverage the emerging opportunities.”

To support its growth, Impactsure recently expanded its senior management team by onboarding BFSI technology leader, Ramasubramanian S (Sriram) as President, Banking Operations and human resources specialist, Vinu Pillai, as head HR.

Soptle raises undisclosed amount in an angel round

Soptle, a software-as-a-service (SaaS) led B2B retail commerce platform, has raised an undisclosed angel round led by Soonicorn LLP and a clutch of marquee logistics leaders including Vaishnav Shetty (Executive Director and CDO of All-cargo Group), Pirojshaw Sarkari (CEO of Gati Ltd), and Saurabh Agarwal (ex-Founder Fitso (acquired by Zomato), and more. 

Launched in May 2022 by 20-year-old engineering school dropout Pravas Chandragiri, Soptle is a micro SaaS-led B2B retail commerce platform that helps consumer goods companies distribute products by using its network of over 15,000 retailers across the country. The company claims to have about 400 distributors and 60 manufacturers on its platform. 

The funds raised will be used to expand Soptle’s distribution network across the country, scale product capabilities as well as grow the team.

(This article will be updated with the latest news throughout the day)