[Funding roundup] Ximkart, Finnovate raise fresh capital

Here are the startups that announced early-stage rounds of funding on September 15, 2022.
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Ximkart raises $2.4M led by Matrix Partners

Cross-border raw material sourcing startup Ximkart has announced a new fundraise of $2.4 million led by Matrix Partners, with participation from Multiply Ventures, Better Capital, and Citius Ventures. Additionally, the founders of multiple high-profile companies such as Udaan, OfBusiness, Ula, and Zetwerk have invested as angels.

Founded earlier in 2022 by Sharan Urubail and Ankush Mittal, Ximkart aims to simplify the process of procuring and importing raw materials for manufacturers globally. By providing better transparency, discovery, quality and accountability in the supply chain, they hope to eliminate middlemen.

CEO Sharan Urubail said, "Our platform provides manufacturers with direct access to the best raw materials from across the globe—along with easy payment and logistics solutions to make the entire procurement process seamless. Our goal is to significantly contribute to the journey India is making towards being a global manufacturing epicentre.”

Ronin Wines raises $2M in Pre-Series A round

Ronin Wines, the makers of Moonshine, a mead alcoholic beverage, has raised $2 million as part of their pre-series A round of funding led by Anthill Capital.

This round also saw the participation of Auxano Capital, Supermorpheus and Merisis, as well as existing and new angel investors.

Ronin Wines will deploy this fresh capital to strengthen its presence in the existing markets of Maharashtra, Karnataka, Goa, Uttar Pradesh, Himachal Pradesh, Rajasthan, Assam and Silvassa. Besides, it aims to enter into new markets like Haryana and West Bengal. This startup noted that the idea is to establish Moonshine as a national brand over the next three years besides looking at the export markets.

Rohan Rehani, Co-founder, Ronin Wines, said, “With Moonshine, we are trying to plug the flavour gap for consumers as they transition from juices and colas to beers and spirits.”

Mead is considered as the oldest alcohol in the world and made by fermenting honey with various fruits and spices. Ronin Wines makes meads which are predominantly low alcohol and carbonated, which has often found them competing with beers and ready to drink beverages.

Moonshine Meadery founders: Rohan Rehani (left) and Nitin Vishwas

Weathtech platform Finnovate raises nearly $1M in Pre-Series A round

Finnovate, an end-to-end investment services firm, has announced its Pre-Series A funding round of $1 million.

The company is led by Naveen Singh and Nehal Mota, who each have around two decades of experience in the financial sector.

The Finnovate platform offers personalised financial life planning and researched-backed investment portfolios to working professionals, high-net-worth individuals, and families. The company is planning to use the funds to scale its technology-led wealth management platform and Finnversity, a financial literacy platform.

New Leaf raises Rs 6.15 Cr from Facebook co-founder's fund

Delhi-based New Leaf Dynamic Technologies has announced that they have raised Rs 6.15 crore in a Pre-Series A round from Dustin Moskowitz's investment fund Good Ventures. Moskowitz co-founded Facebook (now Meta) but left in 2008 to found Asana.

New Leaf currently produces the GreenCHILL refrigeration unit, which is powered by biomass and farm waste. Recently, the company also started offering access to finance to its end-users, farmers and farmer-producers via loans guaranteed by various banks and financial partners.

Co-founder Akash Agarwal said, "We will be utilising the capital raised through this round majorly to strengthen India’s cold chain infrastructure—reducing post-harvest losses by replacing conventional compressor technologies with New Leaf’s biomass-powered Made-in-India refrigeration technology which is affordable, sustainable and reliable."

Multilingual dubbing platform Dubdub.ai raises $1M

Dubdub, an AI-powered platform that allows for audio and video dubbing in 50-plus languages, has announced a new fundraise of $1 million led by Waveform Ventures and Accel Atoms. Other marquee investors include Koo founder Aprameya Radhakrishna, Mindtickle founder Nishant Mungali, and others. Accel Atoms is a non-dilutive programme to help startups by Accel India.

The Dubdub platform is 4-10X faster than traditional dubbing, completely secure, and doesn't require a studio to record. Around 80% of the dubbing process is automated, making the process approximately 70% cheaper than traditional dubbing according to a press release by the company.

"Our mission at Dubdub.ai is to democratise and personalise audio/video content. With our end-to-end platform, content owners and studios can get results in weeks rather than months, so that dubbing projects are completed faster," said Anubhav, Founder of Dubdub.ai.

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

Edited by Kanishk Singh

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