[Funding roundup] Assert AI, Dhiway, Sanfe, Meeraq and others raise capital

YourStory presents daily funding roundups from the Indian startup ecosystem and beyond. Here's the roundup for Monday, November 7, 2022.

[Funding roundup] Assert AI, Dhiway, Sanfe, Meeraq and others raise capital

Monday November 07, 2022,

4 min Read

Arya.ag invests in computer vision-focused SaaS startup Assert AI

arya.ag, an integrated grain commerce platform, has announced a strategic investment in computer vision-focused SaaS startup Assert. The development is part of Assert AI's latest fundraise amounting to $2 million and involved participation from Prashant Purker, ex-MD and CEO of ICICI Venture, in his personal capacity. 


Assert AI aims to utilise the funds to expand its presence overseas in the US market and develop exclusive products for the agriculture industry. This strategic investment aims to strengthen Arya.ag’s blockchain offerings, and AI and deeptech vision for unprecedented visibility and assurance for its storage, financing, and commerce offerings.

Sanfe raises $1.5M in Series A2 round from existing investors

Sanfe, a grooming brand for women, has raised another round of funding of $1.5 million from existing investors like S Chand Family Office, Seeders, Lets Venture, and angel investors including Abhay Tandon and Yash Kotak. Last year, Sanfe raised $1 million in a Series A funding round which makes the total funding $2.5 million.

Sanfe intends to use the additional funding raised to enter the offline market and control the femcare market. Sanfe's product line spans various areas such as body grooming, shaving and hair removal, and body care products. The business is also pursuing celebrity partnerships to strengthen its presence and brand recognition within the target market.

Venture capital funding

Dhiway raises $1M in a pre-seed round from Cornerstone, SUNiCON Ventures

Blockchain startup Dhiway has raised $1 million in a pre-seed round led by Cornerstone Venture Partners Fund, SUNiCON VENTURES and existing shareholders.

Dhiway operates and maintains India’s first verifiable data exchange platform, #MARK Studio, anchored on the CORD (an enterprise blockchain infrastructure made in India, made for the world). The design and implementation of this blockchain provide the application with attributes of privacy, security and compliance with data regulations, including those likely to be in force in the near future.

It currently works with large public and private Institutions in the areas of governance, identity, payments, digital commerce, skills, education and workplace solutions in their journey to adopt emerging Web3.0 technologies.

Edtech startup Meeraq raises angel funding of $220K from top unicorn chiefs

Meeraq, a soft skill upskilling edtech startup, has raised $220K, in the funding round led by top executives. The lead investors include co-founders, CXOs, CHROs, and CTOs from varied unicorns to large enterprises. The team aims to use the funds for the expansion of its team, upgrade operational infrastructure, and improve its tech platform.

Founded by IIT Bombay alumni Sujata Barla and Rajat Garg in April 2022, Meeraq is disrupting the learning and development market with live cohort-based learning along with 1:1 coaching for impactful soft skill training.

Adtech startup SilverEdge raises Rs 95 crore ($11.6M)

Gurugram-based adtech firm SilverEdge Technologies has raised Rs 95 crore in a funding round led by JM Financial Private Equity, Mirabilis Investment Trust, and Seven Hills Capital, along with angel investor Ashish Kacholia.

Proceeds from the investment will be used to accelerate its overseas expansion and for inorganic growth opportunities, the firm and JM Financial said in a joint statement.

SilverEdge provides advertising solutions to media agencies/brands/advertisers and claims to offer more effective and privacy-focused advertising using its proprietary AI platform.

Apart from the home market, SilverEdge is present in over nine countries across Southeast Asia, the Middle East, Africa, and the US.

Rivaara Labs raises Rs 60 crore ($7.3M)

Rivaara Labs, which is focused on testing services and R&D-focused molecular diagnostics, has raised Rs 60 crore in a funding round from Amicus Capital and Kotak Investment Advisors.

The funding round also saw the participation of Bharat Daftary, the founder of Rivaara.

Rivaara is a vertically integrated molecular diagnostic company founded in 2019 by Daftary, who was also the promoter of Bharat Serums & Vaccines.

The company has developed PCR-based test kits in collaboration with European Research Labs for illnesses such as respiratory diseases, sepsis, TB, and anti-microbial resistance, among others.

Rivaara plans to utilise the funds to accelerate the development and commercialisation of proprietary test kits, upgrade the manufacturing facilities, expand its lab network, and scale up the scientific sales force as well as technical talent.

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

Edited by Kanishk Singh