Homesfy, Relove raise early-stage deals
Here are the startups that announced early-stage rounds of funding on November 28, 2022.
Homesfy Realty secures $1.1M funding
Property technology firmannounced that it has raised $1.1 million from early-stage growth investors Girish Gulati, Dnyanesh Bhatavadekar, Neha Idnany, Yogesh Bagaria, and Amit Bagaria.
This funding announcement comes ahead of its planned initial public offering (IPO). The company has filed its draft red herring prospectus (DRHP) for SME IPO with NSE Emerge.
The company said it will use the funds to support its expansion across multiple cities in India and fructify its plans to enter international markets.
Founded a decade ago, the Mumbai-headquartered company has an operational presence in four cities in India, including Pune, Bengaluru, and Delhi NCR.
It recently initiated the process of acquiring EQServ, a Mumbai-based real estate broking firm.
Relove raises $700,000 in pre-seed funding
Relove, a technology platform that helps brands with circularity, has raised $700,000 in a pre-seed funding round led by Hearth Ventures with participation from Blume Ventures, as well as angel investors Anita Dongre, Aakrit Vaish, and Utsav Agarwal.
The company said it plans to use the funding to help more brands become circular, expand its product to additional categories, and launch its offline takeback programme in physical stores.
“This investment underlines our focus on circular economy and the need for greener lifestyle choices,” Shefali Chhachhi, Co-founder and Managing Partner at Hearth Ventures, said in a statement.
“Our decision to invest in Relove was driven by both the need for such a solution for fashion and lifestyle brands as well as a strong conviction in the founder's ability to solve effectively for this challenge, given their experience, passion, grit, and execution focus,” she added.
Founded in November 2021 by Kirti Poonia and Prateek Gupte, Relove offers resale technology that helps brands acquire new customers and build deep customer loyalty. It is live with 40 brands across multiple categories such as women's apparel, men's apparel, kidswear, and jewellery.
Certus Capital invests Rs 30 Cr in EON
Institutional real estate investment and advisory firm Certus Capital has invested Rs 30 crore in EON One, a Mumbai-based residential project, in a debt round.
This secured debt investment opportunity will soon be available for investors through Earnnest.me, the digital neo-financing platform of Certus Capital.
Certus Capital stated that with the latest Rs 30 crore investment, investments through Earnnest.me have crossed the Rs 100 crore mark within months after its launch in February 2022.
“This investment in EON is a part of Certus Capital’s strategy to fund well-placed projects being executed by experienced developers in Tier I cities,” Ashish Khandelia, Founder of Certus Capital and Earnnest.me, said in a statement.
The company said it plans to deploy about Rs 500 crore in FY 22-23 in a secured real estate credit deal through Earnnest.me. As a part of its strategy, Certus Capital takes up 10-15% of each investment to ensure its presence throughout the investment cycle.
Certus Capital is also planning to launch its first category-II alternative investment fund in 2023.
(This article will be updated with the latest news throughout the day.)
Edited by Megha Reddy