[Funding roundup] B2B SaaS company Soptle, EV firm Vajram raise early rounds

YourStory presents the daily funding roundup from the Indian startup ecosystem and beyond. Here's the roundup for Tuesday, November 22, 2022.

[Funding roundup] B2B SaaS company Soptle, EV firm Vajram raise early rounds

Tuesday November 22, 2022,

2 min Read

B2B SaaS platform Soptle raises $300K from angels

SaaS-led B2B retail commerce platform Soptle said it has raised $300,000 in an angel round led by early-stage venture firms Kube VC and Soonicorn.

Industry angels and veterans financed the round too, including Dunzo's Ankur Agarwal, Fitso's Saurabh Aggarwal, Gati's Pirojshaw Sarkari, and All-Cargo Group's executive director, Vaishnav Shetty, among others.

The fresh capital will be used primarily for hiring more people, strengthening the product, and generally for investment in growth areas.

“Soptle is truly revolutionising the manufacturer and retailer ecosystem. Its tech-enabled sales and distributions channel-cum-market linkage helps manufacturers expand their business geographically at no fixed cost, improve their capacity utilisation and improve their net margins by three-four times," said Faiz Mayalakkara, Partner at Kube VC.

Founded in 2022 by 19-year-old high school graduate Pravas Chandragiri, Soptle is a tech-commerce platform that helps FMCG businesses distribute their products to active retailers across India.

eBikeGo's unit Vajram Electric raises $1.5M in seed funding

Electric mobility company Vajram Electric said it has raised $1.5 million in a seed round led by HNIs and other investors.

A unit of eBikeGo that also includes brands such as MUVI and Velocipedo, Vajram Electric was established to fulfil the manufacturing requirements of the parent company. The company is in the throes of setting up a manufacturing plant in Chakan, Pune.

Investors in the round include Nikul Gala and family, as well as their marquee HNIs.

FairTok raises Rs 2 Cr in seed round

FairTok, a short video communication platform startup based out of Palakkad, Kerala, has raised Rs 2 crore in a seed round of funding. Founded by Sreejith Srinivas in 2020 and now with a team of 30 people, this startup facilitates in-person content creation, communication, virtual connectivity and social marketplace formation to create a self-sustaining online user base creation.

Fairtok plans to use the funding to scale its technology infrastructure, acquire users, and enhance its content-creator experience. This startup claims to have over 100,000 downloads.