Naomi Patisserie, Plugzmart, The Artment raise early-stage funding

YourStory presents a daily funding roundup for the Indian startup ecosystem. Here's the roundup for Tuesday, December 20, 2022.

Naomi Patisserie, Plugzmart, The Artment raise early-stage funding

Tuesday December 20, 2022,

2 min Read

Naomi Patisserie & Bakehouse raises Rs 5 Cr from SustainKart founder

Hyderabad-based bakery startup Naomi Patisserie & Bakehouse has raised Rs 5 crore from Kanthi Dutt, Co-founder of SustainKart. The funding will be used to set up the first retail outlet in Jubilee Hills, Hyderabad.

The firm will also focus on expanding its B2B segment alongside investing in product innovations, brand marketing campaigns, and strengthening distribution.

The venture was founded by Nikhitha and Akash Stanley, two former ITC sous-chefs.

EV charger maker Plugzmart raises Rs 3.63 Cr in early-stage funding

Chennai-based EV charger maker Plugzmart has raised Rs 3.63 crore in seed funding from Bluehill Capital and angel investors Meera Reddy of SKCL (Sri Kausalya Constructions Ltd), Kartik Meyyappan, L Ramkumar, Sivadas Raghava and Shailaja Reddy.

The company plans to use the funds for research and development, and to scale up the team besides ramping up production to meet the large order pipeline already in hand. The startup is targeting to deliver at least one million indigenously-designed and manufactured chargers in the next three years.

Plugzmart is an original equipment manufacturer (OEM) of electric vehicle chargers and SaaS provider of electric charging infrastructure. Incubated at IIT Madras in 2019, Plugzmart has built its own IoT-enabled smart EV charging management system to integrate and communicate efficiently with chargers. Its portfolio of nine products includes chargers for two-, three and four-wheelers.

Indian EV sector revs up for growth, major policy shifts in 2023

Home decor startup The Artment raises undisclosed seed round

Home decor firm The Artment has raised an undisclosed amount of seed funding from Mumbai Angels and a few angel investors. Established in 2016, The Artment designs home decoration items for premium audiences.

The company will leverage the latest capital infusion to launch products in the US and scale its business in the American ecommerce market. The home decor brand’s plan comes on the back of its successful testing of indigenous products in the US market while it was a part of Amazon’s Global Selling Propel programme, it said in a statement.

(The copy will be updated with the latest news throughout the day.)

Edited by Affirunisa Kankudti