BankSathi, Greenikk, Medbikri and MindPeers shine in early-stage deals

YourStory presents daily funding roundups from the Indian startup ecosystem and beyond. Here's the roundup for Monday, January 9, 2022.

BankSathi, Greenikk, Medbikri and MindPeers shine in early-stage deals

Monday January 09, 2023,

3 min Read

Fintech startup BankSathi raises $4 mn in Pre-series A round

Social commerce platform Banksathi said it raised $4 million in Pre-series A round from Kotak Securities, Lets Venture, We Founder Circle, Hem Securities and Inflection Point Ventures on Monday.

It has also received funding from Recur Club, Liquiloans, Sunil Singhania (Abakkus), Kunal Shah (CRED), Dr. Ritesh Malik (Innov8), Kailash Biyani (Asian Markets), Mukul Rastogi & Bhaswat Agarwal (Classplus), Varun Alagh (Mamaearth), Sameer Rastogi (India Juris), Manish Dabkara (EKI Energy), Dinesh Godara (3X founder), and Mukund Modi (MS Fincap).

The startup said it will use the funds to hire talent and speed up product and technology development. It will also increase its agent network besides stepping into new regions.

Agri tech startup Greenikk raises Rs 5.04 crore in pre-seed funding

Kerala-based greenikk said it has raised Rs 5.04 crore in pre-seed funding from some institutional funders, angel investors and serial entrepreneurs based in India and abroad. Of the total amount raised, Rs 3.34 crore will be in the form of equity and the rest in debt.

9 Unicorn Ventures led the round. Smart Spark Ventures, Manish Modi who heads Mauritius-based Mastermind Capital Ventures, Saurabh Agarwal and Mayank Tiwari, founders of Reshamandi and Arjun Pillai, who sits in the board of NASDAQ-listed Zoom info, also participated in the round.

The startup which has launched India's first full-stack supply chain connecting banana cultivators, wholesalers, exporters and B2B buyers on a single platform, will use the fresh funds to establish model enablement centres, build a scalable business model and hiring. It aims to hit Rs 100 crore in annual recurring revenue in the financial year of 2022-23.

Medbikri raises $650,000 in pre-seed funding round

Medbikri, which claims to be India's first app for pharmacy inventory management, said it has raised $650,000 in the pre-seed funding round. Led by 3one4 Capital, the round saw participation from Siddharth Ahluwalia (Founder, 100X Entrepreneur), Tej Kapoor (Managing Partner, IvyCap), Sanjeev Barnwal and Vidit Atrey (Founders, Meesho), Saurabh Agarwal and Manish Jethani (Co-Founders, Hevo Technologies), Rahul Sharma (Co-Founder, Zetwerk), Amit Damani (Founder, StayVista), and Viren Prasad Shetty (Executive Vice Chairman, Narayana Health), among others. 

The startup will use the funds for team building, product development and scaling the app. It is looking to onboard 50,000 chemists/pharmacists across Uttar Pradesh, Madhya Pradesh, Jharkhand, Bihar, Karnataka and Delhi in the first six months.

Medbikri plans to open over 10,000 e-clinics across India including select pharmacies in Lucknow in 2023. So far, the company has helped sell more than 25 lakh medicines and issuing over 1.5 lakh prescriptions.

Venture Catalysts leads $500,000 seed funding round for MindPeers

Venture Catalysts, an integrated incubator and a full-stack investor for early to growth stage startups, said it has led a $500,000 round of seed funding in Mindpeers, an AI-powered gamified mental fitness platform. Others who participated in the round include Goodwater Capital, Magic Fund, Ministry of Electronic and IT, a strategic investor from the gaming industry along with others.

The software-as-a-service company has an app that measures mental fitness and finds correlations between mental health and biomarkers. It provides the users human intervention with therapists in addition to clinical digital tools that tells them about the benefits of adopting mental fitness. MindPeers was co-founded by Kanika Agarwal and Sahil Chitkara in 2020.

(This story has been updated to correct a spelling error)

Edited by Akanksha Sarma