HireSure.ai, Cookr pick up fresh funding
YourStory presents daily funding roundups from the Indian startup ecosystem and beyond. Here's the roundup for Wednesday, February 15, 2023.
Wednesday February 15, 2023,
4 min Read
Venwiz raises $8.3 million led by Sorin Investments, existing investors, others
, an industrial services platform, raised $8.3 million, in Series A round, led by Sorin Investments. JAFCO Asia, Riverwalk Holdings, Force Ventures, existing investors such as Accel and Nexus Venture Partners, and a few angel investors also participated in the round.
In the last round, Venwiz has raised $3 million in seed funding round, and will use the funds for product enhancement and team expansion. So far, the firm has onboarded more than 10,000 vendors, across more than 40 service categories.
Venwiz was started in 2020 by Sandesh Paturi and Rajesh Reddy as a software-as-a-service (Saas) marketplace focusing on the manufacturing industry to digitise industrial services procurement and capex, among other things.
HireSure.ai raises $2.5 million from Y Combinator, Binny Bansal
, an human resource tech platform, raised $2.5 million, in seed round, from Y Combinator, Binny Bansal's Three State Capital. Tribe Capital, which is based in San Fransico, and Pioneer Capital also participated in the round.
The funds will be used to build new products, and scale up product and engineering team, according to a statement shared by the company. Founded in 2019 by IIT Kanpur alums Anshul Mishra, Ramesh Konatham, and Anurag Dixit-- HireSure.ai uses real-time data to for companies to make efficient compensation decisions, among other things.
“We believe that this problem of pay disparities can be solved only when companies come together to democratize access to real-time compensation benchmarks," said Anurag Dixit, Co-founder of HireSure.ai.
Cookr raises $1 million from angels in pre-seed funding round
Cookr, a home food-tech marketplace, raised $1 million, in pre-seed funding round from a group of angel investors including emplyees from Titan Company, Amazon, Microsoft, and M2P Fintech's founder.
The funds would be used to expand across Tamil Nadu, among other states in India. The firm also aims to on-board 2,00,000 home cooks over the next 5 years.
Started in 2022 by Praba Santhanakrishnan, Nirmalkumar Muthu, and Saravanakumar Kandasamy-- Cookr offers a nutritious and home-cooked food through more than 500 home cooks. The food is also prepared keeping dietary preferences in mind. Currently, the food-tech platform is present across Coimbatore, Madurai, Trichy, Hosur, Chidambaram, Thanjavur, Salem, Vellore, and Kumbakonam.
Cookr plans on starting operation in Puducherry, and other cities are also in the pipeline.
Recur Club, Faad Network to allocate up to Rs 50 Cr capital
, an alternative financing platform, has partnered with Faad Network to allocate up to Rs 50 crore in capital across about 100 startups by the end of 2024. The capital offered is non-dilutive.
The collaboration is brought in place to hand-hold and nurture early-stage startups through the funding winter, according to a release shared by the firm. "Our collaboration with Faad Network, which is a bridge between growing startups and investors, will allow us to support a diverse array of startups," said Eklavya Gupta, Founder and Co-CEO, Recur Club.
Faad Network has a corpus of Rs 300 crore and is a SEBI-registered category 1 fund. Started in 2015, the fund has invested over Rs 75 crore across 65 startups, including Blu Smart, Hesa, and Cleardekho.
Mufin Green Finance raises $7 million in green bonds
Mufin Green Finance, an electric vehicle (EV) financing NBFC, raised $7 million in green bonds from Symbiotics Investments. The NBFC plans on using the green bonds to strengthen the retail presence of two- and three-wheeler EVs across India.
The firm plans on initially connecting with at least 5,000 consumers and later increasing the reach to about 100,000 people, according to a release shared by the company. "As we cater to underserved and low-income segments, it becomes imperative to expand our reach and product offerings for better customer acquisition," said Kapil Garg, Founder, Mufin Green Finance.
"We strive to remove the roadblocks for e-rickshaw drivers, sellers and dealers to shift to electric vehicles that are more sustainable and efficient as compared to conventional engines. Our go-to solution for this population will help them avail financial services while adding additional income avenues to uphold their livelihoods," he added.
Edited by Akanksha Sarma