Bluelearn, Magma, PadCare raise fresh capital
YourStory presents daily funding roundups from the Indian startup ecosystem and beyond. Here's the roundup for Wednesday, February 8, 2023.
Wednesday February 08, 2023,
3 min Read
Bluelearn raises $3.5M led by Elevation Capital, Lightspeed
, a social learning platform, raised $3.5 million from Elevation Capital, and Lightspeed. The seed funding round also saw participation from Titan Capital, 2AM VC, and angel investors including Meesho's Vidit Aatrey and Sanjeev Barnwal.
Lightspeed, and 100x.VC had invested in Bluelearn in an earlier round as well. Founded in 2021 by BIT Pilani, Goa alums Harish Uthayakumar and Shreyans Sacheti, Bluelearsn is a social learning channel where students can ask questions and get them solved by a group.
The platform started as a channel on Telegram, initially. Currently, it claims to have over 5,500 colleges and startups, across more than 20 countries, helping each other with questions on the platform. The platform also has Bluelearn Work for internships and freelancing programmes.
Magma raises $3.3M from General Catalyst, others
, a B2B manufacturing platform, raised $3.3 million in a mix of equity and debt. The seed round was led by General Catalyst, Titan Capital, and Accion Venture Lab. Existing investors including WEH Ventures, and All in Capital increased their investments in the firm. Mamaearth's Varun Alagh, among other angel investors, was also a participant.
The newly raised funds would be used for the expansion of product offerings.
Founded in February 2022, as a business-to-business (B2B) supply chain enabler, Magma works in the construction material space, full-stack solutions for factories, and industrial chemical manufacturer, among others. In August, last year, the firm raised pre-seed round of $515,000 from WEH Ventures, All in Capital, and PointOne Capital, among others.
PadCare raises Rs 5 Cr from Social Capital, others
, a waste processing and recycling firm, raised Rs 5 crore in a seed funding round from Social Alpha, Lavni Ventures, 3i Partners, Rainmatter, and Spectrum Impact.
The Pune-based startup will use the capital to expand operations across other cities in the next 24 months. PadCare wants to set up decentralised material recovery centres.
Started in 2018 by Ajinkya Dhariya, PadCare operates in the menstrual hygiene space. The firm creates ways for women to make sustainable choices, without having to change their preferences. A team of 45, currently operates out of six Indian metro cities. PadCare works with corporates including Capgemini, Aditya Birla Group, and Proctar and Gamble (P&G), 250 others.
TapOnn Digital raises Rs 1.5 Cr led by US-based Wita Inc
, a networking platform, raised Rs 1.5 crore in a seed funding round led by Wita Inc, which is based in the US. The funds will be used to improve technology, increase marketing, and develop more products.
Started in July 2022 by Dhruv Jolly, TapOnn provides a platform where brands and professionals can provide personal and professional information. Based in Indore, the firm creates smart coins, smart cards, and chips, which can facilitate the transmission of user data, among other products.
Edited by Kanishk Singh