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IndusGo, FretBox, and Doqfy raise funding

YourStory presents daily funding roundups from the Indian startup ecosystem and beyond. Here's the roundup for Tuesday, March 21, 2023.

IndusGo, FretBox, and Doqfy raise funding

Tuesday March 21, 2023 , 3 min Read

IndusGo raises Rs 100 Cr in its second round of funding

Self-drive car rentals platform, IndusGo bagged funding of Rs 100 crore from the parent company, Indus Motors.

IndusGo

The company plans to use the funds to expand its fleet of vehicles by 1,000 cars in addition to the existing fleet of 480 cars, employ advanced cutting-edge technology, provide a seamless booking process, and hire additional staff to improve customer service. 

Founded in 2018, IndusGo operates on a self-drive car rental business model, where customers can reserve a car for a few hours, days, or even months through the IndusGo app and website. The company is planning to launch across metro cities in South India like Bangalore and Hyderabad. 

FretBox raises pre-Seed funding of Rs 10M from JSS STEP, India Accelerator, and Angel investors

Noida-based SaaS platform for hostels, Fretbox has raised a Pre-Seed of Rs 10 million funding round led by JSS STEP and India Accelerator, with participation from a group of angel investors.

The funding will be used to fuel the company's growth, expand its product offerings, and scale its operations.

"We are thrilled to have the support of JSS STEP, India Accelerator, and our angel investors as we continue to grow FretBox. Their network and investment allow us to expand our team, enhance our product offerings, and reach more customers around the world." said Ashish Gupta, Founder, and CEO, FretBox.

FretBox helps university and college hostels in the digital transformation of their campuses with help to upgrade security, communication, assistance, and fund collection tools. It has made student proof of presence simple, seamless, and at the fingertips of the warden, on the other side, it brings convenience to students to raise complaints, and leave requests, and stay tuned to hostel information 24X7.

Doqfy raises Rs 7.5 Cr in Pre Series A from Turbostart and Pentathlon VC

Contract execution SaaS platform Doqfy has raised Rs 7.5 crore in a Pre Series A round led by Turbostart and Pentathlon VC. Other investors who participated in the round are Lead Angels, SilverNeedle VC, LetsVenture, and Angel.co, led by Archana Priyadarshini.

The funds raised will be used for tech enhancements of the platform and business growth through building partnerships.

Founded in 2019 by Aditya Pandranki, Manjula Rao, and Vilaas BV, Doqfy is a contract execution platform with contract creation, negotiation, stamp duty payment with digital signatures, and milestone management capabilities, supporting enterprise and SMB customers.

The Company works with marquee customers like HDFC Bank, Bajaj Finserv, Ujjivan Small Finance Bank, Axis Bank, DBS Bank, Xiaomi, Swiggy, Meesho, Unacademy and JLL, Colliers. The Company currently has a team strength of nearly 40 people. 

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


Edited by Affirunisa Kankudti