Fashinza, Plutus, PeProp.Money raise funds
YourStory presents daily funding roundup from the Indian startup ecosystem and beyond. Here's the roundup for Tuesday, March 28, 2023.
B2B marketplace Fashinza raises $30M from Mars Growth Capital
Gurugram-based fashion supply chain startup has raised $30 million in funding from Mars Growth Capital and Liquidity Group. The company will use the funds to support working capital requirements to expand into the US, Gulf, and Europe, it said in a statement.
Founded in 2020 by Abhishek Sharma, Pawan Gupta, and Jamil Ahmad, Fashinza's business-to-business (B2B) marketplace connects small, medium and micro enterprises directly to top fashion brands across the world.
To date, the firm has raised more than $135 million from investors such as Elevation, Prosus, Westbridge Capital, and Stride Ventures. In its latest funding round last May, the company raised $100 million in equity and debt from Prosus Ventures and Westbridge Capital.
Artha India Ventures backs Kenya-based mobility startup Buupass
Mumbai-based Artha India Ventures has invested $1.3 million in Kenya-based mobility marketplace startup Buupass. The development marks the family office's third investment in the African continent.
The round was led by Founders Factory Africa and saw participation from other investors like Google Black Founders Fund, Gullit VC, Five35 VC, FrontEnd Ventures, Adaverse, Renew Capital, Changecom, XA Network, Ajim Capital, and Daba Finance.
Founded in 2016, BuuPass follows a business-to-business-to-consumer (B2B2C) approach and gives fleet owners a full-stack bus management system to manage operations, inventory, and sales. It helps customers search, compare and book tickets across different channels through their marketplace, like websites, apps, and USSD codes.
“Artha India Ventures is taking an early bet to back potential category winners with immense promise. In that vein, BuuPass has taken the lead in building digital rails for Africa’s intercity transport infrastructure. Based on Artha’s success in navigating this digitization play in India, we are confident that BuuPass will grow rapidly into a market leader," said Anirudh A Damani, Director of Artha India Ventures.
Creators platform Plutus raises $280,000 from Campus Fund
, a platform for creators, said on Tuesday that it raised a pre-seed round from Campus Fund and other investors including CIIE - IIM Ahmedabad, Shruti (Co-founder, ApnaKlub), and Alagu Preiyannan (Co-founder, Bluejeans).
Founded in June 2021, Plutus is a platform equipped with a two-way flow of content via live rooms, group chats, creator-led games, integrated payments and analytics. The company will use the freshly raised fund to finance expansions across India and Southeast Asia as well as to facilitate new sets of launches in the hyper-casual games category.
“With an innovative pay-as-you-go structure, creators are able to earn more than subscriptions or workshops from their user base, and in some cases, more than advertiser promotions," explains, Karata Dasmahapatra, Co-founder and CEO of Plutus.
Real estate startup PeProp.Money raises seed funding from India Accelerator
Proptech startup has raised undisclosed seed funding from India Accelerator. The funds from this round will be used to further enhance its technology, and attract new markets and customers while continuing to provide unparalleled service to the existing partners, it said in a statement.
PeProp.Money's AI and big data-based applications ensure verified properties with a good track record are listed on the platform, which enables developers, channel partners, and brokers to connect with buyers and investors for property-related deals.
It has facilitated over 1,750 deals worth Rs 1,375 crore, working with more than 15 developers across 30 projects in the last 15 months.
Disclaimer: This story has been updated to correct the name of a person mentioned in one instance.
Edited by Akanksha Sarma