NOTO Ice Cream, Artinci raise revenue-based financing from Klub
YourStory presents the daily funding roundup from the Indian startup ecosystem and beyond. Here's the roundup for Monday, April 10, 2023.
Monday April 10, 2023,
4 min Read
Klub extends Rs 10 Cr in several D2C startups ahead of summer sales
Revenue-based financing company invested Rs 10 crore in D2C startups such as Papacream, NOTO Ice Cream, , and .has
The startups will use these funds as working capital to scale during the summer months, secure inventory, meet the demand for cold beverages and snacks, and improve their performance marketing.
"As we gear up for the summer season, we are focusing on leveraging our working capital to ensure we are well-prepared to meet the surge in demand," said Ashni Shah, Co-founder and Director at NOTO Healthy Ice Cream.
"This includes launching new product lines, ensuring there's enough inventory to keep up with the demand and expanding our delivery capabilities to be able to service existing plus new customers," she added.
Klub is a revenue-based financing startup that funds companies based on their financial information and without any equity dilution.
Papacream, NOTO Ice Cream, and Artinci are all ice-cream-focused startups, while Local Ferment Co is a kombucha brand.
Co-working marketplace Stylework raises $2M
has raised $2 million at a valuation of $20 million in a Series A1 round from QI Ventures, We Founder Circle, iAngels Network, Sateeq Invest, Impactful Pitch, and other HNIs.
The startup will use the funds to build and grow its workspace aggregator tech and increase its foothold in India. It will also launch in Southeast Asia and the Middle East/North Africa regions.
"At present, we have our presence in 80 Tier I, II, III, and IV cities, and we intend to keep our maximum focus on penetrating deeper into the Indian market share...," said Stylework Founder Sparsh Khandelwal.
Founded in 2016, Stylework is a B2B SaaS marketplace. It has over 2,500 co-working spaces on its platforms across India, as well as over five lakh seats.
Its net revenue for FY22-23 was $1.7-$1.8 million.
Celcius Logistics raises Rs 100 Cr in Series A
Cold chain marketplace Celcius Logistics secured Rs 100 crore in its Series A funding round led by IvyCap Ventures.
The company aims to utilise the fresh capital for tech innovations to solve the fragmented cold supply chain, reduce wastage in perishables, and focus on sustainability.
Tej Kapoor, Managing Partner at IvyCap Ventures, will join Celcius' board of directors. Celcius earlier raised Rs 35 crore from existing investors Mumbai Angels, Supply Chain Labs, Endurance Capital, VCats, Huddle, Eaglewings Ventures (EVAN), and others.
Celcius Logistics offers an integrated online smart platform that provides end-to-end supply chain solutions, including booking and monitoring transport, warehousing, last-mile, and hyperlocal delivery services for all stakeholders across the cold chain network. The company says it has transported over 100 tonnes of perishables for clients, including Maersk, Jubilant Foods, and Zomato.
JSW One Platforms raises Rs 205 Cr from Mitsui
Sajjan Jindal-led JSW Group's business-to-business ecommerce arm JSW One Platforms on Monday raised Rs 205 crore from Japan's Mitsui & Co.
The Series A funding, which is also the maiden capital raise from an institutional investor by JSW One Platforms, is done at a valuation of Rs 2,750 crore, as per an official statement.
The $22 billion conglomerate had launched the business in July 2021, aiming to leverage its expertise in manufacturing and building materials, tech-enabled logistics, and credit to be a platform of choice for MSMEs and enterprises in India.
It plans to plough in the funds to strengthen its market presence and further enhance tech capabilities, the statement said, adding that it is expanding operations in newer geographies like NCR, Gujarat, Rajasthan, Madhya Pradesh, and Chhattisgarh.
It will also invest in credit, logistics, and technology stack to improve customer experience.
Edited by Suman Singh