Startup news and updates: Daily Roundup (July 13, 2023)

Funding News

Women nourishment brand Nutrizoe raises Rs 3 Cr in Bridge round led by Inflection Point Ventures

Nutrizoe, a women’s nourishment brand, has raised Rs 3 crore in a bridge round led by Inflection Point Ventures. The funds will be used for expansion and enhancement of Nutrizoe's Lactobite portfolio, following the completion of clinical trials. The focus will be on further developing the product line to cater to a wider range of needs and preferences, the company said in a statement.

In the works are plans to exports its products to international markets including the United Arab Emirates (UAE). “With growing apprehension around processed foods and lack of clean labels, at Nutrizoe, our vision is to address problems through functional and nutraceutical food as an alternative to medicines," says Richa Pendake, Founder and CEO, Nutrizoe.

Neuron Energy raises Rs 200M funding in a pre-Series A round

EV smart battery manufacturer Neuron Energy has raised Rs 200 million in their pre-Series A Round. The investment was led by Equanimity Investments and the Rajiv Dadlani Group and saw participation from Chona Family Office (Havmor Group) and Kayenne Ventures, alongwith reputed Family Offices and HNI investors as well.

The company plans to use the funds to support key initiatives such as obtaining essential ICAT Certifications and investing in mould development, along with strengthening the workforce by expanding the R&D (research and development) team and hiring CXOs and senior management. The funding will also fuel Neuron’s expansion of Li-Ion smart batteries for EV 2W’s and 3W’s while aiding in the brand’s venture into drone batteries.

"The funds raised will not only enhance our manufacturing capabilities but also bolster our workforce across all levels," says Pratik Kamdar, CEO and Co-founder, Neuron Energy.

Other News

Zetwerk Manufacturing appoints Pulkit Bhandari as its CFO

Zetwerk Manufacturing Businesses has appointed Pulkit Bhandari as the company's Chief Financial Officer (CFO).

Bhandari will anchor the company's initiatives around financial planning and capital allocation besides working along with existing teams to strengthen the company's financial frameworks, the company said in a statement.

Prior to Zetwerk, Bhandari served as the Head of Group Corporate Finance at RPG Enterprises leading the group’s several strategic initiatives. He also worked as an Investment Banker at Deutsche Bank and ICICI Securities, among others, where he has engaged with corporates across sectors while playing a strategic role around Mergers and Acquisitions, Financing and Debt Capital Markets and Private Equity.

"Puklit's profound understanding of the financial ecosystem, combined with his ability to navigate complex scenarios, will strengthen the company's financial performance and support its continued expansion," said Amrit Acharya, Co-founder and CEO, Zetwerk Manufacturing.

PeProp.Money expands reach in Pune, Ahmedabad and Bengaluru

PeProp.Money, a platform that integrates real estate services for developers, consultants, and investors, has said that it has underwritten more than Rs 1,250 crore in Pune, Ahmedabad, and Bengaluru. PeProp.Money provides a full suite of managed real-estate services for developers, consultants, and investors. Its application allows for easy financial transactions and only features verified properties to ensure top-quality offerings.

The company also plans to expand its services and will be offering managed sales outsourcing, construction tech, leasing and project financing.

“We have helped developers connect with over 5,000 investors and sold almost Rs 150 crore inventory in the last three months. We have expanded our services in four more cities and have exclusively signed commercial real estate projects with mid segment developers," said Divaker Bhalla, Founder, PeProp.Money.

Vi Partners With Truecaller to add safety to their customer communication

Telecom service provider Vi has joined hands with Truecaller to make communication with consumers more trusted, safe, and reliable.

As a part of this collaboration, Truecaller, through its Verified Business Caller ID solution, has enabled Vi’s customer service and sales team to deliver a secure and enhanced customer communication experience. Vi customers can instantly recognise authentic calls from Vi through Truecaller’s call indicators such as the green caller id, tamper-proof brand name and logo, a verified business badge, a category tag, and call reason.

“Our Verified Business solution has become integral to the industry's effort to build a more secure and trusted communication environment. Our collaboration with Vi marks a significant step in this direction, helping Vi to strengthen customer interactions and reinforce trust in its services," said Priyam Bose, Global Head, GTM at Truecaller.

DeHaat partners with Global Bio Agri-Input Innovations to drive sustainability for Indian Farmers

Agritech platform DeHaat has entered into a strategic partnership with two unique global biological agri-input innovations – GBI (Global BioAg Innovations) and Aussan Laboratories. DeHaat, with existing tie-ups with over 250 agri companies offering a wide range of over 3000 agri input stock-keeping units (SKUs) has extended its outreach to global IPs for the first time.

The multi-year partnership enables DeHaat to exclusively manage the distribution and sales of six unique formulations patented by GBI and Aussan Labs through its exclusive network of 12,000 DeHaat franchise Centers spanning 110,000 villages across 12 Indian states, offering last-mile access to over 2 million Indian farmers.

The association is aimed at empowering farmers with the right products and information to combat the changing climatic conditions and establish sustainable agricultural practices.

(This article will be updated with the latest news throughout the day.)