Startup news and updates: Daily roundup (September 30, 2024)

Funding news

ThinKuvate closes India fund at Rs 25 Cr

Singapore-based angel investment platform ThinKuvate closed its India fund at Rs 25 crore in the first 100 days of its launch.

The platform plans to invest in 30 – 40 early-stage startups from seed to Series A, with an average investment size of Rs 1.5 crore - Rs 4 crore.

It has already invested in four startups, including Rosh.ai, Zippee, Pantherun, and NymbleUp, the company said in a statement.

LISSUN raises $2.5M in a pre-Series A round

Mental health platform LISSUN raised $2.5 million in a pre-Series A round led by RPSG Capital Ventures, with participation from Multiply Ventures and Atrium Angels, and existing investors Ivycap Ventures, Rainmatter, and Sucseed Ventures.

The startup will use the funds to expand its services, enhance technology, grow its team, and increase its reach. it said in a statement.

LISSUN employs psychologists, special educators, speech therapists, occupational therapists, and behavioural therapists, and collaborates with healthcare, corporate, and educational institutions, delivering integrated solutions to address high-stress challenges like chronic illnesses, exam anxiety, and workplace pressure.

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Digilogic Systems India raises funds led by Negen Capital

Digilogic Systems India, a defence and aerospace testing solutions company, raised undisclosed funds led by Negen Capital.

This investment is set to fuel Digilogic’s growth, and the company plans to utilise the capital to enhance its R&D capabilities and deliver advanced testing solutions to its customers in the defence and aerospace sectors, it said in a statement.

“India’s local defence ecosystem is set for multiple years of expansion ahead. Digilogic has been bootstrapped and grown to this level. We believe Digilogic’s testing solutions for defence and aerospace is a good area for us to be in for the foreseeable future,” said Neil Bahal, Founder of Negen Capital.

Conscious Chemist raises Rs 12 Cr in funding from Atomic Capital

Conscious Chemist has raised Rs 12 crore in funding from Atomic Capital. The brand has appointed Apoorv Gautam, Atomic Capital's Founder and Managing Partner, to its board of directors.

Gautam has previously worked with Guild Capital and is serving as a board member for various brands such as Fitelo, Easebuzz, and Plix. He set up Atomic Capital, an early-stage fund with an operating VC playbook, the company said.

“This is an exciting time for Conscious Chemist as we focus on scaling rapidly and bringing more innovative, science-backed skincare solutions to Indian consumers. Our vision is to transform beauty with products that deliver real results and transformative experiences,” said Robin Gupta, CEO, Conscious Chemist.

The brand sells its products via platforms like Amazon, Nykaa, Myntra, Flipkart, Blinkit, Zepto, and its own D2C website.

Other News

Routes2Roots partners with Tata ClassEdge

Tata ClassEdge (TCE), a subsidiary of Tata Industries, partnered with Deli-based NGO Routes2Roots (R2R) to integrate TCE’s proprietary educational content into R2R’s Interactive Flat Panels in schools where the NGO operates.

The partnership will enhance Routes2Roots digitised classroom through Tata ClassEdge’s features, including 3D animations, gesture-controlled whiteboards, and in-class games, enhancing the learning experience for students, especially in remote and underserved areas across India.

Tata ClassEdge will also equip teachers with tools to deliver interactive and engaging lessons to transform the classroom experience.

Eximius Ventures, WeWork Labs launch The Pre-Seed Playbook

Eximius Ventures partnered with WeWork Labs to launch The Pre-Seed Playbook: A Guide to Raising Pre-Seed Funding in India on Monday. 

The comprehensive resource focuses on pre-seed funding in India and will address the challenges early-stage founders face while securing initial funding to bring their ideas to life. The playbook offers valuable insights into navigating the evolving pre-seed landscape, where smaller cheque sizes, drip capital, and backing unconventional founders have become vital.

“Pre-seed is about more than just capital; it’s about providing founders with the right guidance, networks, and resources to build a solid foundation for their startup. This guide is our effort to support India’s next wave of entrepreneurs and fuel the country’s entrepreneurial ecosystem from the ground up,” said Pearl Agarwal, Founder and Managing Partner of Eximius Ventures.

The playbook will be available as a free eBook on the Eximius Ventures website, with paperback copies distributed at select WeWork locations across India.

Sugar.fit onboards Sachin Tendulkar as brand ambassador and investor

Health-tech startup Sugar.fit onboarded Sachin Tendulkar as its brand ambassador and strategic investor.

As part of this partnership, Sachin Tendulkar will serve as the face of Sugar.fit and represent its overall diabetes management program, the company said in a statement.

“At Sugar.fit, we see the struggles of those battling diabetes every day, and it is our passion to help them regain control of their health. With Sachin by our side, we believe we can inspire more people to take charge of transforming their lives,” said Madan Somasundaram and Shivtosh Kumar, Co-founders, Sugar.fit.

“Sugar.fit is a brand that shares my vision for a fit and healthy India. Their aim to change how people perceive diabetes and help them take preventive or even curative care will certainly help to battle diabetes that affects millions in India and I am truly happy to be part of their mission.  Together with Sugar.fit, I hope to inspire people to make lifestyle changes that can lead to a healthier India,” said Tendulkar.

The healthtech startup seeks to manage and reverse diabetes through consumer-centric data-driven digital health experience.

Vidyut partners with JSW MG Motor India to launch BaaS

Full-stack EV ecosystem startup Vidyut in partnership with JSW MG Motor India launched Battery-as-a-service (BaaS) financing for passenger cars MG Comet EV, MG Windsor EV, and MG ZS EV.

Under the BaaS program, customers will have to pay a minimum rental fee starting at Rs 2.5/km (for MG Comet EV) according to battery usage. This initiative will enable EV owners to pay for the battery on rent, helping them to reduce the running cost by 40% as compared to traditional ICE vehicles, the company said in a statement.

“Since its inception in 2021, Vidyut has made significant strides in pioneering this financing model for commercial applications. And now we are excited to extend that same level of innovation to personal four-wheeler vehicles with JSW MG Motor India. Our goal is to make EV ownership not just accessible but also cost-efficient for everyone, empowering individuals to embrace sustainable mobility without the financial burden that traditionally accompanies it,” said Xitij Kothi, Co-Founder, Vidyut.

Pluckk acquires D2C nutrition brand Upnourish

Digital lifestyle-oriented fresh food brand Pluckk acquired nutrition brand Upnourish for $1.4 million. This is to enable the growth of a new vertical focused on nutrition, the company said in a statement.

Upnourish provides meal replacement products like smoothies, soups and bars, along with personalised nutrition plans.

“We are taking our commitment of providing the best quality fresh food to Pluckk’s customers to the next level by adding a nutrition dimension. We are thrilled to welcome Upnourish into the Pluckk family as this move directly benefits Pluckk customers. Their products have truly transformed the lives of their customers by making it easy to solve on-the-go nutrition needs through their meal replacement smoothies, soups and bars,” said Pratik Gupta, CEO, Pluckk.

“India’s share in the global nutrition category is poised to grow by 6X from 2% to 12% by 2029… Pluckk’s commitment to delivering clean, fresh, high-quality produce, combined with Upnourish’s innovative and convenient nutritional products, positions us to make people leaner, fitter, and bolder,” said Kuonal Lakhapati, Business head and Co-Founder, Upnourish.

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