[Funding roundup] Spendflo, Zeeve, Newtrace, Terra.do, IST Hard Seltzer raise funds

YourStory presents daily funding roundups from the Indian startup ecosystem and beyond. Here's the roundup for Tuesday, June 14, 2022.

[Funding roundup] Spendflo, Zeeve, Newtrace, Terra.do, IST Hard Seltzer raise funds

Tuesday June 14, 2022,

3 min Read

SaaS buying platform Spendflo raises $4.4M from Accel, Together Fund

Software-as-a-Service (SaaS) buying platform Spendflo has raised $4.4 million in seed funding from Accel and Together Fund. The round also saw participation from investors such as BoldCap and Signal Peak Ventures apart from founders and operators at companies like Airbase, Zuora, Ivanti, CleverTap, Slintel, LambdaTest, Haptik, Wingify and others.

Targeted at CFO and finance leaders to procure SaaS product and manage and save on expenses, the company will utilise the capital to hire people and to fund its go-to-market efforts.


Founded in 2021 by Siddharth Sridharan, Ajay Vardhan, and Rajiv Ramanan, Spendflo has global customers. The platform helps companies centralise their SaaS contracts, gain visibility on spending, monitor usage, and provide assisted purchase. 

Blockchain infrastructure company Zeeve raises seed round 

California, US-headquartered blockchain infrastructure automation platform Zeeve has announced raising $2.65 million in seed round from Leo Capital India and Blu Ventures. The company will utilise the capital for product development, growing technology team, and to enhance its reach among decentralised application developers and global corporations.

Founded in 2021 by Dr Ravi Chamria, Ghan Vashistha, and Sankalp Sharma, Zeeve’s solution makes it easier for enterprises to deploy blockchain nodes and decentralised apps on enterprise-grade infrastructure using its no-code platform. The solution supports major public blockchain protocols including bitcoin, Ethereum, Polygon, Binance Smart Chain, Tron, Avalanche, Fantom and others, apart from permissioned blockchain protocols including Hyperledger Fabric, R3 Corda, Fluree and Hyperledger Sawtooth.

Cleantech startup Newtrace raises pre-Seed round from Speciale Invest and Micelio Fund

Bengaluru-based cleantech company NewTrace has announced raising $1 million in a pre-seed round from Speciale Investand Micelio Fund. The round also saw participation from angel investors. The startup will utilise the funds to scale up technology and build large scale electrolyzers to accelerate decarbonisation of industries such as petrochemical, ammonia, mobility, energy, and steel.


Founded in 2021 by Prasanta Sarkar and Rochan Sinha, Newtrace develops electrolyzers to produce affordable and green Hydrogen at scale helping various industries with their decarbonisation efforts. It also offers an electrolyzer management system to integrate the data from the plant’s equipment onto a single platform. By 2025, Newtrace plans to build a large scale electrolyzer of 1MW capacity. 

Terra.do raises seed round led by Avaana Capital

Global climate career platform Terra.do has announced raising $5 million in a seed round led by Avaana Capital. The round also saw participation from SIG, the TELUS Pollinator Fund for Good, Precursor, BEENEXT, City Light, Hummingbird Firm and Avesta. The round also included participation from community-driven syndicates, entrepreneurs, angel investors and Terra.do alumni including farmers running Terra.do Climate Farm School, and others. 

Founded in 2020 by Anshuman Bapna, Dr Kamal Kapadia and Mayank Jain, Terra.do offers immersive cohort-based climate learning programs across nearly 25 countries. It plans on getting 100 million people to work in the climate sector by 2030. 

IST Hard Seltzer raises seed funding from Indian Angel Network

Pune-based alcobev company Vybe Brands which owns IST Hard Seltzer brand has raised Rs 3 crore from Indian Angel Network (IAN). The round was led by Vishnuraj Kunjur and Ajay Upadhyaya. The startup will utilise the funds to increase workforce and strengthen marketing efforts, it said in a statement.

Founded in November 2020 by Kunal Shah and Krupa Shah, IST Hard Seltzer is available in Goa across 100 retail outlets and will be expanding its presence in India and globally. The brand claims 5 percent ABV (Alcohol By Volume) and is low on sugar. 

Edited by Megha Reddy