[Funding roundup] Dwija Foods, Webnyay and Razor Club raise early-stage deals

YourStory presents daily funding roundups from the Indian startup ecosystem and beyond. Here's the roundup for Monday, August 22, 2022.

[Funding roundup] Dwija Foods, Webnyay and Razor Club raise early-stage deals

Monday August 22, 2022,

4 min Read

Negen Capital AIF invests Rs 5.15Cr in Mumbai-based Dwija Foods

Mumbai-based B2B beverage vending company Dwija Foods has announced its maiden institutional fund-raise worth Rs 5.15 crore led by Negen Capital AIF. Indorient Financial Services are the advisors to this fundraise.

Established in January 2020 and founded by Dibakar Chatterjee, Jayati Chatterjee, and Shailesh Pardeshi, Dwija provides tech-enabled brewing focussed on delivering a wide range of choices in tea, coffee and adjacent beverages to enterprises through their brand ‘XTC’. The company prides itself on servicing corporates and HoReCa across the country through direct and distributor channels.

Dwija sources its own tea and coffee and has curated a variety of in-house blends to provide customers with the experience of having a homemade beverage at the workplace.

Webnyay raises undisclosed sum led by Inflection Point Ventures

Online dispute resolution and grievance redressal platform Webnyay has raised an undisclosed amount in its seed round led by Inflection Point Ventures, with participation from SucSEED Indovation Fund. The funds raised will be used to scale up the products, and build AI, machine learning, and NLP capabilities, among others.

The startup was founded in 2020 by Vishwam Jindal, who brings in over nine years of experience in dispute resolution, public policy, white collar investigations, and sanctions work, along with Ishita Jindal with over six years of work experience in product design and management.

Webnyay has developed an easy-to-use technology system for grievance redressal and dispute resolution. The startup has proprietary technology allows users to draft legal documents for arbitration without an advocate or external legal help. It is available in multiple languages and has been used to resolve grievances and disputes in numerous sectors including media and entertainment, banking and fintech, healthcare, and ecommerce.

Consumer and wellness startup Razor Club raises $100K from ah! Ventures Angel Platform and others

Chennai-based consumer and wellness startup Cutis Consumer Pvt Ltd, which operates Razor Club and Pro Nutrine, has raised $100,000 in angel funding from ah! Ventures Angel Platform and other angel investors.

According to Navarun Bhattacharjee, CEO and Founder of Cutis Consumer, the funds will be allocated towards marketing, creating content, new product offerings, building the distribution processes (offline - modern trade and online) and on boarding new talent to optimize the team for its future goals.

Cutis Consumer is currently operating in Bengaluru, Mumbai, Rest of Maharashtra, and recently in some parts of North India offering personal care products.

The brand looks to be present in modern trade, pharmacy chains and retail chains in select cities and in online marketplaces like Amazon, Flipkart, 1mg, Pharmeasy, and others.

Influencer marketing platform Freeskout raises Rs 4 Cr in seed round

Freeskout, a matchmaker between brands and social media influencers, has announced raising Rs 4 crore in a seed round of funding. The investors' names are undisclosed by the company. 

The startup aims at eliminating the middlemen so that influencer marketing is easy and effective. It is a team of 250 experts who are handling influencer marketing campaigns for more than 1,000 brands with a database of more than 10 lakh influencers on Instagram and YouTube across India. 

The firm claims that its growth rate from the last financial year to this is 10x and in two years it targets to do a MRR of Rs 20 crore (at Rs 1.5 crore currently).

Magma raises $515,000 led by WEH Ventures

Cross border B2B manufacturing and supply chain enablement platform for building materials, Magma, has raised pre-seed funding of $515,000 led by WEH Ventures, with participation from All in Capital, PointOne Capital, Angelist India, and marquee angels, including Revant Bhate (Man Matters), Subin Mitra and Pratik Tiwari (Groyyo), Pawan Gupta and Abhishek Sharma (Fashinza), and more. 

The startup will use the funds to scale the team across manufacturing clusters in India and invest in its product and technology. 

Founded in February 2022 by Neal Thakker, Magma is a global supply-first aggregator in the building materials industry with a mission to take small and micro manufacturers global.

The company’s product includes a factory app that helps partner factories by giving them more demand through its AI-based lead generation tool, access to global buyers, one-click procurement of cheaper and quality raw materials leading to better conversion and retention, and easy-to-use technology to standardise their factory floors.

Magma has already onboarded over 55 factories and is set to close its first quarter of business with an annualised GMV run rate of $3 million.

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

Edited by Affirunisa Kankudti