Navi Finserv Raises Rs 150 Crore via Non-Convertible Debentures

Navi Finserv Raises Rs 150 Crore via Non-Convertible Debentures

Navi Finserv, a non-banking finance company raised Rs 150 crore through NCDs from six investors. The  startup will use this funding amount to enhance its products and improve its technical capabilities and  market expansion. 

The investors who participated in the funding round include Dadachanji Group’s chairman Kairus  Shavak Dadachanji, Rishad Kairus, and Pervin Kairus Dadachanji led the round by Rs 110 crore. Other  investors including Rohit, Sandhya, and Yash Kapadia invested a total amount of Rs 40 crore. NCD acts as an instrument to offer fixed income which helps companies to raise funds without increasing  interest rates. In February the startup announced plans to raise funds of Rs 600 crore through NCD  with tenor of 18, 27, and 36 months. However, due to unfavorable market conditions, they had to  move the plan back.  

ET reported that the funding round for this year’s quarter has been completed. Navi Finserv previously  raised around Rs 950 crore through two tranches in NCDs. The company was aiming for $200 million  to $300 million from private investors with a $2 billion valuation. The startup aims to make financial  services simple, transparent, and accessible to all. This fintech startup uses a technology-driven and  customer-centric approach to launch products in the financial services space. 

The startup is a non-banking finance money lending platform. Navi Finserv has recently approved a  financial decision to increase its capital structure and expand its technical capabilities. This finance based startup is planning to scale up its operations, enhancing its technologies and research centers. The funding round for this year’s quarter has been completed. The startup previously raised around Rs  950 crore through two tranches in NCDs. 

Conclusion: 

A fintech startup, Navi Finserv has raised Rs 150 crore through NCDs from six investors. NCD acts as an instrument to offer fixed income which helps companies to raise funds without increasing interest  rates. The funding round saw participation from its existing investors including Dadachanji Group’s  chairman Kairus Shavak Dadachanji, Rishad Kairus, and Pervin Kairus Dadachanji. They led the round  by Rs 110 crore. The company has delivered consistent service levels, improved profitability, and  completed more than half of the planned long-term capital investments. The funding round for this  year’s quarter has been completed.

Navi Finserv previously raised around Rs 950 crore through two  tranches in NCDs. NCD acts as an instrument to offer fixed income which helps companies to raise  funds without increasing interest rates. In February the startup announced plans to raise funds of Rs  600 crore through NCD with tenor of 18, 27, and 36 months.

They mentioned that with the investment  made, they will try to solidify their position as a leader in the fintech sector. The startup is working to  enhance its platform, scale up its existing segments, and expand in the fintech sector. Fintech startups  lead the list this week with the total funding amount gained by startups in this sector reported to be  $33.1 million across three deals.

Flipkart Raises $950 Million in Funding Round Led by Google

Flipkart Raises $950 Million in Funding Round

Flipkart is a Bangalore-based Walmart-owned Indian e-commerce startup that is receiving an  investment of $350 million from the tech giant, Google. Flipkart closed its funding round at $950  million with Google taking led by $350 million. This funding round made Flipkart’s valuation at $36  billion. Last year, Walmart invested $600 million in this startup.  

A person aware of the situation told Moneycontrol that the capital raised from the primary round would be used to double down on quick commerce rather than investing in verticals like shopping.  Flipkart focus on Shopsy increased after Meesho revealed about $500-$600 million funding round. The  amount of investment is still blurred as Google proposed an investment in Flipkart to buy a minority  stake during the fresh funding round. The investment is mainly aimed at cloud technology. Google  wants to use the cloud technology of Flipkart in its systems to enhance the platform.  

Flipkart is excited about Google’s investment to scale up, boost its business growth, enhance its digital infrastructure, and offer seamless experience to its Indian customers. A report by TOI mentioned  Flipkart said in a statement, that they will be adding Google as a minority investor in fresh funding  rounds. The company mentioned Google’s proposed investment in cloud collaboration to help Flipkart  expand its business and provide advanced infrastructure. The investment will benefit both parties and  will provide a range of innovative services in the future. 

Last year, Flipkart confirmed that Walmart invested $600 million in the startup. This will be part of the $1 billion funding capital that Flipkart is aiming for. US-based Walmart hasinvested a total of $16 billion  in various e-commerce startups in 2018. Some sources reported that Flipkart has raised $350 million  from fresh investments led by Google. However, the e-commerce startup did not disclose the amount  of investment made by Google.  

Conclusion: 

Flipkart is an Indian e-commerce startup that has raised $350 million from the tech giant, Google.  Flipkart closed its funding round at $950 million with Google taking led by $350 million. This funding  round made Flipkart’s valuation at $36 billion. Flipkart is excited about Google’s investment to scale  up, boost its business growth, enhance its digital infrastructure, and offer seamless experience to its  Indian customers. A report by TOI mentioned Flipkart said in a statement, that they will be adding  Google as a minority investor in fresh funding rounds.

Walmart invested $600 million in the startup,  which is part of the $1 billion funding capital that Flipkart is aiming for. The company mentioned  Google’s proposed investment in cloud collaboration to help Flipkart expand its business and provide  advanced infrastructure. The investment is mainly aimed at cloud technology. Google wants to use the  cloud technology of Flipkart in its systems to enhance the platform. The investment will benefit both  parties and will provide a range of innovative services in the future.

Elon Musk’s XAI Eyes $6 Billion Funding Round Led by Silicon Valley Investors

Elon Musk’s XAI Eyes $6 Billion Funding Round

Elon Musk’s xAI is a startup company working on building artificial intelligence to accelerate human  scientific discovery focusing on the mission to advance collective understanding of the universe. This  AI startup is reportedly seeking to raise $6.5 billion in funds and is set to close a fundraising round in  June with a valuation of $18 billion.  

The startup was aiming to get $6 billion in the funding round but is now aiming for $6.5 billion and is  expected to achieve this target in the next few weeks. xAI announced its plan to make Grok open source, which uses the data of X(Twitter). The startup previously raised $6 Billion on a pre-money  valuation of $18 Billion. The investors who participated in the funding round include Lightspeed  Venture Partners, Sequoia Capital, Tribe Capital, and Andreessen Horowitz. Musk intends to gather  training data for xAI from his companies, including X, Neuralink, SpaceX, and Tesla. The startup uses  open-source software for chatbots and its generative Artificial intelligence tools and AI model.  

Musk co-founded Open AI in 2015 with Sam Altman and Greg Brockman but left the board after 4 years  due to some disagreements. The rivalry between the two is publicly known by many as Musk once  sued OpenAI’s CEO for moving from their original “non-profit” goal to “for-profit”. According to the  Financial Times, Musk is seeking to raise funds for xAI close to $6 billion in a funding round led by  Silicon Valley heavyweights and Andreessen Horowitz. This will value the startup at $18 million, the AI  startup raised $19.15 billion in venture capital funds in the first quarter. 

Musk told investors that xAI can compete with market leaders including Google, OpenAI, and  Anthropic by using the data, technology, and business of other companies he works with such as X and  Tesla. The startup is already popular by open-sourcing its AI Chatbot, Grok which uses AI technology  and innovation for its commercial use. The market of AI is in profit these days as many known AI  startups are getting millions of investments lately. The French startup “Hostlilic AI” raised $220 million  for building AGI, while French AI startup Mistral raised $415 million with a valuation of $2 billion.  

Conclusion: 

xAI is an AI startup that is seeking to raise $6.5 billion in funds and is set to close a fundraising round  in June with a valuation of $18 billion. The startup was aiming to get $6 billion in the funding round but is now aiming for $6.5 billion and is expected to achieve this target in the next few weeks. xAI  announced its plan to make Grok open-source, which uses the data of X.

The funding round startup  saw participation from Lightspeed Venture Partners, Sequoia Capital, Tribe Capital, and Andreessen  Horowitz. xAI can compete with market leaders including Google, OpenAI, and Anthropic by using the  data, technology, and business of other companies he works with such as X and Tesla. The startup is  already popular by open-sourcing its AI Chatbot, Grok which uses AI technology and innovation for its  commercial use.

Orca AI Secures $23 Million in Funding Led by OCV Partners and Mizmaa Ventures

Orca AI Secures $23 Million in Funding

Orca AI, an Autonomous shipping startup has raised $23 million in a fresh funding round led by OCV  Partners and Mizmaa Ventures. TechCrunch reports the total raised amount by Orca AI from Series A  and Series B is around $40 million. Orca’s platform uploads all data to the cloud, providing monitoring  tools for individuals to work.  

This startup claims to be the world’s first AI-based commercial ship in Congested waters. Founded in  2018 by Yarden Gross and Dor Raviv, the company offers a platform that processes Multiple sources of  visual information during navigation at sea. This technology helps ships to go on the designated route  without the help of crew to monitor the route. This is helpful during times of emergency and situations like drone attacks.  

Orca AI will use this funding to scale up and expand in other parts across the global market. In addition, the company will also work on creating new products and fetching data while expanding the team. The  startup claims that its technology is very accurate and has reduced close encounters by 33% and  crossing events by 40%. The system designed by this startup can carry over $1000,000 to $300,000 in  fuel savings per vessel each year. Recently, shipping has been under pressure to reduce its carbon  footprint, and amidst this, the startup claims to have achieved a CO2 reduction.  

The technology designed by this startup provides safety and can be optimized and automated,  reducing the workload and amount of people needed. According to a report by Techcrunch, the  Managing Partner of OCV mentioned that Maritime transportation is the most crucial part of  international trade and the global economy. More than 80% of the volume of international trade in  goods is carried by Sea. The planes, and automobile industry is seeing progress and investment  regarding autopilot and collision prevention, but the shipping industry is still behind it and that’s the  reason this startup was made. They focus on autonomous ships and work with global shipping  companies including Maersk, NYK, MSC, and Seaspan. The startup competes with Avikus and Sea  Machines. 

Conclusion: 

Orca AI, a London-based Autonomous shipping startup has raised $23 million in a fresh funding round.  The round saw the participation of many investors and was led by OCV Partners and Mizmaa Ventures. TechCrunch reportsthe total raised amount by Orca AI from Series A and Series B is around $40 million. Orca’s platform uploads all data to the cloud, providing monitoring tools for individuals to work.

Orca  AI will use this funding to scale up and expand in other parts across the global market. In addition, the  company will also work on creating new products and fetching data while expanding the team. The  startup claims that its technology is very accurate and has reduced close encounters by 33% and  crossing events by 40%. The technology designed by this startup provides safety and can be optimized and automated, reducing the workload and amount of people needed.

Portl Secures $3 Million in Funding Round Led by Bharat Innovation Fund

Portl Secures $3 Million in Funding Round

Portl, a digital fitness and wellness startup secured $3 million in a funding round led by the Bharat  Innovation Fund. The round also saw participation from other existing investors, Kalaari Capital, and  new investor T-Hub Foundation. Kalaari Capital also invested in the 2021 seed funding round. This  Hyderabad-based startup will use the fun to scale up operation, product development, enhancing its  Artificial intelligence system, and Market expansion. 

The startup was founded by Indraneel Gupta, Armaan Kandhari, and Vishal Chandapeta to provide a  platform with customized fitness routines for an individual. The digital platform, Portl Studio uses  Artificial intelligence to provide users with personalized wellness and fitness experiences. The smart  mirror offered by the company comes with a 43-inch 4K Screen with embedded bio-sensors, edge AI  processing with Wi-fi, HD cameras, and Bluetooth connectivity. This helps users to get real-time health monitoring and routines according to their capability.  

Portl is planning to broaden its product range and design stronger technology for users of all fitness  levels. The startup aims to expand its business across India and globally. The company aims to make  health and fitness accessible to everyone regardless of where they are. The startup used advanced AI,  edge AI, and innovative hardware for its technology. The Co-founder of Portl told inc42, that the  startup aims to empower individuals to achieve their wellness goals effectively and easily. The startup  delivers personalized and affordable technology to help users adopt healthier lifestyles.  

The co-founder of Bharat Innovation Fund, Ashwin Raguraman showed their excitement in this  investment. The investors believe that Port’s home fitness segment with high-quality trainers and  personalized training routines has the potential to become the second mirror and third screen in  everyone’s house in the near future. The startup will use the fund to enhance product development  and expand in the market. The Portl Studio is like a Smart Home Gym with an in-built Personal Trainer.  Supports multiple users on a single device with real-time form correction. 

Conclusion: 

Portl is a digital fitness and wellness startup that secured $3 million in a funding round led by the  Bharat Innovation Fund. The round also saw participation from other existing investors, Kalaari Capital, and new investor T-Hub Foundation. The startup was founded to provide a platform with customized  fitness routinesfor an individual. The digital platform, Portl Studio uses Artificial intelligence to provide  users with personalized wellness and fitness experiences. The startup aims to make health and fitness 

accessible to everyone and expand its business globally. The startup used advanced AI, edge AI, and  innovative hardware for its technology. The smart mirror offered by the company comes with a 43- inch 4K Screen with embedded bio-sensors, edge AI processing with Wi-fi, HD cameras, and Bluetooth connectivity. This helps users to get real-time health monitoring and routines according to their  capability. The investment will support the startup’s growth plans and further development of its  innovative fitness solutions.

Blusmart Mobility Secures $24 Million in Pre-Series B Round from Existing Investors

Blusmart Mobility Secures $24 Million in Pre-Series B Round

BluSmart Mobility, a Dehi-NCR-based EV startup is raising a $24 million fund in a pre-series B round from its existing investors. The startup offers an EV service and EV charging stations. The equity or pre series B round is expected to see participation from BP Ventures, 9Unicorns, JITO Angel Network,  Survam Partners, Green Frontier Capital, Stride Ventures, and more.  

According to a report by Entrackr, existing investors will be participating in the funding round. The  company’s filing also mentioned the requirement of heavy capital to meet corporate requirements.  The startup previously raised $42 million from its existing investors in May, followed by an additional  $24 million in December and $25 million in January this year. 

The regulatory filing of the company mentioned that the board passed a special resolution to issue  10,92,890 pre-series B preference shares at issue prices of Rs 1,840 each to raise Rs 200 crore. They’ll  use the money to make their platform stronger and reach more people around the world. The amount  raised during this round will be used to build EV solutions for the team expansion, scaling up operations  to increase the performance capability of the platform. 

Founded in 2019 by Puneet Jaggi, Anmol, and Punit Goyal, the startup follows the on-demand model  as it offers a scheduled pick-up and drop-off time. It claims to operate over 4,400 Electric vehicle chargers across 36 Electric Vehicle charging hubs. The Co-Founder of BluSmart Mobility, Punit Goyal  said that the startup recorded an increase in revenue as it went to Rs 390 crore in FY24 from Rs 160  crore in FY23. They’ll close their pre-series B funding round next month. BluSmart Mobility reported  a 144% increase in its revenue as compared to FY23. Inc42 mentioned that the company has provided  more than 10 million rides and 330 million km of travel to date. 

Conclusion: 

BluSmart is an EV startup, raising a $24 million fund in a pre-series B round from its existing investors. The company’s regulatory filing reported that to raise Rs 200 crore the board passed a special  resolution to issue 10,92,890 pre-series B preference shares at issue prices of Rs 1,840 each. Investors  who are likely to participate in the funding round include BP Ventures, 9Unicorns, JITO Angel Network,  Survam Partners, Green Frontier Capital, Stride Ventures, and more. BluSmart follows the on-demand  model as it offers a scheduled pick-up and drop time.

The startup has a 144% increase in its revenue  as compared to FY23 and is said to be closing its equity round by the end of June. The startup claims  to operate over 4,400 Electric vehicle chargers across 36 Electric Vehicle charging hubs. The electric  vehicle market is growing gradually across the Country as consumers are becoming increasingly  conscious about the environment. Delhi NCR is the largest market in India 24% of India’s mobility.

FreshLeaf Secures Rs 1 Crore in Seed Round Led by IPV

FreshLeaf Secures Rs 1 Crore in Seed Round

Freshleaf is a tea brand startup that has raised Rs 1 Crore in a Seed fund round led by IPV. The startup  offers high-quality tea that enriches the tea-drinking experience of modern consumers. The startup  will use Rs 1 crore to scale up operations, expand marketing efforts, develop new products, and  enhance research. 

The investment will help the startup to expand in the market and offer high-quality products to its  consumers. The startup is working on creating more innovative Flavors and products to strengthen its  brand presence. The startup was founded by Balkirat Singh, who has expertise as a CA, and Muneet  Arora, with a strong design background. They both are the CEO and CMO of Freshleaf respectively,  and have experience in overseas marketing, product development, and strategic financial sales,  strengthing the market position of this startup.  

Vikram Ramasubramanian, partner, IPV highlighted that the commitment of IPV aligns with Freshleaf  perfectly. IPV supports innovative businesses that prioritize health and quality and Freshleaf uses a  unique approach to combine health benefits. This is one of the reasons IPV invested a huge sum of  money in this startup. The investors believe in the potential of Freshleaf’s dedication to fostering  wellness, health, and taste. Freshleaf aims to make the tea experience modern and enjoyable for  everyone.  

The startup has built a strong offline presence with more than 550 stores across 40 cities in India. The  startup provides health with taste in different products such as vitamins, electrolytes, and Tea. They  offer innovative flavors in both traditional and sparkling tea according to preferences. The CEO of  Freshleaf mentioned the commitment of the startup is to transform the global tea experience.  Freshleaf believes that the investment made by IPV will help them develop further. Muneet added that  the startup is pushing boundaries with unique blends to provide exceptional taste and experience to  its consumers.  

Conclusion: 

Freshleaf, a tea startup has raised Rs 1 Crore in a Seed fund round led by IPV. This company offers high quality tea that enriches the tea-drinking experience of modern consumers. The startup is working on  creating more innovative Flavors and products to strengthen its brand presence. The startup provides  a perfect mix of health and taste in different products such as vitamins, electrolytes, and Tea. They  offer innovative flavors in both traditional and sparkling tea according to preferences.

The CEO of  Freshleaf mentioned the commitment of the startup is to transform the global tea experience.  Freshleaf said that the funds will be used to expand marketing efforts, increase production capacity,  and enhance research and development for new products. IPV supports innovative businesses that  prioritize health and quality, and they use a unique approach to combine health benefits. The  startup offers high-quality tea that enriches the tea-drinking experience of modern consumers.

DeepL Secures $300 Million Funding at a $2 Billion Valuation

DeepL Secures $300 Million Funding at a $2 Billion Valuation

DeepL is an AI-powered translation startup that has raised $300 million in a round led by Index  Ventures. This German-based startup had a valuation of $2 billion. This investment of $300 million  highlights the increasing interest of investors in function-specific AI models. The round had  participation from Iconiq Growth and Venture Growth. DeepL claims to be the world’s best and most  accurate translation platform. 

This startup was founded by Jarek Kutyolowski in 2017 to offer a platform by enhancing a proprietary generative AI model, training, and designing it to bring a new level of accuracy and idiomatic  comprehension to business translations. The CEO of DeepL is using this specialized model approach toward business translation. He pointed out how the difference between a regular translation and a  translation while contacting the mails of a customer is different, and that is where DeepL comes into  play. The architecture of data powering and the neural network tool the platform uses enables an  individual to access via the web, app, etc. to provide a more accurate translation.  

According to a report by WSJ, the startup has over 100,000 customers across business, government, and other organizations. DeeL has clients including Tokyo-based media company Nikkei, online course  provider Coursera, Deutsche Bahn, and Zendesk. DeepL has scaled up its employees in the past year  and currently has over 900 employees working with them.  

The startup has branches in Germany, the Netherlands, Japan, and Poland. The UK and the US. The  investment will be used to further expand into the United States, Asia, and Latin America region. The  investors showed their trust in the company’s potential and added that the vertical and foundational  model of the startup will be very helpful for several things. DeepL is preferred in business due to it having higher-quality translations, along with options to choose between formal and informal tones.  The platform provides the most accurate and natural-sounding translations. 

Conclusion: 

DeepL, an AI-powered translation startup has raised $300 million in a round led by Index Ventures,  Iconiq Growth, and Venture Growth. This German-based startup had a valuation of $2 billion. This  investment of $300 million highlights the increasing interest of investorsin function-specific AI models. DeepL is preferred in business due to its higher-quality translations and options to choose between  formal and informal tones. The platform provides the most accurate and natural-sounding translations. 

The funding raised will be used to scale up operations and enhance its technology. The startup has  branches in Germany, the Netherlands, Japan, and Poland. The UK and the US. The investment will be  used to further expand into the United States, Asia, and Latin America region. This startup was founded  by Jarek Kutyolowski in 2017 to offer a platform by enhancing a proprietary generative AI model,  training, and designing it to bring a new level of accuracy and idiomatic comprehension to business  translations. DeepL claims to be the world’s best and most accurate translation platform.

WOW Skin Science to Raise $75 Million to Fuel Expansion

WOW Skin Science to Raise $75 Million

WOW Skin Science a Bengaluru-based beauty and personal care brand, is looking to raise $75 million  in fresh capital from its new and existing investors. Mint reported that the company is planning to  secure funding for a new round from Middle East and Japanese funds. The startup will raise capital at  a flat valuation. 

Inc42 mentioned that the startup has already appointed an investment bank Investec for fundraising rounds while KPMG is the consulting firm to conduct vendor due diligence. This Bengaluru-based D2C  Skincare startup is planning to use the fund to expand in the global market and scale up its services to  meet customer needs accordingly. The startup faces competition with known brands including Plum,  Honasam the Ayurveda Co, and more. The startup aims to offer toxin-free products with natural  ingredients to its users. 

The existing investors of the Brand include Inconiq and Chryscapital. ChrysCapital previously had a 35%  stake in this Bengaluru-based startup for about $50 million with a valuation of $125 million. WOW Skin  Science, posted a revenue growth of about 40-50% in FY24. The increasing revenue got investors  interested in the brand as the funding nears. Rising disposable incomes, and the expansion of quick  commerce and omnichannel approaches, helped the startup in this growth. WOW Skin Science is a  beauty and personal care D2C startup that aims to use natural ingredients in beauty products to  provide toxin-free products. The investors showed support and confidence in the immense potential  of the startup’s solutions. 

The startup can feel a sense of relief and confidence as the investment as the previous investments highlight the confidence of investors in the startup’s vision and potential. The brand offers around  40,000 shops across its four brands. WOW Skin Science is planning to use the funding amount for market  expansion. The startup offers its products globally in some regions including the US, the European  Union, and the Middle East. This continuous growth of the D2C beauty sector is helping the startup to  get a boost in fundraising. This beauty startup will be using the fund to scale up operations and  enhance its technology. 

Conclusion: 

WOW Skin Science, a beauty and personal care brand will be raising $75 million in fresh capital. The company is planning to secure funding for a new round from Middle East and Japanese funds. The  startup will raise capital at a flat valuation. This Bengaluru-based D2C Skincare startup is planning to  use the fund to expand in the global market and scale up its services to meet customer needs accordingly. The startup faces competition with known brands including Plum, Honasam the Ayurveda  Co, and more.

The brand provides various e-commerce platforms including a website, physical retail  shops, and an app to connect with its customers. The brand offers around 40,000 shops across its four  brands. The startup sells skincare, hair, nutritional, bath & body products. The startup is planning to  use the funding amount for market expansion. This D2C startup is known for offering the best quality products.

NoPo Nanotechnologies Secures $3 Million in Pre-Series A Funding Round

NoPo Nanotechnologies Secures $3 Million

Nopo Nanotechnologies is a Bengaluru-based startup that has secured a $3 million fund in its pre series A funding round. The round was co-led by Inflexor ventures and deep tech funds Axilor’s Micelio  Fund. The funding round also had participation from other investors including Aureolis and other angel  investors. 

The startup will use this funding amount to enhance its products and improve its technical &  engineering capabilities and market expansion. According to a report by Entrackr, the company is using  the fund to expand its production capacity to service global battery manufacturers and develop it  further to target electric and semiconductor customers. Nopo Nanotechnologies was founded by  Gadhar Reddy and Kelly Brasely to offer high-quality single-walled carbon Nanotubes. The two  founders have been working on building the technology over the past years. Single-walled Carbon  Nanotubes are materials that are used in various applications including EV batteries, the material can  improve energy density usage of the applications.  

This Bengaluru-based startup has been manufacturing the material for five years and is now targeting the global market. Nopo Nanotechnologies is aiming to expand its capacity for global customers  working in advanced electronics and high energy density batteries. Nopo Nanotechnologies claimed  to be the only startup across the country to have developed the technology to produce Single-walled  Carbon Nanotubes. The startup is one of the few across the globe to have developed this technology.  

The founder and CEO of Nopo Nanotechnologies, Gadadhar Reddy highlighted that 100+ applicants  across the globe are being developed and are using Single-walled Carbon Nanotubes. The technology  is getting used from desalination to cancer treatment. The startup will move forward to develop  material and act as a pioneer in driving the development of this material with the help of Micelio and  Inflexor. The startup will use this funding amount to expand its production capacity and scale up  operations to meet global demand. 

Conclusion: 

Nopo Nanotechnologies is a Bengaluru-based startup that has secured a $3 million fund in its pre series A funding round co-led by Inflexor ventures and deep tech funds Axilor’s Micelio Fund. The  funding round also had participation from other investors including Aureolis and other angel investors. Nopo Nanotechnologies was founded by Gadhar Reddy and Kelly Brasely to offer high-quality single walled carbon Nanotubes. The two founders have been working on building the technology over the  past years. Single-walled Carbon Nanotubes are materials that are used in various applications  including EV batteries, the material can improve energy density usage of the applications.

This  Bengaluru-based startup has been manufacturing the material for five years and is now targeting the  global market. Nopo Nanotechnologies is aiming to expand its capacity for global customers working  in advanced electronics and high energy density batteries. The startup will move forward to develop material and act as a pioneer in driving the development of this material with the help of Micelio and  Inflexor. The startup will use this funding amount to expand its production capacity and scale up  operations to meet global demand.

Awfis Space Solutions Secures Rs 268.6 Crore from Anchor Investors Ahead of IPO

Awfis Space Solutions Secures Rs 268.6 Crore

Awfis, a co-working space provider has raised Rs 268.6 crore fund ahead of Initial Public Offering. The  company raised this amount from 32 anchor investors at an upper price of Rs 383 per equity share.  The funding round also had participation from Goldman Sachs, HDFC Mutual Fund, EastBridge Capital  Master fund, ICICI Prudential Mutual funds, Aditya Birla Sun Life Insurance Company, and More.  

The startup mentioned in a regulatory filing with bourses that the IPO committee has finalized the  allocation of 70,13,483 equity shares to anchor investors at Rs 383 per share. According to the startup,  via 19 schemes the company allocated 53.53% shares to 12 domestic mutual funds. The startup is  expecting to raise up to Rs 599 crore at the highest band through its public issue which will be open  from 22 May till 27 May. 

The startup has fresh insurance of Rs 128 crore worth of shares and an offer for the sale component  of Rs 1.2 crore per share. Peak XV partners will offload the biggest shares at Rs 6.6 million and Bisque  Limited will sell 5.5 million shares via the Offer For sale. The startup is dividing 75% of the net offer  for QIBs while the remaining 25% is for non-institutional bidders and retail investors with 15% and 10%  respectively. Earlier this year, after filing a DRHP with the Securities and Exchange Board of India in  December the company got approval from market regulators. 

Awfis was founded by Amit Ramani in 2015 to provide solutions to freelancers, SMEs, startups, MNCs, and large corporates through its tech-enables workspace platform. The net operating revenue for the  startup stood out at Rs 616.5 crore in FY24, while net loss went to Rs 8.9 crore in FY24 from Rs 46.6  crore in FY23. The startup is looking to raise Rs 599 crore at the upper end of the price. Awfis offers a wide range of workspace solutions to fulfill the needs of individuals. 

Conclusion: 

Awfis, a co-working space provider has raised Rs 268.6 crore fund ahead of Initial Public Offering from  32 angel investors. The funding round also had participation from Goldman Sachs, HDFC Mutual Fund,  EastBridge Capital Master fund, ICICI Prudential Mutual funds, Aditya Birla Sun Life Insurance  Company, and More. via 19 schemes the company allocated 53.53% shares to 12 domestic mutual  funds. The startup is expecting to raise up to Rs 599 crore at the highest band through its public issue  which will be open from 22 May till 27 May.

The startup has fresh insurance of Rs 128 crore worth of  shares and an offer for the sale component of Rs 1.2 crore per share. Peak XV partners will offload the  biggest shares at Rs 6.6 million and Bisque Limited will sell 5.5 million shares via the Offer For sale. Awfis offers a wide range of workspace solutions to fulfill the needs of individuals, SMEs, startups,  MCs, and more.

AI-Driven Fashion Startup Laws of Motion Raised $5 Million in a Seed Funding Round

AI-Driven Fashion Startup Laws of Motion Raised $5 Million in a Seed Funding Round

Laws of Motion, a New York-based fashion startup has raised $5 million in its seed funding round. The  funding round saw participation from Sequoia Capital’s The Scout Program, Corazon Capital,  California’s Leadout Capital, and angel investors. Other investors include entrepreneurs in the  consumer tech and fashion industry such as Raine Group’s John Howard and Eva Jenabart-Lorenzotti. 

The startup has raised a total of $6.5 million till now. The CEO and founder of this startup, Carly Bigi is  a former Deloitte executive. Carly mentioned that the company uses AI sizing technology that was initially built in an apparel brand, for apparel brands but now the solution is available for other brands  who are willing to give their customers a better experience.

Laws of Motion was founded in 2019 by Carly Bigi as a DTC platform, the startup has developed AI tools that use a one-minute scan of a person  and a quiz to identify perfect sizes for women’s apparel. The AI tools used by this platform offer more  than hundreds of personalized sizes and up to 16 shapes per size.  

The startup is planning to use the funding to get into a new line of business, scale up operations,  enhance its technology, and support expansion into new markets. The SaaS offering will provide brands with real-time access to dashboards to measure conversion rate, size sampling, and return rate. The  managing director of Corazon Capital highlighted their trust in the startup’s potential as the startup  had a technology that worked and resulted in lower returns. The startup will continue to move forward  and invest in DTC fashion brands and an R&D incubator. The Laws of Motion recently launched its  bridal collection and plans more that are shape and size-inclusive. 

Laws of Motion provides high-quality womenswear using its AI-driven technology that virtually predicts  body measurements with 99 percent accuracy. The startup uses its technology to offer its customers a  better online shopping experience by helping them with fits of their sizes, leading to low return rates. While the sector has faced a lower return with $1 Trillion globally, the Laws of Motion only had a return rate of less than 1%. The startup will be soon introducing new features of its AI-driven technology.

Conclusion: 

Laws of Motion is a New York-based fashion startup that has raised $5 million in its seed funding round. The funding round saw participation from Sequoia Capital’s The Scout Program, Corazon Capital,  California’s Leadout Capital, and angel investors. Other investors include entrepreneurs in the  consumer tech and fashion industry such as Raine Group’s John Howard and Eva Jenabart-Lorenzotti.

The startup uses AIsizing technology that was initially built in an apparel brand, for apparel brands but now the solution is available for other brands who are willing to give their customers a better  experience. The startup is planning to use the funding to get into a new line of business, scale up  operations, enhance its technology, and support expansion into new markets. The SaaS offering will  provide brands with real-time access to dashboards to measure conversion rate, size sampling, and  return rate.