homefinance NewsFunding Rundown: Homexchange raises $4 million, Swadesh gets $2.25 million, WonderLend Hubs bags $1.6 million from IPV and IAN

Funding Rundown: Homexchange raises $4 million, Swadesh gets $2.25 million, WonderLend Hubs bags $1.6 million from IPV and IAN

Funding Rundown: Homexchange raises $4 million, Swadesh gets $2.25 million, WonderLend Hubs bags $1.6 million from IPV and IAN
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By Aishwarya Anand  Jul 13, 2022 11:09:11 PM IST (Updated)

Here's a lowdown of the top deals from the startup space.

Homexchange raises $4 million from HDFC Capital and others

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Property technology startup Homexchange has raised $4 million from HDFC Capital, Oberoi Realty, and Anarock Group. The company, which helps consumers upgrade to a new residential property in lieu of their old property, will be using the funds for geographic expansion, develop partnerships, hiring and technology platform.
It has a presence in Mumbai, Thane, and Bengaluru, and has executed transactions of about Rs 120 crore till now, Homexchange said in a statement.
Swadesh gets $2.25 million from Khosla Ventures, Y Combinator, 8VC
Swadesh, a cross-border fintech firm for Indian expats has secured $2.25 million in a Pre-Seed funding round led by Khosla Ventures, 8VC, Y Combinator, and Section32.
The startup will use the fresh capital to scale up customer acquisition and expand its product suite of NRI-focused financial products, including NRE/NRO accounts, it said in a statement.
"Barriers to access for Indians banking in the US include a lack of financial history and antecedents in the United States, unfamiliarity with banking and taxation codes especially in terms of visa or immigration status, and language barriers that can prove exclusionary to Indians.
Through Swadesh, we sidestep those barriers to provide best-in-class banking and support, and take a real interest in the success of our customers through Swadesh Club (our desi networking platform) and product features such as subsidized US SIM cards," said Prateek Swain, founder of Swadesh.
WonderLend Hubs gets $1.6 million from IPV, IAN
WonderLend Hubs, a NoCode PaaS solution provider, has raised $1.6 million in a seed funding round led by Inflection Point Ventures, Indian Angel Network, and others.
The startup intends to utilize the fresh capital for completing its platform as a service transformation, strengthening sales and marketing, and building a delivery excellence framework to be able to grow the business at scale.
The funding will also be directed towards building channel partnerships in India, APAC, North America, and other overseas markets to tap the wider, global opportunity, a statement said.
Fieldproxy gets Rs 6 crore in Pre-Series A round led by Y Combinator
Fieldproxy, a no-code SaaS platform has raised Rs 6 Crores as part of its Pre-Series A round led by Y-Combinator (W22 Batch). Number Capital, Mars Shot Ventures, Kevin Moore, President KRM Interests, and Abheek Basu, CEO Tachyon, also participated in the round.
The funding round was also backed by existing investors LetsVenture, 2am VC, magic.fund, and other marquee angel investors. The company has raised Rs 8.3 crores in funding to date. The fresh capital will be used primarily towards scaling up its go-to-market (GTM) efforts.
"As we ramp up our GTM efforts, Feildproxy is not only aiming to cater to more enterprise customers but also working to scale our ready-made templates library to help businesses get onboarded and build cutting-edge solutions within minutes," said Swaroop Vijayakumar, co-founder and CEO Fieldproxy.
Clensta gets Rs 3 crore from Caspian Impact Investments
Clensta, a personal and home care startup has raised Rs 3 crore as debt from impact investors Caspian. The firm had also raised Rs 20 crore funding from Hem Angels, part of Hem Securities, Venture Catalysts and Inflection Point Ventures in the Series A funding round last year.
"Our aim is to touch 5 crore households with our solutions in 5 years, thereby reaching revenue of Rs 1,000 crore. We are extremely happy to have Caspian on board as our partners in this journey, given their legacy in backing impactful entities.
We are confident that we will be able to use these funds to expand our D2C business while continuing our work towards creating social and environmental impact in a responsible, transparent and sustainable manner,” said Puneet Gupta, founder, Clensta.
Cricketer Smriti Mandhana backs Ayurvedic brand Neem Ayu
Indian Women Cricket team’s vice-captain Smriti Mandhana has invested an undisclosed capital in ayurvedic startup brand Neem Ayu. Mandhana will also be the brand ambassador for the company.
The brand plans to grow its presence in pan India and also develop new product lines which are solution driven and backed by the power of ayurvedic science, it said in a statement. This is the first time that any Indian woman cricketer has invested in a business.
"I travel & compete around the world amidst grueling weather conditions in different time zones, hence when it comes to taking care of my hair, I often find a lack of credible solutions.
What made me immediately trust Neem Ayu’s brand proposition was that its foundation lies in the time-tested efficacy of Indian Ayurveda backed by intensive research. These products promise to show results effectively. I am extremely excited to embark on this partnership,” said Mandhana.
Accel-backed Onsitego invests in DIGI2L
DIGI2L, a digital platform that enables the sale and exchange of used electronics and appliances, has received an undisclosed investment from Onsitego, an after-sales service provider.
The firm will use the funds to expand operations, build brand awareness and scale up its technology platform across India. Accel-backed Onsitego offers an extended warranty, damage protection, AMC Plans, and on-demand repair services for all electronic devices and home appliances.
The investment in DIGI2L will help strengthen the brand’s positioning as a one-stop shop for its customers across the entire device life cycle, a statement said.
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