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Funding Rundown: GreyOrange gets $110mn from Peter Thiel’s Mithril Capital; Inflection raises $5 mn; SuperBottoms raises $3 mn; Lenskart invests $2.25 mn in GeoIQ & Velocity Global raises $400 mn

Funding Rundown: GreyOrange gets $110mn from Peter Thiel’s Mithril Capital; Inflection raises $5 mn; SuperBottoms raises $3 mn; Lenskart invests $2.25 mn in GeoIQ & Velocity Global raises $400 mn

Funding Rundown: GreyOrange gets $110mn from Peter Thiel’s Mithril Capital; Inflection raises $5 mn; SuperBottoms raises $3 mn; Lenskart invests $2.25 mn in GeoIQ & Velocity Global raises $400 mn
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By Aishwarya Anand  May 19, 2022 11:04:25 PM IST (Updated)

Funding Rundown brings you news of all the best deals struck in the startup space.

Here’s the lowdown of the top deals from the startup space.

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Warehouse robotics firm GreyOrange gets $110 million from Peter Thiel’s Mithril Capital, others
Warehouse robotics and automation company GreyOrange has raised $110 million from Peter Thiel’s Mithril Capital and other existing and new investors.
The company also secured investment in a separate debt financing by BlackRock.
The firm will use the funds to drive its global growth and extend market dominance. It will further expand global customer installations and accelerate deployment of industry-defining software platform, it said in a statement.
The company will also use a portion of debt financing towards hiring, as it looks to add another 300 jobs across sales, marketing, product, engineering and customer success teams, it added.
GreyOrange provides software and hardware that automates multiple functions in warehouses for companies such as Walmart, H&M, COS, Coupang and GXO Logistics.
Marketing automation solution startup Inflection gets $5 million in seed funding, a B2B marketing automation solution firm, has received $5 million in its seed funding round led by MHS Capital. The round also saw participation from Version One, Cercano Management.
Angel investors including Matt Heinz (CRO Amplitude, SVP Sales Marketo), Edward Unthank (CEO Etumos), Justin Gray (CEO LeadMD), Adam Schoenfeld (CEO Simply Measured, VP Strategy Drift), and Ray Carroll (VP Sales Marketo, VP Sales Engagio), among others, also invested.
The company claims to have expanded exponentially in the past year since its inception and has over 750 members in its marketing community so far. The funds will be used for recruiting and scaling to over 10 open job roles in India and establishing an expanded team across the US and Indian markets, it said.
SuperBottoms raises $3 million from Saama Capital, DSG, and Venture Catalysts
SuperBottoms, a D2C brand for baby-care products, has raised $3 million in Series A1 round from Saama Capital, DSG Consumer Partners, and Venture Catalysts.
The funds will be utilised for building a robust senior team that can expand the company’s reach to increase their base of loyalist consumers, a statement said.
“We have been doubling every year until now — thanks to a very strong product, solid customer support, and an immensely loyal customer community of 1 lakh+ parents whom we are always grateful to. Going ahead, we wish to further strengthen our leadership position with strategic hires at key levels, who can take the brand to newer regional markets and expand in offline channels as well,” said Pallavi Utagi, Founder and CEO, SuperBottoms.
Lenskart and others invest $2.25 mn in location AI firm GeoIQ
Hyperlocal performance prediction company GeoIQ has raised $2.25 million from Lenskart. Existing investors 9Unicorns and Ecosystem Ventures, also invested in the company.
The fresh capital will allow the location AI company to expand into international geographies, strengthen its proprietary data stack and leverage communities of data scientists to build diverse AI models. business growth, it said in a statement.
“One of the most interesting usecases of this intelligence is in top-of-the-funnel user-segmentation,” said Devashish, CEO, GeoIQ. “Just an address is helping our customers in fintech and insurance get behavioral indicators for 100 percent of their users."
SustVest bags $160,000 from angel investors to launch a sustainable investment platform
SustVest, a sustainable investment platform, has raised $160,000 in a funding round led by angel investors including Paurush Sonkar, Founder & CEO, Stallions Capital, and Balaji Vaidyanathan, and Sandeep Shetty — seasoned early-stage investors.
The firm will use the funds for product development, marketing and enhancing the brand in the market which will further allow the brand to provide the best in class sustainable platform in the Indian region, a statement said.
“We have a robust expansion strategy in the pipeline and this investment will play a prominent role to make green investing affordable and accessible. In the next 6 months, we aim to onboard over 5000 Investors and have over Rs 10 crore in Assets Under Management. We will be introducing new assets like greenhouses, small hydro and wind projects as we move,” said Hardik Bhatia, Co-Founder, SustVest.
IAN leads Rs 3.85 crore investment round in QwikSkills
Cloud certification and skilling platform QwikSkills has raised Rs 3.85 crore in funding round led by Indian Angel Network (IAN) along with other investors. The funding was led by angel investors Manish Sinha and Naveen Gupta of IAN.
"The cloud-based learning and certification digital platform aims to utilise the freshly infused capital to expand its footprint in business-to-business (B2B) enterprises and business-to-business-to-consumer (B2B2C) segment with universities and colleges," the company said.
It plans to use the investment funds to enhance its workforce and hire a team of cloud experts, developers, sales and marketing teams for B2B and corporate sales, with a vision of acquiring a major percentage of B2B markets.
Velocity Global raises $400 million in Series B at a multibillion dollar valuation
Velocity Global, a startup aiming to ease the process of hiring remote and international workers, has raised $400 million in a Series B round led by investment firms Norwest Venture Partners and Eldridge Industries.
The round has boosted the company’s valuation seven-fold since the same time last year, Velocity Global said.
Velocity Global claim to have more than doubled its client roster over the past year, tripled the number of new supported talent on its platform, and said it will reach an annual net revenue run rate of $200 million by midyear as it continues to scale rapidly.
The firm will use the funds to continue enhancing the customer experience for both businesses and talent. The company will also make strategic investments in technology, sales and marketing, as well as potential future acquisitions.
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