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Funding Rundown: MarketWolf raises $10 million in Series A round, Ensuredit gets $4.2 million in Pre-Series A funding, KoinX raises $1.5 million seed round & Sequoia India

Funding Rundown: MarketWolf raises $10 million in Series A round, Ensuredit gets $4.2 million in Pre-Series A funding, KoinX raises $1.5 million seed round & Sequoia India

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By Aishwarya Anand   IST (Updated)

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

Jungle Ventures and Dream Capital lead $10 million round in MarketWolf
Fintech stock trading platform MarketWolf has raised $10 million in its Series A funding round led by Jungle Ventures and Dream Capital. Existing investors and others including 9Unicorns, iSeed, Crescent and Riverwalk, also participated in the round.
This brings the total capital raised by the startup to $17.4 million since inception. The company said it will use the fresh capital for building out its product suite and to hire top talent across product, marketing and engineering functions.
MarketWolf claims to have clocked over 1.5 million app downloads in India in the last 18 months and the number of trading accounts and retail active clients have grown 10X compared to the same period last year, despite the volatility seen in public capital markets this year, a statement said.
Ensuredit gets $4.2 million in Pre-Series A round led by Cover Genius
Insurtech startup Ensuredit has received $4.2 million Pre-Series A funding round led by Cover Genius. 9Unicorns, NexStep Discovery, CP Ventures, Venture Catalysts, IPV along with existing investors, also participated in the round.
As per the startup, the fresh capital will be used to ramp up product offerings and expand the technology team. The firm will also look to develop and deploy context-driven artificial intelligence (AI), machine learning (ML), and computer vision-based products.
"As Cover Genius deepens its global capabilities, especially in the Indian market which is highly underinsured, we are eager to help Ensuredit use its technology to bring relevancy to the traditional insurance market,” said Angus McDonald, CEO, and co-founder of Cover Genius.
"Having successfully partnered with some of India’s largest digital companies, such as Flipkart and Pepperfry, we believe this region is poised to adopt an embedded protection model,” he added.
Lightbulb.ai bags $1.5 million from Chiratae Ventures and 9Unicorns
Lightbulb.ai, an emotion Ai and engagement analytics platform has raised $1.5 million in its Pre-Seed funding round led by Chiratae Ventures and 9Unicorns.
Anthill Ventures and video-editing company, VideoVerse, also participated in the funding round.
The startup will use the fresh capital to deepen the datasets for their machine-learning technology and expand the product offering. A part of the funds will also be deployed towards building a robust engineering and sales team and foraying into the US market, a statement said.
Crypto tax startup KoinX raises $1.5 million in seed funding
Crypto tax platform KoinX has secured $1.5 million in a seed funding round led by Polygon founder Sandeep Nailwal, iSeed Fund, KubeVC, and other angel investors.
The company has already partnered with crypto exchanges such as CoinDCX, Binance, Vauld, and WazirX. The startup said it will use the funds to scale up operations across India and serve over 5 lakh crypto investors by Q2 of this fiscal year.
GrowthX bags $1.5 million in seed funding round
GrowthX, a social learning community platform, has raised $1.5 million in a seed funding round led by Better Capital and several angel investors. As per the firm, over 200 founders, leaders and operators across companies like Razorpay, Airbnb, Mamaearth, Meesho, Myntra, and Freshworks, participated in the funding round.
65 percent of the funds were raised from its own community members, it added. The startup intends to use the fresh capital to invest in products, pedagogy and tech. The firm claims to have been profitable since day one and said it has almost zero cost of acquisition and an NPS of 78.
Sequoia India, Kalaari and others back climate-tech company Climes
ClimateTech company Climes has raised $1.2 million in its first round of funding which was led by Sequoia Capital India, Kalaari Capital, Nithin Kamath (Zerodha, Rainmatter) and Avaana Capital.
Angel investors including Satyen Kothari (Cube Wealth) and Anshuman Bapna (Terra.do) from Stanford Angels, Keshav Reddy (Reddy Futures), and climate-tech founders Arjun Gupta (Smart Joules) & Akshay Singhal (Log9 Materials) among others, also pitched in.
The company said it will use the capital to deploy more integrations with brands in fashion, food, travel, beauty and personal care, and enable a pathway for brands to become climate leaders within their categories.
The firm is also looking to expand its tech-stack to onboard high-quality climate solutions within India, as well as to measure and report impact transparently.
"With this capital raise, Climes is i) building the necessary digital infrastructure to enable a big chunk of this money to flow transparently and ii) designing the right incentives for all market players to benefit.
The delta of each rupee/dollar/euro that flows through Climes will have an outsized multiplier impact on global carbon mitigation," said Anirudh Gupta and Siddhanth Jayaram, co-founders of Climes.
Zyla Health raises $1 million in Pre-Series A round led by Seeders and others
Personalized care management platform Zyla Health has raised $1 million in its Pre-Series A round led by Seeders, with participation from SuperMorpheus.
Prominent angels who invested in the round include Kavikrut, chief growth officer, Oyo; Rahul Jain, co-founder and COO of Epigamia; Uday Thakker, co-founder and director, Epigamia; Vivek Shah, MD, Investment Banking, Haitong Securities; Mridul Karkara, MD, Monitor Deloitte; Abhishek Shah, co-founder of Almo; Sumedha Khoche, CEO & founder of Kinderpass; Amanpreet Singh Bajaj, GM of Airbnb; Udit Goenka, founder, and CEO of PitchGround.
The company is targeting a 5X growth this year with the latest infusion of funds. "We have seen great traction in the last few quarters in our B2B2C model wherein insurers and employers are investing towards the wellbeing of their members/ team through Zyla’s data-driven, highly-utilized products.
Zyla will use the funds to strengthen the leadership and invest in integrating Zyla’s care product across the ecosystem for growth," said Khushboo Aggarwal, founder, and CEO.
Hustlers Hospitality secures Rs 7 crore in seed funding round
Footech startup Hustlers Hospitality has secured a seed funding of Rs 7 crore in a funding round led by Falisha Technoworld. The firm intends to use the fresh capital for accelerating its growth and market expansion.
The firm is aiming to reach across 6 cities through 9+ dedicated central kitchens by the end of this financial year. The startup will also use the funds for hiring and SOP development. Hustlers Hospitality aims to raise another round of funding, Series A, by the end of FY22, a statement said.
Airattix gets Rs 1.25 crore through external funding to accelerate growth
Public storage marketplace Airattix has raised Rs 1.25 crore in its Pre-Series A round of funding led by a clutch of Indian and American investors. The company plans to expand its presence in tier 1 and tier 2 cities, team building, technology development, and marketing, a statement said.
The firm also plans to invest in its technology and mobile applications and scale up its marketing activities. The software in the mobile application and the website will now be enabled with tools like artificial intelligence and machine learning to make it more user-friendly for the customers. Currently, Airattix has over 5000 registered users since its launch in 2020.
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