Here’s an overview of all the top deals closed in the startup universe.
Stellaris closes its second fund at $225 M
Early-stage venture capital firm Stellaris Venture Partners has closed its second fund at $225 million.
With this fund, Stellaris Venture Partners now has more than $300 million in assets under management. The firm expects to make 25 to 30 new investments in Seed and Series A rounds of technology companies.
Global institutional capital forms more than 80 percent of the capital base of the second fund, which did the first close in April and was fully subscribed within 45 days.
Stellaris invested in 19 startups, including Mamaearth, Whatfix, mFine, Slintel, Loadshare, Signzy and Propelld, after raising its maiden fund in 2017.
Pickrr gets $12 M funding
Logistics startup Pickrr has raised $12 million in a Series B funding round led by IIFL Private Equity, Amicus Capital and Ananta Capital.
Existing investors like Omidyar Network India and Guild Capital also participated in the funding round.
The fresh capital will be used for product development and expanding the network of fulfillment centres in India, the company said in a statement.
Pickrr provides logistics and warehousing solutions to small and medium-sized businesses, including retailers, marketplace sellers and D2C brands, to improve delivery performance and inventory management.
Emami, Oziva, Healthkart and Bellavita Organics are a few of its existing clients.
Neuron7.ai raises $4.2 M as seed funding from Nexus
Neuron7.ai, a new cloud-software company, has raised $4.2 million in a seed funding round led by Nexus Venture Partners and Battery Ventures.
Early backers and advisers to the company include Qualcomm CFO Akash Palkhiwala, Neudesic Global Services CEO Ashish Agarwal, Amazon Podcasts GM Kintan Brahmbhatt, and Five9's Anand Chandrasekaran.
The California-based firm said it will use the funding to expand its engineering, product and sales teams.
Abhishek Sharma, managing director at Nexus Venture Partners, will join the company’s board.
Neuron7.ai helps drive the transformation of customer services into a cloud-based AI-powered workflow, particularly for companies managing complex products in the technology, manufacturing, and healthcare sectors.
Ping secures $3.5 M funding from Elevation Capital
Ping, a conversational community commerce app, has raised $3.5 million in seed funding from Elevation Capital.
The funds will be used for platform innovation and development, strategic hiring, and for expansion across all metropolitan cities in India, the company said.
Founded in July 2020, Ping enables commerce and communication for agricultural producers, local manufacturers, and home-based business owners among the various residential communities
"The maker economy in India is booming and with the rising e-commerce penetration, a strong movement to provide, preserve and celebrate makers and their identities is emerging. At Ping, our vision is to augment this movement through an effective, conversational community platform that directly connects farmers, makers and producers with local residential communities," Vartika Bansal, Ping founder said.
The startup aims to be at the forefront of catalysing the growth of local entrepreneurship by empowering the business owners to reach a larger pool of new and repeat customers.
Grip Invest raises $3 M in Series A round
Fintech startup Grip Invest has raised $3 million in a Series A funding round led by Venture Highway and Endiya Partners.
Other investors such as AdvantEdge, existing investors, including Anicut Angel Fund and Gemba Capital, and angels such as Satyen Kothari, Founder of Cube Wealth and Citrus Pay, Gaurav Gupta, Chief Business Officer, Cube Wealth, Akash Sinha and Reeju Datta, Co-founders of Cashfree, and Ankit Agarwal, CFO of Navi Technologies and FMS Launchpad also participated in the round.
Grip Invest helps investors invest money in new-age, asset-back investment options. So far, it has facilitated around Rs 75 crore in investments and has over 80,000 retail investors.
The firm plans to use the capital raised to expand the range of investment products it offers, launch new features for users, and strengthen its team. The startup hopes to facilitate Rs 1,000 crore in investments by September 2022, the company said.
D2C startup Blue Tokai Coffee Roasters raises Rs 17 Cr from Anicut Angel Fund
Specialty coffee startup Blue Tokai Coffee Roasters has raised Rs 17 crore in pre-series B bridge round led by Anicut Angel Fund, the equity arm of Anicut Capital, with participation from other new and existing investors.
The D2C brand will use the funding to launch new products, execute farm-level interventions to improve quality, marketing and expand internationally.
"We were fortunate to already have a strong D2C presence and by refocusing our efforts on our online sales channels, we’ve been able to grow our revenue nearly 50 percent more than our pre-covid peak,” said Matt Chitharanjan, Co-founder at Blue Tokai Coffee Roasters.
Founded in 2012, the company started out selling coffee online and through B2B partnerships, and then sought to provide the complete coffee experience through cafes, which are now spread across Delhi-NCR, Mumbai, Kolkata, and Hyderabad.
Edtech startup BlueLearn raises $450,000
Community-driven edtech platform BlueLearn has raised $450,000 in a pre-seed round led by Lightspeed with participation from 100X. VC, Titan Capital, 2am VC and other angel investors such as Rahul Mathur, Gaurav Mandlecha, and Surabhi Randev also participated in this round.
The startup plans to use the funds to build its core team, hire new talent, and develop products to cater to the growing community of users.
BlueLearn started as a community on Telegram where students shared doubts with experts. The company claims to have expanded to 42,000 members from 14 countries—including the US, the UK, Singapore and others.
The company provides a one-stop platform for students to learn new skills, network with peers, and apply for internships, according to its website.
(Edited by : Kanishka Sarkar)