Startup Funding News: $2.5M for AI Vending, INR 6.5 Cr for Luxury Watches

The Indian startup ecosystem saw two funding announcements today, with Argos Watches and Wendor securing investments to fuel their growth plans.

Argos Watches Raises INR 6.5 Crore in Angel Funding Round

Argos Watches, an Indian luxury watch brand, has raised INR 6.5 crore in its angel funding round at a valuation of INR 45 crore. The investment came from a group of high-net-worth Indian investors.

Following the funding announcement, Argos Watches launched the Olympus, India’s first mechanical watch equipped with a power reserve indicator. The watch is priced between INR 8,000 and INR 20,000.

M Channiwala, Founder of Argos Watches, said, “This investment is a strong validation of our vision. With this support, we will scale our operations, enhance our product offerings, and continue pushing the boundaries of Indian watchmaking.”

Argos Watches operates on a Direct-to-Consumer (D2C) model, selling exclusively through its website. The company plans to use the funds to accelerate product development, expand brand awareness, and enhance its digital presence. The brand aims to double its revenue in the current financial year.

India’s luxury watch market, valued at over INR 10,000 crore, has been witnessing growth driven by rising disposable incomes and increasing demand for mechanical timepieces.

Wendor Secures $2.5 Million to Scale AI-Driven Vending Solutions

Wendor, a provider of AI-driven smart vending solutions, has raised $2.5 million (approx. INR 21 crore) from Elanpro, a commercial refrigeration equipment company. The funding consists of equity (INR 5 crore) and debt (INR 16 crore).

The investment will be used to enhance Wendor’s AI-powered vending technology and support international expansion. Elanpro will also provide operational support, leveraging its service and logistics network across India.

Wendor’s technology stack includes camera-based product and quantity detection systems, AI-powered demand forecasting, and advanced automation to optimize inventory management and streamline retail experiences.

Lakshit Anand, Founder & CEO of Wendor, said, “This investment marks a turning point in Wendor’s mission to revolutionize automated retail. With Elanpro’s backing, we are well-positioned to execute an ambitious expansion strategy.”

Elanpro’s support includes access to a nationwide service network, import-export logistics, and integrated hardware, software, and refrigeration expertise.

Wendor plans to establish 10 experience centers across key metro and Tier-1 cities in the next two months. The company also plans to expand internationally, targeting the Middle East and Southeast Asia.

Wendor’s existing partnerships include NAFED, Rashtrapati Bhawan, Taj Mahal, and Fatehpur Sikri in collaboration with Uttar Pradesh State Tourism and Agra Development Authority. It also works with brands such as Coca-Cola, Amul, Unilever, and Fortis.

Indian Startups Attract Investor Interest

The funding announcements from Argos Watches and Wendor highlight continued investor interest in Indian startups operating in the luxury and technology-driven retail sectors. The two companies plan to use the fresh capital to strengthen their market presence and expand their offerings in India and overseas.

Disclaimer: This report is based on company/PR press release, creatively edited without altering facts. TICE is not responsible for business decisions based on this report and does not verify its accuracy.