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TICE Startup Funding Index: Top 11 Startups Making Waves This Week!

The desi startups are on fire this week with millions of cash flowing in! See who scored big bucks in AgriTech, EVs, AI & more! This week's funding frenzy hints at a bright future for Indian innovation! Watch TICE Funding Index for hottest trends!

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Swati Dayal
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This week saw a positive funding sentiment in the startup ecosystem, with a variety of innovative startups securing significant investments. The spotlight was on agritech, fintech, digital fitness, and AI-driven platforms which attracted the most interest from investors, as tracked by TICE Funding Index. These investments highlight a continued focus on sectors that leverage technology to drive efficiency, sustainability, and enhanced user experiences.

                                        TICE STARTUP FUNDING INDEX 

Startup Investment Investors Purpose
Agrilectric Rs 1 crore ($150,000) Ah! Ventures' First Gear Platform Support for Agritech Innovation
ProsParity $2 million BEENEXT, Sparrow Capital, All In Capital, DeVC, Huddle Ventures, and notable angel investors Expand electric mobility financing solutions
UnifyApps $11 million Elevation Capital, angel investors Develop AI-based app integration platform
Freshleaf Rs 1 crore Inflection Point Ventures Marketing, production, and R&D
Portl $3 million Bharat Innovation Fund, Kalaari Capital, T-Hub Foundation Product development and market expansion
SAVE Group $13 million Incofin India Progress Fund, Maj Invest Expand microfinance and housing loans
SuperKalam $2 million Y Combinator, Fundersclub, GoodWater Capital, Nurture Ventures Enhance AI-driven personalized learning platform
OTPless $3.5 million Sidbi, Venture Highway, FJ Labs, Piper Serica Global expansion and technology enhancement
Propelld $25 million (debt) Credit Saison India, AU Small Finance Bank, InCred Financial Services, Northern Arc Capital Expand student loan offerings
Battery Smart $45 million Acacia Inclusion Limited, MUFG Bank, Blume Ventures, Ecosystem Integrity Fund, British International Investment Expand battery-as-a-service model
Niqo Robotics $13 million Bidra Innovation Ventures, Fulcrum Global Capital,
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Agrilectric: Ah! Ventures' First Gear Platform Invests in Agritech Innovation

Investment: Rs 1 crore ($150,000)

Investors: Ah! Ventures' First Gear Platform

Purpose: Support for Agritech Innovation

Agrilectric is at the forefront of agritech innovation, utilizing advanced technologies to boost agricultural productivity and sustainability. The recent funding injection from Ah! Ventures' First Gear Platform will enable Agrilectric to develop and expand its suite of technological solutions, which aim to enhance efficiency and environmental sustainability in agriculture. Ah! Ventures, with a robust portfolio of 221 investments across 130 startups, continues to deepen its impact on the startup landscape with this investment.

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ProsParity: Secures $2 Million in Pre-Seed Funding, Spearheaded by BEENEXT

Investment: $2 million

Investors: BEENEXT, Sparrow Capital, All In Capital, DeVC, Huddle Ventures, and notable angel investors

Purpose: Expand electric mobility financing solutions

ProsParity is a fintech platform revolutionizing financing for the electric mobility sector. Founded by Saurabh Khodke and Anirudh Dhakar, the platform focuses on compliance, scalability, and agility, providing comprehensive financing solutions to EV dealers and OEMs. This $2 million pre-seed round, led by BEENEXT, will enable ProsParity to streamline its services and expand its reach in the burgeoning electric mobility market.

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UnifyApps: Secures $11M to Revolutionize Enterprise App Integration with AI

Investment: $11 million

Investors: Elevation Capital, angel investors

Purpose: Develop AI-based app integration platform

Founded in 2023, UnifyApps aims to transform enterprise app integration with its generative AI platform. Under the leadership of CEO Pavitar Singh, the startup focuses on eliminating organizational silos and enhancing user experiences through rapid custom app creation, workflow automation, and real-time data synchronization. The $11 million funding will support the integration of over 5,000 applications, positioning UnifyApps as a leader in enterprise technology solutions.

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Freshleaf: Inflection Point Ventures Leads Rs 1 Cr Seed Round for Premium Tea Brand

Investment: Rs 1 crore

Investors: Inflection Point Ventures

Purpose: Marketing, production, and R&D

Freshleaf, a premium tea brand, is dedicated to delivering high-quality and innovative tea flavors. The seed funding from Inflection Point Ventures will boost Freshleaf's marketing efforts, scale its production capabilities, and support research and development for new products. This investment positions Freshleaf to compete robustly in the premium beverage market.

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Portl: Bharat Innovation Fund Leads $3M Investment in Digital Fitness Venture

Investment: $3 million

Investors: Bharat Innovation Fund, Kalaari Capital, T-Hub Foundation

Purpose: Product development and market expansion

Founded in March 2021, Portl specializes in digital fitness and wellness technology. Its flagship product, Portl Studio, leverages AI to offer personalized fitness experiences. The $3 million investment will drive product development, enhance AI capabilities, and expand market reach, targeting both Indian and international consumers.

SAVE Group: Incofin and Maj Invest Infuse $13M for Rural Financial Empowerment

Investment: $13 million

Investors: Incofin India Progress Fund, Maj Invest

Purpose: Expand microfinance and housing loans

SAVE Group, established in 2009, provides vital financial services in rural areas, including microfinance and affordable housing loans. The $13 million investment will support SAVE Group's expansion plans, aiming to significantly increase its asset management across its 522 branches in 17 states over the next five years.

SuperKalam: Raises $2M in Seed Round Led by Y Combinator

Investment: $2 million

Investors: Y Combinator, Fundersclub, GoodWater Capital, Nurture Ventures

Purpose: Enhance AI-driven personalized learning platform

SuperKalam, founded in July 2023, offers AI-driven personal mentorship for competitive exam preparation. With over 60,000 students already on its platform, the $2 million seed round led by Y Combinator will enhance its AI capabilities and further develop its personalized learning paths and progress tracking features.

OTPless: Revolutionizing Authentication with $3.5M Pre-Series A Funding

Investment: $3.5 million

Investors: Sidbi, Venture Highway, FJ Labs, Piper Serica

Purpose: Global expansion and technology enhancement

Based in Surat, OTPless simplifies user authentication processes by eliminating the need for one-time passwords. The $3.5 million pre-Series A funding will facilitate global expansion and enhance its authentication services, which are already used by over 5,000 companies and 20,000 developers.

Propelld's NBFC Edgro Secures $25M Debt for Student Loans

Investment: $25 million (debt)

Investors: Credit Saison India, AU Small Finance Bank, InCred Financial Services, Northern Arc Capital

Purpose: Expand student loan offerings

Propelld, an education lending fintech founded by IIT Madras graduates, partners with over 2,000 educational institutions to provide flexible student loans. The $25 million debt financing will enable Propelld to expand its student loan offerings, making education more accessible and affordable for a broader student base.

Battery Smart: Secures $45M Funding to Power Electric Vehicle Expansion

Investment: $45 million

Investors: Acacia Inclusion Limited, MUFG Bank, Blume Ventures, Ecosystem Integrity Fund, British International Investment

Purpose: Expand battery-as-a-service model

Gurugram-based Battery Smart offers lithium-ion batteries for electric vehicles through a battery-as-a-service model. With a significant increase in valuation, the $45 million funding will support Battery Smart's expansion plans, enhancing its market presence and contributing to the growth of electric mobility solutions.

Niqo Robotics: Raises $13M in Series B Round for Agricultural Technology

Investment: $13 million

Investors: Bidra Innovation Ventures, Fulcrum Global Capital, Omnivore

Purpose: Scale AI-driven agricultural technology

Founded in 2015 by Jaisimha Rao, Niqo Robotics uses AI to reduce chemical usage in agriculture. Its technology, already deployed on 90,000 acres benefiting 1,800 farmers, will be scaled further with the $13 million Series B funding, driving continued innovation in the agritech sector. 

The funding landscape this week reflects a strong investor confidence in startups leveraging technology for innovation across various sectors. From agritech and fintech to AI and electric mobility, these investments will drive advancements, foster sustainability, and enhance user experiences, signaling a robust future for technological innovations in the startup ecosystem.

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