Candes, Reevoy, QuickSell, F5 and MediBuddy raise funds
Home appliance company Candes Technology Pvt Ltd said it had raised $ 3 million (Rs 21.9 crore) with funding led by Anuraag and Ruchirans Jaipuria and other family offices.
Investors include Lotus Group Deputy Managing Director Nitin Passi and Dheeraj Jai of Redcliffe, the company said in a statement.
Candes, which focuses on products such as fans, geysers, television, stabilizers, is on track to hit Rs 200 crore in revenue this year, the company said.
Invoice factoring startup Reevoy has raised an undisclosed amount in the form of seed funding led by Stellaris Venture Partners, Better Capital and Startup Angel Network.
This round table saw the participation of Ashish Sharma from InnoVen Capital; Atul Mehta, former head of the World Bank Group; Kunal Shah of CRED; Ramakant Sharma from Livspace; and Vinod Murali from Alteria Capital.
The raised capital will help it develop its technological and business capabilities, Reevoy said.
Previously, she had raised private debts in the UK, US and European capital markets to further finance Indian exporting SMEs.
Debt-at-risk fund Stride Ventures said it led a Rs 25 crore fundraiser on digital healthcare platform MediBuddy.
MediBuddy will use the funds to further strengthen its technology, operations and marketing.
Stride Ventures recently launched its second risk debt fund with a target body of over Rs 1,000 crore. It will continue to invest in early and late stage startups across all industries through its alternative financing solutions within risky debt, he said.
The company has shelled out over Rs 200 crore since January this year, he said.
MediBuddy has a network of partners including doctors, hospitals, diagnostic centers and pharmacies across India.
QuickSell, a mobile-first suite, said it raised $ 2 million in its pre-Series A cycle from InfoEdge Venture Fund and BEENEXT.
The company said the funding would primarily be used to scale the business, team expansion, and product improvement.
QuickSell was founded in 2017 by Deepak Bhagchandani. It is mainly aimed at SMEs selling different types of products like jewelry, clothing, crafts, interior decoration, etc. allowing owners to sell via their mobile.
The D2C brand serving daily workplace consumption, F5, closed Rs 2.5 crore as the first installment of its pre-series A cycle, the company said.
The cycle saw the participation of angel investors, including Mohit Satyanand, president of Teamwork Arts; Gurugram Huddle based accelerator; List of angels; business catalysts; Indian angel investor Rohit Chanana; and Jeevak Gupta, vice president of private equity, InvAscent.
The company raised Rs 3 crore as part of its fundraising round in May of last year.
F5 said the funds will be used for research and development, customer acquisition and technology development.