ConsumerTech Startup Up Raises Pre-Seed Funding From Rainmatter

ConsumerTech Startup Up Funding
Indian Funding News

Consumer hardware startup Up (previously React Labs) has raised $500,000 (around Rs 4.1 crore) as part of its pre-seed funding from Nithin Kamath-led Rainmatter.

As per the startup, the raised funds will be used to execute the go-to-market strategy of its first product delishUp.

The product features a touch screen with unlimited guided recipes, coupled with a jar, which heats and cooks, offering controlled chopping, stirring and other culinary functions.  

Up | ConsumerTech Startup

Founded by Mohit Sharma and Mahek Mody, Up builds home appliances (which it dubs up-liances) that are designed in Bengaluru and made in India.

Its first product, DelishUp, is a smart cooking jar that offers 10 inbuilt functions – whisk, blend, chop, stir, sauté, boil, steam, cook, knead & self-clean, along with an integrated smart weighing scale.

Speaking about the development, Mahek Mody, Co-founder of Up, said,

“We are looking forward to taking delishUp to consumers across the country. Most other services available in the market focus on the exercise or ‘calories out’ options, but nearly none of them are offering users the superpower to take control of ‘calories in.”

Founding team of Up
Co-founders of Up

The consumer hardware startup is also part of Qualcomm’s 2022-23 accelerator program through the Qualcomm Design in India Challenge (QDIC). As part of QDIC, Up is building technical collaboration with Qualcomm.  

Since its beta-testing phase, the consumer hardware startup claims to have seen an influx of inquiries. As per the startup, consumers have been signing up for early access to the delishUp before deliveries begin in December. 

The startup closed its pre-seed round at a total of $1.3 million. Last month, Up raised $800,000 in funding led by Tim Draper of Draper Associates.

Up has also received funding from Stanford Angels & Entrepreneurs of India (SAE India), Gaurav Munjal & Roman Saini (co-founders of Unacademy), and Tarun Mehta & Swapnil Jain (co-founders of Ather Energy).

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