Several Indian startups have raised funds across various categories from April 15 to April 19, including marketing automation, kidswear, web 3 gaming, etc. We will highlight six such transactions, including how these startups plan to use the raised capital.

Ecozen | Climate-smart Deeptech Firm

Ecozen, a climate-smart deeptech firm, has made headlines by raising $30 million (Rs 250 crore) in a mix of debt and equity from existing investors, including asset management firm Nuveen. The cleantech startup also raised debt from the InCred Credit Fund and the US International Development Finance Corporation (DFC).  

As per the startup, the freshly raised funds will be used to cater to the growing demand for its products and to further its commitment to climate-smart technology.

Founded by three IIT Kharagpur alumni- Devendra Gupta, Prateek Singhal, and Vivek Pandey, Ecozen is a Pune-based cleantech startup offering solar-powered systems to small and marginal farmers in India. Over the last ten years, the company’s products, Ecotron and Ecofrost, have been utilized in the agricultural irrigation and cold chain industries, respectively.

In January 2023, Ecozen raised $25 million in funding.

Includ | Kids & Toddlers Clothes 

Includ, a kidswear maker, bagged $1.5 million (Rs 12.5 crore) in a seed funding round led by Incubate Fund Asia. Escape Velocity, Abhishek Goyal (Co-founder of Tracxn), and IIM Indore Alumni Angel Fund, also participated in the funding round.

As per the startup, the freshly raised funds will be used to improve its supply chain, build in-house technology, and create brand awareness.

Founded by Ashwin Rastogi in 2023, Includ is a Gurugram-based kidswear maker that offers a range of clothing options made out of sustainable materials. Catering to children aged 0-14 years old, Includ claims to have crossed monthly sales of more than Rs 2 crore.

Zepic | Hyper-personalized Customer Experience

Zepic, a US and Chennai-based marketing automation platform, secured $2.1 million (Rs 17.5 crore) in a pre-seed funding round from early-stage investment firm Neon Fund, along with undisclosed angel investors. 

As per the startup, the freshly raised funds will be used to further strengthen its product and engineering efforts. The funding will also enable the startup to increase market outreach in the US and other markets.

Co-founded by Naveen Venkatesan, Bharathi Kannan Ravikumar, Sunil Kumar, and Sreelesh Pillai, Zepic is a marketing automation platform that can ingest and model any business data alongside customer data to hyper-personalise experiences for their customers. 

This unified customer platform tailors campaigns to individual preferences and behaviors while taking into account the context and journey of the business-customer relationship.

Circle of Games | Web3 Multi-gaming App

Circle of Games, a web3 gaming platform, raised $1 million (Rs 8.3 crore) in a funding round from Nazara Technologies and The Hashgraph Association. 

As per the startup, the freshly raised funds will be used for its go-to-market strategy and improve platform capabilities. Further, the startup will use the raised funds to widen its international presence in the US, European Union (EU), Middle East, Africa, and Asia in 2024.

Founded by Rabilal Thapa, Rajeeb VC, and Rohit Tiwari in 2022, Circle of Games is a web3 multi-gaming startup that develops casual and skilled-based games on blockchain, with play-to-earn reward mechanics. 

Circle of Games reports that it has garnered over 250,000 registered Android users. The gaming startup plans to expand its gaming portfolio from the current six games to more than ten by the fourth quarter of 2024. It is also set to launch its app on iOS devices by the second quarter of 2024.

Varco Leg Care | Leg Care Dedicated Brand 

Varco Leg Care, a New Delhi-based startup providing end-to-end leg health and beauty solutions, bagged $500,000 (Rs 4.5 crore) in a seed funding round from early-stage venture capital firm Sunicon Ventures.

Existing investors, along with new investors like senior executives from Coca-Cola, Emporia UAE, and undisclosed high-net-worth individuals (HNIs), also participated in the funding round. With this funding round, the leg care dedicated brand has managed to double its valuation.

As per the startup, the freshly raised capital will be used for the improvement of its offline touchpoints, research and development (R&D) initiatives, and marketing efforts.

Varco Leg Care is the world’s first leg care dedicated brand that leverages technology and clinical expertise to empower individuals to take control of their leg health, promoting early intervention and proactive self-care. Its science-backed products target leg health issues like varicose veins, diabetic foot, foot ulcers, restless leg syndrome, and so on. 

ClaimBuddy |  Health Insurance Claim Assistance

ClaimBuddy, a health insurance claim assistance platform, secured $5 million (Rs 42 crore) in a Series A funding round led by Bharat Innovation Fund (BIF). Japanese fund CAC Capital and existing investors, including Chiratae Ventures and Rebright Partners, also participated in the funding round.

As per the startup, the freshly raised funds will help the startup improve its technology and expand its team and sales network. The raised capital will also enable the startup to add new product lines for its network of hospitals.  

Founded by Khet Singh Rajpurohit and Ajit Patel, ClaimBuddy is a health insurance claim assistance platform providing an ecosystem to facilitate a hassle-free mediclaim journey. As per the startup, it has processed claims for over 35,000 patients, valued at over Rs 500 crore. Currently, it has established collaborations with 250 partner hospitals across India.

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