This week, from December 11 to December 15, several Indian startups across categories raised funds. We will share a few of these funding updates, including how these startups will utilize the funds.

PlasmaGen Biosciences | Biopharmaceutical Firm

PlasmaGen Biosciences Pvt Ltd, a Bengaluru-based biopharmaceutical firm, bagged Rs 225 crore ($27 million) from UK-based Artian Investments, Indian public market investor Ashish Kacholia, pharmaceutical entrepreneurs Anurag Bagaria, Dushyant Patel, and several high-net-worth investors. 

The funding round also saw participation from existing investors Eight Roads Ventures and F-Prime Capital.

As per the biopharmaceutical firm, the freshly raised funds will be used to expand its presence internationally, develop products, and fund working capital requirements. 

Founded in 2010, PlasmaGen is a biopharmaceutical firm focused on blood plasma-derived pharmaceutical products for India and emerging markets. The biopharmaceutical firm sells drugs to private hospitals and state governments in India and other emerging markets.

In India, the Bengaluru-based biopharmaceutical firm has a presence in more than 70 cities. Selling drugs such as albumin, intravenous immunoglobulin, rabies immunoglobulin, and RhD immunoglobulin (anti-D), the firm covers more than 5,000 physicians and hospitals, backed by an end-to-end cold chain network.

Exponent Energy | EV-focused Rapid Charging Startup

Exponent Energy, a Bengaluru-based EV-focused rapid charging startup, secured $26.4 million in a Series B funding round. The funding round was led by Eight Roads Ventures, which includes a strategic investment from TDK Ventures.

The round also saw participation from existing investors like Lightspeed, 3one4 Capital, AdvantEdge VC, YourNest VC, and the family office of Pawan Munjal.

As per the startup, the freshly raised funds will be used to scale its presence to 5 new cities by FY24. The Bengaluru-based EV-focused rapid charging startup also plans to expand its offering in the electric three-wheeler space and enter the intercity e-bus segment in 2024.

Founded by Arun Vinayak and Sanjay Byalal, Exponent Energy simplifies energy for EVs by building chargers and batteries. The startup claims to provide 100% rapid charge within 15 minutes for EVs with any number of wheels. 

The Bengaluru-based startup partners with OEMs to integrate its e-pack to create a rapid charging variant and sets up a network of e-pumps for end users operating in logistics to charge their EVs.

QNu Labs | Cybersecurity Platform

QNu Labs, a cybersecurity platform, raised $6.5 million (Rs 54 crore) in a pre-Series A1 round. The round saw participation from Ashish Kacholia of Lucky Investments, early-stage VC firm Speciale Invest, and an undisclosed family fund. 

As per the startup, the freshly raised funds will be used for product development, expansion across geographies, and hiring talent. 

Founded by Sunil Gupta and Srinivasa Rao Aluri in 2016, QNu Labs is a cybersecurity platform that offers quantum cryptography, quantum encryption, and quantum communication products and solutions. 

These products offer security of data on the internet, cloud, and edge, providing confidentiality and privacy against new-age attacks that target critical information infrastructure, communication, and personally identifiable information.

Snitch | Fashion Brand

Snitch, a Bengaluru-based fashion brand, secured $13.1 million (Rs 110 crore) in a Series A funding round. The round was co-led by SWC Global and IvyCap Ventures, where several undisclosed angel investors also participated.

As per the startup, the freshly raised funds will be used to hire talent, improve its technology stack, and expand offline. 

Snitch is an omnichannel fashion brand that claims to have achieved a turnover of Rs 100 crore in FY23. The fashion brand aims to open 100 offline stores across India in the next 4-5 years. 

As per Siddharth Dungarwal, founder of Snitch, the brand’s focus is on delivering value through its online platforms, coupled with its offline presence, which positions it well for future growth.

BetterSpace | Mental health-focused Healthtech Startup

BetterSpace, a mental health-focused healthtech startup, secured Rs 45 lakh in a pre-seed funding round from startup accelerator PedalStart.

As per the startup, the freshly raised funds will be used to improve its existing offline and online services, marketing, and brand visibility, optimizing technology and the application, and hiring talent.

Further, the funds will be used to develope a new product range, consisting of games and toolkits.

Founded by Shivli Shrivastava and Abhilash Shrivastava in 2020, BetterSpace offers psychologist-led online counselling, workshops, and community engagement programs on sexuality, disability, and mental health education.

Burger Singh | Quick-service Restaurant Chain 

Burger Singh, a quick-service restaurant chain owned by parent company Tipping Mr Pink Pvt Ltd, secured fresh funding in the pre-series B round. The round was led by Turner Morrison Ltd and saw participation from Homage Ventures LLP – the office of Aditya Ghosh.

Existing investors, including Mumbai Angels, Anicut Capital’s Ashvin Chadha, Thapar Family Trust’s Vikramaditya Mohan Thapar, and LetsVentures, also participated in the funding round.

The quick-service restaurant chain, which has over 150+ stores across the country, plans to tap into consumer catchments such as universities, malls, and airports by setting up 15 kiosks over the coming couple of months at metro stations around Delhi NCR.

As per Kabir Jeet Singh, founder of Burger Singh, these kiosks reduce the traditional risks associated with location, fit-out costs, and high rentals, ensuring the brand’s franchisees can achieve a faster return on their investment.

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