Several Indian startups have raised funds from February 12 to February 16 across various categories, including supply chain, fintech, home care, etc. We will highlight seven such transactions, including how the startups plan to use the raised capital.

Captain Fresh | Online Seafood Firm

Captain Fresh, an online seafood firm, has made headlines by raising $25 million in a funding round, which is part of a larger $48 million extended funding round at a $500 million valuation.

The funding round was co-led by UK government-backed British International Investment (BII) and Andhra Pradesh-based Nekkanti Seafoods Group. 

As per the startup, the freshly raised funds will be used to expand its operations in the US and European markets. The firm also plans to make some investments in expanding its supply chain in Southeast Asia, sourcing products from countries like Indonesia and Malaysia.

Founded by Utham Gowda, Captain Fresh is an online seafood firm that works in B2B format, supplying sellers with fish and seafood. Its innovative solutions include a seamless platform for e-auctions and community connects, advanced digital factory management, customized ERP, and a multi-channel demand generation engine.

In September last year, the firm raised $20 million as part of this ongoing funding round led by Japan-based SBI Investment and Evolvence Capital, with participation from existing investors like Accel, Tiger Global, Prosus, and Matrix Partners India.

Metalbook | Future of Metal Supply Chain

Metalbook, a full-stack digital metal supply chain platform, secured $15 million (Rs 125 crore) in a Series A funding round led by Rigel Capital. The funding round saw participation from FJ Labs, as well as existing investors, Foundamental, Stride Ventures, Axilor Ventures, and Trifecta Capital, among others.

As per the startup, the freshly raised funds will be used to improve its technological stack, launch new verticals, and expand its network of processing centers.

Founded by Pulkit Baldev, Aman Tibrewal, and Raghavendra Pratap Singh in 2021, Metalbook is a full-stack digital supply-chain platform that provides fabrication and inventory solutions.

The startup helps enterprise and small and medium enterprises (SME) customers through their entire metal manufacturing and procurement cycle. This includes buying, selling, customisation, logistics, excess inventory liquidation, financing, e-auctioning, scrap recycling, credit & project management solutions.

Metalbook aims to achieve an annualized revenue run rate of $200 million by the end of FY24.

Ayekart | Agrifood-focussed Fintech Startup

Ayekart, an agrifood-focussed fintech startup, bagged $6.5 million (Rs 54 crore) in a Series A funding round co-led by Omnivore, Siana Capital, and Unleash Capital Partners. 

As per the startup, the freshly raised funds will be used to expand its operations nationwide. With this funding, the startup aims to cater to a larger audience of FPOs (farmer-producer organizations), food manufacturers, distributors, and retailers. 

Co-founded by Debarshi Dutta, Ashutosh Singh, Milind Borgikar, Kunjal Thackar,  and Anand Mugad in 2020, Ayekart provides fintech and supply chain solutions for traditional businesses in the agrifood value chain.

The agrifood-focused fintech startup launched its commercial operations in September 2021 with a team of six. Since then, the firm has expanded to a team of over 150 members across six locations. Operating in 18 states, the firm has around 9,000 active merchants on its platform. 

Illumine-I | Sustainable Design and Engineering Firm 

Illumine-I, a sustainable design and engineering firm operated by Illumine Industries Pvt Ltd, secured around $2 million (Rs 17 crore) in a Series A funding round from Anicut Capital. 

As per the startup, the freshly raised funds will be used to expand into new markets and focus on automation and digitization. 

Founded by Nithish Sairam and Sudarsan Krishnan in 2015, Illumine-i provides structural and electrical engineering expertise for power plants, energy storage systems, and distribution components. The design and engineering firm also extends digital modeling, engineering, and project management expertise to the architecture, engineering, and construction sector. 

Segwise | AI-powered Observability Platform

Segwise, an AI-powered observability platform, bagged $1.6 million (Rs 13.3 crore) in a pre-seed funding round led by Powerhouse Ventures. Antler India, Saka Ventures, Blume Ventures, Everywhere Ventures, Untitled Ventures, Kunal Shah (Cred), and undisclosed executives from Amazon, SAP, Microsoft, Gojek, Flipkart, PhonePe and Groww, amongst others, also participated in the funding round.

The funding will enable the startup to build robust full-stack AI agents to assist mobile product growth teams, improving their effectiveness in such tasks.

Founded by former FamPay executives Brijesh Bharadwaj and Shobhit Gupta, Segwise is an AI-powered observability platform building AI agents that can operate across all the layers of the product growth stack.

This includes monitoring data for opportunities and issues to eventually run growth experiments. The AI-powered observability platform allows for integrations across multiple data sources and tools and fine-tunes AI models tailored to tasks in the mobile product growth universe. 

Happi Planet | Home Care Products Brand

Happi Planet, a home care products brand, secured around $1 million (Rs 8.47 crore) from Fireside Ventures.

As per the startup, the freshly raised funds will be used to double down its efforts on online platforms and expand its physical reach to 250 stores by the end of 2024. 

Founded by Nimeet Dhokai and Mayank Gupta, Happi Planet provides home care products made from plant-based actives. Its products are available to buy from online platforms like Amazon, Big Basket, and D-Mart Ready, as well as in offline modern trade stores like Reliance Signature stores. 

Corrit Electric | EV Manufacturing Firm

Corrit Electric, an Electric vehicle (EV) manufacturing firm, bagged $602,445 (Rs 5 crore) in an angel investment round from Porush Jain, the co-founder of sports content startup Sportskeeda. 

As per the startup, the freshly raised funds will enable it to expand operations and improve its research and development initiatives. 

Founded by Mayur Misra and Nishan Kapoor, Corrit Electric is an EV bike manufacturing firm that started its operations by launching a homegrown fat tire bike – Hover. Following this, Corrit Electric then developed two additional variants of this scooter. 

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