Several Indian startups have raised funds from January 15 to January 19 across various categories, including web3, social media, B2B manufacturing, etc. We will highlight six such transactions, including how the startups plan to utilize the raised capital.

zbyte | Web3 Startup

zbyte, a web3 startup, has made headlines by raising $4 Mn (INR 33.2 Cr) as part of a strategic funding round from multiple investors. These investors include Cartography Capital and Quarterback Financial.

The startup plans to use the raised funds to ramp up hiring, accelerate product development, and demonstrate use cases of the new platform. 

Founded by Krish Kupathil, Nitin Kumar, and Ankush Tiwari in 2021, zbyte is a one-stop developer platform to build, deploy, and operate dApps (decentralized applications). The web3 startup has developed a blockchain-enabled low-code/ no-code platform that makes building dApps easy for developers and enterprises.

zbyte has created a new category in the blockchain ecosystem: the decentralized platform (dPlat) that supports multiple protocols, enabling dApp and digital asset portability across chains. This enables developers to build an application or asset once and deploy it across multiple blockchains with a few clicks.

The Web3 startup aims to accelerate the adoption of Web3 by building an API-first decentralised platform protocol, offering support for multiple Layer1 blockchains, connectors to Web2 systems, and the ability to use dApps with configurable gas fees. 

In addition to this funding, the startup also claims to have received an additional commitment of $1 Mn. 

Fetcch | Web3 Payments Infrastructure Platform

Fetcch, a Web3 payments infrastructure platform, bagged $1.5 million (Rs 12.5 crore) in a pre-seed funding round co-led by AppWorks Venture and Hashkey Capital. LD Capital, Compute Ventures, M6, GravityX Capital, and NGC also participated in the funding round.

As per the startup, the freshly raised capital will be used for product development and expansion in the Web3 sector while simultaneously building Web2.5 use cases.   

Founded by Mandar Dange and Satyam Kulkarni in May 2023, Fetcch provides infrastructure for digital payments and rewards platforms, especially for the Web3 payments ecosystem, focussing particularly on cross-chain payments.  

Medial | Social Media App

Medial, a social media application, has raised around $120,000 (Rs 1 crore) in a pre-seed funding round led by FirstCheque VC. The funding round also saw participation from angel investors Nayan Jadeja, Rohitashwa Choudhary, Ankit Aggarwal, and Radhakrishnan Ramachandran.

In this round, FirstCheque invested Rs 75 lakh, while the remaining amount was poured in by angel investors.

As per the startup, the raised amount will be used for product development, user acquisition, and testing of core application features.   

Founded by Niket Raj Dwivedi, Aishwarya Raj Pandey, Prateek Kaien, and Harsh Dwivedi, Medial is a social media application that is currently in its beta stage. The app claims to have a user base of over 5,000 people and targets to serve as a platform for professionals in domains such as tech, product, and design. 

Medial is set for an official launch by the end of January.   

InPrime Finserv | Tech-driven NBFC

InPrime Finserv, a tech-driven NBFC, bagged $3 million in a Series A round led by Matrix Partners India. Existing investors, such as InfoEdge Ventures, Titan Capital, and Kettleborough VC, also participated in the funding round.

As per the startup, the funds will be used to expand its geographical footprint and augment teams in risk, engineering, analytics, and sales departments. Further, the funds will enable the startup to develop digital channels, credit scoring models, and diversification of loan portfolio.

Founded by Rajat Singh, Manish Raj, and Sneh Thakur in December 2021, InPrime Finserv is a tech-led & data-driven financial services firm focused on providing financial services to the “Prime” segment of India’s informal economy. As per the startup, this segment consists of around 50 million households with an annual credit need of Rs. 5 Lakh Crores.

Groyyo | B2B Manufacturing and Automation Startup 

Groyyo, a B2B manufacturing and automation startup, secured $5.4 million (Rs 45 crore) in a debt funding round from Lighthouse Canton and venture debt firm Trifecta Capital. 

As per the startup, the freshly raised capital will allow it to partner with a broader spectrum of small and medium enterprises (SMEs) and help them take their business global.

Founded by Subin Mitra, Pratik Tiwari, and Ridam Upadhyay in July 2021, Groyyo is a B2B manufacturing and automation startup focused on driving efficiency for its factory partners and works with suppliers in industries such as apparel, footwear, accessories, furnishings, ceramic and furniture to drive their sales to buyers. 

The B2B firm has enlisted over 360 factories producing a range of products for more than 110 brands across 9 countries worldwide. It counts retailers like Inditex, Next, Mango, Ross, and Burlington as clients.

BuyEazzy | Beauty and Wellness-focused E-commerce Startup 

BuyEazzy, a beauty and wellness-focused e-commerce startup, bagged $4.25 million in a Series A funding round led by Info Edge Ventures. The funding round saw participation from existing investors-Incubate Fund Asia and M Venture Partners.

As per the startup, the raised capital will be used for product development, hiring talent, and geographical expansion within India.

Founded by Rahul Aggarwal and Hariher B in 2021, BuyEazzy is a Mysore-based beauty and wellness-focused e-commerce startup catering to consumers in Tier 2+ cities, where access to a large number of beauty products is limited.

Currently, BuyEazzy is operational in 10 Tier II and III cities in Karnataka and Tamil Nadu. The startup plans to reach 40 cities in the short to medium term. 

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