[Indian Startup Funding Weekly Roundup January 22 to January 27] Krutrim, DocOsage, STAN, Others Raise Funding
Several Indian startups have raised funds from January 22 to January 27 across various categories, including AI, E-sports engagement, stock advisory, etc. We will highlight five such funding deals, including how the startups plan to utilize the raised capital.
Krutrim | AI, Made in India
Bhavish Aggarwal, Co-founder of Ola, has made headlines by becoming the only second Indian behind three unicorns. Aggarwal achieved this feat after his artificial intelligence startup Krutrim raised $50 million in fresh funding led by Matrix Partners India.
As per the startup, the freshly raised funds will be used to drive innovation and expand its reach globally.
Launched in April last year, Krutrim has also become the fastest startup to claim the unicorn tag and India’s first AI company to attain unicorn status (valuation of $1 billion).
Last month, Krutrim released its base large language model (LLM) with the aim to deliver a state-of-the-art AI computing stack that encompasses the AI computing infrastructure, AI Cloud, foundational models, and AI-powered end applications for the Indian market.
As per the startup, with the largest representation of Indian data used for its training, Krutrim powers generative AI applications for all Indian languages.
Bookingjini | Traveltech Startup
Bookingjini, a traveltech startup, secured pre-Series A funding from Inflection Point Ventures (IPV), an early-stage investor.
As per the startup, the freshly raised funds will be used for both product development and customer acquisition strategies.
Founded by Sibasish Mishra, Bookingjini, with its all-in-one hotel management solution, offers a smart booking engine, channel manager, guest relationship management, analytics, and mobile accessibility.
The startup strives to empower hotels from all aspects, ranging from customer outreach to automating their booking process and improving their online presence and revenue to stimulate Top-line and Bottom-line growth.
STAN | E-sports Engagement Platform
STAN, a Bengaluru-based e-sports engagement platform, bagged $2.7 million (Rs 22.4 crore) in a pre-Series A funding round from several investors. These investors include Pix Capital, Maelstrom Fund, Climber Capital, TDV Partners, Aptos Labs, GFR Fund, CoinDCX Ventures, Coinswitch Ventures and existing investor General Catalyst.
As per the startup, the freshly raised funds will be used for product development and to develop its technology stack.
STAN is a Bengaluru-based e-sports engagement platform that enables crеators to build, monеtisе communitiеs and еngagе usеrs with their favourite gaming creators or celebrities through digital collectibles, chat or audio rooms, and with еach othеr.
OpiGo | Stock Advisory Startup
OpiGo, a Mumbai-based stock advisory startup, secured $168,342 (Rs 1.4 crore) in a pre-seed funding round from angel investors Manish Choksi and Shubham Satyarth, the founder of Sharpely.
As per the startup, the freshly raised funds will be used to improve user experience and expand the user base. The startup also plans to use the funds to introduce a new advisory vertical.
Founded by Devansh Mehta in 2023, OpiGo is a Mumbai-based stock advisory startup that provides a gamified community and incentive-driven paper trading, consolidated broking, in-depth stock research, and a dedicated advisory vertical, amongst other features.
With its beta version having 7,500 users, the platform caters to users through its intuitive and dynamic decision-making features like cards, polls, scores, and more.
Namdev Finvest Private Limited | Promoting Financial Inclusion
Namdev Finvest Private Limited, a Jaipur-based NBFC, bagged $15 million in its Series B funding round co-led by British International Investment (BII), LC Nueva AIF (LC), and Incofin India Progress Fund (an existing investor).
The startup plans to use the capital to expand its reach, enhance product diversification, and invest in technology enhancements.
Founded by Jitendra Tanwar in 2013, Namdev Finvest caters to Micro, Small, and Medium Enterprises (MSMEs) in rural and semi-urban areas through its network of 100+ branches in North-West India.
It offers solutions ranging from commercial vehicle loans, car loans, business loans, two-wheeler loans as well as gold loans, helping unserved and unreached farmers and entrepreneurs to enrich their lives.
DocOsage | AI-based healthtech startup
DocOsage, an AI-based healthtech startup, secured an undisclosed amount in a pre-seed funding round led by angel investor Mayur Agarwal.
The startup plans to use the freshly raised funds for product development. It also plans to use the raised capital to improve core AI capabilities for health insights and conduct early-stage testing for the telehealth and genetic studies platform.
Founded by Varun Vashisthaa, Shivali Agarwal, and Lipi Verma in 2023, DocOsage is a New Delhi-based company that uses AI for personalized health insights and future integration of telehealth and genetic testing for holistic care. The startup also facilitates home delivery of medicines, booking investigations and diagnostics, and sharing reports.
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