Several Indian startups have raised funds across various categories from March 18 to March 22, including fitness tracking, fintech, b2b manufacturing, etc. We will highlight seven such transactions, including how these startups plan to use the raised capital.

Yenmo | Get Loan Against Investments

Yenmo, a fintech platform providing instant loans against investments, has made headlines by securing $500,000 in seed funding. The funding round was led by US-based startup accelerator Y Combinator.

As per the startup, the freshly raised capital will enable it to bring in a suite of lending options to every Indian consumer that was only accessible to high-net-worth individuals previously.

Founded by Aryan Agarwal and Ashutosh Purohit, Yenmo enables users to get instant loans against their investments at a flat 10.5% interest rate. Providing users access to cash without redeeming their investments, Yenmo also enables users to view all their investments in real-time, select the assets they wish to borrow against, and receive funds directly into their bank accounts.

Ultrahuman | Real-time Nutrition and Fitness Tracking

Ultrahuman, a Bengaluru-based wearable technology startup, bagged $35 million (Rs 291 crore) in a Series B funding round via a mix of equity and debt infusion from its existing investors. In this round, the startup raised $25 million via equity, while $10 Mn was raised as debt. 

As per the startup, the freshly raised capital will enable it to improve its research and manufacturing capabilities. 

Co-founded by Vatsal Singhal and Mohit Kumar, Ultrahuman is a Bengaluru-based wearable technology startup that helps users keep track of various health-related metabolic parameters.

This self-quantification platform offers several products, including the Ultrahuman Ring AIR (the world’s lightest sleep-tracking wearable), Ultrahuman M1 (a continuous glucose monitoring platform), and Blood Vision (a preventive blood testing platform).

It aims to cross $100 million in annualized revenue run rate (ARR) by the end of 2024. 

Vobble | Audio Content Platform for Kids 

Vobble, a children-focused audio content platform, secured $1 million (Rs 8.3 crore) in a seed funding round led by Lumikai, a gaming-focused VC firm. Blume Founders Fund and undisclosed angel investors also participated in the funding round.

As per the startup, it will use the freshly used funds to expand its user base. Further, it will use the capital for product development and to improve its AI capabilities.   

Founded by Neha Sharma and Sowmya Jagannath in 2023, Vobble is a children-focused audio content platform built for children aged 4-12. Vobble offers story series, podcasts, music, and audio shows to engage young kids meaningfully and imaginatively.

Beatoven.ai | Create Royalty-free music

Beatoven.ai, an AI-based music startup, bagged $1.3 million (Rs 11 crore) in a pre-Series A funding round led by existing investor Capital 2B. Existing investor Entrepreneur First, a few undisclosed angel investors, as well as new investors IvyCap Ventures, Upsparks Capital, and Rukam Capital, participated in the funding round.

As per the startup, the freshly raised funds will be used to improve the overall user experience, hire talent, and develop a scalable go-to-market strategy.

Founded by Mansoor Rahimat Khan and Siddharth Bhardwaj, Beatoven.ai is a simplified music creator tool that helps music composers and content creators create music. With advanced AI music generation techniques, the platform enables users to compose unique mood-based music to suit every part of a video or podcast.

Using its web-based application, having a library of mood-based tunes across genres, content creators can create and customize tunes. As per the startup, it currently empowers 1 million users, with plans to grow its user base to 5 million in the next 3 years. 

Pocket FM | Audio Entertainment Platform

Pocket FM, an audio entertainment platform, secured $103 Mn in Series D funding led by Lightspeed with participation from Stepstone Group. 

As per the startup, the freshly raised funds will be used to strengthen Pocket FM’s push into the US market. The funding will also support its global expansion as it plans to expand into Europe and LATAM (Latin American countries) markets in 2024.

Founded by Nishanth Srinivas, Rohan Nayak, and Prateek Dixit in 2018, Pocket FM is an online marketplace for audiobooks and podcasts that has built the largest repository of exclusive audio series.

With over 100,000 hours of content, Pocket FM enables users to discover and enjoy diverse audio content, ranging from audiobooks to stories and podcasts. The platform has around 2,000 exclusive audio series and over 400,000 episodes across genres and languages.

As per the startup, it will continue to strengthen its exclusive content library. It aims to create a strong IP (intellectual property) playbook by offering the writer community a platform to share their stories.

Liquidnitro Games | Gaming Solutions Provider

Liquidnitro Games, a Hyderabad-based gaming firm providing a variety of services to game publishers, secured $5.25 Mn in a seed funding round led by Nexus Venture Partners.

As per the startup, the freshly raised funds will be used to boost capabilities around art, design, engineering, product, and marketing.

Founded by Sandeep Kowdley, Krishna Dhanekula, Arun Kunchala, and Suresh Manthena in 2023, Liquidnitro Games is a gaming startup, providing game publishers live services, geo-adaptation, and assistance in transitioning gaming ideas and IPs into profitable game launches through prototyping, limited market testing, iteration, and full production.

The startup also offers assistance in setting up specialized game teams to co-produce games and live services.

Relso | Cloud Manufacturer for Furniture

Relso, a B2B furniture manufacturing startup, raised $840,000 (Rs 7 Cr) in pre-seed funding. The funding round was co-led by early-stage platforms Ventures Catalysts and Inflection Point Ventures. Angel investors Ramakant Sharma and Saurabh Jain (Livspace) and Shantanu Deshpande (Bombay Shaving Company), also participated in the funding round.

As per the startup, the freshly raised funds will be utilized for cross-border go-to-market (GTM) strategy, team expansion, and working capital support.  

Founded by Anshul Choubey, Abhinav Agarwal, and Jay Trivedi in 2023, Relso is a Bengaluru-based furniture manufacturing startup providing design-to-delivery solutions built specifically for fast-growing furniture brands & retailers globally. The Bengaluru-based startup offers bespoke design solutions, accommodating low minimum order quantities (MOQs) and ensuring reliability and scalability.  

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