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[Indian Startup Funding Weekly Roundup March 25 to March 29] Bambrew, KreditBee, SuperK, Aye Finance, Two Others Raise Funding

Several Indian startups have raised funds across various categories from March 25 to March 29, including sustainable packaging, digital lending, asset management, etc. We will highlight six such transactions, including how these startups plan to use the raised capital.

Bambrew, a sustainable packaging startup, has made headlines by raising Rs 60 crore (about $7 million) in a Series A round through a mix of equity and debt infusion. Led by Blume Ventures, the funding round also saw participation from Mumbai Angels, Indus Capital, Blue Ashva Capital, and several angel investors.

As per the startup, the freshly raised funds will be used to expand into primary packaging for consumer goods, food, and beverages product categories. The funding will also enable the startup to expand manufacturing capabilities, research and development, and build a team.

Founded by Vaibhav Anant in 2019, Bambrew is a Bengaluru-based cleantech startup operating in the sustainable packaging segment. The startup offers alternatives to single-use plastics in the packaging industry that are plastic-free, degradable, and environmentally friendly.

A few of its clients include Amazon, Nykaa, Mahindra MyGlamm, Bata, and Snitch.

KreditBee, a digital lending platform, secured $9.4 million or Rs 78.33 crore from its existing investors in an extended Series D funding round. These investors include Premji Invest, Motilal Oswal Private Equity, and Mirae Asset, among others.

As per the startup, the freshly raised funds will be used for business expansion. 

Founded by Madhusudan E, KreditBee is a digital lending platform that facilitates instant personal loans to professionals, where they can avail loans up to INR 4 lakhs as per their requirement. 

The fintech firm claims to have disbursed credit worth Rs 30,000 crore and has over 7 million customers.

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SuperK, a firm that runs retail supermarkets in tier 3 towns and beyond, secured $6 million (Rs 50 crore) in funding led by Blume Ventures. The funding round also saw participation from Silver Needle Ventures, Veltis Capital, and Atrium Angels, among others.

As per the startup, the raised capital will enable it to strengthen its tech capabilities and physical infrastructure like warehouses, among other things.

Founded by Anil Thontepu and Neeraj Menta, SuperK offers a full-stack solution to empower small-format retail stores in India with the benefits of procurement, tech systems, intelligence, and marketing at scale to create a chain of mini supermarkets. 

Started operating its first store in January 2020, SuperK now runs about 125 stores in 80 towns across Telangana through a franchise model. It targets small towns that have a population size of between 20,000 and five lakhs.

Aye Finance, a Gurugram-based non-banking financial company (NBFC), bagged €15 million ($16.2 million) in debt funding, approximately Rs 137 crore. The funding round was led by German impact investor Invest in Vision’s private funds, including IIV Mikrofinanzfonds.

As per the firm, the freshly raised capital will be used for expanding on-lending to underserved medium, small, and micro enterprises (MSMEs).

Founded by Sanjay Sharma, Aye Finance is a new-age finance company providing business loans to ​​small and micro enterprises across India​.

As of February 2024, the firm claims to have disbursed loans totaling over Rs 10,000 crore to grassroots businesses in India. With an active client base of more than 450,000 (4.5 lakh) micro-enterprises, the firm’s assets under management (AUM) exceed Rs 4,000 crore.

Aeria, a tenant experience and asset management platform for commercial real estate, bagged $1.8 million in a pre-seed funding round. Led by Kalaari Capital and Foundamental, the funding round also saw participation from AC Ventures and AL Trust, among others.

As per the startup, the freshly raised funds will be used to expand its presence across Southeast Asia, the Middle East, and other Asian countries over the next year.

Founded by Priyanka Gera and Piyush Kateja, Aeria is a data-driven AI-powered tenant experience & asset management platform transforming office buildings from a commodity to an experience.

The startup connects developers and their teams with corporates, asset managers, and service vendors to have a seamless workplace experience, all coupled with data analytics. 

AdOnMo, a Hyderabad-based ad-tech firm, bagged Rs 58.21 crore (around $7 million) in its Series B1 round. This funding round marks the first major infusion in AdOnMo, since its Series A round last year, which was led by Zomato.

As per the startup, the freshly raised funds will be used for business expansion and to meet working capital requirements.

Founded by Sandeep Bommireddi and Sravanth Gajula in 2016, AdOnMo is disrupting the world of Digital Out-of-Home (DOOH) advertising by harnessing the power of technology and analytics!

The startup provides targeted digital advertising on outdoor digital screens, with over 30,000 screens installed across 21 cities. These screens are located in areas with high foot traffic, including elevator lobbies of residential and commercial buildings, supermarkets, and malls, both in residential and corporate parks.

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