Several Indian startups have raised funds across various categories from March 4 to March 8, including Ayurveda, cryptocurrency, social networking, finance, etc. We will highlight six such transactions, including how these startups plan to use the raised capital.

The Ayurveda Experience | Ayurvedic Health And Wellness Platform

The Ayurveda Experience, a Gurugram-based direct-to-consumer (D2C) brand run by Transformative Learning Solutions Pvt Ltd, has concluded a Series C funding round of $27 million (Rs 223 crore), which was a mix of primary investment and secondary share sale. 

Led by Singapore-based Jungle Ventures, the funding round also saw participation from SIDBI Ventures and existing investors Anicut Capital and Sharrp Ventures, the family office of Marico’s Harsh Mariwala.

As per the startup, the freshly raised funds will be used to expand its brand presence in existing markets and increase customer engagement on its platform. The startup will also invest the raised capital in product research and development (R&D) and scale new avenues for distribution.

Founded by Rishabh Chopra, The Ayurveda Experience is an Ayurvedic health and wellness platform with a presence in North America, Europe, Canada, Australia, and India.

The ayurvedic health and wellness platform offers its product across segments, including skincare, body care, personal care, and food & beverages, among others, through brands including iYURA, A Modernica Naturalist, Ajara, and Ayuttva. Additionally, The Ayurveda Experience also provides a range of services, including consultation, webinars, content, and courses on Ayurveda.   

FreeStand | Digital Sampling Platform

FreeStand, a B2B marketing platform, bagged $400,000 (Rs 3.3 crore) in a seed funding round. The funding round was co-led by early-stage investor Venture Catalysts and Nocking Point Advisors, where SucSEED Indovation, IIM-Calcutta Innovation Park, along with angel investors like Guneet Singh (Google APAC), and Varun Singh Hooda, also participated.

As per the startup, the freshly raised capital will be used to expand its offering to include event and retail sampling channels. The raised funds will also enable the startup to leverage AI capabilities to enhance and further simplify its product experience for FMCG marketers. 

Founded by Sneh Soni, Kavach Chandra, and Konark Sharma, FreeStand is a platform that makes product sampling campaigns simple to launch, scale, monitor, and manage. Simplifying the process of executing product sampling campaigns for FMCG brands, FreeStand organizes and avails sampling channels for brands. This ensures product samples always reach the right end customer.

As per the startup, FMCG majors such as HUL, Emami, Nestle, Nivea, Piramal Healthcare, Cipla Health, Reckitt Benckiser, L’Oreal, and others are currently using its platform for sampling exercises.

Mufin Green Finance | Financing Climate-sustainable Products

Mufin Green Finance, a listed non-banking finance firm, secured $5 million (Rs 41.4 crore) in a debt funding round from impact investor BlueOrchard. The development has come a month after the firm secured around $17 million (Rs 140 crore) in funding.

As per the firm, the freshly raised funds will be used to accelerate its initiatives in the green and energy segments.

Founded in 2016, Mufin is an NBFC that finances climate-sustainable products across India. With a presence in 16 states across India, the NBFC provides loans for income generation through Electric Vehicles, Electric Charging Infrastructure, and Swappable Batteries for both retail and fleet operators.  

Hunch | Social Networking App

Hunch, a social networking app, bagged $23 million in a Series A funding round led by New York-based investment firm Alpha Wave Global and Seoul-based venture capital firm Hashed.

As per the firm, the raised funds will help launch the app across the US and further expand in India while it introduces more features.

Launched by Ish Goel, Nitika Goel, and Kartic Rakhra in 2022, Hunch plans to introduce new features based on user insights. As per the firm, these enhancements will make the platform more engaging and valuable to its user base. Headquartered in Dubai, the firm has offices in India and Singapore.

Hack2Skill | Technology-focused Community Platform 

Hack2Skill, a community of technology innovators, bagged $1 million (Rs 8.3 crore) in a funding round from Recur Club and deep tech-focused venture capital firm Spring Ventures. The funding round was a mix of debt and equity infusion.

As per the startup, the freshly raised funds will be used for product development, marketing, and sales.

Founded by Samkit Sharma, Hack2Skill is a technology-focused community platform for technology innovators, including startups, indies, corporate professionals, freelancers, and student developers, which are specialized in trending technologies like GenAi, AR/VR, blockchain, machine learning, Web 3.0, AI, and much more.

Hack2Skill organizes innovation challenges, hackathons, workshops, and boot camps on its platform. The platform has partnered with SBI Bank to execute hackathons focused on online fraud. 

Onramp Money | Cryptocurrency Startup

Onramp Money, a cryptocurrency startup, raised an undisclosed amount in a seed funding round from FunFair Ventures.

As per the startup, the freshly raised funds will be used for product development along with expanding its market reach.

Onramp Money is a cryptocurrency startup that provides a platform catering to the purchase and sale of more than 350 tokens across 30 countries. The cryptocurrency startup offers fiat-to-crypto onramps and offramps, offering a secure way for users to trade cryptocurrencies using their fiat currencies. 

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