ShareChat co-founders raise $3 Mn for their new startup General Autonomy Sharechat co-founders Farid Ahsan and Bhanu Singh, who left the social media firm in January this year, have raised $3 million in seed funding for their new startup General Autonomy. Ahsan announced the development on X (formerly Twitter). Venture capital firms India Quotient and Elevation Capital have led the round with participation from angel investors like Zetwerk co-founder Srinath Ramakkrushnan, Livspace co-founder Ramakant Sharma and ShareChat co-founder and CEO Ankush Sachdeva. “With a vision to make mass manufacturing agile and distributed like software development, we’re in Bengaluru but working globally,” said Ahsan. “Join us on this thrilling journey as we build AI driven machines to automate the toughest parts of labour workflows in factories. P.S. If you’re as passionate about robotics as we are, reach out, connect, and let’s build something extraordinary together,” he added. Ahsan and Singh have joined the ranks of several growth stage companies where co-founders or top level executives left the company and managed to raise capital for their new startup. The list counts Atomicwork, founded by Minjar’s founders, GenWise and Third Unicorn, founded by former BharatPe executives, GoodGudi by Dailyninja’s founders and Virgio by former Myntra CEO.

Breathe ESG offering SaaS solutions for sustainability management raises $315K led by 100X.VC Breathe ESG, a startup offering enterprise SaaS solutions for sustainability management, has raised $315,000 in a pre-seed funding round led by 100X.VC, which was the first institutional investor to invest in this startup. Who are the other investors in the startup? Post 100X.VC pitch day, KANJ Realty Ventures and Hyderabad Angels, notable angel investors like Vipul Jain (Chairman, Kale Logistics and Partner, Hearth Ventures), Pradeep Lala (Managing Director & CEO at Embassy Services) and Prashant Naik (Managing Partner, GRICAA) invested in the company. What is the purpose of fundraising? According to the company’s statement, the raised capital would used to increase product capabilities, improve the suite of offerings, and expand into global markets. “We are incredibly excited and grateful for the trust and support shown by our investors. This capital injection is a testament to the necessity of integrating sustainability into business operations,” the founders said in a joint statement. The founders further said that the capital would accelerate Breathe ESG’s product development and reach expansion. What does Breathe ESG do? Founded in July 2022 by Karantaj Singh and Shaayak Chatterjee, Breathe ESG assists enterprises in streamlining their sustainability efforts, making the transition to sustainable practices more accessible, efficient, and affordable. Sustainability management is essential for companies in today’s complex business landscape, as it integrates ESG practices into core business strategy to strengthen a company’s reputation and attract consumers and investors. Ninad Karpe, Founder & Partner, 100X.VC, said, “As the first institutional investors, we are thrilled that Breathe ESG has raised its pre-seed funding. At 100X, we invest in innovative startups and sustainability management is an area that has enormous scope. We are optimistic that Breathe ESG will scale rapidly in the future”

Cybersecurity startup SecurWeave raises Rs 2.8Cr in a seed round led by IAN SecurWeave, a cybersecurity startup developing cutting-edge solutions against advanced malware attacks, today announced the closure of its seed funding round after raising Rs 2.8 crore in funding led by Indian Angel Network (IAN), with investors including Romesh Sobti, Uday Chatterjee, Nagendra P Bandaru, and Prakash actively participating. Building cybersecurity platforms SecurWeave said that it has been building cybersecurity platforms that go beyond conventional solutions and address the growing challenges posed by advanced malware attacks. The company has already demonstrated its capabilities in both private and defence sectors in India and is now poised for global expansion. The startup operates from workspaces, including the IITMIC, IITM Pravartak Technology Innovation Hub, NCoE, DSCI, Noida, and NCR, reflecting its commitment to pioneering cybersecurity development. Notably, It claims that its technology is capable of detecting advanced malware, offering a dual-use solution applicable to both civil and military applications. Why IAN invested in SecurWeave? According to IAN’s co-founder Padmaja Ruparel, SecurWeave’s inventive cybersecurity technology brings critical risk mitigation to one of the world’s highest risks, i.e., Cyber risks. “The founding team brings excellent focus on advanced digital security solutions. SecurWeave’s strategy and team are well poised to build a substantial business within the cybersecurity sector, and IAN is looking forward to handholding and guiding this excellent young team,” Padmaja said. Dr. Prem Chand, CEO, and Co-Founder of SecurWeave, added, “At SecurWeave, we are dedicated to revolutionizing cybersecurity. This funding marks a crucial step in our journey to create robust solutions against advanced cyber threats. We are grateful for the support from IAN and our investors, enabling us to fortify our position as leaders in the global cybersecurity landscape. “Our commitment extends beyond the conventional, and with this strategic backing, we are empowered to continue pushing the boundaries of cybersecurity innovation. Together, with the invaluable support of our partners, we are shaping a future where digital security is not just a priority but a standard of resilience against the ever-evolving threat landscape,” Prem Chand added. What does IAN do? IAN Group is an Indian seed and early-stage investment platform with IAN Angel Group, BioAngels and IAN Fund I, the first in the series of VC Fund enabling entrepreneurs to raise from Rs 50 lakh to Rs 50 crore from investors who provide funds, mentoring and global market access. The platform is sector-agnostic and has funded innovative startups across 19 sectors in India and 7 other countries. Last month, IAN appointed Sarika Saxena as its Managing Partner for IAN Alpha Fund, a SEBI-registered Venture Capital fund. In 2021, the cybersecurity market in India was valued at nearly $10 billion. As of 2023, it’s estimated to be around $3.97 billion and will reach approximately $9.21 billion by 2028.

PMI Electro Mobility Solutions secures Rs 250 crore investment from Piramal Alternatives The freshly raised capital will bolster company’s business expansion and sustainability issues, PMI Electro Mobility said in a statement. PMI Electro Mobility Solutions secures Rs 250 crore investment from Piramal Alternatives Electric bus maker PMI Electro Mobility Solutions on Wednesday announced raising funds in the form of strategic investment to the tune of Rs 250 crore from Piramal Alternatives, the fund management business of the Piramal Group. The freshly raised capital will bolster company’s business expansion and sustainability issues, PMI Electro Mobility said in a statement.   The funds are planned to be strategically utilised in developing innovative solutions, bring technological advancements to the company’s production capabilities and scale its operations, it said. The investment has been made through the Piramal Alternatives’ Performing Credit Fund (PCF), a sector-agnostic fund that caters to the capital needs of mid-market companies, PMI Electro Mobility said. Futher, the company said it has received its maiden investment from PCF in the form of convertible securities. There has been a surge in demand for deployment of electric buses owing to the government’s vision of net zero emission goals dovetailed with recently announced PM eBus Sewa scheme, Aanchal Jain, CEO at PMI Electro Mobility, said. Source: https://www.moneycontrol.com/news/business/pmi-electro-mobility-solutions-secures-rs-250-crore-investment-from-piramal-alternatives-11595631.html

Aditya Birla’s TMRW Invests INR 155 Cr In D2C Brand The Indian Garage Co TIGC claims to have a leadership position in the casual wear market, with a strong presence in the men’s wear segment. It recently entered women’s wear category TMRW said the investment will help it exploit growth avenues across D2C, offline, and other channels and deepen expansion into sub-brands and categories TMRW counts names such as Bewakoof, Berrylush, Juneberry, Natilene, Nauti Nati, Nobero, Urbano, and Veirdo in its portfolio The Aditya Birla Group’s house of brands business TMRW has invested INR 155 Cr (about $18.6 Mn) in D2C brand The Indian Garage Co (TIGC).   In a statement, TMRW said the investment will help it exploit growth avenues across D2C, offline, and other channels and deepen expansion into sub-brands and categories. However, it didn’t disclose the stake acquired by TMRW in the brand. Founded in 2012 by Anant Tanted, TIGC claims to have a leadership position in the casual wear market, with a strong presence in the men’s wear segment. Recently, it also expanded into women’s wear and plus size segments with FreeHand and HardSoda brands, respectively. TIGC claimed to have generated a revenue of INR 300 Cr in FY23 with a healthy profit margin. “With TMRW’s investment and capabilities, TIGC has a path to become the leading brand in men & women casual wear with a path to INR 1,500 Cr in the next 5 years and a strong focus on Tier-II/III city-led growth,” the statement said. Commenting on the latest addition in its portfolio, Prashanth Aluru, CEO and cofounder of TMRW, said, “With a deep consumer understanding & product strength, TIGC has demonstrated a compelling product-market fit, stellar scalability and strong consumer love reflected in their Top 1 to 5 ranking across e-commerce platforms. With the deep category & brand building experience as well as tech-led scaling path which TMRW brings, we are confident in establishing TIGC as the leading casual wear brand…”    The rise in internet penetration and improving access to smartphones in the country have given a boost to online shopping, which has spawned a number of D2C brands. Bewakoof, DaMENSCH, FableStreet, The Souled Store are among the popular D2C brands in the country. Recently, TMRW invested INR 200 Cr in Bewakoof, which is one of the eight digital-first lifestyle brands in which the company decided to invest. The Aditya Birla Group ventured into the realm of house of brands with TMRW in June 2022, with plans to build a portfolio of fashion and lifestyle brands by acquiring and incubating over 30 brands in the next three years. Its current portfolio includes names such as Berrylush, Juneberry, Natilene, Nauti Nati, Nobero, Urbano, and Veirdo. According to Inc42 data, the Indian ecommerce market is expected to clock a CAGR of 19% between 2022 to 2030 to reach a size of $400 Bn by 2030. Of this, the fashion and apparel market is expected to grow at the fastest rate at 24% and reach a size of $112 Bn by 2030. Consequently, startups as well as corporates are trying to make the most of this opportunity. Recently, Reliance Retail acquired a majority stake in actor Alia Bhatt’s children’s wear brand Ed-a-Mamma, while AJIO entered into a partnership with H&M. source: https://inc42.com/buzz/aditya-birlas-tmrw-invests-inr-155-cr-in-d2c-brand-the-indian-garage-co/

Garuda Aerospace Raises INR 25 Cr From Venture Catalysts, WeFounderCircle, Others Garuda Aerospace’s bridge funding round also saw participation from investors, such as Hems Angels, San Angels, and Peaceful Progress Funds The MS Dhoni-backed startup said it would use the fresh funds for working capital requirements and fulfilling drone orders Earlier this year, the drone startup raised $17 Mn in its Series A funding round, just months after it raised $5 Mn Chennai-based drone startup Garuda Aerospace has raised INR 25 Cr (about $3 Mn) in a bridge funding round led by Venture Catalysts and WeFounderCircle. The funding round also saw participation from other investors, such as Hems Angels, San Angels, Peaceful Progress Funds, and various angel investors.  In a statement, the startup said it would use the fresh funds for working capital requirements, ensuring seamless execution of the drone order of the Indian Farmers Fertiliser Cooperative Limited (IFFCO) and fulfilling the pre-booked orders from dealers across the country. Garuda said the demand for its drones has surged in recent times. It has received an order for 400 drones from IFFCO and a pre-booking of 10,000 drones from 700 dealers across the country.  Founded in 2015 by Agnishwar Jayaprakash, Garuda manufactures and sells drones, and offers drone-as-a-service (DaaS) solutions for sectors like agriculture, defence, mining, mapping, and warehouse management. Commenting on the fundraise, CEO Jayaprakash said, “This fresh capital infusion will play a crucial role in accelerating our growth and enhancing our capabilities to meet the escalating market demand.” Earlier this year, Garuda raised $17 Mn in its Series A funding round, months after it raised $5 Mn. The startup is backed by the likes of SphitiCap, former Indian cricket team captain MS Dhoni, among others.  Talking to Inc42, Jayaprakash earlier said that the drone startup is eyeing a revenue of INR 1,000 Cr in FY24 and aims to go public in the next two years. he fundraise comes at a time when the Indian drone industry is growing leaps and bounds. While a large number of startups, established over the last few years, have played a critical role in this growth, the industry has been further helped by the Indian government’s efforts to boost the sector. The Centre, which is aiming to make India the drone hub of the world by 2030, has brought in a number of reforms for further growth of drone manufacturing and use of drones in the country. As a result, two drone startups, DroneAcharya and ideaForge, have gone public in the past one year. According to a recent study by BlueWeave Consulting, the Indian agriculture drones market is expected to see a compound annual growth rate (CAGR) exceeding 25% from 2022 to 2028. source: https://inc42.com/buzz/garuda-aerospace-raises-inr-25-cr-from-venture-catalysts-wefoundercircle-others/

Sportstech Startup Game Theory Bags Funding From Nithin Kamath, Rohan Bopanna Game Theory raised $2 Mn in its pre-Series A funding round from Nithin Kamath’s Rainmatter, Rohan Bopanna, WEH Ventures, Prequate Advisory, and angel investors The sportstech startup said it will use the fresh funding for technology development, to build skill-based matchmaking, establish coaching products, and expand the reach of smart sporting facilities Founded in 2018, Game Theory is creating an ecosystem through a user-friendly app, facilitating the seamless discovery of compatible players and enjoyable gaming experiences Sportstech startup Game Theory has raised $2 Mn in its pre-Series A funding round from Nithin Kamath’s Rainmatter, Rohan Bopanna, WEH Ventures, Prequate Advisory, and angel investors such as Balakrishna Adiga. Source: https://inc42.com/buzz/game-theory-bags-funding-from-nithin-kamath-rohan-bopanna-to-provide-sports-technology/