The Weekly Startup Funding

Greetings!

Welcome to the latest edition of the Grizmo newsletter!

We strive to bring you the latest and greatest technology news and insights. In this issue, we’ll be delving into some of the most exciting developments in the world of technology. It includes cutting-edge innovations, emerging trends, and industry updates.

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Here’s a roundup of top news stories from the Indian startup ecosystem.

• Mufin Green Finance raises Rs. 45 crores in Series A funding. In a funding round that Incofin India Progress Fund (IPF) led, Mufin Green Finance has raised Rs. 45 crores. The company plans to disburse income-generating loans worth Rs. 5,000 crores in five years. The firm aims to reduce carbon emissions by 4 million metric tonnes during this time.
• Kolkata-based Shyp (YC W23) is an online platform connecting shippers and carriers to move cargo and other goods in real time. The platform allows different transporters to list on it, and then shippers can choose any transporter to move the goods. In 2022, Shivam Bharuka and Sanchit Narang founded the business.
• SuperAPI raises $125k in seed funding: Bengaluru-based Super API has raised $125k in seed funding, according to recent reports. The platform offers API transformation and validation software to its customers. Super API has raised a total of $925k in funding so far.
• qoohoo (YC W23) raises $125k in seed funding: Y Combinator-backed Qoohoo has raised $125k in seed funding. The online platform provides content-creating solutions and enables users to launch events, courses, payment pages, and more. It monetizes through a subscription-based pricing model.
• FloWorks raises $125k in seed funding. Bengaluru-based Floworks has raised $125,000 in seed funding. The cloud-based RPA platform is designed for basic automation.
• DMI Finance raises $400 million in equity funding. DMI Finance, a digital lending company, has raised $400 million in equity funding. Mitsubishi UFJ Financial Group was the round’s lead investor, and Sumitomo Mitsui Trust Bank Limited participated. DMI Finance raised $47 million in January 2022 from SuMi TRUST Bank, NXC Corporation, and New Investment Solutions. The Mumbai-based NBFC claims to cover 95% of India’s pin codes and has an accessible customer base of 25 million.

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• Dozee raises $6 million: Dozee, India’s first contactless remote patient monitoring (RPM) and AI-based early warning system (EWS) have raised $6 million in its Series A2 funding round. Dozee has established a presence in over 380 hospitals, covering more than 50 districts in different states.
• Lightspeed invests in the Indian startup ZYOD. Lightspeed Venture Partners and India Partners led a $3.5 million seed round for Zyod, which assists fashion brands worldwide in finding and producing clothing. The company wants to help fashion brands deal with the risk of having too much inventory and keep up with the fast-growing needs of the industry.
• Prozeal Infra Engineering Pvt. Ltd. Infra raises $4 million: Chandrakant Gogri’s family office arm, Alchemie Ventures, has led a $4 million round of funding for Prozeal Infra, a solar EPC company. Prozeal Infra plans to use the proceeds to scale operations and execute developer-model projects for energy and utility companies. Founded in 2013, Prozeal Infra has made strides in the commercial and industrial segments and aims to create sustainable and pro-environment energy solutions for future generations.
• Baselit (YC W23), an Indian platform that provides software to help people make decisions based on data, has raised $125,000 in seed funding. Baselit aims to use its innovative technology to offer decision support to its users. With the help of funding, Baselit aims to expand its platform and reach a larger audience.

We hope you found this newsletter informative and engaging. We’ll be back soon with more updates from the Indian startup ecosystem. Stay tuned!