Indian Start-ups that secured funding & investment this week Feb 21 to 29

Investments buzzed for Indian Start-ups this week. Look into the Latest Developments, Significant Investments and Partnerships this week  February 21 to 29.

Talking about the latest Funding reports a crunch of investors came up and boosted the development of the Indian Start-ups. A lot of homegrown businesses, space tech-development platforms and mobility platforms have secured funding. Also, the latest Partnerships and significant Developments have been talked about.

1. Bandhu raises funds led by Venture Catalysts in Round up Series A

Bandhu, a prop-tech firm, raised Rs 7.35 crore or $0.9 million in a Series A funding round led by Start-up developers Venture Catalysts, with Neeraj Aggarwal, Amit Khera, Manish Gupta, S. Srinivasan, and Abhishek Kumar participating. Additionally, in June 2021, they secured $1.5 million from investors such as Unitus, InfoEdge Ventures, and Bharat Innovation Funds.

2. IntrCity owner of Smart Bus and RailYatri raised more funds in Round Up Series C 

The parent company of RailYatri, the mobility platform IntrCity, has raised $4.5 million in Series C funding. The round was led by Mirabilis Investment Trust associated with Nilekani's family trust, Omidyar Network India, and US-based Ujamaa Ventures, all of which were existing investors. IntrCity plans to leverage the funds to enrich its product offerings, bolster user acquisition efforts, and expand its services along key routes, catering to the increasing needs of its expanding traveler community, as stated in a press release by the company.

3. Cult.fit acquires $10 million in Series F

The homegrown health-tech platform Cult.fit has secured $10 million from Valecha Investments. Additionally, Gul Advani of Sun and Sand Hotels secured 28.26 crore. According to the Registrar of Companies (ROC), Extreme Brands LLP, L&K Wellness Services, and other individual investments were also included.

4. Space Tech Start-up Digantara raised funds led by Aditya Birla Ventures and others

Digantara, a space-tech start-up, raised $2 million from Aditya Birla Ventures and SIDBI Venture Capital. This completes Digantara's Series A funding round at $12 million, following a previous funding round of $10 million in June 2023, led by Peak XV Partners (formerly known as Sequoia Capital India and Southeast Asia).

5. Reliance Partners with Sri Lankan Elephant House

The Reliance FMCG division has collaborated with Sri Lanka's Elephant House to launch a brand in India, as part of the conglomerate's beverage growth strategy in a market dominated by Coca-Cola and Pepsi. Reliance Consumer Products Limited (RCPL), a subsidiary of Reliance Retail Ventures Limited, has sealed partnerships to produce, market, distribute, and retail beverages.

6. Adani to Invest massively in Madhya Pradesh

The Adani Group plans to invest Rs 75 crore in the Madhya Pradesh Project across various sectors such as power generation, pump storage, cement, and others, which will provide direct and indirect employment to thousands of people. Additionally, the group announced a massive investment during the Regional Conclave in Ujjain. To date, the group has invested Rs 18,000 crore, creating 11,000 employment opportunities.

7. MS Dhoni propped Garuda Aerospace Acquires orders for 500 Kisan Drones

In the agriculture sector, Garuda Aerospace aims to grow its market share through partnerships and collaborations, supporting Shri Narendra Modi's visionary initiative to empower women-led Self-Help Groups. The company announces the acquisition of 500 Garuda Kisan Drones from leading fertilizer companies under the NaMo Drone Didi Scheme. National Fertilizers Limited (NFL), Rashtriya Chemicals and Fertilizers (RCF), The Fertilisers and Chemicals Travancore (FACT), and Hindustan Urvarak & Rasayan Limited (HURL) are among the fertilizer companies involved.

8. Capria Ventures announced an investment in Wagely

Wagely, a financial wellbeing platform for workers, is seeking investment from Capria Ventures. The organization has acquired $23 million in the latest funding round, inclusive of both debt and equity. Wagely empowers workers to take control of their finances by granting them access to their earned wages at the end of each workday. This service is provided at no cost to employers, who can then offer it as an optional perk to their employees.