The Indian startup ecosystem has set a new record by bagging another round of funding in a few sectors like Fintech, Healthcare, Fitness, Identity Management & Edtech another win for the startupreneurs by raising funds and updating the growth probability and standardizing the products and services. The week went by successfully witnessing funds in every stage of funding from Seed, Pre-Series A, Series A & Series B.

Sector:  Fintech

Funding Round: Seed round

Startup: Zeplyn

Established Year: 2023

Funding News: Workflow-simplifying Startup 'Zeplyn' bags $3 million in Seed round

The financial management workflow-simplifying startup Zeplyn has raised $3 million in a seed fundraising round.

Investors: Leo Capital    

In June of this year, the business raised $2.6 million in a similar round.

According to a press release from Zeplyn, the company will use the additional funding to increase its workforce, speed up product development, and strengthen sales and marketing initiatives.

Zeplyn, which was co-founded by Era and Divam Jain, lessens the administrative load on financial advisors while enhancing the advisor-client relationship by automating tedious processes and increasing access to customer intelligence.

Speaking to this significant funding round, Zeplyn’s Co-Founder Era Jain states, “60 per cent of client data gathering happens over meetings, yet less than 25 per cent of client meetings are properly documented because manual note-taking is time-consuming, distracting and prone to errors. Financial Advisors spend anywhere from an hour to an hour and a half per client meeting consolidating their notes and doing follow-up work. Many bring an associate advisor to these meetings just to take notes.”

Sector: Health Care    

Funded Round: Pre-Series A

Startup: India IVF

Established Year: 2014

Funding News: Tech-enabled Fertility firm 'India IVF' lifts $1.24 million in Pre-Series A

A Pre-Series A fundraising round headed by Tomorrow Capital has funded $1.24 million for India IVF, a tech-enabled fertility platform. This is the first outside support that India IVF has received since its founding.

Investors: Tomorrow Capital

The money raised will be used to expand throughout North India, allowing the business to close important access gaps in fertility services.

India IVF, which was co-founded by Richika Sahay and Somendra Shukla, seeks to provide underprivileged communities with access to cutting-edge reproductive technologies. With the use of cutting-edge technology and a committed team of professionals, the company has developed a tech-enabled fertility platform that provides complete, 360-degree fertility care.

Rahul Saha, Senior Principal at Tomorrow Capital says, “India IVF has shown remarkable growth and a deep understanding of the unique fertility challenges faced by many Indian couples. With a tech-enabled, patient-focused approach, they deliver high-quality personalized care, addressing the often-emotional and stigma-attached journey of fertility treatment”.

Dr. Somendra Shukla, Co-Founder and CEO of India IVF says, “This partnership will empower us to expand our network and bring advanced fertility solutions to more communities. We look forward to making a positive impact on more families and growing India IVF into a trusted national brand”.

Sector: Fitness

Funding Round: Series A

Startup: Boldfit

Established Year: 2018

Funding News: KL Rahul-invested Fitness firm 'Boldfit' nets 110 Crore in Series A

Boldfit, one of India’s fastest-growing fitness brands, backed by cricketer KL Rahul, has raised 110 crore in its latest Series-A funding from Bessemer Venture Partners (BVP).

Investors: Bessemer Venture Partners (BVP)

This strategic investment will bolster Boldfit's product innovation, brand expansion, and journey toward becoming India’s largest and most influential fitness brand.

Boldfit is at the forefront of India’s rapidly growing fitness industry, meeting the demand for high-quality products that cater to a wide range of fitness enthusiasts.

Pallav Bihani, Founder of Boldfit, shared his excitement about the partnership and the brand’s mission: "This investment from Bessemer Venture Partners is a powerful endorsement of Boldfit’s vision to lead India’s fitness revolution. With this support, we’re ready to take the next big leap in our journey, delivering world-class products that inspire millions of people to lead healthier, more active lives. Boldfit is committed to setting new benchmarks for quality and innovation in fitness, making it accessible to every fitness enthusiast across the country."

Sector: Identity Management

Funding Round: Series A

Startup:  Equal

Established Year: 2022

Funding News: Data-sharing Startup 'Equal' lifts $10 million in Series A

At a post-money valuation of $80 million, Equal, a platform for data sharing and identity verification, has secured $10 million in its Series A funding round.

Investors:  Prosus Ventures, Tomales Bay Capital, Blume Ventures (Founders Fund), DST Global, Quona VC, Gruhas VC (Nikhil Kamath), Binny Bansal (Co-founder, Flipkart), Harsh Jain (Founder, Dream11), Karan Adani (Managing Director, Adani Ports), D S Brar (Chairman, Aragen), and Kunal Shah (Founder, CRED)

The money raised will go toward expanding operations, establishing strategic alliances, and creating a transparent, safe, and integrated digital framework.

Equal, which was founded by Keshav Reddy and Rajeev Ranjan, facilitates regulatory compliance, fraud protection, and KYC for organizations by integrating easily with more than 4,000 API providers and more than 50 ID databases.

Apoorve Goyal, Managing Director of India Investments at Prosus Ventures states, “Equal is at the forefront of revolutionizing identity verification and financial data sharing in India. With its strategic investment in OneMoney AA, Equal is leveraging India’s unique digital public infrastructure to build a secure and scalable platform that addresses the urgent need for frictionless and consent-driven data sharing in today’s digital landscape. We believe in Keshav’s vision to drive financial inclusion through innovative technology, and are excited to support Equal’s growth as it continues to lead this transformation.”

Keshav Reddy, Founder, Equal says, “Our vision is to serve Indians for all their needs. Our journey is rooted in the idea that secure, consent-driven data sharing can unlock new opportunities for all Indians. With this fundraise, and our partnership with OneMoney, we are committed to creating an ecosystem where every Indian and business can confidently take control of their data, fostering a more equitable and empowered digital future for India.”

Sector: Edtech

Funding Round: Series B

Startup: Bhanzu

Established Year: 2020

Funding News: Math-focused Edtech Startup 'Bhanzu' wins $16.5 million in Series B

The Edtech platform Bhanzu, which focuses on math, has raised $16.5 million in its Series B investment.

Investors: Z3 Partners and Epiq Capital, Lightspeed Ventures and Eight Roads

The money will be used for US market expansion. The startup is present in the US, the UK, and the Middle East in addition to India.

The Hyderabad-based business raised Rs 119.8 crore, or around $15 million, in its Series A round in September 2022, with Eight Roads Ventures and other investors leading the deal.

Neelakantha Bhanu, Co-Founder and CEO of Bhanzu stated, "This gap presents a tremendous opportunity for Bhanzu to revolutionize math teaching in the US."

Although Bhanzu has not yet submitted its FY24 annual financial statements, the company's operating revenue increased by more than 13 times to Rs 47.33 crore in FY23. In FY23, the company's losses also increased by about 18 times, reaching Rs 70.99 crore.

Cuemath, Unacademy, Adda247, and Skillmatics are its competitors.