The Week that Was: Indian Startup News Overview (18th March - 22nd March)

The Week that Was: Indian Startup News Overview (18th March - 22nd March)

The Indian startup ecosystem has set a new record by bagging another round of funding in a few sectors like HealthTech, Clean-tech, Food-Tech & Jewelry-tech marking 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 Fresh Funding to series A to series D & others.

Sector: HealthTech

Funding Round: Fresh Fund Round

Startup: Ultrahuman

Established Year: 2019

Funding News: Health-tech startup Ultrahuman Secures a Fresh Fund of $35 million

Health-tech startup Ultrahuman has raised a fresh fund of $35 million in a funding round with a mix of equity and debt investment.

Investors: The funding was sourced from Blume Ventures, Steadview Capital, Nexus Venture Partners, Alpha Wave Incubation and Zomato founder Deepinder Goyal.

The health-tech startup Ultrahuman was started by Mohit Kumar and Vatsal Singhal, who were also the co-founders of Runnr. Later the company Runnr was merged with prominent food delivery giant Zomato.

Ultrahuman witnessed this fresh funding round after two long years after its previous funding of $17.5 million Series A round in October 2022, led by Alpha Wave, Steadview Capital, Nexus Venture Partners, Blume Ventures and others.

Mohit Kumar, the co-founder of Ultrahuman, said, "This funding round marks a pivotal step forward in our journey to dominate the smart rings space, bringing us closer to our goal of being the market leader."

Sector: Clean -Tech

Funding Round: Series A

Startup: Fluid Analytics

Established Year: 2016

Funding News: Visioning World Economic Forum's Mission: Fluid Analytics raises Pre-Series A funds worth $1.6 million

Fluid Analytics announced a new funding partner beginning their Pre-Series A funding round of $1.6 million and further enhancing their portfolio of investors.

Investor: Pravega Ventures, who is joined by an angel investor. 

Fluid Analytics is a cleantech startup deploying data analytics for solving urban water pollution. It was founded by Nidhi Jain, an Acumen fellow, and Asim R. Bhalerao, who serves as the company’s CEO. 

“Given the escalating stress on water systems worldwide due to climate change and population growth, Fluid Analytics offers a distinctive strategy to bolster cities' water resilience,” said Mukul Singhal, co-founder, and partner at Pravega.

Sector: Food-Tech

Funding Round: Series D

Startup: Curefoods

Established Year: 2016

Funding News: Three state ventures invests 200 cr in 'Curefoods' to build on operational excellence

Flipkart Co-founder Binny Bansal’s Three State Ventures has reportedly invested an amount of 200 crores in Accel Backed cloud kitchen startup Curefoods. With this funding, the total funds invested by the fund has moved to 500 crores at a post-money valuation of around 3,000 crores.

As per the statement of founder and CEO of Curefoods Ankit Nagori, the company raised $36 million in the first tranche of Series D and is now valued at $375 million.

Investors: Three State Ventures

Curefood was founded by a former Flipkart executive, Ankit Nagori in Bengaluru. The company has notable competitors like Rebel Foods, Biryani by Kilo, and EatClub (formerly Box8). It has taken over old brands to help them scale with technology and digital marketing.

Recently, the company has closed its series C funding round $50 million from a mix of new and existing investor.Curefoods operates food brands like EatFit, Yumlane, Aligarh House Biryani, Masalabox and CakeZone.

Sector: Jewelry-tech

Funding Round led by: JITO Incubation and Innovation Foundation (JIIF)

Startup: Jewelbox

Established Year: 2022

Funding News: Lab-Grown Diamond Jewelry Startup Jewelbox seals 3.5 Crore Fund from JIIF

Diamond Jewelry Company based in Kolkata, Jewelbox has productively completed a funding round by securing 3.5 crores. 

Investor: JITO Incubation and Innovation Foundation along with the presence of close family members & friends.

Established by Nipun Kochar & Vidita Kochar, the Jewelry startup Jewelbox has rapidly came out as an expert in crafting beautiful & delicate jewelry using lab-grown diamonds. The injection of raised funds will bolster the expansion strategies of the startup, focus on building teams & the craft the foundation for additional stores in India.

Expressing his confidence on this investment, Rajat Mehta, Chairman, JITO Incubation & Innovation Foundation says, “Jewelbox’s innovative approach in exquisite crafting jewelry with lab-grown diamonds resonates with today’s conscious consumer trends. We believe that their dedication to quality and sustainability will drive remarkable growth in the industry, enhancing both quality and sustainability”.

In a recent episode of Shark Tank India Season 3, lab-grown diamond brand Jewel Box has captured the interest of both the panel of judges and the audience alike.

Sector: HealthTech

Funded by: Shark Tank India

Startup: FlexifyME

Established Year: 2021

Funding News: Pune-based HealthTech Startup FlexifyME secures 1 crore in Shark Tank India

Pune based Healthtech Startup FlexifyME, which is providing a chronic pain management platform which perfectly combines physiotherapy, yoga, and artificial intelligence (AI) and deliver a customer centric approach in health and wellness segment, received 1 crore in the stage of Shark Tank India.

Investor: Namita Thapar of Emcure Pharmaceuticals, Shark Tank India

The company was started by Amit Bhayani and Manjeet Singh, who came to the Shark Tank India and asked for 1 crore for a 2% stake, valuing the startup at a robust 50 crore.

The startup offers a subscription plan that ranges in price, with an average cost between 6,000 and 16,000 for a six-month period. This subscription includes 25 live sessions with a physiotherapist, along with a customized plan.

The health-tech platform was founded to undertake chronic pain management, where they have combined their expertise of chronic pain through an innovative blend of physiotherapy, yoga, with artificial intelligence. In its first year, they attracted over 50,000 customers, including 2,000 subscribers from more than 26 countries, demonstrating a significant market demand for innovative solutions in the chronic pain management sector.

In the year 2023, the health-tech platform specialized in helping people manage chronic pain has successfully secured $1 million in investment from Flipkart Ventures, the investment arm of Flipkart.