The Indian startup ecosystem has set a new record by bagging another round of funding in a few sectors like Fintech, HR-tech, Smart Architecture, NBFC & Travel 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 New to Seed to Debt to Bridge funding round.

Sector: Fintech

Funded Round: New Funding round

Startup: Stable Money

Established Year: 2022

Funding News: Fintech Startup 'Stable Money' gains $15 million in new Funding round

Stable Money, a wealthtech startup, has raised nearly $15 million in a new round. Especially during the so-called funding winter, the Bengaluru-based company has become one of the few startups to close two rounds within a year. 

Investors: Matrix Partner, Lightspeed India, & RTP Capital

In its first equity fundraise, Stable Money, led by Matrix Partners and Lightspeed, raised $5 million in August 2023. Titan Capital, Mar Shot Ventures and a grasp of noticeable private backers also partook in the round. Stable Money, according to the startup data intelligence platform TheKredible, the company’s worth approximately $55 million after funding. This is more than three-fold bounce in valuation from $16.5 million in the last round.

Stable Money, which Saurabh Jain and Harish Reddy established at the end of 2022, is building an investment platform with a fixed return to offer investors financial advice. To raise investor awareness, the platform will also publish content on financial literacy on its online platform. In the current calendar year, a number of wealthtech startups have been successful in obtaining adequate funding. 

Sector: HR-tech 

Funding Round: Seed round 

Startup: Umwelt.AI

Established Year: 2023

Funding News: HR-tech Startup 'Umwelt.AI' mops-up $125K in Seed Funding round

Umwelt.AI, a HR technology platform has successfully received $125K from a seed funding round. Umwelt.Ai, which the industry veteran Vishal Chopra established in 2023, is a solution for people analytics and employee experience that goes beyond conventional HR methods. It helps other businesses raise their employee response rates and employee net promoter scores (ENPS), which leads to a more engaged workforce. 

Investors: Upekkha

The company, which has its headquarters in Faridabad, claims that it enables CEOs and HR leaders to listen to, analyze, and respond to employee feedback in real time by making use of advanced analytics, chatBot technology, and behavioral science.

According to a press release, the raised funds will be used to expand Umwelt's global presence and provide powerful solutions to businesses in a variety of industries. Last year, the business had previously raised $125,000 from an existing investor in a pre-seed round. Umwelt.AI claims to have served Allsec BPO, Quess Corp., Vero Moda, Jack & Jones, and Foundit. It faces competition from startups like Amara.ai, infeedo, Leena.AI, and others in this industry.

Their products include continuous engagement, journey-based engagement, periodic engagement, one time engagement, and post exit engagement. Similarly, their services include reduce attrition, continuous employee experience analytics, culture transformation, eNPS, HR Analytics and so on. Sector: Smart Architecture 

Funding Round: Seed round

Startup: nhance.ai 

Established Year: 2016

Funding News: Smart Architecture focused nhance.ai. secures $1.5 million in Seed Funding Round 

High-net-worth individuals (HNIs) have invested $1.5 million in nhance.ai as part of a seed funding round. The startup will utilize the raised capital to drive product development, hire top talent, and explore strategic partnerships.

Investors: HNIs - High-net-worth individuals

Specifically, nhance.ai plans to expand its team by recruiting experts in software development and analytics, fast-track product development to introduce new features and integrations, boost marketing efforts to enhance brand visibility and attract new customers, and seek strategic partnerships to broaden its ecosystem and offer additional value to its customers.nhance.ai aims to shape the future of the built environment with its nhanceTwin platform, which provides businesses with comprehensive visibility into building performance and actionable insights through machine learning and artificial intelligence. 

The Co-Founder and Chief Product Officer, Krishna Prasad mentioned, "Our goal is to empower businesses with the tools they need to succeed in today’s fast-paced digital environment. We are committed to delivering a platform that not only meets but exceeds the expectations of our customers."

The Managing Partner at Katalyst Advisors, Ketan Dalal said, “We are excited to associate with nhance as they continue to innovate and enable the smart building space. Their unique approach and dedicated team position them for significant growth and success."

Sector: NBFC

Funding Round: Debt round

Startup: Auxilo

Established Year: 2017

Funding News: Education Loans-providing Startup 'Auxilo' bags 100 crore in Debt round

In a debt financing round, education-focused NBFC - Non-banking financial corporation Auxilo secured 100 crore, or approximately $12 million. 

Investors: Dezerv Securities & LeapFrog Investments.

Dezerv Securities contributed 26.39 crore, while CredAvenue Securities (Yubi) and MAS Financial Services each contributed 25 crore. The equilibrium sum will be delivered by the financial backers soon.

The debentures issued to Dezerv have a tenure of 29 months and an annual coupon rate of 9.90%, whereas the NCDs issued to MAS Financial and CredAvenue (Yubi) have a tenure of 36 months and an interest rate of 9.65 percent.

LeapFrog Investments, a private equity firm, led Auxilo’s $33.6 million funding round at the same time as this development.

According to Auxilo, LeapFrog contributed $30 million while Trifecta Leaders Fund I and Xponentia Opportunities Fund II siphoned in the leftover capital.

It would appear that the current debt funding is distinct from the most recent announcement. Auxilo has raised around $145 million across equity and debt since its origin including a $57 million funding round directed by Tata Capital Growth in July last year.

Auxilo offers education loans for pursuing after education inside India or abroad. It additionally stretches out advances to instructive establishments for foundation and working capital necessities. 

Sector: Travel

Funding Round: Bridge round

Startup: Nasher Miles

Established Year: 2017

Funding News: Modern Luggage Brand ‘Nasher Miles’ bags $4 million from 40 Investors

Digital first Luggage startup Nasher Miles has lifted $4 million in a bridge funding round at a post money value of $30 million. The funding round registered a participation from more than 40 investors. 

Investors: Narendra Rathi (SoftBank Vision Fund), Sulabh Arya (Goldman Sachs Growth Equity), Singularity Early Opportunities Fund and Mohit Goyal (ex-CVC Capital Partners).

The travel brand plans to utilize the freshly raised funds to maximize its offline presence up to 1000 multi-brand outlasts across the India by the end of the calendar year and open 3-5 exclusive brand outlets within the present fiscal year. 

In addition, the startup intends to boost its presence in quick commerce in chosen cities and fuel its capacity on domestic manufacturing to 70-75% by the month of December 2024.

Regarding this, Lokesh Daga, Co-Founder of Nasher Miles states, "Our goal is to become a true omnichannel brand present across all possible sales channels in India”.

Established in 2017 by Abhishek Daga, Shruti Kedia Daga & Lokesh Daga, Nasher Miles presents a various range of travel gear.

The product catalogue of startup includes outdoor travel bags, corporate bag packs, laptop roller cases and many other essential accessories such as neck pillows, masks, luggage covers and backpack rain covers.