The startup industry in India is composed of startups and investors who possess knowledge and skills in various sectors. Although not everyone may have the resources to establish a startup, the flourishing startup environment in India has piqued the interest of many investors. Knowing this ecosystem is essential since Indian businesses have the ability to attain worldwide triumph, providing investors with substantial gains on their investments.

During this week, Indian entrepreneurs astounded us with their impressive achievements. A few of them secured millions of dollars in investments and acquired other businesses, while others focused on expanding their presence across various new locations. This week, Avanti Finance, a tech-enabled non-banking finance firm, said it has raised $24 million from Rabo Partnerships and IDH Farmfit Fund, among others, BlackSoil, a platform for alternative finance, claimed to have raised over $25 million through its variety of loan products and the SaaS start-up Apptile, which specializes in no-code mobile app development, has raised $2.5 million in a seed funding round.

Listed below are the top five startups that have demonstrated remarkable success during this week!

Avanti Finance

Avanti Finance, a tech-enabled non-banking finance firm, said it has raised $24 million from Rabo Partnerships and IDH Farmfit Fund, among others.

While Rabo Partnerships, a completely owned subsidiary of the Dutch bank Rabobank Group, is focused on financial inclusion and rural development, IDH Farmfit Fund, an impact fund, is focused on smallholder farmers.

Returning investors in the funding round included Oikocredit and Nandan Nilekani’s family office NRJN Trust. The funding is in line with Rabo Partnerships’ focus on providing data-driven finance solutions to smallholder farmers through local cooperatives and service providers.

BlackSoil

BlackSoil, a platform for alternative finance, claimed to have raised over $25 million through its variety of loan products, 60% of which were repeat investors in the most recent capital raise. In addition to the $35 million that BlackSoil raised in the first half of FY23, the money. The business has recently made investments in cutting-edge industries like deep technology, online travel agencies (OTAs), battery switching, and health technology.

Ankur Bansal, co-founder of BlackSoil, stated, "We have seen a considerable interest from investors, and we are sure that our robust portfolio performance in the current funding winter environment will continue to draw investors in the years to come.

New-age industries including battery swapping (Battery Smart), OTA travel (Yatra.com), discount broking (Upstox), healthtech (HealthPlix), deeptech (Tonbo Imaging), and fintech unicorn are just a few of the major investments Blacksoil has made recently (MobiKwik). BlackSoil presently oversees an alternative credit ecosystem with $270 million invested across 135 transactions.

Ossus Biorenewables

Gruhas and Rainmatter Climate have contributed $ 2.4 million to the pre-Series A round of funding for Bengaluru-based green energy firm Ossus Biorenewables. Ossus Biorenewables is a bio-energy company that uses the chemical content of oil and gas industry effluents as a source of decentralised power. It was founded in 2017 by Suruchi Rao, Shanta Rao, and Kamar Suhail Basha.

In order to produce green hydrogen, the company has created bioreactors that employ the waste carbon found in industrial effluents as the primary raw material. The bioenergy company currently collaborates with steel, starch, and energy companies to create hydrogen gas, and it has expansion aspirations for other process industries as well. At the end of the year, the Bengaluru-based green energy business intends to manufacture three to five tonnes of green hydrogen every day.

Zyod

Zyod, an online marketplace for sourcing and manufacturing garments from businesses, announced that it has secured $3.5 million in seed capital from a round that was co-led by Lightspeed Venture Partners. FJ Laboratories, Panthera Peak Capital, and a limited group of angel investors, including Ravi Khandelwal, the founder of Yufta, Abhishek Goyal, the founder of Tracxn, and Abhinav Sinha, the global COO of Oyo, also participated in the seed round.

Zyod plans to use the funds to improve technology and hire more people. From adding more manufacturers and suppliers to introducing new features, the company will continue to focus on building a larger network of MSMEs in the apparel sourcing and manufacturing segment.

Apptile

SaaS start-up Apptile, which specializes in no-code mobile app development, has raised $2.5 million in a seed funding round. The round was led by the Mankekar Family Office and Ramakant Sharma, founder of Livspace.com. The funds will be used to launch its innovative platform, allowing Shopify businesses to create customised, high-performance mobile apps without the need for coding or design experience, the company said.

"During the past 15 years, the development of mobile apps has lagged behind the growing use of mobile devices. According to Rohit Modi, co-founder and CEO of Apptile, "We firmly believe in the potential of mobile apps as a retention channel, on par with email and SMS. With its most recent round of funding, the start-up also has plans to grow its staff and improve the platform it provides to companies looking to take advantage of the mobile market.

"I'm pleased to be a part of Apptile's mission to democratize mobile apps, enabling companies of all sizes to design unique, mobile-first experiences for their clients. This has only been the domain of huge brands up until now due to the difficulty and expense of developing and maintaining mobile apps, according to Ramakant Sharma.

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