The Week that Was: Indian Startup News Overview (6th May - 10th May)
The Indian startup ecosystem has set a new record by bagging another round of funding in a few sectors like Tyre recycling, Chemical Manufacturing, Food-tech & Artificial Intelligence 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 Seed Funding to Pre-Series A to Series A to Series B.
Sector: Tyre recycling
Funding Round: Fresh Funding
Startup: Regrip
Established Year: 2021
Funding News: Sunil Shetty Backed startup Regrip bags $2 million in a Fresh Funding round
Bollywood star Sunil Shetty backed tyre recycling startup, Regrip has just secured $2 million in a fresh funding round. The startup is also backed by the Government of Rajasthan, and the Union Ministry of Electronics and Information Technology (MeitY).
Investors: MeitY, Qatar-based venture capital Sirious One, Inflection Point Ventures and Let's Venture
The startup was founded by Tushar Suhalka, who is aiming to build a strong network of discarded tyre collection centres.
The founder of Regrip, Tushar Suhalka said, "This investment will enable us to expand our technological capabilities and bolster our efforts in building a robust collection network for discarded tyres across the nation. Our goal is not just to revolutionize the tyre recycling industry but also to make a significant impact on the environment."
The startup is targeting to develop world’s first solution to predict the life and price of old tyres just like you can cashify your old tyres. The freshly received funding will help the company to develop innovative technology with the tyre companies and they also want to strengthen its collection network.
Sector: Chemical Manufacturing
Funded Round: Seed Funding
Startup: Atomgrid
Established Year: 2023
Funding News: Specialty chemicals startup Atomgrid nets 
10 crore in Seed Funding round
10 crore in Seed Funding round
Specialized in the areas of manufacturing & sourcing of the specialty chemicals, Atomgrid has lifted 10 Cr in a Seed funding round
10 Cr in a Seed funding round
Investors: Merak Ventures, Upsparks, Dexter Ventures, Point One Capital & Nitin Gupta & Prateek Jindal, Co-Founders of UniCards.
The startup fosters to standardize its position in the market as a vital center for specialty chemicals & quicken the exports of chemicals from India.
Also, the startup intents to utilize these fresh funds to develop its internal infrastructure of research & development, intensify its outreach in global stage, design an exclusive supply chain tech platform & recruit teams across the diverse areas such as business development, R & D & project executions.
Established by IIT-BHU alumni Lakshit Bansal, Siddharth Gupta & Pratik Chowdhury, Atomgrid serves to three diverse sectors including agriculture, pharmaceuticals & specialty chemicals for various needs such as manufacturing.
Sector: Food-tech
Funding Round: Pre-Series A
Startup: POSHN
Established Year: 2020
Funding News: AI-driven Food-tech Startup POSHN receives $6 million in a Pre-Series A
POSHN, a Delhi based Food-tech startup has raised $6 million in a Pre-Series A round. Additionally, the startup secured $4 million in equity & $2 million
Investors: Prime Venture Partners & Zephyr Peacock India
POSHN will utilize this fresh funding from the investors to generate its solution stack. Concentrating on export & import categories in Southeast Asian and Middle Eastern nations, the startup plans to strengthen its presence in the global market.
In the year 2022, the POSHN raised $4 million in equity in a seed funding round directed by Prime Venture Partners & Zephyr Peacock. Addition to that, the startup has collaborated with several banks & NFBCs, ICICI Bank, Alteria Capital, UCIC, Northern Arc, Blacksoil, & Capsave to accomplish its debt requirements.
Established in 2020 by Bhuvnesh Gupta & Shashank Singh, Poshn functions as an extensive processed commodity & funding platform to improve the trading efficiency in the agricultural wholesale sector.
Sector: Food-tech
Funding Round: Series A
Startup: Superplum
Established Year: 2019
Funding News: Digital Fruits Supply Chain Startup Superplum lifts $15 million in Series A
India’s first digital fruit supply chain that connects the best local farms to the world, Superplum has secured $15 million in Series A funding round
Investors: Erik Ragatz, Dan Rose, Steve Jurvetson, Mark Siegel, Kabir Misra, Rick Kimball & Binny Bansal
According the press release, the acquired funds will be permitting the startup Superplum to continue to construct its enterprise infrastructure & quicken its journey to renovate the fresh produce supply chains in India.
Established in 2019 by Shobhit Gupta, Superplum has generated a direct-from-farm produce supply chain using exclusive technology & cold-chain infrastructure to enhance how produce is grown & gotten to the market. Superplum expands the shelf lives & improves the quality of fruit, reduce the food waste & amplify the income of the farmers.
In the month of June 2021, the Noida-headquartered startup Superplum raised $3.8 million in its Pre-series A round & to date, the company has raised $22 million.
Sector: Artificial Intelligence
Funding Round: Series C
Startup: Atlan
Established Year: 2018
Funding News: AI based data Driven Startup Atlan grabs $105 million in Series C Funding round
A data democratization company Atlan has witnessed an influx of $105 million in its Series C funding round
Investors: GIC, Meritech Capital, Salesforce Ventures, Peak XV Partners.
Prukalpa Sankar, co-founder of Atlan, expressed his gratitude towards the investors and said, “Over the past year, boards have consistently asked their CIOs and CDOs about their AI roadmaps, who have realized that the main hurdle isn’t AI models but the lack of AI-ready data enriched with business context, trust, and security. Atlan is addressing this by building the control plane for the data and AI stack, integrating trust and context into the digital fabric.”
The company helps large teams large to collaborate smoothly on data projects, and create a single source for all their data assets with deep integrations with tools like Slack, and data warehouses like Snowflake, Redshift, and others. The company’s customer base today includes industry giants like Cisco, Autodesk, Unilever, Ralph Lauren, FOX, News Corp, Nasdaq, NextGen, Plaid, and HubSpot. Atlan controls the data management, uniting data producers and consumers throughout the organization.
Previously, in another fundraising session, the company has raised $27.5 million tranche in March. In March 2023, it also bagged $50 million Series B round. During May 2021, it raised $16 million in series round led by Insight Partners. Taking account of Atlan’s total raised fund, they have secured more than $206 million.
