Partners in the News
FarMart gets $10-million funding from Matrix Partners India, others
FarMart, a SaaS-led food supply platform, raised $10 million in a funding round led by Matrix Partners India. Innoven Capital as well as existing investors Omidyar Network India, Avaana Capital, and 500 Startups also participated in the fundraising.
The capital will be used by the agritech startup to expand its distribution network across the country, scale product capabilities and grow the team.
Read more here.
LoanTap announces debt listing on BSE, raises more than Rs 100 crore
LoanTap, a homegrown digital lender has announced its debt listing with BSE. With this listing, LoanTap aims at diversifying its borrowing profile by giving them a competitive advantage in terms of cost of borrowings and asset liability management.
In last five months, LoanTap has raised more than Rs 100 crores through issuances of debt products.
Terra.do Brings Climate Learning To Software Engineers
Terra.do, a climate education and career transition platform with the mission to get 100 million people working on climate by 2030, has introduced a new course for software engineers. The program intends to educate software engineers on critical industry sectors that need software skills to have a massive positive impact on climate change.
Loantap expects to increase disbursals to Rs 1,000 cr this fiscal
Digital lender Loantap that’s only into personal loans, expects to take its disbursal to Rs 1,000 crore this fiscal, up from Rs 370 crore last year, given the higher demand for home improvement loans, electric two-wheelers and pandemic-related medical expenses. The Pune-based company, founded in 2016, has so far disbursed Rs 650 crore to over 33,000 customers, of which Rs 370 crore are live now, up from Rs 330 crore in FY19. Since the pandemic it has disbursed over Rs 105 crore of Covid-19 loans to meet medical expenses.
These IIT graduates built a tech-enabled egg farming company, now sell 4M eggs a month
For Eggoz, leveraging technology is the “core of its business.” The company has built a simple, easy-to-use, and vernacular app for the farmers, which helps them enter data related to their farms. The app also helps farmers to interact with doctors and get guidance on chicks that are sick or infected. Eggoz also installed IoT devices in the fields, which are used for measuring several parameters, including humidity, temperature, ammonia concentration, and more.
Elda Health raises seed funding of $1.5M from Avaana Capital, Orios Ventures, and Ananth Narayanan Family office
Elda Health, a women-led one stop holistic health platform for the mid-age urban woman, has announced it has raised $1.5 million in a seed round from Avaana Capital, Orios Ventures, and Ananth Narayanan Family Office.
Bank of Maharashtra ties up with LoanTap Credit for co-lending to MSMEs
Avaana-backed digital fintech lender LoanTap Credit has entered into a co-lending arrangement with the Bank of Maharashtra for MSME loans. LoanTap offers personal, business and vehicle loans through a digital platform in a fast, seamless and hassle-free manner. The pandemic has severely hit the MSME sector, requiring customized financing solutions to help sustain companies in this transformed environment and retain their associated livelihoods.
Covid-19 a boon for Indian bicycle industry? AlphaVector bike sales rise five times during pandemic
E-bike startup AlphaVector saw its sales grow 5x as people took up cycling to remain fit and healthy in a socially distanced world. With the e-bicycle market expected to take off in India, the company’s offering, Meraki, targets millennials and Gen Z consumers with a more sustainable mobility alternative. The e-bike is 100% indigenously developed. Read more here.
Agritech startup FarMart raises $2.4M in pre-series A round led by Omidyar Network India, Avaana Capital
FarMart aims to make the entire value chain – from input to output – streamlined and remunerative. It does so by leveraging technology, the trust of the agri-business communities, and optimising under-utilised assets of the retailers.
Demand for eggs bounces back in COVID second wave
There has seen huge surge in demand for branded and Eggoz eggs in the past few months since the onset of second wave of covid pandemic. Eggoz branded business has grown by more than 100% month-on-month over the past few months.
Eggoz has launched an enriched variant called Nutraplus where two eggs can fulfill daily recommended intake of Vitamin D and B12 among other vitamins.
