Source: 123RF
Kirana tech, clean farming, faith apps, and eco-packaging startups secured huge investments this week
This week India’s startup ecosystem has continued to flourish, with more big investments made into the ecosystem for companies working in retail tech, agritech, sustainability and digital faith services. Lets face it, these startups are solving real problems – from enabling local, small shops to go digital to providing alternatives to single-use plastics. Let’s take a look at the biggest funding deals this week.
Jumbotail
Founded: 2015 | City: Bengaluru
Founders: S Karthik Venkateswaran and Ashish Jhina
Funding: $120 million
Investors: SC Ventures, Artal Asia
Jumbotail enables small kirana (grocery) shops to modern digital business. Jumbotail offers online ordering, logistics, warehousing and now J24, a full retail system. This financing increased Jumbotail’s status to a unicorn in India.
Eggoz
Founded: 2017 | City: Gurugram
Founders: Abhishek Negi, Aditya Singh, Uttam Kumar
Funding: $20 million
Investors: Gaja Capital, IvyCap Ventures, NABVENTURES, and others
Eggoz is a high quality egg manufacturer that employs safe and clean farming practices. They sell brown eggs, white eggs, and Nutra eggs, in addition to various egg-based foods like nuggets and burgers. The startup is sure to deliver true farm-fresh to customers.
AppsForBharat
Founded: 2020 | City: Bengaluru
Founder: Prashant Sachan
Funding: $20 million
Investors: Susquehanna Asia Venture Capital, Peak XV Partners, Elevation Capital
AppsForBharat operates Sri Mandir, a faith app that allows users to get offerings, perform online pujas, have prasad shipped to their home, and even watch devotional videos. It is an example of tradition through technology and quite popular spiritual platforms in India.
Aukera
Founded: 2023 | City: Bengaluru
Founders: Lisa Mukhedkar and Kumar Saurabh
Funding: $15 million
Investors: Peak XV Partners, Fireside Ventures, Alteria Capital
Aukera is a jewelry brand that provides lab-grown diamonds that are IGI certified and sustainable. Aukera has 13 retail locations in major cities to provide stylish and sustainable options for consumers today.
Bambrew
Founded: 2019 | City: Bengaluru
Founder: Vaibhav Anant
Funding: $10.3 million
Investors: Ashok Goel, ENRISSION INDIA CAPITAL
Bambrew manufactures packaging products with the use of bamboo fiber, farm waste, and recycled paper. Its objective is to eliminate single-use plastics and assist companies in attaining their goals of going green.
Eeki
Founded: 2018 | City: Kota
Founders: Abhay Singh and Amit Kumar
Funding: $7 million
Investor: Sixth Sense Ventures
Eeki grows crops in climate-controlled farms without soil. The vegetables are grown pesticide-free, and the startup turns dry or abandoned land into productive farms.
Zango AI
Founded: 2024 | Cities: Bengaluru and San Francisco
Founders: Ritesh Singhania and Shashank Agarwal
Funding: $4.8 million
Investors: Nexus Venture Partners, South Park Commons, and others
Zango AI utilizes artificial intelligence (AI) to help organizations comply with governmental rules and regulations. The software can automate functions such as scanning government rule changes, and determining if there are any risks.
Most Important Trends
- Technology for smaller retail like Jumbotail is receiving very strong investment
- Sustainable farming and clean food is attracting investment and new capital.
- Digital faith services like Sri Mandir are rapidly growing.
- Interest in eco-friendly products is coming forward for investors.
Summary: This week’s funding activity shows that Indian startups are finding intelligent ways to solve everyday problems. From smarter farming to digital prayer to more ethical diamonds, these startups will impact the future of the economy in India.
