Source: Viestories
Fund injections demonstrate the endless new startups in India. They include even those in tech-driven startups and brands focusing on consumers. The items range from precision drones to street-smart momos; investors are truly betting a very wide spectrum of innovations. For these start-ups scaling up to greater heights, funds are expected to propel product development, market penetration, and extra-territorial ambitions.
1. Uniqus Consultech, Mumbai
Funding Raised- $20 million
Investor- Nexus Venture Partners, Sorin Investments
Sector- Consulting, ESG
Overview: Uniqus Consultech, founded in 2020 by consulting veterans Jamil Khatri and Sandip Khetan, aims to redefine consulting for the modern times. This includes accounting, reporting, finance operations, governance, ESG, risk management, and tech-enabled consulting. The firm focuses on value-driven transformations for innovative clients. The new funding will help scale the integrated, innovation-led approach to transformation across the sector.
2. Wow! Momo, Kolkata
Funding Raised- $15-18 million
Investor- Kamal Agrawal (Haldiram promoter family), Khazanah Nasional
Sector- Quick Service Restaurants (QSR)
Overview: Wow! Momo was founded in 2008 by Sagar Daryani and Binod Homagai started from a single kiosk and has Today grown into a leading QSR brand in India with a chain of 680 outlets spread across the country. The company operates four major verticals: Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi. With the fresh capital infusion, the company hopes to expand its horizon and consolidate its foothold in light of heavy competition in the QSR segment.
3. Vayudh- New Delhi
Funding Raised- $10 million
Investors- Dharana Capital, Deepinder Goyal, Ajay Aggarwal, Sumit Jalan, LetsVenture, Navam Capital
Sector- Defense Technology
Overview: Doing research and development on indigenous drone technologies for ISR (intelligence, surveillance, reconnaissance) applications is what Vayudh, the defense arm of IIT Delhi’s BotLab Dynamics, does. The startup was established in 2016 by three founders: Tanmay Bunkar, Anuj Barnwal, and Dr. Sarita Ahlawat. It has since clocked over 300,000 autonomous flying hours and launched India’s first nano surveillance drone, named Atri. This funding will help in its next growth phase in advanced defense technologies.
4. FarMart-Gurugram
Amount Raised: US$ 10 million
Investor: GC India Investment Holdings, Matrix Partners India (Z47), Strides Ventures, Trifecta Venture
Domains: Agri-Tech; B2B Food Commerce
Overview: Launched by Alekh Sanghera and Mehtab Hans in 2015, FarMart connects the supply chain of Indian agriculture through this B2B platform. The purpose is to remove transport inefficiencies and improve profitability at the farm level by connecting local buyers and sellers. Based out of north-central India, where it has a stronghold, the startup is going to spend this new fund to further drive its push into the southern region.
5. BankBazaar, Chennai
Funding Raised: $6.44 million
Investor: Muthoot Fincorp, Walden International
Sector: Fintech
Overview: BankBazaar, founded in 2008 by Adhil Shetty, Arjun Shetty, and Rati Shetty, is the leading online financial market, offering customers customized credit cards and loans. The company’s recent foray into gold loans, in partnership with Muthoot Fincorp, is indicative of an expanding base in India’s digital lending space.
Conclusion
Funding activities this week just underscore India’s growth in the startup ecosystem, with capital moving into sectors such as defense technology, agri-tech, consumer goods, and fintech. With investors having faith in scalable and modern solutions, these startups will grow, evolve, and lead their sectors in the coming years.
