Funding news

Beyond Appliances raises $2M in seed funding 

Beyond Appliances, a smart kitchen appliance brand, raised $2 million in a seed funding round led by Fireside Venture Investment Fund III. 

The round also saw participation from Dharana Capital and notable angel investors, including Shezan Bhojani (Founder, Design Cafe), Saurabh Jain and Ramakant Sharma (Co-founders, Livspace), and Chandru Kalro (former CEO, TTK Prestige). 

The firm, founded in 2024 by Eshwar K Vikas and Rakesh Patil, will use the capital to accelerate its technology development and manufacturing capabilities. Beyond Appliances’ products are available on major ecommerce platforms, including Amazon and Flipkart, and select retail stores across Bengaluru. 

The company in a statement said it holds multiple patents and plans to expand its product portfolio with eight innovations within existing categories before venturing into new segments.

Homegrown food brand Indic Wisdom raises $2M in pre-Series A round

Indic Wisdom, a Mumbai-based manufacturer of high-quality wood-pressed oils, raised $2 million in a pre-Series A round led by Rockstud Capital and other investors.

Founded by Prajakta Khare and Kaustubh Khare, Indic Wisdom offers a comprehensive product range, including cooking oil, multipurpose oil, and speciality oils.

Other news

Digital real estate platform AltDRX appoints new CMO, CPO 

AltDRX, a digital real estate investment platform, appointed Manisheel Gautam as the Chief Marketing Officer (CMO) and Head of Customer-Facing and Shikhar Daydar as the Chief Product Officer (CPO).

Gautam, an IIT Bombay and IIM Ahmedabad alumnus, previously worked at Ola and contributed to the company’s growth from 2014 to 2021 in marketing, category management, and international expansion. He later co-founded Investorey, a platform for alternative investments, raising $1 million in seed funding.

Daydar, also an IIT Bombay graduate, brings expertise in product development and data analytics. He also worked at Ola from 2015 to 2019, focusing on revenue management and product development, and was part of the team that launched Ola Micro.

At Mobile Premier League, he developed skill-based matching systems and optimised fantasy sports events, enhancing revenues and contest sizes.

Collective Artists Network’s Galleri5 unveils AI-powered suite 

New media conglomerate Collective Artists Network introduced the Galleri5 AI-powered suite for brand marketing. 

The platform combines advanced technology with cultural intelligence to streamline content creation, identify emerging trends, and provide real-time insights, helping brands connect with audiences more effectively, the company said in a statement.

Its core feature is its ability to generate hyper-realistic catalogue visuals from basic product images, eliminating the need for traditional photoshoots. Galleri5 also includes a social intelligence module for analysing audience sentiment and campaign performance. The trend discovery tool identifies emerging topics across social media, helping brands stay ahead. 

The company has partnered with top social platforms, including over 50 leading brands.

(This article will be updated with the latest news throughout the day.)

Tata Digital, which operates the Tata conglomerate’s ecommerce super app Neu, has rolled out quick commerce services under Neu Flash in select pin codes and cities.

While Tata’s BB Now already offers groceries and daily essentials in the quick commerce format, Neu Flash features more categories, including apparel, electronics, beauty and personal care, along with groceries.

According to a media report, the service is being powered by the company’s existing hyperlocal operations of BigBasket.

This comes just days after fashion ecommerce platform Myntra initiated pilots for its quick delivery initiative under M-Now, which delivers products from under 30 minutes to 2 hours. The selection currently features brands such as Mochi, Wrangler, Metro, Being Human, and Lavie.

With consumers looking at quick commerce for categories beyond groceries, and even for higher ticket purchases, ecommerce platforms are launching their own quick commerce initiatives.

According to a report by The Economic Times, Amazon India is keen to accelerate the launch of its quick commerce arm, under the name Tez. The ecommerce giant has already started hiring for this initiative.

Last week, quick commerce unicorn Zepto raised additional funding of $350 million in a round led by Motilal Oswal’s Private Wealth division, along with investment from Indian HNIs and family offices. The round came three months after Zepto closed its extended capital infusion of $340 million at a valuation of $5 billion. This is the company’s third round in the last six months, taking its total fundraise this year to $1.35 billion.

Tata Capital Healthcare Fund II on Monday said it deployed 90% of its corpus across the healthcare and life sciences value chain, including in pharmaceuticals, healthcare delivery, and healthtech, raising over $200 million in two fund vintages.

In FY24, TCHF II impacted 1.7 million health beneficiaries (18% YoY growth), created 41 jobs per $1 million invested, expanded its workforce to 6,350 employees (14% growth), and increased women employees by 30%, who now make up 27% of the workforce across nine portfolio companies, it said in a statement.

“TCHF II continues to be a catalyst for meaningful change, addressing India’s critical healthcare needs. With a steadfast commitment to measurable impact, we work with portfolio companies to improve their ESG performance, integrate sustainable practices, and enhance operational efficiencies. These milestones reflect TCHF’s unwavering commitment to building a healthier, more inclusive, and sustainable future through its portfolio network,” said Visalakshi Chandramouli, Managing Partner, Tata Capital Healthcare Fund II, in a statement.

Tata Capital Healthcare Fund (TCHF), a private equity fund in India’s healthcare and life sciences sector, is sponsored by Tata Capital Limited, a Tata Sons subsidiary. With $200 million raised across TCHF I (2012) and TCHF II (2022), the funds have collectively invested in 18 companies and exited seven successfully.

It has deployed investments in nine companies, including Linux Laboratories, Sakar Healthcare, Orbicular Pharmaceuticals, Atulaya Healthcare, Anderson Diagnostics, Deeptek, Apex Kidney Care, Mumbai Oncocare Centre, and Noble Plus Pharmacy and Skin Care.

In FY24, its portfolio companies operated 300 healthcare facilities, delivering over 160 million products and services, the firm said in a statement.

TCHF II aims to generate 26 jobs per $1 million investment and achieve double-digit beneficiary growth.