1. Indian Pet Food Brand Drools Secures $60 Million Investment From L Catterton
Drools Pet Food, a renowned India
n brand specializing in pet food for cats and dogs, has successfully secured $60 million in funding from L Catterton, a prominent global investment firm focused on consumer goods and supported by LVMH. This funding marks Drools’ inaugural external round of financing and places the company’s valuation at an impressive $600 million.
2. Drone Startup ideaForge Raises $20 Mn In Series B Funding To Fuel Global Ambition
Drone manufacturing startup ideaForge has raised $20 Mn in a Series B funding round led by private equity firm Florintree. The round also saw participation from other existing investors such as Celesta, Infosys, Qualcomm, and Infina, along with the Exim Bank of India.
The startup will use the funding to ramp up investment in research and development. ideaForge will also use the capital to expand globally and scale up hiring across key verticals.
3. Peak XV Partners Backs India’s Digantara To Propel Space Situational Awareness
Digantara, an Indian space tech startup that is working on space situational awareness, has raised $10 million in a funding round led by Peak XV Partners (formerly Sequoia Capital India and Southeast Asia) as it plans to kick off commercial space operations and satellite traffic management. This is notably the first space tech investment by the storied investor.
The all-equity Series A1 funding round saw participation from the startup’s existing investor Kalaari Capital. It also introduced Japan’s VC firm Global Brain, Campus Fund, and the founders of IIFL Wealth to its cap table.
4. Good Flippin’ Burgers Raises $ 4 Million in Series A Round
Good Flippin’ Burgers, the renowned burger chain celebrated for its mouth-watering burgers, has successfully raised $ 4 million in its latest Series A round of funding via Tanglin Venture Partners. This cash infusion not only bolsters the company’s financial resources for growth but also solidifies its ambitions as it continues its journey of becoming the most loved burger brand in India. The company will primarily concentrate on geographical expansion, reinforcing its supply chain, and further refining its dining and quick service models.
5. Prop-tech startup Crib raises Rs 15 crore in funding
Prop-tech startup Crib, a SaaS-based marketplace for co-living, has raised Rs 15 crore in its seed round co-led by WeFounderCircle and Rebright Partners. The round saw participation from over 50 founders and tech operators including Sigurd Ventures, Vijay Shekhar Sharma (PayTM), Kunal Shah (Cred), Ghazal Alagh (Mamaearth), Ramakant Sharma (Livspace), Sandeep Aggarwal (Droom, ShopClues), Ravi Bhushan (BrightChamps, Housing), Ankur Aggarwal (Dunzo) along with various angel syndicates and funds like Imperier Holdings, FAAD, Rogue Opportunities, Beej Network, Dream Green Capital Venture, Supermorpheus Fund among others.
6. Indian EV two-wheeler startup River raises $15M led by Dubai’s Al Futtaim Group
River, an Indian EV startup that introduced its first two-wheeler in February, has raised $15 million in a funding round led by Dubai’s Al Futtaim Group. With today’s funding round, the startup looks to take on the likes of SoftBank- and Edelweiss-backed Ola Electric, and Ather Energy, which counts Tiger Global, Caladium Investment, and Hero MotoCorp among its key investors.
The all-equity funding round also saw participation from River’s existing investors Lowercarbon Capital, Toyota Ventures, Maniv Mobility, and Trucks VC.