This fund will be allocated to marketing, sales, technology scaling, R&D, infrastructure and administrative expenses.

The company developing AI-powered solutions that personalize business communication for non-English speakers into both private and government infrastructures. By leveraging advanced Natural language processing (NLP) and Small Language Models (SLM), the company enables businesses to effectively reach customers in their native. Their innovative solutions address the unique linguistic needs of diverse audiences, enhancing communication and engagement.

The company was co-founded by Nakul Kundra and Himanshu Sharma, both of them having 15 years of entrepreneurial experience. Nakul Kundra, who holds an MBA in Marketing & Finance, has a rich background in business strategy and management. Himanshu Sharma, also an MBA in Marketing and a skilled coder, combines technical expertise with business acumen. Together, their diverse skill sets and extensive experience drive the innovative vision and growth of Devnagri.

Mitesh Shah, Co-Founder, Inflection Point Ventures says, “In India, where more than 700 languages are spoken, translating it is a challenging task from the perspective of accuracy, context, and cultural nuances. These issues impact communication, business expansion, and user experience. Devnagri addresses these problems by leveraging AI-powered human translation. The platform ensures precise translations, context-awareness, and localization, enabling seamless communication across diverse Indian languages.” 

Devnagri’s exceptional BLEU scores in Indian languages demonstrate its proficiency in delivering high-quality translations. By expanding its offerings to include GenAI and SLM, the company empowers businesses to create personalized content tailored to specific audiences, driving engagement and customer satisfaction.

The company’s focus on Tier II and Tier III cities is a strategic move to tap into underserved markets. By offering cost-effective, AI-powered language solutions, Devnagri is enabling businesses to expand their reach and build stronger connections with customers across India.

Nakul Kundra, Co-Founder of Devnagri, emphasized the company’s customer-centric approach, stating, “Effective communication is about reaching the receiver. Our focus on hyper-local communication empowers businesses to connect with their audiences in their own language.” He further highlighted the company’s vision of offering private cloud infrastructure to ensure data security and control for enterprise clients.

Devnagri’s achievements have been recognized with prestigious awards, including the TieCon Award 2024, the Graham Bell Award 2023, a feature in the special edition of Shark Tank India 2022, and recognition as NASSCOM’s Emerging NLP Startup of India.

The opportunity market for Devnagri is valued at $100 Billion Globally by 2030 ($53 Billion in India growing at a CAGR of 6.7%) which keeps on growing with the growth of all content rich industries. As the language industry is just getting form in India, it will further create sub industries and will change the way of communication for everyone.

The post Gen-AI startup Devnagri raises Pre-Series A funding led by IPV appeared first on Startagist.

The funding led by Prime venture partners and Zephyr Peacock India will help Poshn create the largest distribution network in the food ecosystem.

The company was founded by Shashank Singh and Bhuvnesh Gupta and has raised around $8 million in equity since its inception in 2020.

The company leverages a full-stack approach to address inefficiencies across the entire food value chain, encompassing various stakeholders like food processing units, wholesale buyers, institutions, general trade, and retailers.

Poshn plans to use the fresh funds to build further its innovative stack of solutions that address the gaps in the system. Besides, it will use the funds to expand the business to global markets with imports/ exports in profitable categories to Southeast Asian and Middle Eastern countries.

Shashank Singh, Co-founder of Poshn, said, “Poshn has already cemented its position in the wholesale segment over the last three years. With the trust of investing partners and infusion of fresh equity, we aggressively integrate forward and backward in the chain and open foreign/export markets over the next 12 months while growing profitably.”

Over the past three years, Poshn has experienced remarkable growth while maintaining profitability. The company’s revenue has skyrocketed six-fold from FY22 to FY24. Poshn is one of the few startups that have been EBITDA profitable while supporting the growth trajectory. Since its inception, the startup has marked a presence in more than 16 states in India. In 2022, the startup raised USD 4 million in equity in a seed round with Prime Venture Partner and Zephyr Peacock. Additionally, it has partnered with Banks & NBFCs for its debt requirements. Some notable names include ICICI Bank, Alteria Capital, UCIC, Northern Arc, Blacksoil, and Capsave.

Prime Venture Partners added,” Poshn has led by being a supply-first company and has meaningfully solved for the B2B food value chain. The company has always been bottom-line focused with a remarkable ROCE and wants to continue expanding that further by going deeper into the supply chain while also pursuing some full-stack vertical integrations. We believe Poshn will be a category-defining company in the coming years, and we are excited to be their partners from day zero.”

In its journey, Poshn has built solutions to make the supply chain efficient for user onboarding, document collection and verification, and ledger matching. In the next phase, the company will integrate forward and backward in the food value chain to unlock further efficiencies via capacity planning, utilizations, and reaching directly to retailers.

Bhuvnesh Gupta, Co-founder, said, “Poshn boasts of best operational and capital efficiency in not just food tech but across B2B segments. With renewed capital and trust, we will continue to scale newer horizons with the same efficiency.”

The food supply chain market is over USD 800 billion and is highly fragmented on the supply side. The chain experiences inefficiencies due to a slew of intermediaries or middlemen, poor capacity planning, a lack of predictable demand, and a lack of technology. Poshn is working on bridging these gaps with technology.

 “Poshn is using technology to simplify and organize the fragmented food value chain in India. Both buyers and suppliers are adopting Poshn’s platform for convenient access to quality products at competitive prices.  We are excited to partner with Shashank and Bhuvnesh,” said Mukul Gulati, Managing Partner, Zephyr Peacock India.

The post Foodtech startup Poshn raises $4M in pre-series A round appeared first on Startagist.

The StartUp Mumbai Challenge named ‘Forever Planet’ signifies a forward-looking commitment to nurturing early-stage startups, specifically focusing on sectors like sustainability, entertainment, media, sports, and lifestyle enhancement. Beyond being a competition, it offers a transformative journey, providing selected startups with robust support, funding, mentorship, and market access through Turbostart’s extensive network. 

Participating startups would get the unique opportunity to receive mentorship from some of the brightest entrepreneurial minds and also funding up to USD 500000.

The panel of Mentors for the StartUpMumbai Challenge are some of the most inspirational leaders in business and innovation: Anand Mahindra, Chairman- Mahindra Group, Ronnie Screwvala, Chairman- Swades Foundation, Vikas Agnihotri, Director- InMobi and GlobalBees, Kaustubh Dhavse, Joint Secretary and OSD to the Deputy Chief Minister- Govt of Maharashtra and Harsh Jain, Founder-Dream11.

Highlighting the importance of StartUp Mumbai Challenge, Hon’ble Minister of Tourism and Rural Development, Shri Girish Mahajan said, “The launch of this ‘Forever Planet’ challenge will position Mumbai as a global nucleus for innovation and sustainable development. This ground-breaking StartUp Mumbai Challenge is a call to action for budding entrepreneurs to contribute their transformative ideas towards a sustainable future. Accompany us on this entrepreneurial journey as we strive to establish Mumbai as a worldwide hub of innovation, originality, and dedication to a robust and sustainable future”.

Wizcraft Entertainment Agency Pvt. Ltd., known for creating immersive experiences, is a key collaborator, ensuring that the Mumbai Festival 2024 celebrates business, culture and entrepreneurship and becomes a beacon of innovation and enterprise. 

The challenge is open to all startups, demonstrating a strong founding team, innovative technology, scalability, and impactful solutions. Top contenders stand to win up to USD 500,000 in funding and various other benefits, including mentorship, market access, and branding opportunities. 

Anand Mahindra, Chairperson, the Mumbai Festival Advisory Committee, renowned global entrepreneur and esteemed mentor, exclaimed, “The initiative’s dedication to nurturing environmentally impactful startups resonates with the principles I’ve always advocated in my own business. Fostering an ecosystem where these startups can thrive and meaningfully change the landscape of sustainable innovation is vital, and I am glad to play my part.”

Ronnie Screwvala, Chairman, Swades Foundation, one of the most active investors in innovation and startups, who will be present at the event as a mentor said, “Today, as we stand on the precipice of unprecedented environmental challenges, it is imperative that we empower the next generation of innovators to drive sustainable solutions forward. The Forever Planet Challenge is an invitation to make a difference. Together, we can create a lasting impact on our planet, and I am excited to witness the innovative solutions that will emerge from this transformative challenge.”

Emphasizing on government’s efforts and intent to build a sustainable future, Kaustubh Dhavse, Joint Secretary, Govt of Maharashtra, focused on innovation, investments and startups, said “Prioritizing sustainability is crucial for our collective future. The event aligns seamlessly with our vision for positive environmental impact. This initiative reflects the power of partnerships between the public and private sectors. Anticipating impactful solutions to emerge, shaping a greener and more sustainable future.”

“The startup landscape is evolving rapidly, and sustainable solutions are not just a necessity but a strategic imperative. The Mumbai Festival’s vision for the Forever Planet Challenge presents an exciting opportunity to support and catalyze the growth of startups that will redefine the future of sustainability. One must commend the pioneering efforts of Maharashtra’s Tourism ministry, Wizcraft and Turbostart.’ said Vikas Agnihotri, Director InMobi and GlobalBees, till recently Operating Partner of Softbank Vision Fund India, a mentor at the challenge.

Harsh Jain, CEO & Co-Founder, Dream11 & Dream Sports said,“Mumbai is one of the largest start-up hubs in India, and as the financial capital, offers unlimited opportunities for entrepreneurs. The Forever Planet Challenge provides founders with a fantastic platform and underscores the pivotal role that technology can play in addressing global climate challenges. As a Mumbai start-up, it is heartwarming for us at Dream Sports to see startups receive the support they need to turn their innovative ideas into scalable solutions.”

Ganesh Raju, Founder-Turbostart, expressed enthusiasm about extending Turbostart’s successful platform to the Mumbai Festival 2024. At Turbostart, we are excited to witness the fusion of innovation and sustainability at the Mumbai Festival 2024. “Launched in 2019, Turbostart is a global fund & accelerator specializing in handpicking outstanding early-stage startups through a unique cohort format. Over the last four years, Turbostart has invested in approximately 40 startups, nurturing them into industry trailblazers. This collaboration with the Mumbai International Festival 2024 aligns seamlessly with our vision, offering an unparalleled platform for eco-conscious startups to showcase transformative solutions and fostering a global movement towards sustainable entrepreneurship.”

Jayshree Bhoj, Secretary, Tourism, Government of Maharashtra said, “StartUps are the best opportunity to encourage entrepreneurship among our youth to become job creators and contribute to the country’s fast-growing economy. The StartUp Mumbai Challenge is particularly exciting with its focus on environment-friendly business ideas. We are grateful to the esteemed panel of mentors for shouldering the responsibility to guide our youth in this area. The Forever Planet Challenge not only provides a platform for these visionaries but also underscores the pivotal role that innovation plays in addressing global challenges. It is a unique opportunity for startups to receive the support they need to turn their innovative ideas into scalable solutions.”

Sabbas Joseph, Founding-Director, Wizcraft Group, emphasized, “We are not just creating an event; we are cultivating an ecosystem that thrives on innovation, resilience, and entrepreneurial spirit. Mumbai Festival 2024, with the StartUp Mumbai Challenge, is a testament to Mumbai’s unwavering commitment to progress and transformation. The StartUp Mumbai Challenge is being organised to drive attention to the need for innovation and technology to create businesses that can help align our lifestyle to being planet-friendly.” 

This challenge is more than an opportunity; it’s a call to action for all visionaries, disruptors, and change-makers. Mumbai invites the brightest minds globally to join this movement and contribute to shaping the future of a city that never sleeps.

Join us in celebrating innovation and entrepreneurship at the Mumbai Festival 2024.

For more information on the StartUp Mumbai Challenge and to participate, visit https://apply.turbostart.co/register.

The post StartUp Mumbai Challenge Sparks Innovation at Mumbai Festival 2024 appeared first on Startagist.

This investment not only propels ReCircle’s ambitious growth strategy but also strengthens its mission of promoting an ethical circular economy. The funds will be utilized to expand hiring, scale technology, and broaden partner networks across new waste supply chains.

ReCircle has demonstrated remarkable success in its mission, achieving a staggering 290% increase in waste recovery rates during the 2022-23 fiscal year compared to the previous year. With plans to double this recovery amount, the urgency becomes apparent, especially considering India’s annual plastic waste production of 3.4 million tonnes, of which only 30% is currently recycled.

Rahul Nainani, Co-Founder & CEO of ReCircle, said, “This achievement fuels our ambitious growth strategy, empowering us to expand our technology and service capabilities as well as our partner networks into new waste supply chains. With our technology-enabled waste supply chain platform, we are poised to efficiently and transparently handle waste recovery across India in a scalable and cost-effective way. We are committed to drive greater change across the value chain by organising the sector, and taking an active role in the transition to a circular future”

Lubna Ahmed — Head of Flipkart Ventures said, “Flipkart has always been at the forefront of empowering the startup ecosystem in India. We are excited to witness the transformative journey of startups in India as they harness Flipkart’s resources and guidance to bring their innovative ideas to life. We are pleased to invest in ReCircle as it continues to fuel innovation and growth in its industry. The investment is being made by Flipkart Ventures through its cohort-based Leap Ahead program”.

The fundraise will equip ReCircle to enhance its service offerings for brands and expand its partner network currently comprising a 350+ collector network. The investment will also enable ReCircle to scale its existing waste supply chain, digitise it further and propel it towards venturing into new waste supply chains such as paper, textile, glass etc.

Over the years, ReCircle has played a pivotal role in improving urban waste systems across India by collaborating with over 3,100 informal waste workers, thus enhancing their lives and livelihoods. The funding will enable ReCircle to continue its mission, reaching the last mile of the value chain and ensuring dignity and equity for informal waste workers.

Paraag Sabhlok, Associate Director, Portfolio (India) at Acumen, said “Acumen is excited to join ReCircle as an investor to support the company’s vision of transforming waste into a valuable resource and bringing dignity to the work of people working in the waste management value chain who are often overlooked. This investment supports Acumen India’s initiative on pioneering green jobs”

Shalini Chhabra of 3i Partners, said, “We are delighted to partner with passionate environmentalists and entrepreneurs, Rahul and Gurashish in their journey towards a more responsible, sustainable future”.

The round of investment is driven by ReCircle’s significant revenue growth, strong traction pan-India, and competitive advantage as a technology-forward company, which it has established year after year.

The post Cleantech startup ReCircle raises pre-Series A funding appeared first on Startagist.

This investment round also includes participation from notable investors like Authum Investments and Team India Managers. The funds raised will be utilized for marketing initiatives, expanding the sales team, and further developing their product offerings.

Madmix, despite bootstrapping for two years, has managed to expand its global presence, reaching markets in Nepal, Hong Kong, New Zealand, and the USA. In India, the company has made a substantial impact, with its products available in over 650 stores nationwide.

The recent rebranding of Madmix, coupled with their innovative approach to healthy foods, positions the company for significant growth and success in the health-conscious food industry. Madmix offers a range of ready-to-eat snacks made from millets like jowar in various flavors. Additionally, they offer a millet-based ready-to-cook product line, including dosa, idli, chilla, bread mix, and flour mix. Their mission is to replace unhealthy eating choices with nutritious and delicious food, and they continuously innovate and develop new products.

Gaurav Palrecha, Founder & Director, Madmix said, “We’re thrilled by the incredible support our investors have shown – it’s a true validation of our journey into the realm of madness. Consumers are becoming more conscious and are making healthy choices and we want to support them in their journey. These funds will enable us to achieve our growth numbers and we’re just getting started!“

Mr. Apurva Doshi, Sr Vice President, Equity Capital Markets, Prime Securities Limited said, “In India, snacking is more than just what we eat, it is a tradition and an important part of our cultural identity, as quoted by report ‘State of Snacking Report: A Global Consumer Trend Study’. We think the Company is revolutionising the idea of snacking with its ready-to-eat snacks and ready-to-cook range. We strongly believe in the Company’s prospects and this funding will aid the Company as it marches on in its growth journey.”

Mrs. Niru Kanodia, Director, Team India Managers Limited said, “The idea of mindful and healthy eating will drive the demand for snacking in India. We firmly believe that Madmix is rightly placed and offers balanced nutrition in every product combining with health and taste.”

The post Food startup Madmix raises approx. $1.4M in seed funding appeared first on Startagist.

The funds will be utilized to establish, promote and implementation of the National Common Mobility Ticketing (NCMT) system across Tier 1 and Tier 2 cities in India. It will cover various aspects such as the recruitment and training of personnel, the development of technology and software, the expansion of the system, marketing initiatives, and administrative requirements.

Tummoc is a comprehensive transit technology platform that offers multi-modal connectivity solutions to State Transport Authorities (STAs). It enables users to have a seamless journey experience through a single transaction, incorporating features like intracity journey planning, online bus & metro tickets bookings and convenient first-to-last mile connectivity, everything in one single app. 

Rahul Wagh, Managing Director, Inflection Point Ventures, says, “Urbanization brings with it related challenges of traffic and pollution as experienced in large cities of other developed nations like US, UK, etc where use of public transportation is far more prevalent.  We expect a similar shift in major Indian metros as well. The government is doing its part with improving the overall infrastructure and ideas like Tummoc are expected to play a big part in this process. Traveling with ease is one and the most vital element for any commuters, this is exactly what Tummoc intends to deliver with its multi-modal connectivity platform. This platform offers all the key services needed for local travel. We at IPV look forward to providing strategic support and help Tummoc penetrate new regions.”

Tummoc has been recognized and honored with various awards and accolades, including the prestigious Elevate 2018 by the Government of Karnataka, where they emerged as the winners. They were also winners at STAMP 2018 in Hyderabad by WRI India and Toyota Mobility Foundation, and again at STAMP 2022 in Delhi. Tummoc was recognized as a finalist in the National Startup Award 2020. Additionally, they achieved recognition as a finalist in the IIMC Smart 50, which acknowledges the top 400 startups in India. Tummoc was also recognized as a finalist in the EO Cares program.

Hiranmay Mallick, CEO, Tummoc says, “We’re grateful to have completed our pre-series-A round. The funds acquired will be utilised in MaaS (Mobility as a service) implementation for Bengaluru and Delhi which will be the first of its kind solution in India. MaaS integrates multiple modes into a single journey ticket. This includes the first, middle and last mile. It will enable 15 million daily commuters across Bengaluru and Delhi to avail a single mobility ticket. Next, we plan to take this to 10+ cities. Additionally, Tummoc will enable ITM (Integrate Transport Management) for key state and city transit agencies to help them digitize their transit infrastructure,thus building Transit for India”.

The Indian transit market, with approximately 75 million daily commuters and a market value of $20 billion, presents a significant opportunity for Tummoc. The company aims to capture 25% of the market’s attention within the next two years. As for the global market size, the information is not available. Looking ahead, it is estimated that the market size in India will reach 90 million users on a daily basis within the next three years.

The post MaaS platform Tummoc raises $1M in a Pre-Series A round led by IPV appeared first on Startagist.

This 6-week cohort program will host 20 startups after a thorough 3-stage screening process and provide opportunities for networking and collaboration with industry leaders, investors and other startups.

The selected startup will get mentorship from Nitin Jain, Co-Founder & CEO of Of’Business, Sanjay Sacheti, Country Head- India of Olam Agri, Varun Khurana, Founder & CEO of Otipy, Vamsi Udayagiri, Founder & CEO of Hesa, Ramakrishnan M, Agritech Expert & Angel Investor and others.

Manas Pal, Co-Founder, PedalStart, said, “After the success of our previous cohort, Zero-to-One, which was a cohort structured for early-stage startups from different domains, and now we are ready to launch another cohort, Agcubator, a platform to support Agri-tech startups industry. The cohort will be a platform for startups to revolutionize their journey in the shadow of domain experts. We are looking forward to onboarding startups from the domain to seed and accelerating their journey. “

Applications are being accepted from various sectors within Agri-tech, such as Agbiotech, Precision Agriculture/Farm Management Software, AgRobotics/Hardware Solutions/Farm Infrastructure/Farm Mechanization/Farm Automation, Food Quality/Safety/Traceability, Processing, Logistics & Warehousing, Animal-Related, and Agrifintech, among others.

Start-ups can apply by registering on the waiting list, followed by an application review and onboarding with analysts.

To know more about the cohort, tap on the link below-

https://cohort.pedalstart.com/agcubator/

The post PedalStart launches ‘Agcubator’ to support agritech startups appeared first on Startagist.

Leading global and domestic institutions and family offices have participated in the fund, including HDFC Life and SIDBI. 

The fund will primarily invest in eight to ten early-growth, digital and tech startups with a ticket size of $6 million to $10 million. 

Z3Partners has already made five investments — cybersecurity startup Cyfirma, social e-commerce firm DealShare, agritech platform Gramophone, SaaS-based logistics management leader Shipsy, and AI-led celebrity engagement platform True-Fan. 

DealShare had also turned unicorn in 2022 after its $165 million Series E financing round.

Founded in 2019 by Gautam Patel Z3Partners is an early-growth stage investor-operator that invests across early-growth companies in Series A/B stage. The fund’s core investment themes focus on SaaS, fintech, e-commerce, B2B commerce, agritech, Big Data, consumer-tech and all things tech-enabled. 

Z3Partners is an investor-operator and closely engages with founders to help them refine their GTM and makes customer introductions to accelerate growth. The fund also lends support from time to time in helping its portfolio companies with digital and product marketing strategy, and developing and retaining senior talent. 

Z3Partners also announced Rishi Maheshwari joining as co-founder and managing partner. He has over 18 years of investment management and investment banking experience across the U.S., India and Emerging Markets and has held several senior management and board positions in organisations locally and internationally. 

Gautam Patel, founder and managing partner, said, “At Z3Partners, our vision is to identify the most disruptive and cutting-edge startups and provide them with necessary support to grow into market leaders. The same philosophy is reflected across our LP base, too, with market leaders like HDFC Life and SIDBI as our Fund investors; resulting in a final close well ahead of schedule. We are also delighted to welcome Rishi to Z3Partners. He and I invested in BigBasket together and are looking forward to building Z3Partners into the premium digital and tech investment platform of choice in India.”

The post Z3Partners hits final close of new fund at $67M appeared first on Startagist.

Bajo Foods plans to use the fundraise for brand building of its new product ranges and expanding their channels to Offline Retail, B2B and Hospitals. Bajo will also look to bolster its leadership team in Branding and Revenue generation to drive their Growth ambitions.

Aiming to impact health at scale, Bajo Foods mission is to reduce the amount of Carbohydrates that India consumes to 50 per cent (from 75 to 85 %). With their new product lines, they intend to serve 100 million Indians by making scientifically backed and tested low-carb products. 

DiabeSmart, which is a new brand built specifically for Diabetics is the first Diabetes specialist food product range at scale. The products have been tested to have a 35-50% Lower Blood Glucose spike compared  to regular Food products. With an expected Monthly household spends of just 800 Rs it is a cost-effective solution to manage diabetes. Protein Chef, another Brand that has been soft launched, provides a Low Carb High Protein Powder, that can be added to cooking. Its plant-based, no-chemical product range aims to solve for protein deficiency in India, based on the Indian Food habits at a 60 per cent lower cost to consumers.  These products are available for purchase on the company’s website and eCommerce marketplaces- Flipkart and Amazon. FMCG company plans to soon expand its reach to potential customers through its offline stores.     

Speaking about the fundraising, Sudarshan Gangrade, CEO of  Bajo Foods, said, “India is referred to as the Diabetes Capital of the World. This fundraising is for our two newly built innovative product ranges, DiabeSmart and Protein Chef. The investment will expand the reach to the targeted audience and accelerate our growth, helping us in our vision of positively impacting the health of Indians.”

On the funding KP Balaraj, founder of KPB Trust, (Former co-founder of Sequoia Capital India and WestBridge Capital) said, “The Diabetes and Protein market segments that Bajo Foods has built products for is extremely large. The company has built clearly differentiated products with high Gross margins structure. With a strong team and founder, we believe Bajo Foods has a long term play in the Indian Packaged Foods segment.”

Mr. Amit Sharma, Sunrise Foods that sold to ITC recently added, “The quality of the Product range along with the gap in the market has me convinced that Bajo Foods has a niche that could make it into a very large Brand that most key players would be very interested in.”

Bajo Foods, which started with Keto products, provides low-carb food products- Keto packaged foods and Keto fresh foods. Founded in 2019, the company has built the country’s largest and most-loved keto brand, which is also Amazon’s choice for everything ‘Keto’. The product range has expanded from Atta to cookies, mixtures, namkeens, and chocolate, built with innovation and functional benefits on a strong scientific basis with proper testing. 

Bajo Foods also has Cloud Kitchens from which it serves Fresh Foods in four cities- Gurugram, Delhi, Bangalore, and Hyderabad. With 17 cloud kitchens today, the company is the largest Low Carb Cloud Kitchen Brand in India.. The brand is also targeting expansion to around 35 cloud kitchens in the span of 12 months in Mumbai, Pune, Ahmedabad and Chennai through the Franchisee model. With its cloud kitchens, the company delivers fresh food items, Parathas, Rolls, Sandwiches, Bakery and packaged foods to its customers.

The post Bajo Foods raises $2M for its diabetes, protein-based products appeared first on Startagist.

Global Founders Capital, Y Combinator, Soma Capital and seasoned angels such as Alan Rutledge and Gokul Rajaram also joined. 

The startup will the money to expand its 10-member team to 30 in the next six months. It will also create products like remittances, savings accounts, and investments.

Founded in 2022 by Parth Garg, a Stanford dropout, Vance aims to change the way global citizens engage with financial services. Its vision is to build an all-encompassing banking platform, allowing users to seamlessly manage separate accounts, exchange currencies, and eventually invest in equities across markets.

Unlike multi-currency wallets, a Vance account allows users to transact using local rails in different countries. The goal is to enable users to use direct debit in the US while seamlessly leveraging India’s UPI rails through the same account.

Vance was born out of Parth’s personal experience when he moved to India eight months ago and faced challenges in getting a credit card despite having a credit history in the US and the UAE.

Parth Garg, Founder and CEO Vance, said, “Banking and payments have come leaps and bounds over the last decade, but when it comes to international transactions, we still run on archaic systems. It is time to rethink global banking from the ground up. With an ever increasing global population, a global bank is the need of the hour more than ever.” 

With Vance, international travellers can spend like locals, migrants can send personal remittances to their home country at live rates, and cross-border freelancers can receive payments without the hefty commissions.

It envisions a world where you don’t need multiple bank accounts in multiple countries to be financially included in an ecosystem. The goal is to build a borderless banking account that opens up realms of using banking products that are currently not possible.

Vance will let people bank in any country through just one interface. 

Vance was a part of Y Combinator’s Winter 2022 batch and plans on going live in the UAE and UK by the end of 2022. By Q1 2023, the goal is to launch in five additional countries.

The post Vance raises $5.8M to let people bank in any country through one interface appeared first on Startagist.