The funds will be used to expand nationally and globally, with plans to grow its current 900,000 square feet under management to 2 million square feet.

The company founded in September 2017 by 3 entrepreneurs Rushit, Umesh Parth (the RUPaiyya trio as they are known in the ecosystem) and one listed entity: Dev Information Technology Ltd.

DevX is a co-working space and startup accelerator that provides innovative startups with all the necessary resources to nurture their growth. With its allied strategic partnerships and services, the company positions itself as an equal partner in growth, building synergies and enabling cross-pollination of ideas for collaborative growth and development.

Mr Umesh Uttamchandani, Co-Founder, DevX said, “We are excited to have raised funding from discerning investors at a time when we are planning aggressive growth. The funds will be deployed for giving further impetus to our national and global expansion goals. The immense experience in real estate, structural engineering, investment that the investors bring to the cap table will enable us to put in place even stronger governance practices. As Gujarat’s leader in the space, the funding helps us reaffirm our core values of offering world-class office infrastructure with an immersive experience. We are proud to be setting standards for the segment to aspire to. With our stated business goal of being the partner of choice for GCCs (Global capability Centres) & ODCs (Offshore Development Centres), I am excited about the future expansions to come. Growth-centric corporates are increasingly opting for managed workspaces, which perfectly meshes with our philosophy of offering best-in-class work-space experiences at competitive pricing.”

Mr Devansh Majithia, Urmin Family Office said, “We are delighted to participate in DevX’s latest funding round, which we view as an Investment in the future of India’s Co-working segment. DevX’s innovative approach to providing an immersive, value drive experience for its tenants perfectly aligns with our own Investment philosophy“

As a core part of the ecosystem, DevX also provides, round the year, a platform for industry, academia, professionals and companies to hold hackathons, seminars, events etc…to address trends and issues. The company is planning further expand and thus consolidate it’s pan-India presence by 2023 end.

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NimbleS2P aims to automate complex workflows related to finance, accounting, and procurement. The platform is designed to easily integrate and complement large ERP software such as SAP, Oracle, Microsoft Dynamics, and others to deliver cost-effective digitisation of business processes for businesses in the manufacturing and real estate sectors.

Supplier management, PO and invoice processing, and contract management are among the platform modules.

NimbleS2P claims it creates 60 per cent+ cost savings in source-to-pay for enterprises, and on top of that, it establishes a trusted supplier ecosystem, unleashing network effects within weeks.
The SaaS solution streamlines and automates manual activities for buyers, reduces processing time by 50–70 per cent, and enables inclusiveness by allowing small and medium-sized enterprises (MSMEs) to register and transact with large buyers.

The company currently caters to 15+ customers, including DLF, Jindal Steel & Power, and Oberoi Realty.
Chandresh Sharma, CEO, NimbleS2P, said, “Our vision is to revolutionise supplier-buyer interaction through a fully-automated platform. In the next two to three years, we aim to establish a strong foundation and attract over 200,000 users, expanding our growth story from India to the Middle East and South Asia.”

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The funds will be used to enhance a digital platform for Kirana store owners and wholesalers in tier 2 and tier 3 cities to purchase goods and services. This is a $100 billion consumption market and ApnaKlub’s approach addresses the pain points of 40% of this TAM with a radically different model and significantly better unit economics.

ApnaKlub is focused on making it easier for small business owners in India to access the products and services they need to run their businesses effectively. With this follow-on funding, the company will be able to continue expanding its platform, offering more products and services to its customers.

“We are thrilled to have the support of such reputable investors as TrueScale Capital and ICMG Partners, as well as the continued strong support of our existing investors,” said ApnaKlub COO, Manish. “This funding will allow us to continue growing our platform and offering more value to our customers.”

ApnaKlub was founded in 2020 by Shruti and Manish, two entrepreneurs with strong backgrounds in product, finance, strategy, and FMCG distribution. Shruti, who holds a gold medal from IIT Delhi and an MBA from Harvard Business School, brings expertise from her time in consulting and investing to the company. Manish has extensive experience in retail and FMCG, having held leadership roles at Walmart India, Metro Cash & Carry, and Future Group.

ApnaKlub has seen tremendous success in its first two years of operation. The company has processed over 2 lakh orders, onboarded and transacted with more than 33,000 partners, all while keeping burn to a minimal level.

Sameer Nath, Managing Partner at TrueScale Capital, said “We are delighted to help ApnaKlub achieve its expansion objectives. We seek to partner with experienced founders who are demonstrating meaningful revenue and growth in large target markets in a capital-efficient manner. Shruti and Manish exemplify these parameters. We have been very impressed with ApnaKlub’s ability to scale while sustaining best-in-class unit economics.”

The company also announced the elevation of Gourav Das, CPTO and Ashutosh Kumar, Growth and New Initiatives to the position of founding team members. “We are confident in our extraordinary team’s ability to continue driving growth in the future,” said ApnaKlub CEO Shruti. “It has been a successful and exciting year for ApnaKlub, and we are grateful for the support of our employees, partner brands, and customers.” 

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Virohan is a healthcare edtech platform through which trains students in Allied Healthcare Programs (AHP). AHPs are technicians in the healthcare industry who form 60% of the healthcare workforce and include technicians like Phlebotomist, Medical Lab Technicians, Operating Theatre Technicians, etc. 

As per BCG-Niti Ayog report (link), India faces an acute shortage of AHP technicians with an existing gap of ~5 million workers and estimated gap of 35M by 2028. Virohan has trained 7000+ students across its courses which has seen >96% completion rates and >98% placement rates within one month of program completion. It works with 1000+ partners such as Fortis Escorts, 1MG, Dr. Lal Path Labs, Sarvodaya Healthcare, Healthians, etc to help students get internships and job offers.   

With this fundraise Virohan is aiming to expand to 200+ new campuses Pan-India, and training 7000+ students. The company is also planning to use new funds to develop and launch new training programs, scale its omnichannel training platform infrastructure and content in vernacular languages along with developing new features to further increase learning outcomes for students. This funding will also help the company to expand to Japanese markets with the support from its existing investors ALES, and Rebright Partners. 

Virohan was founded in 2018 by Kunaal Dudeja, Nalin Saluja and Archit Jayaswal who come with strong backgrounds in retail, sales, technology, product development and finance.

Kunaal Dudeja, Cofounder & CEO, Virohan, said, “Given the growing importance of Allied Healthcare workforce in overall healthcare delivery and as India continues to face a challenge in terms of the quality of AHP, at Virohan our vision has always been to train AHPs keeping industry demand and requirement at the forefront. This investment is a testament of our product-market fit, scalability, impact and profitability of the business model. In the next 18 months Virohan will deepen its relationship with its stakeholders (Students, Universities/Colleges & Medical institutions), train over 10,000 students, and establish an international presence to cater to $100B+ global opportunity.”  

Sajith Pai, Blume Ventures, added, “Doing well, and doing good, are values that inspire Blume deeply, and at the core of why we exist. And that is why we have resonated so readily with Virohan and its mission. We have always seen Indian education as being a key engine of catalyzing the nation’s development. Equally, education can also help leapfrog social classes and economic cohorts. Hence, we have consistently bet on education startups lowering barriers for access and expanding opportunities to all. This is why we are excited to partner with Virohan, for its ambition and mission to skill and upgrade the next hundred million Indians.” 

“Over the coming decade, India needs to vastly expand its healthcare ecosystem. We are excited to back Virohan’s vision of an inclusive platform of creating new learning centers, training programs and job placement opportunities for allied healthcare professionals,” mentioned Brij Bhasin, Rebright Partners.

“This marks our third investment in Virohan since 2020, and we are confident in the company’s ability to drive both financial and social returns. We believe Virohan’s innovative solutions will be instrumental in meeting the growing demand for certified AHPs in India and supporting the success of healthcare professionals in their careers. We are pleased to support the continued growth and development of Virohan and look forward to seeing the positive impact it will have on the industry and communities it serves”, added Claudius Gutemann, Artha Impact. 
Ashwin Raguraman, Co-founder & Partner, Bharat Fund, said, “The severe shortage in healthcare workers came to the fore during the pandemic but continues to remain a persistent problem for several decades now. Virohans efforts in providing high quality training to these professionals through a highly scalable model that blends both digital, which provides access to high quality educators, and classroom/hospital experience, which is an inherent need in this space, promises to solve this problem. Virohan’s offering, sitting at the intersection of healthcare and education, is working well to solve this problem, and we are delighted to partner with the team, who have already demonstrated strong execution capabilities, to help bring high quality healthcare to India.”

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This takes Sequoia India’s total investment in Sigmoid to $19.3 million.

The new capital will fuel Sigmoid’s plan to evolve its market offerings, expand delivery centres and cater to new industries.

Founded in 2013 by IIT alumni Lokesh Anand (CEO), Mayur Rustagi (CTO) and Rahul Kumar Singh (CAO), Sigmoid helps accelerate digital transformation for enterprises across industries with data. Sigmoid builds reliable, scalable data pipelines and accelerators which empower organisations with faster access to business insights.

By 2025, Gartner states that 80 per cent of organisations seeking to scale digital business will fail because they do not take a modern approach to data and analytics governance. Enterprises today struggle to reap the full benefits of the data ecosystem, and Sigmoid aims to address this with its cutting-edge data solutions, AI engineering, and cloud data migration services.

Leveraging an agile framework for data, Sigmoid focuses on delivering high ROI to customers in the shortest possible time.

Additionally, the prebuilt accelerators deliver a high success rate for analytics initiatives while ensuring fast delivery of projects consistently.

“The last 12 months have been an inflexion point in our growth story. This funding will help us to rapidly expand our capabilities in terms of solutions and talent to meet the ever-growing customer demand,” said Lokesh Anand, CEO and Co-Founder at Sigmoid.

Sigmoid has been helping organisations accelerate their digital transformation journey while adding scalability and agility:

For a leading F500 FMCG company, Sigmoid developed self-adapting multi-touch attribution models to optimise the in-flight campaigns, generating faster bi-weekly insights in a cost effective manner. This resulted in an 11 per cent improvement in the return on marketing investments.

In another case, for a leading investment bank, Sigmoid developed, implemented and optimised the trade surveillance infrastructure to detect MAR, MiFID II and other regulatory compliance issues faster and more accurately. With the new infrastructure they could efficiently process over 100 million rows of daily data and resolve various data integrity and latency challenges in their data pipelines.

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The funds will be utilized for completing its platform as a service transformation, strengthening sales and marketing, and building a delivery excellence framework.

Founded by Dr Ram Ramdas and Rajesh Iyer, WonderLend Hubs offers LPaaS functions as an integrated ‘credit gateway’. This enables small and medium-sized lenders/loan originators to launch/scale a range of consumer and small business lending products, such as vehicle loans, personal loans, MSME loans, retailer finance, home loans, and buy now pay later (BNPL).

Its ICM PaaS drives bottom line and topline benefits for enterprises by functioning as an agile and dynamic automation solution that future-proofs their variable sales compensation strategy.

The architecture & capabilities offered by the firm has very wide custom-configuration capabilities at affordable price points.

Ankur Mittal, Co-Founder of IPV said: “Whilst its LPaaS and ICM PaaS solutions are large, exciting independent opportunities, the synergy in their target segments presents huge cross-sell potential that they are well-positioned to tap. Even on a boot-strapped basis, they have already demonstrated market validation of all three dimensions through what they have achieved thus far.”

“Their platform and delivery capabilities have already helped them to cater to clients in India and overseas, which clearly indicates their potential to grow at scale. It is commendable that they have already become a preferred provider for the insurance industry,” he added.

Ramdas, Chief Evangelist, said: “At Wonderlend Hubs, we are driven by the vision that true democratization of technology can happen only by putting the power of technology in the hands of the ‘business user’, free from the constraints of how it has been deployed historically.  We, therefore, embraced NoCode combined with a micro-service architecture as our way to move the dial in our chosen domains, much before it became part of mainstream conversation.”

The digital lending industry in India is projected to be $350 billion by 2023. The market for no-code platforms is starting to grow exponentially and is projected at $46 billion by 2025, targeting the broader enterprise software and IT services market of $1.5 trillion.

IPV recently announced the launch of a $50 million AIF fund, Physis Capital, to invest in Series A and B growth-stage startups. IPV has so far invested over INR 420+ crore in 128 deals.

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Existing investors Survam Partners and Indian Angel Network also joined.

The funds will be utilized to fuel growth in existing and new geographies, strengthen the business and tech team, marketing, and new additions to the product suite.

Launched in 2018, Hudle is a mobile app for sports enthusiasts to discover and book sports activities. It currently offers users to book a choice of 30-plus sports at over 700 venues across the country.

It also provides “All Access Passes”, a sport-specific subscription for players to play their preferred sport across India with a single subscription.

The consumer platform is complemented by inventory management and invoicing software for sports clubs and venues, enabling them to manage daily operations smoothly.

Vinay Bansal, Founder and CEO, Inflection Point Ventures, said: “Hudle is bridging the gap by enabling users to discover & book various sports venues and events and pursue their favourite sport as a hobby or as a fitness activity.”

According to a Research & Markets report, the global participatory sports market is expected to reach $416 billion in the next five years.

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The new capital will be utilized for product development, cloud infrastructure and building a global reseller ecosystem for Banaa.com.

The latest infusion of capital comes shortly after it raised INR 1.8 crore in 2021 via equity crowdfunding.

Bhatia Labs was formed with a vision to provide productized services, platforms and infrastructure at an affordable cost to individuals, startups and businesses all over the world.

Launched in January 2019, Banaa.com offers a suite of no-code and subscription-based products and productized services. It offers professionally designed key components for developing aesthetically engaging websites and e-commerce stores. The process is self-explanatory and enables users to build a website and begin selling online in minutes.

Dushyant Bhatia, Founder, Bhatia Labs, said, “We’ve been working on building a suite of affordable subscription-based offerings for non-coders, designers and developers across the globe. The last year was spent on perfecting the products and offerings for the target market and with this round, we intend to focus on building our reseller ecosystem.”

“With Banaa.com, we intend to democratize software development and allow non-coders to be a part of this digital revolution. Banaa.com competes on some levels with companies such as Webflow and the open-source platform WordPress,” he added.

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Existing backers Chiratae Ventures and Dream Incubator Japan and new investors Sony Innovation Fund, InCred Capital, and Haldiram’s Family Office also participated. 

Combined with the $5 million seed round announced in 2020, this brings GetVantage’s total funding raised so far to over $40 million. This includes multiple debt lines with leading NBFC partners to rapidly scale its all-in-one finance and growth platform.

The new investment will power the growth of GetVantage’s performance-based financing solution and embedded finance product, enhance technology infrastructure, scale its product suite to meet the evolving needs of fast-growing digital businesses, expand its growing portfolio of B2B SaaS and subscription-driven businesses, and explore new-market opportunities across Southeast Asia.

Launched in 2020, GetVantage offers entrepreneurs access to equity-free capital between $10,000 and $500,000 in as fast as 5 days as a founder-friendly alternative to traditional funding sources (like venture capital and bank debt). Nearly 4,000 businesses have applied for non-dilutive financing via its platform. The company uses a data-driven approach to eradicate bias and power faster funding decisions to help brands double down on key growth areas like marketing, inventory, logistics, and expansion.

Using a tech-first approach, GetVantage’s RBF platform makes funding frictionless for founders who can apply in minutes, get a bespoke funding offer within 48 hours, and get funded in less than 5 days.

In addition to non-dilutive capital, portfolio companies get access to real-time insights, a mentor network, and the most powerful partner rewards ecosystem for startups in the country. 

In 2021, GetVantage claims it saw 300 per cent YoY growth and helped brands achieve 1.8x revenue growth post-funding on average. To date, GetVantage’s revenue-based financing marketplace has funded over $270 million in GMV for over 35 brands across18 categories ranging from B2B SaaS and subscription businesses, D2C, eCommerce, edutech, healthtech, cloud kitchens, and nutrition, amongst others.

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