Startup Spotlight: Daily Highlights (January 15, 2025)

Assam Chief Minister Himanta Biswa Sarma has shared his vision for the state, while Foxtale has successfully secured funding. Today’s edition of StartupSuperb highlights key developments across various industries.

Featured Conversation with IPV’s Vinay Bansal

In an engaging discussion during an investor gathering in Chennai, Vinay Bansal provided valuable insights into IPV’s development, guiding principles, and ambitions for the future of Indian startups. His reflections showcase not only the growth of a successful investment platform but also a profound understanding of what is required to establish a sustainable startup ecosystem.

StartupSuperb’s Annual Funding Report

In 2024, Indian startups experienced a significant funding rebound, raising $13.2 billion, representing a 22% increase from the $10.8 billion collected in 2023. This upswing marked a welcome change following the challenging ‘funding winter.’ Although this figure is modest compared to previous years, it provides relief after a steep 52% decline in funding during 2023 compared to 2022.

Key points:
– The year began with caution, recording the lowest inflow of $2.4 billion in Q1.
– Gradual momentum built up, culminating in the third quarter, which saw the highest inflow at $4 billion, indicating a resurgence of investor trust.

CM Himanta Biswa Sarma’s Blueprint for ‘A New Assam’

Decades ago, a sixth-grader delivered his first public address in Guwahati at Judges Field before Atal Bihari Vajpayee, who had not yet become India’s Prime Minister but was already a prominent figure in national politics. This young boy was Himanta Biswa Sarma, and his early political experience reflected a generation of Assamese youth who matured amid what he describes as “the most turbulent period of our history.”

Funding News

D2C Skincare Brand Foxtale Raises $30 Million for Market Expansion

D2C skincare brand Foxtale has successfully raised $30 million in its Series C funding round, with contributions from KOSÉ Corporation and existing investors Panthera Growth Partners, Z47, and Kae Capital. Under this partnership, KOSÉ Corporation aims to leverage Foxtale’s expertise in D2C strategies and the Indian market, while Foxtale will incorporate KOSÉ’s advanced technological capabilities in research and development for product innovation.

VELOCITY.travel Secures $10 Million from Angel Investor Raj Shah

VELOCITY.travel has raised $10 million from New York-based angel investor Raj Shah. The company plans to utilise this new funding to launch its platform named ZIPPY in April 2025, aiming to ‘redefine’ corporate travel and lifestyle management globally. Founded in 2013, wtfares was India’s first free flight cancellation platform, initially offering travellers flexibility and later expanding into holiday planning, effectively transforming leisure travel with technological solutions.

CEO Varun Sarda stated that Indian business travel is at a similar point where leisure travel was in 2004—still predominantly offline but on the verge of a digital transformation driven by technology that enhances efficiency, compliance, and hyper-personalisation.

TyrePlex Raises $2.4 Million Led by PeerCapital

TyrePlex, a business-to-business tyre marketplace, has raised $2.4 million led by PeerCapital. This funding round also saw participation from Titan Capital Winners Fund, Sattva Family Office, and current investors, including 100 Unicorns. The proceeds will be utilised to broaden the company’s geographic reach into the top 25 cities in India.

Co-Founder and CEO Puneet Bhaskar stated that dealers collaborating with TyrePlex generate higher demand, enhance profitability, and optimise working capital. The new funding will significantly accelerate growth and extend the company’s geographic footprint while focusing on innovation and data-driven solutions.

Sukoon Unlimited Secures $430,000 Led by Anchorage Capital Partners

Sukoon Unlimited, an age-tech startup, has acquired $430,000 in a pre-seed funding round from investors, including Anchorage Capital Partners (India). The round also included contributions from Dr Vinay Jain, Manish Dureja, Rahul Dash, Prantik Mazumdar, Neeraj Sagar, and Sudhir Kamath. This funding will enhance the platform, scale operations, and expand the senior community across India.

Founder and CEO Vibha Singal noted her observations of the emotional vulnerabilities that arise with age, emphasising the importance of addressing both emotional and physical needs. This inspiration led to the establishment of Sukoon Unlimited, aiming to ensure no senior has to face the challenges of aging alone.

OrbitAID Secures $1.5 Million Led by Unicorn India Ventures

Chennai-based space tech startup OrbitAID has raised $1.5 million in a pre-seed round led by Unicorn India Ventures, with participation from TANSIM (Government of Tamil Nadu). The funds will facilitate in-space demonstrations of docking and refuelling operations, expand facilities for on-orbit servicing, advance the Standard Interface Docking and Refuelling Port (SIDRP) towards commercial readiness, and enhance team capabilities for future projects.

GreenStitch Raises $1.2 Million Led by Equirus InnovateX Fund

GreenStitch, a sustainability-focused SaaS platform for the fashion and textile sector, has successfully raised $1.2 million in seed funding, led by Equirus InnovateX Fund. The round received support from Ivycap Ventures, Warmup Ventures, and Zeca Ventures. Founded by Narendra Makwana and Arpit Samdani, the GreenStitch platform integrates seamlessly with enterprise resource planning (ERP) and product lifecycle management (PLM) systems to consolidate supply chain information, identify data gaps, and apply AI and machine learning for accuracy improvement.

ParkMate Raises $1.2 Million Round Led by Cactus Partners

ParkMate has raised $1.2 million in a funding round led by Cactus Partners, an early-stage venture fund. Existing investors such as Venture Catalysts and the Marwah Group Family Office participated in this round. The new capital will be dedicated to enhancing ParkMate’s operations, expanding its business development team, and driving innovation in its advanced parking solutions.

House of Chikankari Gains Funding from Angel Investors

House of Chikankari, an artisanal-led ethnic wear D2C brand based in Delhi, has secured an undisclosed seed round from investors including Tudip Ventures, Peyush Bansal (Lenskart), Manoj Meena (Atomberg), Ankit Nagori (Curefoods), Hitesh Dhingra (The Man Company), Alluvium Capital, and Aurinko Partners.

Co-Founder and CEO Aakriti Rawal highlighted the challenges in the market for Indian crafts, which remains largely unorganised with many players confined to small regional stores or online platforms that often lack authenticity. House of Chikankari addresses these issues by directly collaborating with artisan clusters to ensure quality and authenticity, creating contemporary designs that resonate with younger consumers.

Other News

Poshn Appoints Anit Kunj Gupta as Finance Director

Poshn, an agritech company, has appointed Anit Kunj Gupta as Senior Director of Finance and Accounts. Gupta brings nearly two decades of experience in financial planning, FMCG sourcing, and strategic advisory, having held positions in notable companies such as Zydus Wellness, Whirlpool Corporation, Udaan, and Carlsberg Group.

Velocity Launches Shipfast to Enhance D2C Brand Commerce

Velocity, a revenue-based financing startup, has introduced Shipfast, a solution aimed at enabling Direct-to-Consumer (D2C) businesses to offer faster deliveries via their own websites. The product includes options for 4-hour, same-day, and next-day shipping, facilitating quicker order fulfilment while minimising operational costs.

Co-Founder and CEO Abhiroop Medhekar stated that while access to capital can drive 40-50% growth for D2C brands, faster deliveries could unlock an additional 30-40% growth through increased customer conversions. He expressed excitement about the launch of this product, developed in-house, and noted ongoing efforts to enhance it further through potential acquisitions.