The Tech Panda takes a look at recent funding events in the tech ecosystem, seeking to know where the cash is flowing.
Startup: Zave
Sector: AI Shopping Assistant
Amount: INR4.7 Crore
Led by: Inflection Point Ventures
AI shopping assistant startup Zave has raised INR4.7 crore in a bridge round led by Inflection Point Ventures, with participation from Mucker Capital. The funds will be used to strengthen its AI-powered product, enhance platform reliability and scalability, and advance its AI intelligence to support its continued growth trajectory of 50% month-over-month.
Mitesh Shah, Co-founder, Inflection Point Ventures says “The online shopping ecosystem has become increasingly cluttered with consumers constantly switching between platforms to compare products, prices, and reviews. Zave is addressing this challenge by using AI to understand shopper intent in real time, delivering personalized recommendations that redefines convenience and enhances the overall shopping experience. In a short span, the company has demonstrated impressive traction, strong engagement metrics, and growing transaction volumes, validating a clear product-market fit. At IPV, we believe Zave is well-positioned to become a key intelligence layer in the future of digital commerce.”
Startup: Ikin Global
Sector: IoT
Amount: US$2 Million
Led by: Unicorn India Ventures, Callapina Capital and AWE Funds
Ikin Global, an IoT smart lock brand created by SectorQube has raised $2 million in Pre-Series A2 led by Unicorn India Ventures, Callapina Capital and AWE Funds, which is an early growth venture capital firm in India that invests in innovative, tech-led businesses that promote gender equity and sustainability. Funds raised will be strategically deployed to facilitate geographical expansion into new markets including the US, Europe and West Asia. The funds will also be utilized for new product development, specifically to build a comprehensive security platform tailored for the oil & gas industry in India. Furthermore, they will be directed towards team expansion and operations scaling that will help increase production capacity in India and strengthen field operations to support international rollout.
Anil Joshi, Founder & Managing Partner, Unicorn India Ventures says, “IKIN Global is solving a real business problem, as e-commerce and logistics sector expand, the need for intelligent asset protection is expected to grow. There is a high demand for smart warehouses, digital supply chain and connected logistics networks that has created a rise in demand for IoT enabled security solutions. The company has been doing exceptionally well and we believe it has a strong potential to strengthen its positioning not only in India but in the International markets as well. Their growing capabilities is the reason we continue to back them.”
Startup: Vetic
Sector: Pet Healthcare Network
Amount: US$40 Million
Led by: Bessemer Venture Partners
Vetic, an Indian pet healthcare network, closed a $40 million funding round led by Bessemer Venture Partners (BVP), with participation from existing investors Greenoaks Capital, Lachy Groom, and JSW Family Office. Bessemer has been an investor in multiple earlier rounds as well.
“Every great consumer category in India needs one operator willing to do the unglamorous work of building high quality supply which scales with consistency. For pet care, that’s Vetic. Gaurav and his team have turned a fragmented, doctor-led trade into a genuine consumer healthcare platform, with the unit economics and clinical standards to prove it. We’re continuing to double down on the journey with them because category leaders compound, and Vetic is the category leader in this space. We’re excited to see what comes next,” said Vishal Gupta, Partner, Bessemer Venture Partners.
Startup: CREST
Sector: Fintech
Amount: US$3.1 Million
Led by: BEENEXT, Sparrow, Shastra VC, DeVC, Warmup Ventures, Atrium Ventures & 91ventures
CREST, an AI-native Fractional Family Office and new-age asset management company, has raised USD 3.1 Mn in pre-seed funding led by BEENEXT, Sparrow, Shastra VC, DeVC, Warmup Ventures, Atrium Ventures and 91ventures with participation from 40+prominent Indian and UAE founders and CXOs, including Amit Ranjan, Chirag Taneja, Revant Bhate, Shantanu Deshpande, and Kashish Sharma. The funds will be deployed to strengthen the company’s technology platform, expand its family office and investment teams, deepen regulatory and compliance capabilities, and build its asset management offerings across Global and Indian public markets and Real Estate. With this announcement, CREST is formally coming out of stealth as it builds a structured family office platform for India’s emerging wealth and value creators.
Saksham Pant, Principal at BEENEXT, said, “Founders, CXOs, and business families today are looking for trusted partners to help manage and grow their wealth long term. Girish, Zuhaib and the CREST team, with their strong investment expertise and an AI product built on top of India’s significantly improved financial infrastructure, are building a modern family office platform for the next generation of wealth creators and we’re excited to partner with them.”
Startup: Speedioo
Sector: Consumer-Tech
Amount: INR10 crore
Led by: Atomic Capital
Consumer-Tech platform Speedioo has raised INR10 crore in a seed round led by Atomic Capital. This marks the company’s first institutional fundraise, with the capital set to be used towards building its AI-native technology stack, expanding distribution across key demand centres in India, deepening its partnerships with OEMs as a key growth driver, and scaling its dealer partner and retail network. As a part of its expansion strategy, Speedioo also plans to grow its retail footprint across cities through a scalable franchise model aimed at strengthening its supply & operational Infrastructure, along with expanding its senior leadership team.
Apoorv Gautam, Founder & Managing Partner, Atomic Capital says, “”We are excited about the megatrends shaping India’s used two-wheeler category. The used market is roughly 1.5X the size of the new two-wheeler market, and as Indian consumers grow more aspirational, premiumization within the second-hand category is becoming a defining theme. Despite the scale of the opportunity, there is no clear winner today, no ‘Spinny for bikes’, and the rapid electrification of two-wheelers opens up an entirely new whitespace for organised, tech-led players. We have deep respect for the way Sagar and Ajit have built Speedioo: bootstrapped, capital-efficient, with strong unit economics and overall profitability from very early on. Their DNA aligns closely with our playbook of not throwing capital at the problem, but building sustainable businesses that scale exponentially. We also have a sharp point of view on value creation in this category, across technology platform building, distribution expansion, and a deliberate focus on the most lucrative segments. We are excited to partner with the Speedioo team on this journey.”
