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Jhana.ai Raises $1.6 Million in Seed Funding to Transform Legal Technology

Supriya Biswas
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Jhana.ai Raises $1.6 Million in Seed Funding to Transform Legal Technology

Legal-tech startup Jhana.ai, leveraging artificial intelligence, has successfully raised $1.6 million in a seed funding round led by Together Fund, a venture capital firm. The funding attracted notable investors including Shyamal Anadkat from OpenAI, former VMware executive Scott Davis, Kunal Shah of Cred, and Razorpay founders Harshil Mathur and Shashank Kumar. Angel investors Cory Levy and Ojas Shukla also participated in this round.

Established at Harvard, Jhana.ai is currently beta testing its AI legal assistants with lawyers, law firms, and in-house legal teams throughout the country. The funds raised will be directed towards the creation of proprietary datasets and the development of AI models, alongside recruiting experts in both law and artificial intelligence.

The startup indicated that an additional portion of the funding related to India is nearing closure and will be announced shortly. This funding comes at a critical juncture for India’s legal system, which is grappling with an overwhelming backlog of nearly 5 crore pending cases. By integrating AI into legal services, Jhana.ai aims to enhance accessibility and efficiency within the sector.

“I aspire to create technology that democratizes access to justice, intelligence, and strategic resources for those who rely on our legal system,” stated Em McGlone, co-founder of Jhana.ai.

This funding round is particularly significant given the recent downturn in investment for AI startups in India, which reported only $8.2 million in the April-June quarter—an 82% decline compared to the previous year—while the U.S. attracted a staggering $27 billion in the same timeframe.

Earlier this year, it was reported that Krutrim AI, another prominent AI startup in India, raised $50 million in a funding round led by Matrix Partners India, achieving a valuation of $1 billion.

First Coffee Secures $1.2 Million in Funding Led by Beenext

Supriya Biswas
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First Coffee Secures $1.2 Million in Funding Led by Beenext

First Coffee, a grab-and-go specialty coffee brand, has raised $1.2 million in a funding round spearheaded by venture fund Beenext, which focuses on South Asia and India. Several notable investors also participated, including Ashish Gupta (Helion Venture Partners), AngelList India, Ritesh Malik (Innov8), Sahil Malik (Da Milano), Aman Arora (Keventers), and Agastya Dalmia (Keventers).

The funds will be used to expand First Coffee’s presence across key urban areas in New Delhi, NCR, and tier-I cities in northern India. The company also plans to invest in hiring and marketing initiatives to drive growth.

“We’re proud to introduce specialty coffee scoring 91% on the Specialty Coffee Association (SCA) scale to the Indian market. At First Coffee, we’re not just offering coffee but creating a premium experience tailored to our customers’ fast-paced lives,” said co-founder Shiv Dhawan.

Founded in 2024 by Dhawan and Sohrab Sitaram, First Coffee sources its beans from the Harley Coffee Estate in Chikmagalur. The brand is set to focus on small-format quick-service restaurants (QSR) in high-traffic areas like malls, corporate parks, high streets, and metro stations, with plans to launch 35 stores nationwide by the second quarter of the next fiscal year.

Anirudh Garg, partner at Beenext, commented, “First Coffee is not just selling a product but delivering a coffee experience, blending technology, sustainability, and quality coffee.”

This announcement comes as the specialty coffee market in India sees increasing interest from investors. In March, AbCoffee raised $3.4 million in Series A funding, while Subko, a coffee roaster and craft bakehouse, raised $10 million led by Zerodha’s Nikhil Kamath. Other players in the space include Slay Coffee, Sleepy Owl, Hatti Kaapi, Blue Tokai, and Rage Coffee.

DailyObjects Secures $10 Million in Funding Led by 360 One Asset

Supriya Biswas
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DailyObjects Secures $10 Million in Funding Led by 360 One Asset

DailyObjects, a direct-to-consumer (D2C) design and lifestyle brand, has successfully raised $10 million (approximately ₹83 crore) in a funding round led by 360 One Asset, previously known as IIFL Asset Management. This round also saw participation from existing investor Roots Ventures.

The capital will be allocated towards expanding the distribution network, enhancing product innovation, increasing the workforce, and boosting manufacturing capabilities.

“Design has always been at the heart of DailyObjects. As we expand, we’re eager to introduce new product innovations to the market. This funding enables us to broaden our product offerings with a stronger emphasis on design and innovation,” stated Pankaj Garg, co-founder and CEO.

Established in 2012 by Garg and Saurav Adlakha, the Gurugram-based brand provides premium, functional, and high-utility everyday items. Its diverse product lineup includes tech accessories, wireless chargers, bags, and desk essentials, all crafted from durable materials with a focus on homegrown craftsmanship to meet the needs and aspirations of modern consumers.

“We are poised for significant growth, with plans to expand our manufacturing capabilities and increase inventory in line with business demands,” added Adlakha.

For its offline expansion, DailyObjects will concentrate on innovative, curated, and experiential retail concepts. The brand opened its first physical store in December of last year and had previously raised $2 million from early-stage venture capital firm Roots Ventures.

Karan Ahuja, fund manager at 360 One Asset, remarked, “The company has rapidly scaled up through a capital-efficient model, and 360 One Asset is excited to support the next phase of its journey.”

Rapido Raises $200M, Eyes Quick Commerce & Expands Mobility Footprint to Hit $1.1B Valuation

Supriya Biswas
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Rapido Raises $200M, Eyes Quick Commerce & Expands Mobility Footprint to Hit $1.1B Valuation 
                                                                                                                                                                                                                                                       

Rapido, a leading mobility startup, has successfully secured $200 million in a funding round spearheaded by WestBridge Capital, solidifying its position among India’s unicorn startups with a new valuation of $1.1 billion.

The Bengaluru-based company, which originally began as a two-wheeler bike-taxi service, has expanded into new sectors, including three-wheeler and four-wheeler ride-sharing. Co-founder and CEO, Aravind Sanka, stated that this capital injection would fuel the company’s expansion into hyperlocal and quick commerce deliveries. He also highlighted Rapido’s ambitious plans to further penetrate the four-wheeler market.

Rapido’s daily operations have now reached a staggering 2.3-2.5 million orders, with approximately 7% of those coming from B2B services, including food deliveries for Swiggy during non-peak hours for bike-taxis. The company has also joined hands with the Open Network for Digital Commerce (ONDC) to provide logistics solutions.

Over the last year, Rapido’s growth trajectory has been exponential, with the company experiencing a significant rise in its gross merchandise value (GMV) driven by diversification into autos and cabs across 100+ cities. In fact, auto-rickshaw bookings now contribute around 40% to the GMV, followed by bike-taxis and cabs, each contributing 30%.

Amidst growing competition from industry giants like Uber, Ola, and the emerging Namma Yatri, Rapido remains focused on its expansion strategy. The company is particularly keen on bolstering its four-wheeler cab services through a unique subscription model that ensures fair earnings for its driver partners by eliminating commission-based fees.

Additionally, Rapido is eyeing the rapidly growing quick-commerce sector. With a fleet of over 600,000 active two-wheeler riders, the company is exploring partnerships to enhance delivery times for ecommerce and quick commerce firms.

According to Sanka, the quick commerce industry in India is poised for exponential growth, and Rapido aims to leverage its extensive rider base to carve a niche in this sector.

The $200 million funding will not only propel Rapido’s ambitious expansion plans but also bolster its ability to compete with both established and emerging players in India’s highly competitive mobility and logistics space.

Vahan Secures $10 Million to Scale AI-Powered Recruitment Platform

Supriya Biswas
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Vahan Secures $10 Million to Scale AI-Powered Recruitment Platform

Vahan, a pioneering platform specializing in recruitment for blue-collar workers, has raised $10 million in its latest funding round, with leading contributions from Khosla Ventures. This fresh capital injection will be utilized to further develop the company’s AI-driven recruitment technology and expand its services into sectors like manufacturing, warehousing, and retail, according to founder and CEO Madhav Krishna.

The funding round also saw participation from Y Combinator, US-based Gaingels, and Vijay Shekhar Sharma, founder of Paytm. Vahan’s innovative ‘AI Recruiter’ currently operates in English and Hindi, with plans to extend its capabilities to cover eight additional Indian languages and hundreds of regional dialects within the next year.

Krishna revealed that Vahan currently facilitates the hiring of around 25,000 workers per month. With the new funding, the company aims to broaden its reach beyond gig workers, who have been the core focus so far, into other key industries with massive employment potential. The expansion will open doors for a much larger pool of job seekers, with the company poised to tap into the millions of workers employed in these sectors.

Founded in 2016, Vahan has quickly positioned itself as a tech-driven solution for connecting blue-collar workers with employment opportunities. The platform has placed over 500,000 workers across more than 480 cities. Its growing list of clients includes major names in the gig economy such as Zomato, Swiggy, Flipkart, Zepto, Blinkit, Amazon, Rapido, and Uber.

Madhav Krishna mentioned that Vahan has experienced exponential growth, scaling 3-4 times over the past year. He emphasized that the newly targeted verticals—manufacturing, warehousing, and retail—could eventually become the primary focus of the platform, as they represent significantly larger markets than the delivery sector, which currently hires approximately 500,000 people monthly.

This new funding follows Vahan’s previous $8 million round, also led by Khosla Ventures. Vinod Khosla, the founder of Khosla Ventures, praised Vahan’s innovative approach to recruitment, highlighting how the platform reduces repetitive tasks and provides scalable, efficient hiring solutions for millions of blue-collar workers across India.

Fresh Bread Brand The Health Factory Raises $3.5 Million to Expand Healthy Offerings

Supriya Biswas
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Fresh Bread Brand The Health Factory Raises $3.5 Million to Expand Healthy Offerings

The Health Factory, a pioneering health-focused bread brand, has successfully secured $3.5 million in seed funding, spearheaded by Surge, the scale-up initiative of Peak XV for early-stage startups. Prominent angel investors, including Kartik Mehta, Ali Tambawala, and Sunil Tulsiani, also contributed to this funding round.

With this investment, The Health Factory aims to enhance its product development and R&D capabilities, paving the way for the introduction of new product lines. The company plans to expand its retail footprint across both traditional and modern trade channels while improving its logistics and operational technologies.

Vinay Maheshwari, the founder of The Health Factory, expressed enthusiasm about the investment, stating, “This funding will empower us to penetrate new markets with our health-oriented products. We have garnered interest from various tier-1 and tier-2 cities, allowing us to broaden our reach and make healthier options available to more consumers.”

Founded in 2018 by Maheshwari and Mohit Sankhala, The Health Factory specializes in producing protein bread, vegan protein bread, and zero maida bread, all of which are free from chemicals and preservatives. The brand’s products are currently accessible in cities like Mumbai, Pune, Bengaluru, Delhi, Chandigarh, Ahmedabad, Lucknow, Hyderabad, and Chennai, through rapid delivery platforms such as Zepto, Swiggy, Instamart, and Blinkit.

This funding round coincides with the surge in quick commerce and an increasing demand for direct-to-consumer brands, spurring considerable investor interest in early and mid-stage D2C companies. The Health Factory has seen a remarkable 65-fold increase in sales over the past two years and aims to further penetrate tier-1 and tier-2 cities to satisfy the rising demand for healthier bread alternatives.

Ahammune Biosciences Raises $5 Million to Advance Breakthrough Treatment for Vitiligo

Supriya Biswas
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Ahammune Biosciences Raises $5 Million to Advance Breakthrough Treatment for Vitiligo

Ahammune Biosciences has successfully secured $5 million in a Series A funding round, primarily led by pi Ventures. Additional investors include Capital2B, Colossa Ventures, Bipin Agarwal, Unicornus Maximus LLP, and existing backers like Ideaspring Capital, Kotak Alternate Assets, and Legacy Assets LLP, along with the Indian Angel Network (IAN).

The funds will enable the clinical-stage therapeutics company to conduct Phase II trials for its innovative drug candidate targeting vitiligo, a chronic autoimmune condition characterized by the loss of skin pigmentation, for which no effective cure currently exists. Moreover, the investment will help expand Ahammune’s patent portfolio and enhance its research and development initiatives for various immune-mediated skin disorders.

Ahammune’s commitment to addressing significant unmet medical needs is evident in its innovative approach. Parul Ganju, co-founder of Ahammune, highlighted that their small molecule drug candidate stands out as it avoids generalized immunosuppression, offering a first-in-class mechanism that not only halts the progression of vitiligo but also encourages the activity of melanocytes, the cells responsible for skin color.

Having demonstrated safety in Phase I trials with healthy participants, the topical application of this drug candidate aims to provide substantial improvements for millions of individuals affected by this lifelong condition. With Phase II trials on the horizon, Ahammune is focused on evaluating both the safety and efficacy of the treatment for vitiligo patients.

In addition to its vitiligo efforts, Ahammune is dedicated to developing a robust pipeline of patented molecules aimed at treating a range of dermatological and autoimmune diseases, reinforcing its position in the medical research community.

Whatfix Raises $125 Million, Reaches $900 Million Valuation*

Supriya Biswas
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Whatfix Raises $125 Million, Reaches $900 Million Valuation*

Whatfix, a prominent SaaS firm specializing in digital adoption, has successfully secured $125 million in a funding round led by Warburg Pincus, which invested $100 million, with SoftBank contributing an additional $25 million. This latest funding elevates Whatfix’s valuation to approximately $900 million, a significant increase from $568 million in 2021 following a $90 million round led by SoftBank.

Founded in 2014, Whatfix offers a range of services, including a digital adoption platform, simulated training environments, and no-code analytics aimed at enhancing user productivity and compliance. Currently, 66% of the company’s revenue is generated from the US, with plans to further expand in EMEA and APAC regions.

CEO Khadim Batti stated that the funding will be used for strategic acquisitions and to enhance existing products, particularly in GenAI, while also focusing on operational efficiency. The company aims for a 40% growth rate over the next two years and plans to break even before pursuing an IPO.

Whatfix serves over 700 enterprises, including well-known names like Microsoft and Cisco. As the Indian SaaS market continues to flourish, Whatfix’s growth trajectory positions it favorably within the competitive digital adoption platform landscape.

HomeLane Acquires DesignCafe, Secures ₹225 Crore from Hero Enterprise and Ranjan Pai

Supriya Biswas
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HomeLane Acquires DesignCafe, Secures ₹225 Crore from Hero Enterprise and Ranjan Pai

HomeLane, a rising name in home interior services, has acquired competitor DesignCafe in a share-swap deal that values the merged entity at ₹3,000 crore. This merger, pending regulatory approval, is expected to drive revenue to ₹1,000 crore in fiscal 2025, a 31.4% increase from ₹761 crore in FY23, as stated by co-founder Srikanth Iyer.

The combined entity is set to generate an annual recurring revenue of ₹900 crore and remains cash-flow positive. Both brands will operate independently, targeting different market segments, with a total of 82 stores and around 2,750 employees nationwide. Co-founder Tanuj Choudhry emphasized the need for solid capitalization in light of potential market fluctuations as they consider an IPO in the near term, especially amidst a robust real estate market.

This acquisition comes at a time when the home services sector is facing declining business volumes and funding challenges. Founded in 2014, HomeLane also operates brands like Doowup, Cubico, and Wrapzap, serving approximately 45,000 customers across 30 cities through over 60 experience centers.

Before this deal, HomeLane raised a total of $133 million, while DesignCafe secured $79.1 million, including $5 million from WestBridge Capital in March 2023. HomeLane also raised $9 million through convertible notes in June 2023.

Iyer noted that the fresh capital will focus on growth and technology, with an emphasis on profitability and building trust in the middle and lower-middle market segments.

In 2022, DesignCafe launched Qarpentri, while HomeLane introduced Doowup in 2023. Livspace, backed by Ikea, is also eyeing an IPO by 2026 and had previously considered acquiring HomeLane.

Shezaan Bhojani, co-founder of DesignCafe, remarked that this merger combines HomeLane’s tech platform with DesignCafe’s design expertise, enhancing their journey toward a public offering. Munjal expressed confidence in the partnership’s potential for innovation and growth.

Zaggle Acquires 26% Stake in Mobileware Technologies to Enhance Embedded Payment Solutions

Supriya Biswas
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Zaggle Acquires 26% Stake in Mobileware Technologies to Enhance Embedded Payment Solutions

Zaggle, a rapidly growing SaaS fintech company, has made a strategic investment by acquiring a 26% stake in Mobileware Technologies for Rs 15.6 crore, based on a post-issue, fully diluted valuation. The acquisition aims to leverage Mobileware’s expertise and infrastructure, enabling Zaggle to expand its embedded payment solutions and strengthen its overall offerings.

The newly raised capital will allow Zaggle to further enhance its payment capabilities and provide a more comprehensive suite of services to its clients. Mobileware Technologies, headquartered in Mumbai, specializes in enabling digital transactions for financial institutions such as banks and non-banking financial companies (NBFCs). Their services include switch solutions like Unified Payments Interface (UPI), Immediate Payment Service (IMPS), Aadhaar-enabled Payment System (AePS), Bharat Bill Payment System (BBPS), and a proprietary API banking platform called TransXT.

“This investment will not only strengthen our existing offerings but also create new avenues for developing advanced payment solutions that are crucial to our clients’ operations,” Zaggle said in a statement. The fintech company sees this partnership as a stepping stone toward building innovative and seamless payment experiences.

Mobileware Technologies has built a strong reputation in the industry, holding multiple certifications from the National Payments Corporation of India Ltd (NPCIL). This solidifies their standing as a trusted fintech player providing digital payment solutions.

“As the industry continues to evolve, customers increasingly demand integrated and secure solutions, especially in the BFSI sector. Zaggle’s strategic vision aligns perfectly with our goal of revolutionizing the digital payments landscape. Together, we will leverage our combined strengths to offer seamless, secure, and enhanced payment experiences to a diverse range of clients,” said Satyajit Kanekar, co-founder and CEO of Mobileware Technologies.

The acquisition positions Zaggle as a key player in the fintech space, particularly in the growing embedded payment segment. By collaborating with Mobileware, Zaggle aims to capitalize on the increasing demand for digital and embedded payment solutions, ensuring they remain at the forefront of this rapidly evolving industry.

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