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

By
Supriya Biswas
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0

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

By
Supriya Biswas
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0

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

By
Supriya Biswas
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0

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*

By
Supriya Biswas
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0

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

By
Supriya Biswas
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0

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

By
Supriya Biswas
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0

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.

Clean Electric Raises $6 Million to Revolutionize EV Charging Technology

By
Supriya Biswas
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0

Pune-based battery technology startup Clean Electric has secured $6 million in a new funding round led by Info Edge Ventures, Pi Ventures, and Kalaari Capital, with additional participation from Lok Capital and other investors. This infusion of capital will fuel the company’s mission to develop advanced fast-charging solutions for electric vehicles (EVs) and energy storage systems.

Launched in 2016 by IIT-BHU alumni Gupta, Abhinav Roy, and Ankit Joshi, Clean Electric has created proprietary rapid-charging technology that significantly cuts down charging time for EVs, reducing it to under 12 minutes. This groundbreaking solution outperforms current industry benchmarks, which often require 40 minutes to an hour for a full charge.

With collaborations already in place with 12 electric vehicle manufacturers (OEMs), Clean Electric is well-positioned to expand its reach. The newly raised funds will help the company extend its rapid-charging technology to electric four-wheelers (e-4Ws) and commercial vehicles, driving growth in sustainable transportation solutions.

Having raised nearly $9 million in total funding, Clean Electric is pushing the boundaries of what’s possible in EV battery innovation. As demand for electric mobility grows, the company aims to make EV charging faster, more convenient, and more widely accessible.

Everest Fleet Secures $30 Million from Uber India to Expand Clean Energy Operations

By
Supriya Biswas
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0

Everest Fleet, a Mumbai-based fleet management company, has successfully raised $30 million in its ongoing Series C funding round, led by Uber India. This investment marks a significant step towards scaling Everest Fleet’s operations and enhancing its fleet of eco-friendly vehicles, including compressed natural gas (CNG) and electric vehicles (EVs).

Founded by Siddharth Ladsariya, Everest Fleet is dedicated to revolutionizing the shared mobility landscape in India. The recent capital infusion will primarily support the company’s growth initiatives, facilitating the expansion of its CNG and EV fleet in alignment with India’s sustainable transportation goals.

“The shared mobility sector is rapidly evolving, and we are committed to playing a pivotal role in this transformation,” said Ladsariya. He emphasized that the investment will accelerate Everest Fleet’s efforts in promoting clean energy transportation, helping to reduce emissions across urban areas.

Earlier this year, Everest Fleet secured a $12 million loan from Axis Bank, backed by GuarantCo, to expedite its transition to a sustainable electric fleet. In a previous round, the company had also raised $20 million from Uber, indicating a strong partnership and commitment to innovation within the mobility sector.

As ride-hailing platforms in India face increasing demand and a shortage of vehicles, Everest Fleet is well-positioned to address these challenges by providing a reliable and scalable supply of vehicles to platforms like Uber. In September 2023, Everest received an additional $6 million from private equity firm Paragon Partners, bringing its valuation to approximately $217 million.

Last year, Ladsariya set ambitious targets to convert the company’s fleet from CNG to EVs, with plans to deploy 10,000 electric vehicles by 2026. As part of its strategy, Everest Fleet has partnered with Tata Motors to enhance its EV acquisition.

Pepsales Secures $1.1 Million to Drive AI-Powered Sales Demo Automation

By
Supriya Biswas
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0

Pepsales, a rising software-as-a-service (SaaS) platform designed to enhance sales team productivity, has successfully raised $1.1 million in funding. The round was led by Chiratae Ventures, with participation from other investors, positioning Pepsales to further develop its cutting-edge AI-driven solutions.

Founded in 2023 by Ajay Singh and Abhinandan Sahgal, Pepsales is leveraging artificial intelligence (AI) and machine learning (ML) to help business-to-business (B2B) SaaS companies deliver personalized and impactful product demonstrations. With the newly raised capital, Pepsales plans to scale its operations in key markets, particularly in the U.S. and India, while doubling its customer base by the end of the year.

The platform, which is currently in beta mode, offers businesses the ability to automate the creation of customized demos tailored to specific clients, significantly enhancing engagement and boosting the likelihood of closing deals. According to Abhinandan Sahgal , personalized demos can improve win rates by 50%, making this AI-powered solution a game-changer for sales teams. The platform’s goal is to bring the customer count from 10 to 25 before its full-scale public launch.

Chiratae Ventures, a prominent venture capital firm known for its investments in successful companies like Policybazaar, Curefit, and Firstcry, led the funding round, demonstrating confidence in Pepsales’ potential to disrupt the sales automation space.

With the enterprise application software market spending more than $200 billion annually on sales and marketing, Pepsales is tapping into a promising sector. As demo automation emerges as a new category within this space, Pepsales aims to establish itself as a leader by continuing to innovate and refine its product for a growing client base.

Atlys Secures $20 Million in Series B Funding to Expand Global E-Visa Services

By
Supriya Biswas
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0

Atlys, a fast-growing e-visa platform, has successfully secured $20 million in a Series B funding round led by Peak XV Partners and Elevation Capital, with participation from new investors DST Global and Headline. This round of investment builds on previous backing from Peak XV Partners and Elevation Capital, further strengthening the company’s ability to scale its operations.

The newly raised capital will be deployed to expand Atlys’ global footprint, enhance its product and engineering capabilities, and strengthen its leadership team. Founded in 2021 by Mohak Nahta, a former Pinterest engineer, Atlys aims to simplify and streamline visa applications for global travelers. With plans to enter the Middle East market, the company is positioning itself as a key player in the rapidly evolving visa services sector.

Atlys’s innovative platform significantly reduces visa processing times, offering approval within 55 seconds for over 150 destinations. This positions Atlys as a formidable competitor in the travel and visa industry, alongside established players such as VisaHQ and Akbar Travels. The platform has already processed over a million visas to date, a testament to its efficiency and growing user base.

In addition to visa processing, Atlys has recently introduced an AI-powered visa evaluator, providing users with transparency on their approval chances. The company has also diversified its offerings, adding e-sims and travel insurance to its suite of services. Atlys operates across both business-to-business (B2B) and business-to-consumer (B2C) segments, with its app serving both individual travelers and travel agents.

Atlys has experienced impressive growth, expanding its reach significantly. Since its inception, the company has raised a total of $37 million in funding, including its earlier $12 million Series A round. Looking forward, Atlys is poised to benefit from the projected 10.5% compound annual growth rate (CAGR) in the international travel market over the next decade.

India’s outbound travel market has also seen a remarkable surge, with 30 million people traveling abroad in 2023, a 20% increase from the previous year. Atlys is well-positioned to capitalize on this growth, driven by a rising middle class and greater access to affordable travel options.

In a memorable moment during the 2024 Paris Olympics, Nahta pledged to provide free visas to all Atlys users if Indian javelin thrower Neeraj Chopra secured a gold medal. While Chopra won silver, Nahta fulfilled his promise, offering free visas to users in celebration of the achievement.

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