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Parseable Secures $2.75 Million Seed Funding to Transform Log Analytics

By
Garima Bansal
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parseable founder

Bengaluru-based startup Parseable has raised $2.75 million in a seed funding round led by Surge, a scale-up program by Peak XV Partners, with additional participation from NP-Hard Ventures. This infusion of capital marks a significant milestone for Parseable, as it aims to enhance its cloud-native platform designed to manage and analyze the burgeoning volumes of log data generated by today’s digital enterprises.

Founded in 2022 by Nitish Tiwari, Parseable addresses the critical challenge of log data management with a focus on innovation and efficiency. The platform leverages open-source formats such as Apache Parquet and Apache Arrow, ensuring that log data is not only accessible but also interoperable. This approach breaks down traditional data silos, allowing businesses to integrate log data seamlessly with other tools and systems, thereby enhancing overall business intelligence.

Parseable’s platform is tailored for developers, offering an easy-to-use, cloud-based solution for storing and managing logs. By adopting open standards, Parseable ensures that businesses can derive meaningful insights from their log data, facilitating better decision-making and operational efficiency.

The funding will accelerate Parseable’s efforts to innovate in the realm of log data management. As digital businesses continue to generate increasing amounts of log data, Parseable’s solutions are becoming indispensable for industries such as fintech, cybersecurity, and healthcare, among others.

Surge, part of Peak XV Partners, has a track record of nurturing early-stage startups, having supported over 140 startups across 16 sectors. Collectively, Surge startups have raised over $2 billion in follow-on funding post the accelerator program. Parseable’s inclusion in this prestigious group underscores its potential to make a significant impact in the log analytics space.

With the fresh funds, Parseable aims to enhance its product capabilities and expand its market reach. The company’s focus on using open-source formats for data processing ensures that it remains at the forefront of technological innovation, providing businesses with the tools they need to manage their log data efficiently and effectively.

Nitish Tiwari, the founder of Parseable, expressed his excitement about the funding, highlighting its importance for the company’s growth and innovation. “This investment will enable us to scale our platform and introduce new features that will help our customers manage their log data more effectively,” Tiwari said.

Siddhartha Ahluwalia, Managing Partner at Neon Fund, praised Parseable’s potential, citing the founders’ extensive B2B SaaS experience and the platform’s advanced capabilities. He believes Parseable has the potential to become a flagship SaaS company from India, thanks to its global customer base and revolutionary product design.

Parseable’s innovative approach to log analytics and its commitment to using open standards positions it as a leader in the industry. As the company continues to grow and evolve, it is poised to transform the way businesses handle log data, making it easier for them to gain insights and drive efficiency in their operations.

Zomato to Infuse Rs 400 Crore into Blinkit and Zomato Entertainment

By
Garima Bansal
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In a strategic move, leading foodtech player Zomato, founded by Deepinder Goyal, has announced plans to invest a substantial sum of Rs 400 crore (equivalent to $48 million) into two of its key subsidiaries, Blinkit, founded by Albinder Dhindsa and Zomato Entertainment. The investment aims to bolster Blinkit’s quick commerce operations and fortify Zomato Entertainment’s endeavors in the live events and ticketing sectors.

Of the total investment, Rs 300 crore ($36 million) will be directed towards Blinkit, Zomato’s quick commerce arm, positioning it to enhance its competitive stance against rivals such as Swiggy Instamart and Zepto. Concurrently, Rs 100 crore ($12 million) will be injected into Zomato Entertainment, further supporting its expansion and development initiatives. The decision to allocate these funds was formalized by the board at Zomato, as per regulatory filings obtained from the Registrar of Companies.

This fresh investment follows Zomato’s continued commitment to Blinkit, with a total investment of Rs 2,300 crore ($277 million) since its acquisition in August 2022. Blinkit, formerly known as Grofers, was acquired by Zomato in an all-stock transaction valued at Rs 4,477 crore ($568 million).

Zomato’s latest financial results for Q4 FY24 showcased Blinkit’s notable performance, achieving EBITDA profitability and registering a robust 19.4% growth in revenue, amounting to Rs 769 crore. Overall, Zomato reported a profit of Rs 175 crore in the last quarter, reflecting the positive momentum in its various business segments.

Notably, Blinkit has garnered attention from analysts, with Goldman Sachs suggesting its valuation surpasses that of Zomato. Sanjeev Bikhchandani, founder of Info Edge, an early investor in Zomato, also expressed optimism about Blinkit’s potential, foreseeing substantial growth in its future trajectory.

Deepika Padukone’s D2C Venture, 82°E, to Raise Fresh Capital in Seed Round Extension

By
Garima Bansal
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deepika-padukone 82E
Deepika Padukone, Founder 82 E

In an exclusive development, 82°E, a direct-to-consumer (D2C) startup in the personal care sector, is gearing up to secure Rs 50 crore (approximately $6 million) in an extension of its seed funding round from both existing and new investors. This marks the initial investment round for the company in the current fiscal year.

According to regulatory filings accessed from the Registrar of Companies (RoC), the board at 82°E has approved a special resolution to issue 50,00,000 series seed 2 CCPS at a price of Rs 100 each, aiming to raise Rs 50 crore. KA Enterprises LLP, an investment entity linked to Deepika Padukone and her family, is expected to participate in this round, with potential involvement from other investors.

The infusion of fresh capital will be directed towards expansion initiatives, fostering growth, and supporting general corporate objectives. 82°E previously raised $7.5 million in its seed funding round, led by DSG Partner and IDEO Ventures, alongside support from Padukone’s family office in December 2022.

Deepika Padukone and her family office hold a majority stake of 59.6% in the company, followed by actor Ranveer Singh with a 5.32% stake.

Founded in 2022 by Deepika Padukone and Jihar Shah, 82°E specializes in skincare and body care products catering to both men and women. Its product range includes cleansers, face masks, moisturizers, sunscreen, and more.

During the initial nine months of FY24, 82°E exhibited substantial growth, achieving an operational revenue of Rs 22.82 crore between March and December 2023, compared to Rs 11 crore in the previous fiscal year. However, the company reported an EBITDA loss of Rs 25.1 crore during the same period, indicating ongoing investments in expansion and development.

82°E faces competition from various brands in the personal care sector, including Plum, mCaffeine, Wow Skin Science, and publicly listed Mamaearth.

Clapingo Secures Pre-Series A Funding to Boost On-Demand English Tutoring Platform

By
Garima Bansal
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Clapingo, a platform offering on-demand English tutoring services, has successfully secured an undisclosed investment in its recent pre-Series A funding round. Notable investors, including Biswa Kalyan Rath, Sandeep Aggarwal, Appurv Gupta, and Foundership HQ, contributed to this funding endeavor. The capital infusion is poised to bolster Clapingo’s platform, particularly in refining its fluency report system, which ensures users receive timely and accurate feedback.

A significant portion of the raised funds will be allocated to amplifying Clapingo’s marketing initiatives, aimed at broadening its user base and bolstering its presence in the market. The company envisions leveraging this investment to propel its growth trajectory and enhance its market impact significantly.

Established in 2021 by Sameer Agrawal and Abhishek KG, Clapingo serves as a pivotal platform for English language learners, fostering a conducive environment crucial for professional success across diverse linguistic domains. Through its innovative peer-led and tutor-led models, Clapingo facilitates user interaction and practice sessions, supported by an AI teaching assistant. Subscriptions to Clapingo’s services start at a monthly fee of Rs 999.

Operating presently in India and the Middle East, Clapingo has reported notable revenue figures, with approximately Rs 1.5 crore in 2021, Rs 8 crore in 2022, and Rs 14 crore in 2023. The company aims for substantial growth this year, targeting a revenue milestone of Rs 80 crore.

PointO Secures ₹62 Million Funding to Revolutionize India’s Lithium Battery Ecosystem

By
Garima Bansal
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Riki Biswas Pointo

Bengaluru-based startup PointO has announced a significant milestone in its mission to transform India’s lithium battery landscape. The company has successfully raised ₹62 million (~$743,236) in seed funding, with Equirus InnovateX Fund (EIF) leading the round with an investment of ₹50 million ($599,364). Founded by IIT-Guwahati alumni Riki Biswas, Gaurav Jindal, and Pratimendra Bagui, PointO aims to establish a comprehensive lithium battery ecosystem encompassing manufacturing, financing, and servicing.

The infusion of funds comes at a pivotal moment for PointO as it plans to expand its physical presence to more than ten cities over the next 12 months. Initially focusing on financing solutions for e-rickshaw owners in Tier-II cities, PointO aims to address the low adoption rates of lithium batteries in this segment, attributed to operational and financial complexities.

Riki Biswas, CEO of PointO, emphasized the transformative potential of lithium-ion batteries for e-rickshaw drivers, stating, “By offering higher mileage and reducing the cost of capital, we aim to potentially triple or quadruple e-rickshaw drivers’ take-home income.”

India’s transition to e-rickshaws, with over 2.4 million currently operating and replacing traditional rickshaws, presents a significant opportunity for PointO. With lithium batteries comprising a substantial portion of the total cost of ownership and growing sustainability concerns, PointO is strategically positioned to capture significant market share and drive industry-wide transformation.

Sunder Nookala, Early-Stage VC and Head of Tech and Digital at Equirus, expressed enthusiasm about partnering with PointO, affirming their commitment to driving positive change and sustainable growth in the lithium battery ecosystem. As India moves towards a future powered by electric vehicles, PointO’s innovative approach holds the promise of revolutionizing the mobility sector and fostering sustainable development.

Driver Assistance Startup Sapience Automata Raises Rs 1.75 Crore in Seed Round

By
Garima Bansal
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Sapience Automata, a driver assistance startup based in Bengaluru, has successfully raised Rs 1.75 crore in a Seed round led by Inflection Point Ventures. This investment marks a significant milestone for the company, which aims to revolutionize road safety in India through its plug-and-play driver assistance technology. Founded by Satyajit Neogi in 2021, Sapience Automata focuses on leveraging advanced AI and autonomous driving tech to eliminate accidents on Indian roads.

The funds raised will be strategically utilized for various purposes, including growing sales for driver camera, forging key partnerships in the automotive domain, developing advanced driver-assistance systems (ADAS) technology, and filing international patents. With a strong focus on customization, Sapience Automata offers solutions tailored to the specific needs and conditions of Indian drivers, thereby addressing the unique challenges posed by Indian roads.

Operating primarily from Bengaluru, the company is currently focused on serving commercial fleets, laying the groundwork for future expansion into the broader B2C market. Satyajit Neogi, the Founder and Chief Executive & Technology Officer, brings over eight years of experience in self-driving cars and AI, holding a PhD from NTU Singapore. Collaborating with industry experts like Unmesh Dabhade, the Co-Founder and Product Head, who brings over six years of expertise in IoT and software development, Sapience Automata is well-positioned to drive innovation in the field of road safety technology.

Sapience Automata’s vision aligns with the pressing need to address road safety concerns in India, where reports indicate 1.5 lakh deaths and 5 lakh critical injuries annually from road accidents. By developing cutting-edge ADAS technology customized for Indian conditions, the company aims to significantly reduce road accidents caused by human error, such as distraction and drowsiness. With the support of Inflection Point Ventures, an investing platform comprising over 12,000 CXOs, HNIs, and professionals, Sapience Automata is poised to make a meaningful impact in the journey towards safer roads in India.

FlashAid Raises $2.5 Million to Revolutionize Healthcare and InsurTech

By
Garima Bansal
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0
FlashAid

FlashAid, a Mumbai-based healthcare and InsurTech startup, has successfully raised $2.5 million in a pre-Series A funding round. Led by Piper Serica Angel Fund and supported by global venture capital firm SOSV, this investment signifies a growing interest in innovative solutions addressing healthcare accessibility and affordability. Founded by Manoj Gupta and Gunjali Kothari, FlashAid is dedicated to democratizing health insurance through its proprietary pre-underwritten products, open APIs, and embedded solutions. Formerly known as EasyAspataal, the company operates with an API-first approach, aiming to make health insurance more accessible to digital India.

The fresh infusion of funds will propel FlashAid’s growth trajectory, enabling the company to embark on an ambitious expansion plan targeting six additional cities. This strategic move aligns with the company’s mission of extending its reach and impact across diverse demographics, thereby bridging gaps in healthcare coverage. FlashAid has developed a unique channel for distributing retail health plans through a B2B2C platform, forging partnerships with over 20 platforms in the past year alone. This collaborative approach has enabled the company to distribute over 30,000 health covers and achieve profitability at the EBITDA level.

Gunjali Kothari, co-founder of FlashAid, emphasized the significance of embracing digital evolution to promote health equity in India. By adopting an API-centric strategy, FlashAid aims to align with shifting customer behaviors and enhance accessibility to healthcare services, ultimately benefiting a wider population. FlashAid’s innovative approach to healthcare and InsurTech has garnered recognition for its potential to revolutionize the industry. Abhay Agrawal, Managing Director and Founder of Piper Serica Angel Fund, commended FlashAid’s efforts in unlocking the mass market and driving industry growth through digital access.

With the retail health insurance market poised for exponential growth, FlashAid is well-positioned to capitalize on emerging opportunities and expand its footprint. The company’s commitment to innovation, coupled with strategic partnerships and a customer-centric approach, positions it for sustained success in India’s dynamic healthcare landscape.

Karban Envirotech Secures Rs 8.9 Crore in Seed Funding Led by All In Capital, Titan Capital, and Rainmatter

By
Garima Bansal
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Karban Envirotech, a pioneering firm in the realm of energy-efficient electronic appliances, has successfully raised a seed funding of Rs 8.93 crore. The funding round was spearheaded by prominent investors including Titan Capital, Rainmatter, and All In Capital, with additional participation from Urban Company and JK Family Office. Notable individual investors such as Kunal Shah, Anupam Mittal, and Bharat Jaisinghiani also contributed to the round, underscoring the widespread support for Karban’s innovative vision.

Founded in December 2021 by Karan Bansal and Tanya Goyal, Karban Envirotech has emerged as a trailblazer in the development of high-end consumer appliances. Leveraging cutting-edge Computational Fluid Dynamics (CFD) technology, the company has enhanced the efficiency and performance of its flagship product, Karban Airzone, which is available both on its website and various marketplaces.

The influx of funds will be instrumental in catalyzing Karban’s growth trajectory, enabling the company to augment its research and development initiatives, fortify its team, and drive innovation in new product development. Karan Bansal, the founder of Karban, expressed gratitude for the support received from investors, emphasizing the pivotal role of this funding round in advancing the company’s mission of delivering world-class consumer products proudly Made in India.

Karban’s foray into the smart consumer appliances market comes at a time when there is a burgeoning demand for innovative, energy-efficient solutions. With an estimated market size of Rs 50,000 crore in India, the potential for disruption and innovation in this space is immense. Karban aims to bridge existing gaps in the market by prioritizing design, technology, energy efficiency, and sustainability in its product offerings.

Kushal Bhagia, the founder of All In Capital, lauded Karban’s innovative approach, particularly highlighting the design-forward nature of Karban Airzone, which he believes will revolutionize the air purification segment. By seamlessly integrating aesthetics and functionality, Karban is poised to set new benchmarks in home appliances, catering to the evolving needs of modern consumers.

Plane Secures $4 Million in Seed Round, Unveils Innovative ‘Plane One’ Pricing Plan

By
Garima Bansal
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0

Plane, an open-source project management platform, has successfully closed a $4 million Seed round funding led by OSS Capital. This substantial investment marks a pivotal moment for the company as it seeks to accelerate community growth and expand its footprint in the enterprise segment. The funding will be instrumental in driving innovation, enhancing product development, and attracting top talent to bolster Plane’s core team.

In tandem with the funding announcement, Plane has introduced ‘Plane One,’ an innovative pricing plan tailored specifically for self-managed instance owners at growing companies. Plane One addresses critical demands for simplified instance governance, heightened security measures, and improved performance, catering to the evolving needs of modern businesses striving for operational efficiency.

Vamsi Kurama, Co-founder and CEO of Plane, expressed enthusiasm about the funding round and the launch of Plane One, emphasizing its significance in realizing the company’s vision. He highlighted the importance of providing user-friendly, extensible, and cost-effective project management solutions to meet the diverse needs of businesses, particularly those in the burgeoning startup ecosystem.

Plane One offers a one-time perpetual license priced at $799, with an introductory discount of $100 for the first 100 orders. The plan boasts an array of features designed to streamline project management processes and empower teams to achieve their goals with greater efficiency and effectiveness. From one-click deployment to weekly performance and security updates, Plane One offers a comprehensive suite of tools aimed at facilitating seamless collaboration and driving productivity.

Joseph Jacks, Founder at OSS Capital, commended Plane’s innovative approach and community-driven ethos, citing the company’s commitment to open-source principles as a key factor in their decision to invest. With Plane One, Plane is poised to establish itself as a leading player in the project management software landscape, offering a compelling alternative to traditional SaaS solutions.

Founded in November 2022 by Vamsi Kurama and Vihar Kurama, Plane is driven by a mission to simplify project management for teams of all sizes across diverse industry verticals. With its focus on user-centric design and robust user growth, Plane is poised to redefine how businesses approach project management, setting new standards for collaboration and efficiency in the digital age.

Arch0 Secures $1.25 Million Pre-Seed Funding to Revolutionize Cloud Security

By
Garima Bansal
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0

Cloud security startup Arch0 has secured a significant pre-seed funding round of $1.25 million, led by prominent early-stage venture capital firm Leo Capital. The funding round also witnessed participation from Village Global, Indian Silicon Valley Capital, Appreciate Capital, SuperMorpheus, and notable angel investors, underscoring the strong investor confidence in Arch0’s innovative approach to cloud security.

Founded in late 2022 by Nithin Jois and Tilak Thimmappa, Arch0 introduces a revolutionary approach that centralizes identity as the foundational element of cloud security. By embedding proactive and automated security measures across the Software Development Life Cycle (SDLC), Arch0 aims to provide dynamic, real-time insights accessible anytime, anywhere, thereby transforming the cloud security landscape.

With nearly a decade of experience in various aspects of cybersecurity, including product security, DevSecOps, and cloud security, Jois and Thimmappa bring a wealth of expertise to Arch0. The startup plans to utilize the raised capital to attract and onboard top talent for its core team, further advancing the use of AI in cloud security operations.

Nithin Jois, CEO & Co-founder of Arch0, commented, “We’re not just offering a platform but embedding security as a fundamental layer of the cloud experience. Our proprietary AI-powered solution provides an immediate understanding of the ‘who, what, when, where, and how’ of each security incident, ensuring issues are addressed before they escalate.”

In addition to strengthening its core team, Arch0 aims to enhance its marketing and educational initiatives to educate users about the nuances of cloud security, the role of AI, and best practices for safeguarding digital assets. Through these efforts, Arch0 seeks to create a more informed, secure, and resilient ecosystem for its users.

Arch0’s solution transcends traditional ‘code-to-cloud’ strategies by operating autonomously and furnishing comprehensive insights into every security incident. This capability ensures swift, effective remediation, empowering businesses to effortlessly elevate their cloud security, enhance resilience, and ensure compliance with stringent regulations.

As its immediate goal, Arch0 strives to introduce enterprise-grade security to medium-sized enterprises (MSEs) managing sensitive data. Looking ahead, the startup plans to rapidly evolve its offerings to address the complex security challenges faced by larger enterprises, further solidifying its position as a leader in cloud security innovation.

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