Candes, Reevoy, QuickSell, F5, MediBuddy raise funding

By Samantha Machado

  • 08 Jun 2021
Candes, Reevoy, QuickSell, F5, MediBuddy raise funding
Credit: 123RF.com

Home appliance firm Candes Technology Pvt Ltd said it raised $3 million (Rs 21.9 crores) in funding led by Anuraag and Ruchirans Jaipuria and other family offices. 

The investors include Lotus group joint managing director Nitin Passi and Redcliffe's Dheeraj Jain, the company said in a statement.  

Candes, which focuses on products like fans, geysers, TV, stabilisers, is on track to achieve Rs 200 crore in revenue this year, the firm said.  


Invoice factoring startup Reevoy raised an undisclosed amount in seed funding led by Stellaris Venture Partners, Better Capital and Startup Angel Network.  

This funding round saw participation from InnoVen Capital’s Ashish Sharma; Atul Mehta, a former World Bank Group officer; Kunal Shah from CRED; Ramakant Sharma from Livspace; and Vinod Murali from Alteria Capital.  


The capital raised will help it to scale its technology and sales capabilities, Reevoy said.  

It previously raised private debt in the UK, the US and the EU capital markets to further finance Indian SME exporters. 


Venture debt fund Stride Ventures said it led a debt round of Rs 25 crore in digital healthcare platform MediBuddy.  

MediBuddy will use the funds to further strengthen its technology, operations and marketing. 

Stride Ventures recently launched its second venture debt fund with a target corpus of over Rs 1,000 crore. It will continue to invest in early to late-stage startups across sectors through its alternative financing solutions within venture debt, it said.  


The firm has disbursed over Rs 200 crore since January this year, it said.  

MediBuddy has a partner network comprising doctors, hospitals, diagnostic centres and pharmacies across India. 


QuickSell, a mobile-first commerce suite, said it raised $2 million as a part of its pre-Series A round from InfoEdge Venture Fund and BEENEXT.  

The company said the funding will primarily be used for scaling the business, team expansion, and product enhancements.   

QuickSell was founded in 2017 by Deepak Bhagchandani. It primarily caters to SMEs selling different types of products like jewellery, clothing, handicrafts, home decor, etc. enabling owners to sell via their mobile. 

D2C brand servicing daily workplace consumption, F5, closed Rs 2.5 crore as the first tranche of its pre-Series A round, the company said.  

The round saw participation from angel investors including Mohit Satyanand, chairman of Teamwork Arts; Gurugram-based accelerator Huddle; AngelList; Venture Catalysts; Indian angel investor Rohit Chanana; and Jeevak Gupta, vice president of private equity, InvAscent.  

The company raised Rs 3 crore as part of its seed round in May last year. 

F5 said the funds will be used for research and development, customer acquisition and tech development. 

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