Cloud-based communication platform CometChat and deeptech startup Metastable Materials have secured early-stage funding, the companies said on Monday.
Mumbai and Denver-based cloud-based communication firm CometChat has raised $5 million (around Rs 40 crore) in a debt funding round from Utah-based Zions Venture Fund.
The company will use the fresh funds for product development, geographical expansion and consolidation across the Asia Pacific region and Europe.
It claims to have cumulatively raised Rs 145 crore till date and counts Signal Peak Ventures, Matchstick Ventures, Range Ventures and Unbound Ventures, among others as investors.
Founded in 2019 by Anuj and Anant Garg, CometChat provides enterprises with messaging and communications platforms within apps and websites to improve brand user engagement. It allows users to get real-time engagement and have conversations via messaging, voice calling and HD video chat.
“We are a revenue-focused business, growing in the international markets. The aim is to raise capital for an extended runway of 5 years as we move towards our growth plans.” said Anuj Garg, co-founder and chief executive officer at CometChat.
The round also saw participation from Speciale Invest, Theia Ventures and a clutch of angel investors including Akshay Singhal and Kartik Hajela (Log9), Archana Priyadershini, (fwdSlash Capital) and Sanjeev Rangrass, (Unitus Ventures).
The Bengaluru-based company plans to deploy the capital for hiring and scaling up its current recycling facility.
Founded in 2021 by Manikumar Uppala, Saurav Goyal and Shubham Vishvakarma, Metastable Materials claims to have developed its proprietary method for recycling and extracting valuable materials from lithium-ion (Li-ion) batteries.