Fintech startup Digivriddhi Technologies; logistics firm Pikndel; social media application Offside and e-sports gaming platform EsportsXO raised early-stage funding, the companies said on Tuesday.
Dairy-focussed fintech startup Digivriddhi Technologies (DGV) has raised $6 million (Rs 50 crore) in a Series A funding round, led by Omidyar Network India. The round also saw participation from existing investors Omnivore and InfoEdge Ventures.
The startup will use the funding to develop its technology stack as well as expand its presence across India.
Founded in 2019 by Ragavan Venkatesan, DGV is a platform that provides dairy farmers and microenterprises access to institutional credit while simplifying and digitising payments across the dairy value chain.
This is also the second institutional fundraise for the startup. DGV raised a seed round of $3.1 million in November 2021, led by Omnivore and InfoEdge Ventures along with angel investors.
The startup is also expanding its footprint across states like Karnataka, Andhra Pradesh, Telangana, Madhya Pradesh and Maharashtra.
Pikndel has raised $285,000 (Rs 2.4 crore) in a pre-seed funding round led by early-stage investor 100X.VC. Anay Ventures, Flawless Company, Shavdia Ventures and Pradeep Desu also participated in the funding round.
The startup will use the funding to expand its presence across India.
Founded in 2022 by Teja Vadlamani, Siddharth Batra, and Tullika Batra, Pikndel provides same-day delivery services for direct-to-consumer and e-commerce brands. Sellers can choose to store their products in Pikndel’s shared dark stores. Additionally, the platform provides flexible delivery timelines, ranging from four hours to same-day delivery services from their warehouses.
At present, the startup renders its services in Delhi NCR, Mumbai, and Bangalore.
“The investment received will be important in our expansion plans as we intend to have a pan-India presence," said Vadlamani, co-founder and chief business officer, Pikndel.
Offside
Offside has raised $150,000 (Rs 1.25 crore) in a pre-seed funding round from early-stage investor 100X.VC.
Notably, this is the second investment of 100X.VC on the same day.
The platform will use the investment to increase its user base as it targets having 500,000 users in the short term.
Founded by Shivam Jha and Rishav in 2022, Offside is a social application for cricket enthusiasts. The platform provides a space to socialise with fellow fans and offers features like live match updates, interactive discussions, curated cricket content and a group of free-to-play cricket contests and games.
It currently claims to have a user base of 50,000.
EsportsXO has secured an undisclosed amount in a funding round from a host of investors including SOSV’s Orbit Startups, WeFounderCircle and Imperial Holdings along with existing investors SucSEED Indovation Fund and Mumbai Angels.
Founded in 2020 by Vikas Goel, Utsav Umang, and Rohit Raj, EsportsXO provides online e-sports tournament management systems. Additionally, the organisation is also home to a curated assembly of creators and athletes.
“XO aims to become the largest game and player discovery platform for gamers. With BattleXO, we are not just targetting gamers but also addressing the needs of game developers and tournament organisers, enabling them to leverage technology for scalable reach through data-driven campaigns. The infusion of capital will be used to increase our team strength as well as our user base,” said Goel, co-founder and chief executive officer, EsportsXO.
