Hash, a direct-to-consumer cigarette brand, has raised $3.5 million (Rs 25 crore) in an angel round led by Amrac Investment Trust.
The round also saw Kunal Shah of Cred; Jitendra Gupta of Jupiter; Ashneer Grover of BharatPe; Ankur Jain of Bira91; Anshoo Sharma of MagicPin; and Suhail Sameer of BharatPe.
“The tobacco industry has a set of traditional players and aged brands. There is a large addressable market for freshly envisioned products targeted at millennials and distributed efficiently using technology. Also, there is an urgent need to equip millions of unorganised sellers and paanwalas with the latest technology solutions, to aid their business growth and efficiency,” said Hash founder Shwetank Jain.
The company aims to digitise the business of small shop owners with mobile-based apps. Founded in 2021, Hash has a network of over 1,000 small shop owners and paanwalas.
Gurugram-based private angel network AngelBay said it has acquired an undisclosed stake in KapTable, a secondary marketplace for startup equity.
KapTable said it has built a marketplace where angels and VCs can list shares in startups that they would like to sell.
The secondary market transaction requires a lot of grunt work from getting approvals of startups to stamp duties. KapTable aims to streamline this with the marketplace, the company said in a statement.
KapTable said it is on track to listing over 40 startups, the majority from India which are Series A to pre-IPO unicorns.