Early-stage startups Agraga, RevenueHero, others raise funding

Early-stage startups Agraga, RevenueHero, others raise funding

By K Amoghavarsha

  • 16 May 2023
Early-stage startups Agraga, RevenueHero, others raise funding
L-R: Venkatesh Narayanaswamy and Anoop Raghavan, executives at Agraga

Logistics startup Agraga, sales firm RevenueHero, artificial intelligence-based platform Locofy, software-as-a-service marketplace StepChange, digital manufacturing firm Leumas, fintech startup Giverly and healthcare platform Varco Leg Care have secured early-stage funding, the companies said on Tuesday.

Logistics startup Agraga has raised Series A funding of $8.5 million (Rs 70 crore) led by venture capital firm IvyCap Ventures, with participation from Alteria Capital
The Bengaluru-based startup will use the fresh funds to develop its technology stack, expand operations across India and optimize supply chain partnerships. 


Founded by Venkatesh Narayanaswamy and Anoop Raghavan in 2021, Agraga provides its user's solutions throughout the shipment lifecycle, from booking to tracking to execution. Its services include rail and road transport, ocean and air freight, warehousing, customs, insurance, and finance.

The company claims to have a client portfolio of 200 customers from the enterprise segment and micro, small and medium enterprises across geographies. 


Sales platform RevenueHero has raised $5.1 million (Rs 42 crore) in a pre-Series A funding round led by Stellaris Venture Partners, with participation from existing investor Together Fund.  

The Bengaluru-based startup will use the funding to expand its operations in the North American market, along with hiring talent. 

Founded in 2021 by Sudharshan Karthik, Aaditya S, Charanyan Venkataraghavan, Hariharan R, Krupesh Muthukumar and Pranav R, RevenueHero is a sales platform that aims to help business-to-business (b2B) companies achieve their revenue goals by increasing their sales pipeline through instant lead qualification, enrichment, routing, and scheduling, thus connecting buyers with the sales representatives directly.


“At RevenueHero, we make it easy for a customer to buy from a business by ensuring a smooth experience throughout the B2B buyer journey,” said Karthik.


AI-based startup Locofy.ai has raised $4.25 million (Rs 35 crore) in a fresh seed round from Northstar Ventures, Golden Gate Ventures, Accel, with angel investors Arash Ferdowsi (Dropbox) and Nattu Adnan (Lottiefiles), among others.  


The fresh capital will be deployed for developing its technology stack.

Founded in 2021 by Honey Mittal and Sohaib Muhammad, Locofy, is a front-end development platform that uses AI to convert designs to code. The startup currently converts Figma and Adobe XD designs into React, React Native, hypertext markup language-cascading style sheet (HTML-CSS), Gatsby and Next.js code with AI.  

“We are building our platform to enable lean teams and individuals to turn ideas into products and experiences quicker. This is about AI reducing time-to-market and improving speed, agility, innovation and collaboration at lower costs,” said Mittal.


Climate-focused SaaS startup StepChange has secured $4 million (Rs 32.92 crore) in a seed funding round co-led by Beenext and Global Founders Capital

The round also saw participation from other venture capital firms like Genesia Ventures, Whiteboard Capital, Saison Capital, Seedstars, Antler, and Speciale Invest.  
The Bengaluru-based startup plans to use the fresh funds for product development, geographical expansion and improving its region-specific carbon accounting models. 
Founded in 2022 by Ankit Jain and Sidhant Pai, StepChange is a SaaS startup that offers solutions to large corporate enterprises and financial institutions to improve their environmental, social and governance (ESG) metrics, manage climate risk, and reduce emissions across their supply chains, in-house operations, and financial portfolios.  
“We have over 10 climate researchers on our team to ensure that we are able to create solutions for businesses to become sustainable and achieve their sustainability goals. We plan to take our offerings international soon,” said Jain.

Business-to-business (B2B) digital manufacturing startup Leumas has raised $851,115 (Rs 7 crore) in a pre-seed funding round from Capital 2B, Anicut Capital and Capital A. 
The Bengaluru-based company will use the fresh capital for developing its technology stack, hiring, and its go-to-market (GTM) rollout.   
Founded by Nitesh Kumar and Subhajit Biswas, Leumas provides on-demand manufacturing solutions through its digital factory technology for brands across the nutrition, cosmetics, and pharmaceutical space. The digital factory technology is a cyber-physical platform of software-controlled robotic production lines, thus providing them flexibility around volume, variety and speed.

“Leumas is solving for volume, variety, and cost limitations of the legacy manufacturing systems through our digital factory solution. We are helping brands with on-demand manufacturing tech. to launch faster, scale nimbler and produce with efficiency.” said Kumar.
Social-impact fintech startup Giverly has raised an undisclosed amount in a pre-seed funding round led by India Accelerator’s iAngels Network. The round also saw participation from undisclosed angel investors as well.  
The Gurugram-based startup will use the capital to develop its technology platform along with hiring and branding.  
Founded in 2019 by Sagar Menon, Manvi Mehra and Jazlaan Saeed, Giverly is a fintech startup that offers pre-paid debit cards that gives users an opportunity to make cost-free donations towards social issues around India.  
The pre-paid card comes also with discounts and offers on fashion brands, dine-out venues, travel and entertainment. The startup plans to expand its offering to the corporate space in the coming time as well.  
Varco Leg Care 
Health care startup Varco Leg Care has raised an undisclosed amount in a seed funding round led by Neeraj Garg, (former executive at Hindustan Coca-Cola), Mohit Lalvani (Spincontrol India Pvt Ltd), and other undisclosed angel investors.  
The New-Delhi-based company will use the funds to expand its product offerings, technology development, hiring and geographical expansion.
Founded in 2022, Varco focuses exclusively on leg care, aiming to address end-to-end leg health concerns. The startup claims to have achieved a growth rate of 30% month over month and is listed on Walmart's platform. 
"At Varco Leg Care, we have invested in research and development initiatives to develop the first phyto-based leg care brand in Asia,” said Anondeep Ganguly, chief executive officer, Varco Leg Care.

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