Social security firm Haqdarshak, spacetech startup InspeCity, men's grooming brand Menhood and fintech markeplace Deciml have raised early-stage funding, the companies said on Tuesday.
MSME-focused Haqdarshak Empowerment Solutions Pvt Ltd (HESPL) has closed its pre-Series A1 funding round with investments from Innovating Justice Fund and Village Capital-managed Financial Health Innovation Fund.
The company did not disclose the details of the financial transaction, but two people close to the matter told VCCircle that the deal size was pegged between $1.8 and $1.9 million.
Other investors who took part in the round include Abhishek Rungta (INT), Deep Bajaj, (Sirona Hygiene), Bhavin Pandya (Games 24X7), M/S Morpheus Ananta and Bindu Subramaniam (SaPa), among others.
The Benagluru-based startup plans to deploy the funding to develop its technology stack along with hiring talent.
Founded by Aniket Doegar, Haqdarshak aims at bridging the information and access gap between citizens and social protection services (both government and private) using tech and its field agent network.
“The investment funds will help us build tech infrastructure for the Yojana Card platform with government integrations, software and hardware to scale, and marketing expenses towards user acquisition,” said Doegar, founder and chief executive officer, Haqdarshak.
Spacetech startup InspeCity has secured $1.5 million (Rs 12.3 crore) in a pre-seed funding round co-led by deeptech venture capital firm Speciale Invest, Antler India and Veda VC. The round also saw participation from Anicut Capital, DeVC India and others.
The Thane-based company will deploy the fresh proceeds for developing its technology stack and hiring.
Founded in 2022, InspeCity aims to build the first city in a suitable orbit between Earth and the moon. The company is currently developing enabling technologies for building those cities.
"This will help us develop our technology for in-orbit servicing and autonomous robotic platforms,” said Arindrajit Chowdhury, chief executive officer, Inspecity.
The company had previously received Rs 1.5 crore as a grant from the iDEX platform along with a grant of Rs 0.1 crore from the TIH Foundation at IIT Bombay.
Men's grooming brand Menhood has raised $286,782 (Rs 2.35 crore) in an undisclosed funding round from revenue-based financier Velocity.
The Jaipur-based startup will use the capital to scale up its inventory to cater to and meet its goal of achieving revenue of over Rs 24 crore.
Founded in 2020 by Dushyant Gandotra and Shivam Bhateja, Menhood offers a range of products including manscaping trimmers, intimate hygiene solutions, apparel among others. Prior to the current funding, the startup was bootstrapped.
“Menhood aims to expand its product line and enter new markets. We have moved from a male grooming brand to a male fashion lifestyle brand, with the introduction of fragrances along with beard trimmers,” said Gandotra, founder and chief executive officer, Menhood.
Fintech startup Deciml secured an undisclosed amount in a bridge round of funding from a host of investors including Zakir Khan (Comedian), Viraj Sawant, Abhishek Oswal, Chirag Chetan Gandhi, Hemant Ruprell, Shashank Deshpande, Sandeep Kumar Chawda and Blaze Management Labs LLP.
The Pune-based company will use the funds for product expansion, geographical expansion and development of its technology stack.
Founded in 2020 by Satyajeet Kunjeer, Deciml is an application which aims to simplify and automate the investment process through round-up investing. The company claims to have received 2 lakh downloads of its application to date.