Early-stage startups Spendflo, Dozee, others raise funding

Early-stage startups Spendflo, Dozee, others raise funding

By K. Amoghavarsha

  • 04 Apr 2023
Early-stage startups Spendflo, Dozee, others raise funding
(L-R) Ritesh Khandelwal and Ankit Jaipuria, co-founders of Zyod

Software-as-a-service (SaaS) startup Spendflo, health monitoring platform Dozee,solar infrastructure company Prozeal Infra, apparel sourcing and manufacturing startup Zyod, API development platform Dozer, content marketplace Narrato, legaltech startup Lawyered and edtech firm ixamBee have secured early-stage funding, the companies said.

SaaS startup Spendflo has raised $11 million (Rs 90.4 crore) in a series A funding round co-led by Prosus Ventures and Accel.  


The round also saw participation from existing investors Together Fund, Signal Peak Ventures and Boldcap Ventures.     

The company will use the fresh funds for product development, hiring and geographical expansion.   

Founded in 2021 by Siddharth Sridharan, Ajay Vardhan and Rajiv Ramanan, Spendflo offers all-in-one SaaS buying and management solutions that help organisations ensure spending and stack are optimized.  So far, the company has raised $15.4 million in total funding.


Last year, Spendflo raised $4.4 million in a seed funding round led by Accel India and Together Fund with participation from BoldCap and Signal Peak Ventures.


Health monitoring platform Dozee has secured $6 million (Rs 49.3 crore) as a top-up to its Series A funding round from existing investors Prime Venture Partners, 3one4 Capital, YourNest VC, with State Bank of India, J&A Partners Family office and Dinesh Mody Ventures.  


The startup will deploy the fresh money for research and development (R&D) and geographical expansion within India as well as globally.   

Founded by Mudit Dandwate and Gaurav Parchani, Dozee enables healthcare workers to remotely monitor patients’ vital parameters such as heart rate, respiration rate, blood pressure, blood oxygen saturation levels, temperature, and ECG.     

In January, Dozee received an undisclosed amount from British International Investment (BII), the UK’s development finance institution (DFI) to upgrade 6,000 hospital beds across 140 public hospitals in India. 


Solar infrastructure company Prozeal Infra Engineering Pvt Ltd on Tuesday said it has raised $4 million (Rs 32.8 crore) in a Series A funding round from Chandrakant Gogri's family office arm Alchemie Ventures.

The Ahmedabad-based firm will use the fresh capital to scale its operations and execute developer-model projects for energy and utility companies.


Founded in 2013 by Manan Thakkar and Shobit Rai, Prozeal Infra sets up commercial solar projects. The company counts Ashok Leyland, Pidilite Industries, Mahindra CIE, Indian Oil, Hinduja Renewables and JSW as part of its client portfolio.   

Business-to-business (B2B) apparel sourcing and manufacturing startup Zyod has raised $3.5 million (Rs 28.7 crore) in a seed funding round led by Lightspeed.

The round also saw participation from FJ Labs, Panthera Peak Capital and angel investors including Abhishek Goyal (Tracxn), Abhinav Sinha (Oyo), Gaurav Hinduja (Gokaldas Exports) and Ravi Khandelwal (Yufta) among others.

The Gurugram-based startup will use the fresh funding to develop its technology stack, onboarding manufacturers and suppliers along with hiring across teams.

Founded in 2023 by Ankit Jaipuria and Ritesh Khandelwal, Zyod partners with small and medium apparel manufacturers and suppliers and allows fashion brands to use their platform to source products at the best possible minimum order quantity (MOQ).

The company claims to have a network of over 30 suppliers currently.

Technology startup Dozer has secured $3 million (Rs 24.6 crore) in a seed funding round led by Sequoia Capital India's accelerator programme Surge, with participation from Gradient Ventures and January Capital.

The fresh funding will help the company scale its product and engineering teams.

Founded by Matteo Pelati and Vivek Gudapuri, Dozer enables engineers to build application programming interfaces (APIs) from multiple data sources without compromising on performance.

Artificial intelligence (AI)-based content platform Narrato has raised $1 million (Rs 8.2 crore) in a pre-seed funding round led by AirTree Ventures.

The round also saw participation from community-powered global venture fund TheFund and a host of angel investors, including Ruchi Kalra and Bhuvan Gupta (OfBusiness).

The company will deploy the fresh proceeds for development, marketing and expansion. 

Founded in 2022 by Sophia Solanki, Narrato uses generative AI to ideate, create, collaborate and publish content. The platform has an AI content assistant which assists with ideation, creation (text and image content generation) and optimization.

It counts startups like Chargebee, Preply, Zepto, Park+, and Rocketlane, among others as part of its client portfolio.

Legaltech startup Lawyered has raised $1 million (Rs 8.2 crore) in a pre-Series A funding round led by India Accelerator’s angel investors’ network iAngels

The round also saw participation from Logistics Fund India (LFI); Apoorva Vora (Finvolve); Bhuvan Gupta (OfBusiness) and Kunal Dikshit (ICICI Home Finance) amongst others.  

The Gurguram-based startup will use the funding to scale its technology product, with channeling it towards sales and marketing.  

Founded in 2017 by Himanshu Gupta, Lawyered intends to provide accessible and affordable legal services to users specifically in the mobility market (commercial and non-commercial vehicles) tangled in on-road legal issues.


Online learning startup ixamBee raised $607, 914 (Rs 5 crore) in a pre-Series A funding round led by Inflection Point Ventures (IPV). The round also saw participation from SAN Angels, existing investors Mumbai Angels and Keyur Joshi (MakeMyTrip).  

The funding will be deployed towards developing the tech stack, marketing and content development.   

Founded in 2017 by Chandraprakash Joshi, Arunima Sinha, and Sandeep Singh, ixamBee offers aspirants to prepare for jobs-related competitive exams such as RBI, SEBI, NABARD, public sector banks, insurance companies and staff selection commission (SSC) among others.

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