Digital marketing platform QuickReply.ai, supply chain efficiency solutions provider Aksum, men's fashion brand Louis Stitch and realty firm NRIHelpLine have raised early-stage funding, the companies said on Thursday.
Digital marketing platform QuickReply.ai has raised $1.14 million (Rs 9.31 crore) in a seed funding round led by Leo Capital.
The round also saw participation from Pentathlon Ventures, GSF, as well as entrepreneurs and angel investors Deepak Diwakar (MindTickle), Azhar Iqubal (Inshorts) and Dinesh Agarwal (Indiamart).
The Gurugram-based startup will use the fresh funds for product development, hiring, developing its technology stack and research and development.
Founded in 2021 by Hridayesh Gupta and Himanshu Gupta, QuickReply.ai offers an end-to-end WhatsApp engagement tool for direct-to-consumer (D2C) brands and online stores.
“Our product has been integrated as a customer engagement and retention tool, by 250 businesses. The seed funding will help us strengthen our proposition,” said Himanshu Gupta.
Business-to-business (B2B) supply chain efficiency solutions provider Aksum has secured $1 million (Rs 8.2 crore) in a pre-Series A funding round from Inflection Point Ventures.
The New Delhi-based startup will deploy the fresh proceeds to develop its technology stack and expand geographically.
Founded by Sumit Bhatia and Ankit Jain, Aksum is a supply chain efficiency solutions provider for small and medium-sized enterprises (SMEs) and large corporates. The platform offers procurement automation, which enables companies to automate their purchasing process.
“This fund raised will help us grow the business 2X and provide access to cost-efficient working capital solutions through Indian and foreign financial institutions,” said Jain.
Vikram Ramasubramanian, partner, Inflection Point Ventures, said, “The company is on track to achieve a gross merchandise value of Rs 250 crore in the financial year 2023-24.”
Men's fashion brand Louis Stitch has secured Rs 5 crore in a pre-Series A funding round from Bijli Group at a pre-money valuation of Rs 100 crore.
The company will use the funds for product expansion along with expanding its offline distribution channels across key metros in the country.
Founded in 2019 by Amol Goel, Louis Stitch is a luxury men's fashion brand which deals in shoes and leather accessories. Its products are currently available across various e-commerce platforms like Myntra, Amazon, Flipkart, and Nykaa. The brand claims to have sold 1 million pairs of shoes since its inception.
“We plan to launch apparel series of polos, shirts, and trousers. The funding will be used to expand our production and distribution capacity,” said Goel.
Non-Resident Indian (NRI) community-focused realty platform NRIHelpLine has raised an undisclosed amount in its seed funding round from a host of angel investors including A Subba Rao (Dabur International), Arjun Nijhawan (Travel Boutique Online), Rahul Narvekar (India Network), Navneet Singh (NRI Legal Services), and Bharat Bhushan Bhatia (Hines Group) amongst others.
Founded by Prasana Rao, NRIHelpLine is an NRI-focussed realty platform that helps them buy, sell and manage their assets and their associated compliances.
The Gurugram-based startup plans to onboard real estate inventory in 6 major Indian states and 29 cities for primary real estate sales and consequently in secondary sales of real estate.