E-commerce platform Hyugalife, virtual spiritual platform DevDham, healthtech startup Larkai Healthcare and fuel aggregator startup Nawgati raised early-stage funding, the companies said on Wednesday.
E-commerce platform Hyugalife has raised $1 million (Rs 8.3 crore) in a mix of equity and debt investments from existing as well as new investors.
New investors included Stride Ventures and GetVantage as well as existing investors like Dhaval Parikh of Prasol Chemicals, amongst others took part.
The funding will be used for product development and improving technological stack, the firm said in a statement.
Founded by Sachin Parikh, HyugaLife is a health and wellness-focused e-commerce platform that provides products across ten categories like health supplements, sports nutrition, health foods, among others.
In 2023, it raised $5 million in a pre-Series A funding round from venture capital firm Peak XV Partners’ early-stage accelerator Surge, Early Spring, Arihant Patni and Aman Tekriwal and other high-net-worth individuals (HNIs).
The startup is also backed by actress Katrina Kaif and cricketer KL Rahul.
DevDham (previously DevDarshan) has raised $720,496 (Rs 6 crore) in seed funding from early-stage investors Titan Capital, All In Capital, Veda VC and TDV Partners.
Founded by Pranav Kapoor, Suyash Taneja and Sagnika Chowdhury, DevDham is a platform that aims to connect devotees globally with Hindu temples, offering online daily darshan, pujas, and digital donations.
The startup will use the funding to expand its network of temples, improve the technology infrastructure and strengthen marketing efforts, according to its statement.
Additionally, the startup has raised $1 million in funding cumulatively, to date.
The platform claims to have a network of 500 temples and 2,000 priests across India in 18 states. It also claims to have served 100,000 devotees to date.
“We aim to lay a digital foundation for Indian culture, sanatan dharma, and Vedic traditions,” said Kapoor, co-founder, DevDham.
Larkai Healthcare has raised $500,000 (Rs 4.16 crore) in a seed funding round from a host of early-stage investors including Faad Network, QI Ventures and Real Time Angel Fund, amongst others.
With the infusion of funds, the company aims to increase its sales verticals through strategic investments.
Founded in 2020 by Pritam Dhalla and Abhilash Chakraverty, Larkai Healthcare bridges the gap between diagnosis and treatment, by using artificial intelligence to deliver instant and early diagnosis with accuracy.
It uses AI to provide accurate reports that can detect ailments thereby helping in treatments with precision.
Meanwhile, Faad Network is an early-stage operator that has an angel network as well as an angel fund, which got SEBI’s approval in 2022. It has invested in over 75 startups, with follow-on rounds in more than 55% of its portfolio companies.
Nawgati
Nawgati has raised $144,075 (Rs 1 crore) in investments from natural gas refining public sector undertaking (PSU) GAIL (India) Ltd.
The Noida-based startup will utilise the capital infusion to improve its technology and geographical expansion and fuel pump station onboarding over the next quarter.
The investment comes a few months after the startup raised seed funding. In October, it raised an undisclosed amount in its seed round from All In Capital.
Founded by Aalaap Nair, Vaibhav Kaushik and Aryan Sisodia, Nawgati provides a retail operations platform, Aaveg, to fuel stations and a fuel discovery app, the Nawgati Fueling App, to end-consumers.
It aims to save time for both fuel providers and consumers, reduce congestion, and improve overall operational efficiency.
