immunitoAI, a biotech startup focused on AI-powered antibody discovery and screening platform, said it has raised $1 million in a seed funding round led by pi Ventures, with participation from existing investor Entrepreneur First.
The capital will be used for product development and industry partnerships.
Founded by Aridni Shah in 2020, immunitoAI designs and screens the best antibody candidates for a given target antigen.
“Integration of artificial intelligence along with biology has become a reality today. Biology has always been difficult to study and understand, but with the use of AI, we have started to bridge the gaps and what was thought to be impossible earlier has become possible.
Our vision is to make antibody therapy a norm with the help of our technology. We plan on using this seed funding to develop our AI products and validate the predictions through biological experiments,” Aridni Shah, CEO and co-founder, immunitoAI, said.
Anveshan, a D2C health-based food brand, said it has raised Rs 3.67 crore in a seed funding round led by DSG Consumer Partners along with Titan Capital and Anjali Bansal from Avaana Capital.
The round also saw participation from boAt Lifestyle founders Sameer Mehta and Aman Gupta; Ashutosh Valani and Priyank Shah of Beardo.
Anveshan said it aims to use the raised capital to hire new talent, strengthen and standardise its manufacturing units.
The funds will be used to enhance the startup’s operational processes, improve quality control parameters as well as research and development of new product ranges.
Founded by Aayushi Khandelwal, Akhil Kansal, and Kuldeep Parewa, Anveshan said it offers high-quality, natural, affordable, and minimally processed food products directly sourced from Indian farmers embracing traditional Ayurvedic methods.
The company said it has reported a spurted growth of 25x in its revenue in the last 18 months.
With a team of over 50 employees, the company plans to increase the sales contribution from its website and app and set up more FMCG distribution channels next year.
“We, as a brand, wish to become the platform that bridges the gap between farmers and end-consumers. The proceeds will be used to propel our quality control methods, raw material sourcing, research and development of new products, and packaging innovations. We are also looking to establish in-house labs for our product testing.” Aayushi Khandelwal, co-founder, Anveshan, said.
GameEon Studios, one of the newest entrants in the fast-growing gaming space, said it has raised $320,000 in a financing round led by Mumbai Angels Network,
The company said it will use the fresh capital to further strengthen its publishing model by establishing a strong distribution network for its mobile-based games.
“With this funding, we will be tapping into both the domestic as well as international markets and reach an extended user base. The core idea is to create a robust revenue stream that will support the development costs that will be incurred for the creation of our high-quality games,” Nikhil Malankar, founder of GameEon Studios, said.
Founded in 2016 by Nikhil Malankar, GameEon Studios said it has developed over 150 games that include a mix of their games and those built to specifications for clients.
Farmers Fresh Zone
Farmers Fresh Zone, an agritech startup, said it has raised Rs 6 crore in a pre-Series A funding round led by Indian Angel Network (IAN), with participation from IAN Fund, Malabar Angel
Network and Native Angel Network.
With this fundraise, the company has so far raised Rs 8.5 crore. It is also eyeing to close a $5 million Series A round and has engaged an ibanker already.
Farmers Fresh Zone said it will use the fresh funds to expand across South India, hire new talent, develop infrastructure and strengthen the research and development.
The Kochi-based startup said it has expanded its operations to Tamil Nadu and now has a presence in Kochi, Trivandrum, Kottayam, Trissur, and Coimbatore.
“The Indian fruits and vegetable sector is valued at $100 billion, of which a staggering 96% is fragmented and disorganised. At Farmers Fresh Zone, we are building a supply chain that offers a superior customer experience.
We ensure our customers get safe-to-eat and pesticide-free products, and that our farmers get the right rates for their produce. We provide them data-based predictive information about the existing demand in the market to eliminate any wastage,” Pradeep PS, founder and CEO of Farmers Fresh Zone, said.
BeatO acquires Novique Health
BeatO, a diabetes management app, said it has acquired Pune-based Novique Health for an undisclosed amount.
Through the acquisition of Novique Health, BeatO said it will augment its services of combating diabetes through clinically proven management, reduction and reversal of diabetes by addressing the condition’s root cause.
Novique Health is an online speciality medical clinic focused on a scientific approach for the treatment and reversal of Type 2 diabetes.
“With Novique’s acquisition, we will leverage their expertise and scientific approach in reversing type 2 diabetes, further strengthening BeatO’s clinical programme,” Gautam Chopra, co-founder and CEO, BeatO, said.
BeatO was founded in 2015 by Yash Sehgal, Abhishek Kumar and Gautam Chopra. Through a mobile app, the startup offers a comprehensive diabetes management and care platform via its glucose-monitoring solutions.