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Insane AI, Loopin, Streak, others raise funding
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Bengaluru-based Artificial Intelligence (AI) powered fitness training app Insane AI has raised Rs 6.5 crore ($873,000) in a seed funding round led by early-stage venture capital fund Pi Ventures. 

People Group founder and CEO Anupam Mittal, Epic games executive Sameer Pitalwalla, SportzVillage founder Saumil Majumdar, Ghost kitchen 

CEO Karan Tanna, Arjun Jain (faculty at IISc) and LetsVenture participated in the latest seed funding round.  

The fresh funds will be deployed to accelerate growth in international market as well as to invest in product development.  

“Users who work out on our platform are encouraged to compete against themselves or with friends and can track their fitness metrics holistically. We have done a successful beta release and by the end of the year, we plan to launch it across the globe.” Anurag Mundhada, co-founder of Insane AI, said. 

Founded in 2021 by Anurag Mundhada, Jayesh Hannurkar and Sourabh Agrawal, the start-up gamifies fitness by using technology such as computer vision, augmented reality and AI to create workout games that can be played using laptops and smartphones.  

Loopin

Loopin, a software-as-a-service (SaaS) firm based on Seattle and Bengaluru, has raised $820K (Rs 6.1 crore) in its seed round led by Venture highway.   

The round also saw participations from First Cheque and a few angel investors.  

First Cheque also took part in the financing round, along with other investors.   

The seed funding will be used to develop the product, which is currently being tested before commercial launch.  

Part of the funds will also be used to expand the company’s team.   

Founded by BITS Pilani Alumni Anurag Varma, Parth Pareek and Mehul Dudi, Loopin aims to convert the calendar into a productivity hub that allows users to manage and automate their work day.

Streak

Streak, a neo-bank for children based out of Bengaluru, has raised an undisclosed amount in a seed round led by Inflection Point Ventures.  

The seed funding will be used for marketing, customer acquisition, hiring talent, and strengthening technology.  

The company said the app will be soon available in both Google Play Store and the iOS App Store.  

“We liked this approach of engaging with your customers in the early stage as it leads to long term association and trust when it comes to banking and financial transactions,” Ankur Mittal, co-founder, Inflection Point Ventures, said. 

Founded in 2020 by Mitul Mehta, Shiv Bidani & R Balaji, Streak aims to enable financial awareness among children through a combination of finance and learning through gamification.  

Flam

Augmented-reality (AR) based social media network, Flam, has raised $3.5 million in seed round led by Silicon Valley Quad and Inventus Capital Partners SV, 9Unicorns, Kwaish Ventures. 

The Bengaluru headquartered firm will use funds to fuel growth and user engagement.  

The round will also help build team focusing on computer vision, graphics engineering, GPS mapping, social media product development.  

“Even as Big Tech companies double down on a variety of AR use cases, we believe that social media networking will play a key role in the massive adoption of AR. This seed funding will enable us to drive this shift towards AR for social interactions,” Shourya Agarwal, co-founder and CEO, Flam, said. 

Founded in 2021 by Shourya Agarwal, Rajat Gupta and Malhar Patil, the company has launched its product ‘FlamCard’, which generates AR videos with the help of printed user videos.  

The startup has more than 40 million FlamCard scans within three months of its launch. 

Skymet 

Skymet, India’s weather forecasting and agriculture risk solutions company, has raised Rs 12 crore debt funding from Northern Arc and Caspian Impact Investments.

Skymet raised the funds to bolster its ground observation systems and prediction of floods and cyclones in East India.

According to Allied Market Research, the need for more accurate prediction has unleashed a wider domain for the global weather forecasting and services market to grow from $1.2 billion in 2016 to $2.7 billion by 2023. 

The size of the weather forecasting industry in India is pegged at around $100 million.

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