Hyderabad-based period care brand Lemme Be has bagged Rs 5 crore in a seed funding round. The round saw the participation of UNI-M Ventures led by Gunnwant Vaid and Aniket Gore, Nikhil Vora, founder of Sixth Sense Ventures and Multiply ventures, among others.
The period care brand plans to invest the fundraise in expanding its product range with sustainable and comfortable offerings.
Founded in 2020, the product portfolio that the brand offers consists of pads, tampons, pantyliners and menstrual cups, among others.
Currently, the brand said that it is witnessing a rapid steep growth of 100% month-on-month. The team has expanded from six to a workforce of over 35 individuals.
Lemme Be products are available on their website, as well as other e-commerce sites including Amazon, Flipkart, among others.
“At Lemme Be, we are a bunch of people who are living their lives in the same ‘flow’ as our customers. I am immensely grateful to our investors for believing in the idea of Lemme Be and helping us create a period-friendly environment for menstruators all across. We are an all-inclusive brand with affordable, sustainable and comfortable products. The range is expanding..,” said Devidutta Dash, the Founder of Lemme Be.
Algorithmic Biologics plans to deploy the fresh capital to scale its applications and strengthen IP portfolio to develop more building blocks of molecular technologies to realise its computing platform vision.
“We are pursuing our vision of smarter molecular testing leading to better health for all,” said Manoj Gopalkrishnan, founder and CEO, Algorithmic Biologics.
“We are deeply invested in science and technology, and are bringing cutting-edge ideas from molecular computing and computer science to molecular testing,” Gopalkrishnan added.
Axilor Labs is a venture curation initiative by Axilor to accelerate the commercial success of transformative ideas around global challenges facing human health and wellness. They aim to support ideas at the impactful proof-of-science stage and build start-ups together with innovators where the impact of transformative tech is realised commercially.
They are seeking to enhance molecular technologies and enable innovation for healthcare, agriculture, animal husbandry, pharma, food safety, and other verticals where molecular information is significant.
Last year, in November, they invested in the business-to-business (B2B) commerce company CapGrid.