Encubay Angel Network has marked the close of its first investment of Rs 50 lakh in lifestyle and beauty brand Ready Set Jet.
The investment aims at building a sustainable ecosystem, Encubay said.
“The cosmetics industry in India is pegged to grow at a compound annual rate of 25% and touch $20 billion by 2025 and Ready Set Jet’s products and strategy are well placed to gain market share,” said Aarti Sinha, director of account management of Mastercard India Services.
Sinha is among the many investors who were involved in closing the deal.
Fundraising platform ah! Ventures has invested an undisclosed amount in beverages startup Barbrew.
The bet made through its first gear platform, which helps startups raise up to Rs 1 crore, marks the 11th investment made this year, ah! Ventures said. It aims to do more than 50 investments in 2021, totalling more than Rs 150 crore.
“This space has massive potential because it’s an untapped market and we are sure with the founding team’s passion and high spirits Barneys Hard Seltzers will be a huge success,” Amit Kumar, partner at ah! Ventures, said.
Barneys Hard Seltzer is an alternative drink to beer, wine and cocktails, being produced by Barbrew.
Electric tractor startup Cellestial E-mobility said it has raised $500,000 in a pre-Series A round, bringing its valuation to $35 million.
Funding participants included Electric Motor Company co-founder Ashik Karim.
The round also saw participation from Gurj Aujla and other rich persons from Canada with links to agriculture, commercial banking and wealth management.