Fashion brand Miraggio, deep-tech startup Tan90 Thermal Solutions, offline community platform Misfits, drone maker Zuppa, and lifestyle brand The Sock Street have secured funding in separate investment rounds, the companies said on Tuesday.
Miraggio
Miraggio, a fashion handbag and accessories brand, has secured Rs 55 crore ($6.5 million) in a Series A round, led by RPSG Capital Ventures and Client Associates Alternate Fund. The round also saw participation from Prath Ventures.
The funds will be used to expand the company's product portfolio, scale its retail footprint, and strengthen the supply chain across Asia. The company also aims to build its omnichannel distribution for premium handbags in tier II and III markets. Over the next 18 months, it will launch more than 500 new products and expand into additional handbag and accessory categories.
Founded in 2019 by Mohit Jain, the company has rapidly gained popularity among women's fashion consumers, boasting over 7 lakh customers and more than 1 million orders to date.
Tan90 Thermal Solutions
Deep-tech startup Tan90 Thermal Solutions has raised Rs 20 crore ($2.3 million) in a Series A funding round, led by NABARD's NABVENTURES. The round also saw participation from Blue Ashva Capital, Capital-A, and 3i Partners.
The Chennai-based startup will use the capital to diversify its product lines tailored for cold chains, HVAC (heating, ventilation, and air conditioning) systems, and data centers. Tan90 also intends to expand its presence in Southeast Asia, the Middle East, and Africa, while solidifying its foothold in India.
Founded by Soumalya Mukherjee, the deep-tech startup develops thermal energy management solutions using its proprietary Phase Change Materials (PCMs) technology and service models like cooling-as-a-service (CaaS). Its technology serves industries such as logistics, healthcare, food, agriculture, and manufacturing.
Misfits
Offline community platform Misfits has raised Rs 5 crore in seed funding led by Info Edge Ventures and Better Capital, as it builds a platform to connect individuals based on shared interests and hobbies.
The Gurugram-based company said the funds will be used to enhance its mobile platform, making it easier for people to join, create and grow communities, while also expanding into new cities across urban India. Misfits plans to expand into other regions of Delhi-NCR in the next three months.
Misfits was founded by Shashwat Narhatiyar, Chaitanya Dhawan, Saurabh Sharma, and Shaswat Kar, and claims to have more than 25,000 organic app downloads and hosted over 3,000 social meetups since its launch in 2022.
Zuppa
Drone maker Zuppa has raised Rs 5 crore in strategic funding from Sangam Talks founder Rahul Devan, as the company looks to scale homegrown defence technology.
The company had previously secured backing from tech entrepreneur-backed fund Four Pursuits, drone startup Garuda Aerospace, and MapMyIndia. Four Pursuits’ investment is part of a larger Rs 10-crore bridge round that Zuppa expects to complete by the end of the month.
Founded by Venkatesh Sai, Zuppa has built a proprietary computing architecture to operate its drone platform that can be used by developers and service providers to build applications with minimal effort and time. Its flagship product is the Ajeet Mini drone platform.
The Sock Street
Lifestyle brand The Sock Street has raised an undisclosed amount of funding at a flat valuation of $1 million, from Knit World Inc.
The direct-to-consumer (D2C) startup was founded by Shobhit Gaur and is led by CEO Udit Mayor. It was launched in 2024 and makes socks for GenZ and millenials.
