Fitness and wellbeing technology startup Portl, fintech startup ProsParity and homegrown tea brand Freshleaf secured early-stage funding, the companies said.
Hyderabad-based Portl has raised $3 million (Rs 25 crore) in a pre-Series A funding round led by early-stage venture capital firm Bharat Innovation Fund. The round also saw participation from T-Hub Foundation and existing investor Kalaari Capital, the startup said on Thursday.
The startup will use the fresh capital for product development, market expansion, and improvement of its artificial intelligence (AI) systems.
Portl was founded in March 2021 by Indraneel Gupta, Vishal Chandapeta and Armaan Kandhari. Its flagship offering, the Portl Studio, along with its digital platform, integrates artificial intelligence to provide personalized fitness and wellness experiences in users’ homes, luxury hotels and gyms.
Portl’s smart mirror is a 43-inch 4K screen with embedded bio-sensors, high definition (HD) cameras, and edge-AI processing with Wi-Fi and Bluetooth connectivity, offering real-time form feedback, health monitoring, and telemedicine integrations as well.
E-mobility financing platform ProsParity has raised $2 million (Rs 16.6 crore) in a pre-seed funding round from a host of investors including Beenext, Sparrow Capital, All In Capital, DeVC and Huddle Ventures.
The round also saw participation from angel investors like Ashish Gupta (co-founder of Junglee and Helion Ventures), Raj Dugar (formerly with Eight Roads Ventures), Dhyanesh Shah (co-founder of Mosaic Wellness), Abhishek Goyal (co-founder of Tracxn) and Nitin Kaushal (co-founder of Country Delight).
The funds raised will be used for building proof of concept, technology and expanding origination networks, starting with central India.
The company aims to achieve assets under management (AUM) of Rs 100 crore within the next two years, according to its statement.
Founded by Saurabh Khodke and Anirudh Dhakar, ProsParity is an e-mobility financing platform, with a target market focused on two-wheeler and three-wheeler segments.
The startup is building a comprehensive partnership network across original equipment manufacturers, fleet operators, dealerships, and lenders.
Freshleaf has raised $120,135 (Rs 1 crore) in a seed funding round from early-stage investor Inflection Point Ventures.
The funds raised will be utilized to expand marketing efforts, increase production capacity, and improve research and development for new products.
Founded in 2022 by Balkirat Singh and Muneet Arora, Freshleaf is a homegrown tea brand that offers a mix of traditional and sparkling teas, at an affordable price. The brand has swiftly built an offline presence and is present in 550 stores across 40 cities in India.
The brand is also expanding to modern retail and quick commerce while extending its reach into the UAE market.