EtherealX, Punch, and Hyperbots Raise Capital In Separate Seed Funding Rounds Early August seems to have given a great start for startup founders as new-age tech solutions in India secure seed-stage funding in separate rounds from top investors.
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Early August seems to have given a great start for startup founders as new-age tech solutions in India secure seed-stage funding in separate rounds from top investors.
YourNest leads USD 5 Million Round for EtherealX
EtherealX, one of the prominent spacetech startups in India has raised USD 5 Million in a seed funding round led by YourNest and investors such as BIG Global Investments JSC, BlueHill Capital, Campus Fund, and Golden Sparrow Ventures, Karan Bhagat & Yatin Shah from IIFL Wealth, Kiran Shetty, and Akhilesh Agarwal.
The space-focused startup plans to use this fund to develop engines for its fully reusable medium-lift launch vehicle. Back in June, YourNest Venture Capital announced its first investment into this vertical with a USD 1.5 Million funding in EtherealX.
EtherealX aims to develop a new fully reusable medium-lift vehicle, offering absolute reusability to help reduce transportation costs and cut launch timeframes.
Commenting on the funding, Manu J. Nair, CEO, of EtherealX, said, "The funds from this round will be utilized towards the completion of our test facility, final tests and qualification of the 40kN engine for the upper stage, and for the manufacturing of the 925kN semi-cryogenic engine."
Ranjeet Shetye, Venture Partner at YourNest said, "In our continued commitment to India's DeepTech startup ecosystem, we are unanimous that EtherealX represents the focussed convergence of all the values that we seek in daring founders who challenge the status quo."
Punch bags USD 7 Million
Punch, by stockbroker Market Pulse Securities, has raised USD 7 Million in funding from Stellaris Venture Partners, Susquehanna Asia VC, Prime Venture Partners, Innoven Capital, and angels like Kunal Shah of Cred, Vatsal Singhal of Ultrahuman, and Nitish Mittersain of Nazara.
"Our focus is on making responsible trading intuitive and part of the user experience," said Amit Dhakad, CEO and Co-founder at Punch. "We want to help beginners who are engaging with the market, to do it confidently and cautiously."
Punch is led by founders Amit Dhakad, Hiral Jain, Arshad Fahoum, and Ajit Dandekar. Originally, the trio formed the founding team of Market Pulse, a charting app. Since 2022, the team has been testing Punch, with a fresh perspective on safety in trading.
Hyberbots Secures Funding to Revolutionise AI in Finance
Hyperbots, an AI Company for finance and accounting has secured USD 2 Million in a seed funding round led by Kalaari Capital with participation from Sunicon Ventures, and Athera Venture Partners.
Niyati Chhaya, Co-founder, of Hyperbots, said, "With the support of our partners like Kalaari, Sunicon, and Athera, we are poised to revolutionize the finance operations for US mid-markets."
The company intends to use the funds in expansion of its go-to-market strategy and product development including the development of proprietary generative AI models for Finance and Accounting.
Sampath, Partner at Kalaari Capital commented, " With proprietary foundational IP and a clear focus on building a vertical finance model, Hyperbots is set to transform the landscape of finance and accounting."
Saloni Jain from Sunicon Ventures said that they are thrilled to invest in Hyperbots. "Building their product from the ground up with CFOs demonstrates a deep commitment to practical, user-focused innovation."
Rutvik Doshi from Athera Venture Partners said, "It is a pleasure to invest a second time in a venture led by Rajeev. We believe strongly in this team, and its ability to execute the hypothesis of transforming the CFO office through modern AI innovations."
