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Funding in Focus: Major Startup Deals to Watch This Week (Sept 27–Oct 4) This week, the startup ecosystem witnessed a flurry of funding activities, with several innovative companies securing significant capital to fuel their growth. Here's a closer look at the standout funding rounds that demonstrate the dynamism and potential across diverse sectors.

By Minakshi Sangwan

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[L-R-T-B] Founders of BASIC Home Loan, Mstack, WayCool, Str8bat, & Furnishka

Mstack: Transforming Specialty Chemicals

Founded in 2022 by Shreyans Chopra, Mstack is a Houston and Bengaluru-based startup that is revolutionising the specialty chemicals sector. With a tech-enabled custom manufacturing platform, Mstack connects mid-to-large enterprise buyers, primarily in North America, to cost-effective production hubs in countries like India, South Korea, Saudi Arabia, Thailand, and Vietnam. Their integrated platform offers a seamless experience for sourcing, testing, and delivering specialty chemicals across various categories, including oil and gas, coatings, and water treatment.

  • Funding Amount: USD 40 Million
  • Investors: Lightspeed Venture Partners, Alpha Wave Global, HSBC Innovation Banking

WayCool: Pioneering Agricultural Supply Chains

WayCool, co-founded in 2019 by Karthik Jayaraman and Sanjay Dasari, is a Chennai-based agricultural supply chain firm focused on sourcing fresh produce, including dairy, directly from farmers and supplying it to retailers and restaurants. In addition to managing private label brands, WayCool plays a crucial role in distributing for FMCG companies, enhancing the efficiency and transparency of the agricultural ecosystem.

BASIC Home Loan: Simplifying Mortgages

Gurugram-based fintech startup BASIC Home Loan, established in 2020 by Atul Monga and Kalyan Josyula, aims to simplify the home loan process, especially for borrowers in India's underserved Tier II and Tier III cities. Their tech-driven mortgage marketplace leverages innovation to make home loans more accessible and straightforward for potential homeowners.

  • Funding Amount: USD 10.6 Million
  • Investors: Bertelsmann India Investments (BII), CE-Ventures, Ashish Kacholia, Gruhas, Let's Venture, 9Unicorns, Venture Catalysts

Str8bat: Innovating Sports Technology

Founded in 2017 by Gagan Daga, Rahul Nagar, and Madhusudan R, Bengaluru-based str8bat is at the forefront of sports technology, specialising in sensor-based wearables for cricket players. Their flagship product—a cricket bat wearable device—utilises real-time data analytics to track and improve player performance. By analysing a player's stance, shot type, and movements using advanced AI technology, str8bat provides actionable insights to elevate the game.

  • Funding Amount: USD 3.5 Million
  • Investors: Exfinity Venture Partners, TRTL, Eternal Capital, VCats Group, Techstars, SucSEED Indovation Fund

Furnishka: Affordable Luxury Furniture

Launched in 2023 by Ganesh Pawar, Bengaluru-based Furnishka is making waves in the furniture retail sector. By optimising supply chain management and standardising components, Furnishka offers premium furniture at affordable prices, showcasing designs tailored to meet the needs of Indian households. The company's focus on reducing operational costs is paving the way for accessible yet stylish home furnishings.

  • Funding Amount: USD 3.2 Million
  • Investors: IndiaQuotient, Sparrow Capital, Sujeet Kumar (Co-founder at Udaan), Ramakant Sharma (Co-founder at Livspace)

Conclusion

The startup funding landscape this week reflects a vibrant mix of sectors, from specialty chemicals and agricultural supply chains to fintech, sports technology, and furniture retail. These funding rounds not only showcase the innovation driving these startups but also highlight the increasing investor confidence in their potential for growth. As these companies continue to scale and innovate, they are set to make significant impacts in their respective industries. Keep an eye on these key players as they shape the future of their sectors!

Minakshi Sangwan

Junior Writer

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