Funding Pulse: Key Startup Deals This Week, Nov 02–08 The first week of November has seen significant investments across various sectors, from home financing to fitness, spacetech, and electric mobility. Here's a roundup of the key startup funding news from November 02–08.
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1. Easy Home Finance
- Funding Amount: USD 35 Million
- Investors: Ranjan Pai's family office, Claypond Capital, Sumitomo Mitsui Banking Corporation's Asia Rising Fund, Xponentia Capital, Finsight Ventures, Harbourfront Capital, Pegasus India Evolving Opportunities Fund
- Overview: Founded in 2017, Easy Home Finance focuses on home loan disbursement, catering primarily to homebuyers in government housing schemes. This Mumbai-based platform sources a significant portion of its applications digitally and through government partnerships, alongside traditional channels like brokers.
2. Boldfit
- Funding Amount: USD 13 Million
- Investors: Bessemer Venture Partners
- Overview: Boldfit, a direct-to-consumer fitness startup founded by Pallav Bihani in 2018, has carved out a niche in fitness and sports gear. The Bengaluru-based company offers products including apparel, equipment, supplements, and accessories for sports like basketball and cycling.
3. GalaxEye
- Funding Amount: USD 10 Million
- Investors: MountTech Growth Fund - Kavachh, Mela Ventures, Speciale Invest, ideaForge, Samarthya Investment Advisors, Infosys
- Overview: Founded in 2020, Bengaluru-based GalaxEye is a spacetech startup specialising in satellite imaging technology. Co-founders Suyash Singh, Denil Chawda, Kishan Thakkar, Pranit Mehta, and Rakshit Bhatt have developed a unique multi-sensor imaging solution combining Optical Multi-Spectral Imaging (MSI) and Synthetic Aperture Radar (SAR) for continuous, all-weather data collection.
4. CynLr (Cybernetics Laboratory)
- Funding Amount: USD 10 Million
- Investors: Pavestone, Athera Venture Partners (formerly Inventus India), Speciale Invest, InfoEdge's Redstart
- Overview: Founded by Gokul NA and Nikhil Ramaswamy in 2019, CynLr is a Bengaluru-based deeptech startup focused on transforming automation. Their Visual Robot Platform equips machines with human-like visual intelligence, enabling robots to grasp and manipulate objects in complex environments.
5. Marut Drones
- Funding Amount: USD 6.2 Million
- Investors: Lok Capital
- Overview: Hyderabad-based Marut Drones, founded by Prem Kumar Vislawath, Suraj Peddi, and Sai Kumar Chinthala in 2019, is a pioneer in drone technology with applications in agriculture and disaster management. Their DGCA-certified agricultural drone, the AG365H, assists with tasks like fish feeding, fertiliser broadcasting, and pesticide spraying, supporting the agricultural community.
6. Hala Mobility
- Funding Amount: USD 6 Million
- Investors: Srikanth Reddy, Snehith Reddy, Previa Health Founder Phani Ramineni, Rohan Bajaj syndicate via Invstt, Sarthy Angels, Bestvantage, and a network of HNIs and family offices
- Overview: Founded in 2020, Hyderabad-based Hala Mobility offers a comprehensive EV-as-a-Service platform designed for e-commerce and gig economy drivers. Founded by Srikanth Reddy, Snehith Reddy Meda, and Anand Pareek, Hala Mobility's platform includes software for EV management and maintenance, ensuring high uptime.
7. The Hosteller
- Funding Amount: USD 5.7 Million
- Investors: V3 Ventures, Synergy Capital Partners, Unit e Consulting LLP, Real Time Angel Fund (Climber Capital), Ice VC, AL Trust (Thrive Ventures), and angel investors including Harsh Shah, Akash Hiren Zaveri, and Vedang Patel
- Overview: Founded in 2014, The Hosteller is a budget hostel chain that caters to Gen Z and millennial travelers. With more than 50 properties across India, The Hosteller provides affordable and experiential stays.
These startups reflect India's vibrant entrepreneurial ecosystem, leveraging innovation across finance, fitness, spacetech, robotics, drone technology, electric mobility, and hospitality. The funding raised this week underscores investor confidence in India's startups, with significant capital flowing into high-potential sectors and promising entrepreneurs leading the way.
