Local Round-up: Indian Startups, Fundings, Growth during 1st to 8th March'24

The first week of March'24 observed some new and important investments, startups, Funding, Expansion and Growth in the Indian Market stay tuned for Local Round-up us!

India is a market for homegrown businesses and startups. For this week's news round-up, we look for some major business development fundings, homegrown business establishments, investments, mergers etc. So keep scrolling for a news round-up by Local Samosa.

1. MyCaptain, an ed-tech startup, secures INR 14 Crore funding 

Inflection Point Ventures has announced an investment in education technology startup MyCaptain which aims to enable everyone to pursue a career they love. Some other investors in this round are MyNavi, Piper Serica, Super Capital and Ankur Capital. Securing funds for strategic growth, MyCaptain plans to expand its hybrid programs into diverse cities, establishing 4+ regional sales centres. Additionally, they aim to enrich their course offerings, introducing new programs to reach a portfolio milestone of 50+ beginner courses and 5+ placement readiness programs. These initiatives align with MyCaptain’s commitment to providing quality education and enhancing accessibility across regions. 

2. EXLY acquired INR 51 Cr in the funding round-up 

Exly, launched in 2018, secures ₹51 crore in funding. Chiratae Ventures, along with participation from Mayfield India and Venture Highway, invested in Exly. Serving as a comprehensive business platform tailored for professionals, coaches, trainers, and course creators, Exly offers the tools needed to launch, promote, and manage their programs. Whether it's courses, online sessions, consultations, or workshops, Exly provides an interface for individuals to effectively expand and enhance their offerings in the digital environment.

3. Laddubox, an Indian Startup builds 2 Cr by investing 1 lakh

Laddubox, a homegrown startup business founded in 2020, is the brainchild of a couple in Hyderabad, Sandeep and Kavitha, both accomplished engineers who relocated to India. With an initial investment of 1 lakh, they have grown their business into a 2 crore turnover brand. Laddubox, a health-conscious sweets brand, distinguishes itself by avoiding the use of sugar and preservatives in its product range.

4. Homegrown business accelerates mushroom plantation through DIY kits and earns 50 Lakhs/year

Nuvedo is a homegrown venture by a couple from Bengaluru, offering DIY mushroom kits for home cultivation. The brand, known from its appearance on Shark Tank, earns 50 lakhs per year by selling chemical-free mushrooms for home cultivation. They provide user-friendly kits specifically curated for mushroom enthusiasts, making it easy to cultivate mushrooms at home.

5. A homemaker from Madhya Pradesh earns 2.5 Lakh/month after creating a pickle buzz by investing 4K

Inspired by Shark Tank, a woman from Madhya Pradesh, Saroj Prajapati, started a pickle business by investing 4000 rupees. With the help of her son, Saroj promptly established a social media handle for 'Mom's Magic Pickle' and successfully launched a business that is now well-established, earning 2.5 lakhs per month.

6. Siblings from Gujarat made 1.2Cr last month by selling footwear

Supporting sustainability and eco-friendly products, siblings Parth and Karishma Dalal from Gujarat have revolutionized traditional footwear into biodegradable alternatives. Their company, Reroute Shoes, was established in May 2023. They use carbon-negative materials, such as sugarcane residue and recycled plastic water bottles, to craft eco-friendly shoes. Last month, their business generated a revenue of 1.2 crore.

7. A woman from Tamil Nadu builds a 3Cr millet food business 

Deepa Muthukumarasamy's enterprise, Some More Foods, specializes in millet-based food products such as vermicelli, noodles, and pasta. It offers distribution nationwide and curates local organic millet-based health mixes to meet the demand for consistently purchasing 5 to 8 kg of the health mix per month at a premium price. As word spread, the business expanded nationwide and now generates an annual revenue of 3 crore

8. Indian Logistics Startup acquires funding of $100 million from TPG & Flipkart

Shadowfax, an Indian logistics startup, raised $100 million in Series E funding led by TPG NewQuest. Other existing investors, including Mirae Asset and Flipkart, also participated. Flipkart previously funded Shadowfax with a $60 million Series D round back in 2019.

9. Luggage brand Mokobara raises $12 million in Series B funding round

Mokobara, a Bengaluru-based DTC brand, raised $12 million, including a $3.6 million round in October 2023, marking its first funding this year in a Series B funding round. The deal was led by Peak XV Partners (formerly Sequoia Capital India), with existing partners including Sauce VC and Saama Capital.

10. DTC Jewellery brand Kaushal's secures $34 million funding

The jewellery brand Kaushal's continues to shine as it secured funding of $34 million in this week's Series roundup. The deal was led by Lighthouse India's fourth private equity fund, with existing partial investments from India SME Investments and Motilal Oswal. This deal bolsters many upcoming startups and underscores the potential of the D2C jewelry market in India.