Raana Semiconductors Secures $3M Seed Funding to Build Indigenous Silicon Ingot Systems

Raana Semiconductors Pvt Ltd, a Tamil Nadu-based deep-tech startup, has raised $3 million in a seed funding round led by Equirus Innovatex Fund and Artha Venture Fund, with participation from IvyCap Ventures, PointOne Capital, CIIE Initiatives (IIMA Ventures), and angel investor Garimella Laxminarayana. The funds will accelerate R&D and product development of indigenous silicon ingot growth systems.

Key Highlights of the Funding Round

• Amount Raised: $3 million (Seed round, pure equity)
• Lead Investors: Equirus Innovatex Fund, Artha Venture Fund
• Other Participants: IvyCap Ventures, PointOne Capital, CIIE Initiatives (IIMA Ventures), Garimella Laxminarayana (angel investor)
• Advisory Partner: Prequate Advisory served as the sole strategic advisor

Company Profile

• Name: Raana Semiconductors Pvt Ltd (RSPL)
• Location: Tamil Nadu, India
• Sector: Deep-tech, semiconductor manufacturing equipment
• Specialization: Czochralski (CZ)-based crystal growth systems and single-crystal materials
• Experience: Over a decade in semiconductor technology

Strategic Use of Funds

• Product Development: Building indigenous Czochralski monocrystalline silicon ingot growers capable of producing 10–12 inch diameter silicon ingots.
• Applications: Defence, semiconductor, solar, and medical technologies.
• Roadmap:
  • Short-term: Solar-grade silicon ingots.
  • Long-term: Semiconductor-grade wafers for chip manufacturing.

Why This Matters

• Reducing Import Dependence: India relies heavily on overseas suppliers for silicon ingot growth systems. RSPL aims to localize this critical technology.
• Boost to Semiconductor Ecosystem: Aligns with India’s national semiconductor mission to strengthen domestic manufacturing capacity.
• Cross-Sector Impact: Vital for renewable energy (solar panels), electronics, defence systems, and medical devices.

Quick Comparison: RSPL vs. Global Context

Aspect	RSPL (India)	Typical Global Players
Funding Stage	Seed ($3M)	Series A–C, often $50M+
Focus	Indigenous CZ ingot growers	Advanced wafer fabs, lithography
Market Gap	Local equipment manufacturing	Mature ecosystems in US, Taiwan, Korea
Strategic Value	Reduces import reliance	Expands global dominance

Mumbai-based Atmosphere - The Store Makers Raises ₹5 Crore in Seed Round Co-led by Artha Venture Fund and PIL Italica Lifestyle

• Round co-led by Artha Venture Fund and PIL Italica Lifestyle Limited to accelerate growth and innovation in the luxury retail sector.
• Funds raised will enhance the company’s manufacturing capabilities, design capabilities, business automation and marketing reach.
• Atmosphere will establish a prototyping lab, working with hospitality and retail businesses to enhance brand perception and customer experience across all touch points.

Atmosphere–The Store Makers, a Mumbai-based innovator in bespoke retail and workspace fit-outs, has raised ₹5 crore in a seed funding round co-led by Artha Venture Fund and PIL Italica Lifestyle Limited. This fresh infusion of capital positions Atmosphere to capitalize on India’s premiumization wave, delivering cutting-edge, customizable solutions for luxury retail and workspace transformations.

With the funding, Atmosphere will expand its offerings in the premium retail, hospitality, and workplace ‘Design & Build’ segments, led by its innovative design solutions researched in its own factories. Offering unique solutions like “Store in Box” and offsite manufacturing, Atmosphere will cater to the rapid growth in retail penetration across India.

Anirudh A Damani, Managing Partner at Artha Venture Fund, said, “The premiumization of retail in India is driven by the rise of the affluent Indian consumer, whose tastes demand exceptional experiences and environments. This shift creates significant opportunities for companies like Atmosphere to address the evolving needs of luxury retail and workspace fit-outs. Backed by the founders’ deep industry expertise, robust manufacturing capabilities, and a strong order book from prestigious clients and given that India is expected to add 5 lakh stores annually from 2022-2026, Atmosphere is strategically positioned to lead the transformation of the retail and office furniture sector. This funding marks a step forward in enabling the next growth phase in India’s evolving premiumization story.”

Atmosphere Project

Reise Moto Project

With a track record of over 500,000 sq ft of premium retail work delivered, Atmosphere stands at the forefront of India’s growing demand for bespoke, high-quality retail environments. The rise of affluent Indian consumers has made premiumization a cornerstone of modern retail, and Atmosphere is well-equipped to lead this transformation. From its state-of-the-art 60,000 sq ft manufacturing facility to its in-house design capabilities, Atmosphere delivers end-to-end solutions that reflect precision, innovation, and the ethos of each brand they serve. With a current portfolio of high-end projects, Atmosphere is committed to setting new benchmarks in the premium retail and workspace fit-out industry.

Nilesh Rathod, CEO & Co-Founder at Atmosphere–The Store Makers said, “Atmosphere - The Store Makers offers retailers a transformative, end-to-end platform from design to deployment. We provide innovative design, seamless project management, and efficient construction, all backed by scalable furniture and fixture solutions. With top talent, advanced technology, and supply chain mastery, Atmosphere ensures faster, smarter, and more cost-effective retail expansions. This is more than a service—it’s a business advantage.”

Atmosphere has delivered spaces for leading brands, including Aisshpra Gems and Jewels, Aza, Emporio Armani, Kalki Fashions, Akoirah, Kuuraku, Kamat Hotels, Libas, Michael Kors, and Tumi, among others.

Looking ahead, Atmosphere aims to establish itself as a one-stop solution provider for premium retail and workspace transformations. By leveraging global partnerships and expanding its clientele to luxury brands with high repeat potential, Atmosphere plans to solidify its leadership in the market. The company is also launching a design lab to develop intricate design capabilities and streamline production, meeting the needs of clients who demand precision and innovation.

About Atmosphere–The Store Makers:

Atmosphere is redefining premium retail and workspace transformations in India. With a steadfast commitment to innovation, sustainability, and design excellence, Atmosphere delivers bespoke solutions that align with the evolving demands of affluent consumers and luxury brands. Our mission is to elevate spaces into brand-aligned experiences that reflect precision, craftsmanship, and a forward-thinking approach.

For more information, please visit https://atmosphere.work

About Artha Venture Fund:

Artha Venture Fund (AVF) is India's first early-stage microVC firm, with a corpus of ₹225 crores. It primarily focuses on B2B SaaS, D2C, and D2C enablers. AVF has made 34 investments, including noteworthy startups like AgniKul, LenDenClub, Everest Fleet, Daalchini, Lemnisk and Elev8 India Sportz.

KarmaLife Raises ₹44 Cr in Pre-Series A-extension from Krishna Bhupal’s family office, Artha Venture Fund and others

• Valuation jumps 5x
• KarmaLife is a credit solutions provider for gig workers
• Funds raised to be used for scaling and expanding into new geographies and launching more products

KarmaLife, an earnings-linked financial solutions provider for the gig and blue-collared workforce and already the largest Early Wage Access (EWA) platform in India, has raised ₹44 crores in an extension to its Pre-Series funding round led by Krishna Bhupal’s family office and existing investor, Artha Venture Fund, amongst others.

The financing round saw participation from other existing investors, including Net Graph Investments, Singularity Ventures, LogX Venture Partners, Balesh Sharma, Amit Jain, Vikram Kailas, and Shaji Kumar Devakar.
Founded by Rohit Rathi, Naveen Budda, and Badal Malick in March 2020 with a combined 25+ years of business experience, KarmaLife operates in a business-to-business-to-consumer (B2B2C) model and has partnered with 50+ organizations, which includes Flipkart, Elastic run, Uber, Porter, Delhivery, and others, to give their employees an option to access their pay-out before payday.

Rohit Rathi

Rohit Rathi, Co-Founder & CEO – KarmaLife, says, “The Company plans to use the fresh capital for scaling, expanding into different geographies, launching more products, and spreading awareness about the product. We welcome this funding round, which reaffirms our investors’ alignment with KarmaLife’s mission. Together, we aim to drive financial inclusion and offer alternatives to predatory lending. Our unwavering goal is to transform the financial lives of millions of blue-collar workers.” 
The Company has impacted the lives of 2.70 lakh workers to date. It offers personalized, subscription-based credit products, such as Earned Wage Access and dynamic Line-of-Credit, based on a proprietary real-time credit scoring system called ‘KarmaScore.’ KarmaLife currently serves over 1,00,000+ blue-collar workers through its platform, continually striving to expand its reach and impact.
“We invest in people and entrepreneurs who have the vision, purpose, and team, who have the ability to create great teams and execute. This is the secret sauce to creating any great company. Our portfolio spans geographies (Silicon Valley, Singapore, India, etc.) and mission-critical businesses such as fintech, quant investing, wealth management, and healthcare. KarmaLife is creating a long-term business that is underserved not only in India but in markets globally. We share the business' growth plans as a portfolio investment, and more importantly, the impact of the business connects a few hundred million Blue collar and gig entrepreneurs into a network-based approach to transparently access credit which is sustainable and affordable,” says Krishna Bhupal, Chairman of his family office.
Earned Wage Access (‘EWA’) gives individuals access to a portion of their earned but unpaid salary any time before their payday. Freeing up employees and employers from the traditional pay cycle, EWA helps disrupt predatory lending models and incentivizes employees to stay longer with an organization. Within six months of partnering with KarmaLife, companies are seeing a 37% increase in retention, enabling them to drive more productivity.

Anirudh A Damani

Anirudh A Damani, Managing Partner – Artha Venture Fund, says, “We're thrilled to extend our support for KarmaLife. Their success is a testament to our conviction that lending and lending infrastructure are fundamental to India's economic future. The KarmaLife team’s commitment to empowering the blue-collar and gig workforce resonates deeply with our vision of fostering an inclusive financial landscape. To say we're eager to fuel their ongoing growth and impact would be an

The World Bank’s Consultative Group to Assist the Poor (‘CGAP’) had partnered with KarmaLife to publish research on financial inclusion for gig workers and run pilots to refine KarmaScore for larger ticket/longer tenure loan products in 2022. The Company was also recently recognized as the winner under ‘The Financial Inclusion’ Category at NASSCOM India Fintech Awards 2023; it was one of the 90 leading FinTechs evaluated by NASSCOM for the award.

Artha Venture Fund (AVF) is India's first early-stage microVC firm with a corpus of ₹225 crores. Since its inception in late 2018, AVF has primarily funded and supported startups that operate as enablers and entities focused on solving the challenges of Indian consumers and businesses. The current fund allocates thematic investment for B2B, B2C/D2C, and D2C enablers.

Led by Anirudh A Damani, a 2nd-generation investor, the firm has a network of limited partners, co-investors, founders, and family offices that traverse the globe. AVF's portfolio includes AgniKul, LenDenClub, Everest Fleet, Daalchini, Elev8 India Sportz, and more.
For more information, please visit-Artha Venture Fund
About Artha Group:
Artha Group, the umbrella entity of AVF, has investments in 100+ startups across India, the US, Israel, Africa, and the UK. OYO, Purplle, LeverageEdu, Tala, IconBuild, Rapido, Coutloot, Chai Break, Karza Technologies, and Mobilewalla are some leading startups in its global portfolio. Artha Group recently announced the launch of its ₹450-crore winners-only microVC fund – Artha Select Fund ('ASF').

Artha Group Launches Winners-only microVC Fund – Artha Select Fund; ₹100+ Cr Raised from Current LPs in 3 Weeks

• ₹450 crores fund size (₹330 crores + ₹120 crores greenshoe)
• Will invest in growth rounds of Artha Venture Fund and Artha India Ventures portfolio startups
• The average investment size would be ₹20 crores per investment in Series B and ₹20 crores follow-on in Series C
• The first term sheet is signed
• The Fund will announce the first close shortly
• Mumbai-based Artha Group announced the launch of its ₹450 crores winners-only microVC fund – Artha Select Fund (’ASF’).

The Pune-based Kirloskar Family Office, the family office of former Reliance Capital CIS Madhusudan Kela, Abhinav Sinha (MD – British International Investment), Narendra Karnavat of CA firm Karnavat and Co., Jashvant Raval of JCR & Co, Mumbai-based listed firm SAT Industries, Varun Bansal of Jayashree Polymers, Rajiv Lakhotia of Shree Karni Fabcom, and several other investors have (so far) backed this opportunities fund. Abhinav Sinha will also be joining the investment committee at ASF; he was already an IC member at AVF.

ASF will back category-winning startups from Artha’s portfolio in their follow-on rounds. The Fund will commit up to ₹20 crores in the Series B round and an additional ₹20 crores in the Series C round in startups where Artha is already an investor. ASF will back 12-14 startups through this vehicle.

ASF raised its first ₹100 crores in less than 3 weeks, as current LPs enthusiastically chose to double down on the winners of Artha Venture Fund (‘AVF’) – India’s first early-stage microVC Fund. The established winners of AVF include LenDenClub, Agnikul, Everest Fleet, HobSpace, InstaAstro, KarmaLife, etc.

Artha announced the final close of AVF in June 2021 at over ₹225 crores, exceeding its target corpus of ₹200 crores. The Fund has made 27 investments so far, with a combined valuation of ₹3,600+ crores. AVF has provided spectacular portfolio returns to investors with a 3.61x MoIC (Multiple on Invested Capital) and 120%+ IRR as the earliest investor in these startups.

AVF’s portfolio startup Daalchini raised its Series A round led by Unicorn India Ventures. AVF had led Daalchini’s seed and Pre-Series A rounds. Besides, AVF recently announced its investment into circular-economy startup Nirmalaya.

Bhavin Patel, CEO, and Founder of LenDenClub, India’s largest P2P-lending platform, said, “Artha has been a true partner for LenDenClub, investing in us when we were disbursing just 8-10 loans per month. In those early days, with their support and understanding of working with other startups, Dipesh and I could establish solid KPIs for the business and ensure that our business decisions were based on data.”

In December 2021, LenDenClub raised a $10m Series A from Ohm Enterprises (Amal Parikh’s family office), Tuscan Ventures, Som Ventures LLP, QED Innovation Labs, Angel List, ace Indian cricket Hardik Pandya, and Shajikumar Devakar (IIFL Wealth).

“Artha led our seed round and doubled down on that investment in the Pre-Series A. In addition, their $1.8m investment in the Series A round increased the investor’s confidence, aiding us in closing the round quickly,” Patel added.

LenDenClub has grown 20x since it closed its Series A round, disbursing more than ₹1000 crores through its platform in August 2022 – the first Indian P2P platform to achieve that milestone.

Artha will announce its first close along with its first investment shortly.

Chris Kolenaty, Head of Private Investments at the Kirloskar Family Office, says, “Over the last decade, the Kirloskar family has built an understanding of assessing private companies, opportunities, and entrepreneurs through venture investing. I met Anirudh 8 years ago in Dublin and stayed in touch with him as he grew the Artha portfolio. We became increasingly comfortable with Anirudh during AVF’s second close and decided to hit go this time. We see him becoming one of India’s top private investors and are excited to collaborate with him!”

Anirudh A. Damani – Managing Partner, Artha Select Fund, says, “We are ecstatic with the fantastic response to our winner’s Fund. We see early-growth rounds as an amazing investment opportunity to back founders at a critical inflection point in their venture journey. With ASF, we provide our founders with the added firepower to chase sound business metrics like revenues, positive unit economics, and profitability!”

About Artha Select Fund

Artha Select Fund (ASF) is a growth stage microVC fund with a target size of ₹450 crores launched by the Artha Group of Companies. ASF is a unique winners-only strategy that will invest in the top-performing startups from the Group’s portfolio of 100+ direct startup investments focussing on Series B & C rounds. 

Led by Anirudh A Damani, a second-generation investor, the firm has a network of limited partners, co-investors, founders, and family offices that traverse the globe.
Artha Group, the umbrella entity of ASF, has investments in 100+ startups across India, the US, Israel, Africa, and the UK. OYO, Purplle, LeveragEdu, Tala, IconBuild, Rapido, Coutloot, Chai Break, Karza Technologies, and Mobilewalla are some leading startups in its global portfolio.

Gig Workers' Financial Platform KarmaLife Raises $2.2 Mn in Pre-Series A Funding, Led by Artha Venture Fund

Uses alternative data to facilitate credit to ‘new to credit’ gig workers

Eyes 10-fold growth in the next 12 months – boost product development, enhance the market footprint and team expansion

KarmaLife, India’s 1st real-time credit solutions provider for gig workers, raised $2.2 million in pre-series A round, led by Artha Venture Fund (AVF). Netgraph Investment, LV Angel Fund, Singularity Ventures, and Angel investors including Abhinav Sinha (CDC Group PLC), Amit Jain (CEO -Global Equity London), Balesh Sharma (MD -Vodacom South Africa, Ex-CEO Vodafone Idea), Vamsi Udayagiri (Founder Hesa), Vikram Kailas (MD & CEO Mytrah Energy) and Prateek Agarwal (ex-CBO BharatPe), also participated in the round. The Fintech platform will utilize the funds for further product development, team expansion, and employer partnerships. This is AVF’s 16th investment from its $33 million micro-VC fund.

Founded by Rohit Rathi, Naveen Budda and Badal Malick, KarmaLife has access to 130k+ users and is eyeing a 10-fold user growth in the next 12 months. Moreover, the company has been witnessing a 40% MoM growth in credit disbursement since July 2021 and will surpass ₹500 crores in disbursals by the next fiscal. KarmaLife plans to scale its business by partnering with 150+ new employers and will be launching various innovative financial products such as liquid savings and micro-insurance customized for this segment.

Taking cue from an unmet demand of relevant credit product at an affordable price for the 15 million data-rich but skill-poor workforce, the B2B2C startup solves their liquidity problem and offers financial products linked to their earnings & transaction history as well as mobile usage behavior. Personalized, subscription-based credit products, such as Earned Wage Access and dynamic Line-of-Credit, are offered based on proprietary real-time credit scoring system called ‘KarmaScore.’ KarmaLife caters to the Gig & Contract workers associated with some of the biggest brands such as Flipkart, Delhivery, Zomato and Uber, among others.

 

Rohit_Rathi co-founder of KarmaLife

Rohit Rathi, Co-founder, KarmaLife, said, “We were surprised at the sheer lack of appropriate and sustainable credit solutions for low-income working populations. We are on a mission to solve this using technology, and have built a KarmaScore framework using alternative data, and a very scalable deployment model for employers and gig-platforms. We are creating a winning eco-system that brings together Financial Institutions, Employers, and Gig workers, to drive a new and transformative business model. We are already seeing ~85% repeat rates with our product along with significant levels of retention boost in an otherwise very high churn segment. This recent round of funding will help us to accelerate our vision of Financial Inclusion for Blue Collars in India.”

Anirudh A Damani, Managing Partner, Artha Venture Fund, said, “In a time where the gig economy is expected to contribute significantly to India’s GDP, KarmaLife is set to empower the segment’s workforce. KarmaLife’s credit solutions will introduce a sense of financial stability in an otherwise fragmented industry, which is bound to boost productivity. Moreover, the real-time credit access experience for the end-user also helps them overcome the enormous challenge of financial literacy.

We are super impressed by the team at KarmaLife and love they have been capturing the top 3 companies in the most labour-intensive sectors! Rohit has a solid track record as a serial entrepreneur, and we are confident that KarmaLife will cement its position as a category leader.”

How KarmaLife Works

KarmaLife serves Gig workers with subscription-based finance built on Digital Karma. It offers them digitally integrated real-time credit to better manage their day-to-day cash flows and become more financially resilient. They partner with employers/platforms to provide Earned Wage Access and dynamic Line of Credit solutions to their workers based on their work history and other digital data.

By partnering with KarmaLife, employers can provide inclusive, impactful, and easy-to-administer worker benefits that boost productivity and retention without any financial liability. Existing partners have seen up to 30% improvements in worker productivity and reduced churn after using the solution. Today KarmaLife works with major digital gig platforms across segments like ride-sharing, food-tech, e-commerce, logistics, flexi-staffing and others.

About Artha Venture Fund

Artha Venture Fund (AVF) is India's first early-stage micro-VC firm with a corpus of $33 million. Since its inception in late 2018, AVF has primarily funded and supported multiple startups that operate as enablers and entities focused on solving the challenges of Indian consumers and businesses. The current fund allocates thematic investment for B2B, B2C/D2C, and D2C enablers.

Led by Anirudh A Damani, a second-generation investor, the firm has a network of limited partners, co-investors, founders, and family offices that traverse the globe. AVF's portfolio includes Agnikul, LenDenClub, HobSpace, PiggyRide, Daalchini, Kabbadi Adda, and more.

Artha Group, the umbrella entity of AVF, has investments in 90+ startups across India, the US, Israel, and Africa like OYO Rooms, Purplle, IconBuild, Tala, LeveragEdu, Coutloot, Karza Technologies, Mobilewalla, Interstellar and more.

For more information, please visit www.artha.vc

New-Age Wellness & Spiritual Services Platform InstaAstro Raises ₹3.2 Cr in a Seed Round, Led by Artha Venture Fund

InstaAstro connects 500+ qualified Astrologers, Tarot card readers, numerologists, and Vastu experts to 60k users

Monthly Recurring Revenues (MRR) and user growth have grown by 20x and ~25x, respectively, since February 2021

InstaAstro, a new-age wellness and spiritual services platform that combines the ancient Indian knowledge of Astrology, Yoga, Ayurveda and Meditation, raised ₹3 crores in a seed round led by Artha Venture Fund (AVF), India's first early-stage micro-VC fund.

InstaAstro offers online predictions and consultancy; and caters to the real-life issues faced by millennials - including career, marriage & relationships, health, finances, and personal growth, amongst other aspects. Through the said services, the start-up aims to offer people peace of mind and assist them during their phase of stress. The round also saw participation from Ramakant Sharma's LogX Ventures. The Noida-based startup will utilize the funds for product development, marketing and add a gamut of services like Live Astrologer session, Remedies, E-Pooja and Ecommerce etc., to its platform - helping them carve a niche in the holistic wellness segment. This is AVF's 12th investment from its recently closed ₹225 crores micro-VC fund.

Astrology and other spiritual services have been an integral part of Indian traditions and culture. According to reports, the Indian spiritual and religious market is valued at a whopping $40 billion (~₹ 300,000 crores), out of which the horoscopes market in India alone is $10 billion (~₹75,000 crores), with about 2 million astrologers practising astrology. Given the potential, InstaAstro connects 500+ qualified professionals from across the country on their current roster with 60,000 monthly customers. As a result, their Monthly Recurring Revenues (MRR) and users have grown 20x and ~25x, respectively, since February 2021. The platform currently has over 30,000 monthly consultations translating to 350,000+ minutes of monthly consultation.

The startup intends to disrupt the online astrology industry and cater to the tech-savvy millennials with strong spiritual beliefs. From a consumer standpoint, InstaAstro is addressing current sector challenges like trust, the discovery of astrologers, privacy concerns, convenience, standardized customer experience and the transactional nature of conversations. They are mindful of addressing privacy concerns that have surrounded the tech-sphere for the last decade by implementing a stringent onboarding process of professionals that ensures quality control confidentiality.

Nitin Verma, Founder/CEO, InstaAstro, said, "After the lockdown, there was a clear ask for professional astrology wellness services that would help consumers deal with the 'need to solve' problems, that promotes mindfulness - an integral part of the mental continuum. Although astrology and other spiritual practices are an integral part of the millennial culture, the fragmented nature with the lack of a standardized process was making it challenging for the consumers to get reliable service that ensured confidentiality. Hence, we came up with a spiritual wellness platform by blending ancient Indian sciences - powered by Astrology consultation (managed marketplace) and action-based remedy. With 115 million people in India spending a minimum of $50 on traditional astrology services, we see a significant headroom for growth in India and abroad.". Nitin Verma is an IITK alumnus. Prior to InstaAstro, he co-founded two more companies, including DByDx Software (acquired by Kelltontech Solution Ltd) and Edureka(acquired by Veranda Learning Solutions).

Anirudh A Damani, Managing Partner, Artha Venture Fund, said -

In a time where consumers are seeking out local spiritual support to resolve their pain points, it was difficult to find a professional solution in an already fragmented market - due to concerns such as authenticity, result-oriented approach and privacy.

Anirudh Damani, Managing Partner, Artha Venture Fund

We were impressed by the team at InstaAstro and how they have leveraged new-age technology to help consumers resolve their real-life problems in a structured manner. Moreover, with their growing roster, the platform could cater to high volumes of queries across the country/globe and use technology to create personalized, engaging experiences and measure outcomes.

Above all, Nitin is a seasoned entrepreneur with a solid track record from his previous startups. We are elated to have the InstaAstro team join the AVF family!"

InstaAstro services are available through their website and the app, which is available on Google Play Store and Apple App Store.

About InstaAstro Technology Private Limited

InstraAstro is an internet-first platform that aims to bring the most famous Vedic astrologers, Tarot card readers, numerologists, Vastu experts from India on a single online platform. This platform allows users to meet the most authentic Astrologers from the comfort of their homes, either on-call or through chat. In addition to providing Astrology consultations and build upon the core concept of mindfulness, they provide a tracker for actionable remedies, guidance with a daily content feed and measure the user’s outcome with a ‘completion score’. The completion score enables users to track their progress, enabling them to participate in their improvement journey, which in turn leads to stickiness for InstaAstro.

About Artha Venture Fund

Artha Venture Fund (AVF) is India's first early-stage micro-VC firm with a corpus of ₹225 crores. Since its inception in late 2018, AVF has primarily funded and supported multiple startups that operate as enablers and entities focused on solving the challenges of Indian consumers and businesses. The current fund makes thematic investment allocations for B2B, B2C/D2C, and D2C enablers.

Led by Anirudh A Damani, a second-generation investor, the firm has a network of limited partners, co-investors, founders, and family offices that traverse the globe. AVF's portfolio includes Agnikul, LenDenClub, HobSpace, PiggyRide, Daalchini, Kabbadi Adda, and more.

Artha Group, the umbrella entity of AVF, has investments in 85+ startups across India, the US, and Israel like OYO Rooms, Purplle, Tala, Coutloot, Karza Technologies, Mobilewalla, Interstellar and more.

For more information, please visit www.artha.vc

Immensitas Raises ₹6.30 Crores in Pre-Series A Round, Led by Artha Venture Fund

(L-R) - Subra Krishnan, Rinku Ghosh and Praveen DS

The round also saw participation from LogX Ventures

The funds have been earmarked for R&D, marketing and sales acceleration

Immensitas’ product, Lemnisk, processes ~475 million customer profiles monthly and is proven to provide up to 30% lift in digital revenues at scale

INDIA, Mumbai, July 27, 2021: Immensitas Private Limited raised ₹6.30 crores in Pre-Series A round led by Artha Venture Fund (AVF), India's first early-stage micro-VC fund. The round also saw participation from Ramakant Sharma’s LogX Ventures. The funds will be utilised by Immensitas’ offering – Lemnisk - a leading enterprise Customer Data and Marketing Automation Platform, based in Bangalore. This investment is AVF’s 11th from its recently closed ₹225 crores micro-VC fund.

Lemnisk is a customer data and marketing automation platform that stitches and activates myriad customer data points from different channels in real-time, thereby enabling marketers to communicate with their users effectively. Currently, Lemnisk is the only platform that can consolidate and act on customer data signals, especially if these inputs are coming from different channels. 

The company is set to disrupt the pace at which customer user journeys can be made more impactful and targeted using their machine learning-driven cross-tool journey orchestration platform. Lemnisk has witnessed a 250% growth since October 2020, and the platform processes ~475 million customer profiles monthly, providing up to a 30% lift in digital revenues.

The last decade has seen data privacy concerns come to the fore with governments across the world take it seriously through GDPR, CCPA and other policy frameworks. In this context, Lemnisk helps marketers stay future-ready by proactively taking charge of their customer data and build a trusted relationship with their customers.

Subra Krishnan, Co-Founder & CEO of Lemnisk, said, “Customers have come to expect every brand and service provider they engage with to offer the same level of personalization that they get from their e-commerce or OTT providers. Before COVID-19, there was already a growing demand for real-time personalization across every customer touchpoint. COVID-19 has only accelerated this trend further, as enterprises recognize they will quickly be left behind if they aren’t delivering experiences that exceed customer expectations."

Anirudh A Damani, Managing Partner, Artha Venture Fund, said, “In a world where customers engage with brands across multiple channels for buying and inquiring, identifying the customer across channels is difficult due to customer data and privacy challenges.

We were impressed by the team at Lemnisk and how they have leveraged new-age technologies to help marketers take charge of their data. Moreover, the Lemnisk platform could bring together multiple high volumes, high-velocity data sources together, understand individual user interaction patterns and deliver highly scaled and personalized multi-channel experiences in real-time. Rinku, Praveen and Subra form a perfect founding team with complementary skills. They have an ambitious and global vision, and are in the right space at the right time. We are thrilled to have them join the AVF family!”

Lemnisk has an impressive list of customers including AIA Insurance, Emirates NBD Bank, Citibank, Abu Dhabi Commercial Bank, Bajaj Finserv, Acko Insurance and Livspace among others. It has offices in Singapore, Dubai, and Bangalore and will use a part of these funds to open the US market.

About Immensitas Private Limited

Immensitas Private Limited’s offering Lemnisk is a Customer Data Platform-led personalization and real-time marketing automation solution that delivers increased revenue via higher conversions, retention, and growth for enterprises. The key capabilities include:

• Stitch and uniquely identify a user in real-time across different data sources and channels
• Create 1:1 personalized experiences for each user across multiple marketing channels
• Orchestrate individual customer journeys on the right channels at the right time using a proprietary in-built AI engine

Immensitas Private Limited has offices in Singapore, Bangalore and Dubai. Immensitas Private Limited is ISO 27001 and ISO 27018 certified. For more information, please visit lemnisk.co

About Artha Venture Fund

Artha Venture Fund (AVF) is India's first early-stage micro-VC firm. Since its inception in late 2018, AVF has primarily funded and supported multiple startups that operate as enablers and entities focused on solving the challenges of Indian consumers and businesses. The current fund makes thematic investment allocations for B2B, B2C/D2C, and D2C enablers.

Led by a second-generation investor, Anirudh A Damani, the firm has a network of limited partners, co-investors, founders, and family offices that traverse the globe. AVF's portfolio includes Agnikul, LenDenClub, HobSpace, PiggyRide, Daalchini, Kabbadi Adda, and more.

AVF is part of Artha Group with investments in 85+ startups across India, the US, and Israel like OYO Rooms, Purplle, Tala, Coutloot, Karza Technologies, Mobilewalla, Interstellar and more. For more information, please visit www.artha.vc

Artha Venture Fund Announces Final Close of ₹220+ Cr Debut Fund; Will Invest in 12-15 Startups in FY 2021-22

Anirudh Damani, Managing Partner, Artha Venture Fund 2021

SIDBI, Indian corporates and Indian founders have invested in the fund

₹50+ crores have already been invested from the debut fund in 12 startups, including Agnikul, LenDenClub, PiggyRide, Daalchini and GetWork

AVF’s portfolio-wide revenues grew 3x in 12 months without raising additional capital

04th June 2021, Mumbai, India - Artha Venture Fund (AVF), India's first early-stage micro-VC fund, announced the final close of its debut fund at ₹220+ crores. The fund invests in B2B, B2C/D2C sectors and D2C enablers amongst others, and had targeted raising ₹200 crores. However, a surge of interest in Indian startups and the robust performance of the seed+ fund’s early investment made AVF overshoot its target and exercise the greenshoe option. AVF is a Category I alternative investment fund that invests in startups across seed, pre-series A, and series-A levels of growth.

The fund had targeted closing the corpus by July 2021 but overachieved its target two months ahead of schedule. 50+ limited partners (LPs) participated in the fund, with almost half of the LPs increasing their investment commitments in the last 3 months. More than 50% of the investments came from family offices, and from over 20 listed companies participating directly or through promoter entities. NRIs, HNIs, super angels, and SIDBI invested the remaining capital. The fund has allocated over 65% of its corpus for follow-on rounds and will make 10-12 seed+ investments per year.

Anirudh A. Damani, Managing Partner, Artha Venture Fund said, "I am delighted with the confidence that our investors have shown in our investment strategy. Besides exceeding our targeted raise two months ahead of schedule, almost 50% of our first cohort of LPs doubled down on their earlier investments. Many referred us to people in their network. I welcome each LP to our investor family. Their reinvestment in, and promotion of, our fund within their network is a clear indicator that our fund strategy and structure resonates with them at a deeper level."

"The real credit of closing this fund goes to our founders and my fantastic team. The effect of the two pandemic-led lockdowns shook our portfolio founders and our team. However, each one stuck to their task, and our founders responded to each obstacle as an opportunity. As a result, our portfolio-wide revenues grew 3x in 12 months without raising additional capital. This frugal but explosive growth is what excites us and our investors. We will continue to scout for seed+ stage deals in our preferred investment themes of D2C, D2C enablers, and B2B. Another sleeping giant that has piqued our interest in the last 12 months is the gaming sector, especially for the masses", he added.

Vinod Keni, Growth Partner, Artha Venture Fund commented, "I am humbled and grateful for the confidence placed by our investors in our investment and capital deployment strategy. The increase in commitments by our existing limited partners further validates our execution and the market opportunity. I look forward to working with our LPs, learning and leveraging their experience, expertise and networks for the benefit of our portfolio companies. The experienced team at Artha Venture Fund understands the importance of shared efforts, vision and purpose required to support amazing and successful enterprises. Our limited partners are vital to this mission".

AVF had previously announced the second close of ₹100 crores of the said fund in June 2019. It has invested more than 25% of the total corpus in category-winning startups such as Agnikul, LenDenClub, Kabbadi Adda, HobSpace, PiggyRide, Daalchini, and more. The fund recently reinvested in Agnikul's series-A round and has 6 deals set in the pipeline for the next few months. AVF has been broadening investment opportunities by engaging with various accelerators across the country and cumulatively (through associations and directly) plans to support 40 accelerator stage investments through small cheques written from this fund.

About Artha Venture Fund

Artha Venture Fund (AVF) is India's first early-stage micro-VC firm. Since its inception in late 2018, AVF has primarily funded and supported multiple startups that operate as enablers and entities focused on solving the challenges of Indian consumers and businesses. The current fund makes thematic investment allocations for B2B, B2C/D2C, and D2C enablers.

Led by Anirudh A Damani, a second-generation investor, the firm has a network of limited partners, co-investors, founders, and family offices that traverse the globe. AVF's portfolio includes Agnikul, LenDenClub, HobSpace, PiggyRide, Daalchini, Kabbadi Adda, and more.

AVF is part of Artha Group with investments in 85+ startups across India, the US, and Israel like OYO Rooms, Purplle, Tala, Coutloot, Karza Technologies, Mobilewalla, Interstellar and more. For more information, please visit artha.vc

P2P Lender LenDenClub Raises $1 Mn in Funding from Artha Venture Fund and Family Offices

LenDenClub, the fastest-growing peer to peer (P2P) lending platform in India, has raised a Pre-Series A funding of $1 million led by Artha Venture Fund, a micro VC fund that invests in early-stage companies.

The round also saw participation from several family offices like the UAE-based Transworld Group, and marquee angel investors Shuchi Kothari, Ramakant Sharma, Narendra Karnavat, Nandi Mehta. Previous investors also participated in the current round.

LenDenClub offers small ticket loans directly to lenders from over 150 cities. They started in 2016, disbursing 1 loan a day and, within a short span of 3 years,they have grown to 150 loans/day. Their fast growth is attributed to the runaway success of LenDenClub’s InstaMoney platform. InstaMoney services a gap that banks and NBFCs cannot fulfill - providing small-ticket loans disbursed into the bank accounts of salaried individuals within 24 hours.

[caption id="attachment_134449" align="aligncenter" width="894"] Bhavin Patel Co-Founder & Chief Executive Officer, LenDenClub[/caption]

LenDenClub leverages its proprietary tech-stack to reduce the time taken to underwrite a loan. Loans that meet the minimum preset qualification criteria get approved within 5 minutes and those that are rejected are underwritten by a back-end team with a 2-hour turnaround on the lending decision. The approved borrower profiles go live on a special lender app where over 10,000 active lenders choose whom they want to lend to.

Late in 2018, a lender survey revealed that fierce competition for LenDenClub’s loans had left many lenders without enough opportunities to deploy the funds in their lender accounts. To resolve this problem, LenDenClub’s tech team developed an auto-invest feature.The feature allows the investor to choose from over 40+ criteria provided by borrowers.The criteria include utilization of funds, tenure of loan and even whether the borrower’s residence is self-owned or rented.

The funds from the lender’s account are auto invested if the borrower’s profile meet the criteria set by the lender. Over 70% of lenders activated this feature and its success can be gauged by LenDenClub founder, Bhavin Patel’s claim that 100% of all borrower profiles that have gone live on the platform have been funded.

LenDenClub makes revenues through registration fees and success fees charged to lenders and borrowers. Currently, it is operating in just 6 states with more than half a million individuals registered on the platform, disbursing 50,000+ P2P loans, and managing a loan book of Rs. 60 crores that is growing almost 20% month on month over the last 12 months. It intends on utilizing the $1 million fundraise to expand its senior management team, develop innovative lending products and expanding its geographical reach to 12 states.

Bhavin Patel, Co-Founder & CEO, LenDenClub said, “The current funding round gives us the ability to double our reach and continue our quest in finding creditworthy borrowers that are not being serviced by the current financial institutions. We also aim to double the number of lenders on the platform to reach Rs.500 crores disbursal in the next 18 months."

LenDenClub was Artha Venture Fund’s first investment and is also their first follow-on investment from the same fund. The fund’s Managing Partner, Anirudh A Damani said that, “P2P lending truly democratizes the lending ecosystem in India by removing the middlemen i.e. the NBFC’s and banks that have successfully credit-starved the Indian consumer. Their spectacular growth in lender registrations and money disbursed is even more heartening at a time wherein the entire lending ecosystem is petitioning the government for a bailout. There may not be a better poster boy for the success of P2P in India!"

The fund’s Growth Partner, Vinod Keni, also added, “LenDenClub’s solution of directly connecting individual lenders to borrowers has been a resounding success. It has, no doubt, been a pleasure to work with LenDenClub in their journey of making P2P platforms tantamount to the banking ecosystem in India.”

LenDenClub is the new-age P2P platform aims to foster financial inclusion by leveraging technology to support borrowers with hassle-free loans, even in the remotest parts of the country, while providing a new age investment option for lenders. LenDenClub currently enjoys a user base of over half a million and disbursing 50,000 loans per year. While the lenders at the platform are spread all across India to even NRIs, the borrowers are currently active in 6 states of the country. The platform has 100% funding record for its borrowers.

Artha Venture Fund is a micro VC fund that invests in early-stage companies, with follow-on investments up to Series A​. The fund thematically invests into consumption, consumption enablers and B2B. The fund made its second close in July 2019 at Rs. 100 crores with a portfolio of 6 companies: LenDenClub, Haazri, KabaddiAdda, Jadooz, Daalchini and Everest Fleet.