Amwoodo Secures $4M Pre-Series A to Accelerate Plastic-Free Living with Bamboo Innovation

L-R  (Mr Sourav Dey, Director and Co-founder, Mr Agni Mitra,Founder and CEO and Mr Avijit Rajak, Co-Founder and Director of Finance)

Amwoodo, an innovator in bamboo-based sustainable solutions, announced that it has raised $4 million in Pre-Series A funding from a consortium of leading investors. This round was led by Rainmatter, with participation from Adventz Group, Thinkuvate, and Caspian. The investment marks a significant milestone in Amwoodo’s mission to accelerate the transition toward eco-conscious living by creating world-class alternatives to harmful disposable products.

Founded in 2019, Amwoodo has been at the forefront of replacing single-use plastics with bamboo-first products that combine sustainability with everyday convenience. The company has built strong B2B partnerships with leading names such as Himalaya Wellness Company, Bombay Shaving Company, and ITC Hotels, while also expanding into the Direct-to-Consumer (D2C) space through its marketplace Ecoconsious. With this new funding, the company will:

• Scale production capacity to meet growing domestic and global demand
• Enter the D2C market through its own marketplace, Ecoconsious, and launch other plastic-alternative brands under the House of Amwoodo
• Strengthen community engagement and expand livelihood opportunities in bamboo-growing regions

It is a shared commitment to rewriting the story of sustainability—where innovation replaces waste, communities thrive, and every product leaves the planet better than we found it. With this support, we are not just scaling a business; we are fueling a movement to make eco-conscious living the norm, not the exception. We’re leading from the ground up - listening, learning, and building with the community. Because change starts where the roots are.

— Mr. Agni Mitra, Founder & CEO, Amwoodo

Mr Agni Mitra, Founder and CEO

At Amwoodo, we have always believed that sustainability is not a trend—it’s a responsibility. This funding is a testament to the collective effort of our passionate team, the trust of our partners, and the unwavering support of our customers. Together, we are proving that businesses can drive both profit and purpose, and we are ready to take the next big leap toward making eco-conscious living the global standard.

— Mr. Subhrakanti Das, Chief of Staff, Amwoodo

Amwoodo’s growth is also supported by recognition as a Great Place to Work® (India) and accolades from various media houses, reinforcing its reputation as a leader in innovation and sustainability.

About Amwoodo

Amwoodo Eco Products Private Limited is India’s foremost innovator in sustainable bamboo-based solutions, creating eco-friendly alternatives to everyday essentials. Founded in 2019, Amwoodo is built on the belief that sustainability is not a trend but a responsibility. With a bamboo-first approach, the company offers a wide range of products—from premium personal care and oral care to hotel amenities, office stationery, and corporate gifts—designed to replace plastic in daily life. Backed by leading clients such as Himalaya Wellness Company, Bombay Shaving Company, and ITC Hotels, Amwoodo is redefining conscious consumption through innovation, ethical practices, and circular economy principles. Supported by $1 million in funding from Rainmatter (Zerodha) and recognized as a Great Place to Work®, Amwoodo continues to inspire a global shift toward eco-conscious living and a greener future.

Kolkata based Stock Market Research and Analytics Platform StockEdge Raises 10 Cr from Kotak Securities

L-R Vineet Patawari,Vivek Bajaj & Vinay Pagaria.

Kredent InfoEdge Private Limited (KIPL), which operates the brands StockEdge and Elearnmarkets, raised growth capital INR 10 Crores from Kotak Securities Limited to expand their product capabilities and increase the user reach. This is the first funding transaction undertaken by Kotak Securities Limited (KSL) as a part of its recently launched Start-Up Investment and Engagement Programme.
The funding was secured keeping in mind the rising need of financial awareness among the first-time investors. The company plans to leverage the funds raised to scale up their e-learning and analytics offerings and upgrade their data and technology.

The company currently serves over 2 million users and is looking to scale the user base to 10 million. Kotak’s investment and strategic value will fast track this journey. The company aspires to create an ecosystem which can serve an investors complete journey from learning (through elearnmarkets), research and data analytics (through StockEdge), collaboration (through StockEdge social), and transaction. It is planning to launch its social investing platform along with a transaction engine which will host multiple intermediaries.

Elearnmarkets is the largest financial education platform in India with over 1 million learners and more than 200 market experts hosting finance courses in multiple languages. StockEdge is one of the largest stock analytics platforms in India with over 1 million active users.

Vivek Bajaj, Co-Founder & Director, StockEdge & Elearnmarkets said, “We are excited to have Kotak Securities onboard as one of our investors. We share a common philosophy of empowering retail investors through thorough knowledge. As financial markets in India expand to real Bharat, we are perfectly positioned to cater to the overall needs of the ‘New Indian Investor’”.

Cofounded by Vivek Bajaj, Vineet Patawari and Vinay Pagaria, the company had earlier raised capital from investors like Ramesh Damani, IndiaMart founder Shri Dinesh Agarwal and others. A fintech focused VC firm Samyakth Capital, an existing investor also participated in the current round. All three co-founders are Chartered Accountants and two of them did their MBA from IIM Indore.

Further to this funding, StockEdge and Elearnmarkets.com will look to raise Series A funding within 12-15 months to create a niche ecosystem in the capital markets of India.

Ernst & Young (EY) acted as the exclusive financial advisor and Cyril Amarchand Mangaldas (CAM) acted as the exclusive legal advisor to KIPL.

Stritmedia Acquires Kolkata based Startup Fleapo Pvt Ltd, Says More Acquisitions on the Cards

• The company aims to increase its valuation to 5 Million USD by 2023
• With the acquisition, Stritmedia has planned to pump in around 100K USD for the next 3 years towards expansion and service offerings 
• Larger vision is to create a dynamic Industry presence and be amongst the top web and software development companies in India
• The brand has plans to acquire a series of more brands to create a strong market presence

Kolkata, Dec 9, 2020: Stritmedia, a Kolkata based company has acquired Fleapo Pvt Ltd at an undisclosed amount. The deal leads to the launch of a new brand called Sinofled Pvt Ltd.

Fleapo Pvt Ltd, which is now Sinofled operates in the segment of software and application development.

Along with the acquisition, Stritmedia would pump in around 100K USD towards expansion plans, team building and services section of the brand under the directions of Shivang Priyadarshy, Subhash Jha and leadership of Pawan Rai.

"I'm extremely delighted to share this news. We have done rigorous planning to build Sinofled as one of top software development brands in the country. Our focus will be largely on leveraging and making maximum use of technological advancements to create self-service products which will provide 360-degree automated solutions," said Pawan Rai, Founder of Stritmedia.

Pawan also added that this acquisition is the first of many lined up for the startup in the allied fields of Software Development.

Elaborating on the market expansion plans of the brand, Pawan adds, "Our team is aggressively working in the backend to foray into the Indian market with strong brand presence. We are also targeting to acquire a brand in every major city like Bangalore, Mumbai, Delhi etc for a robust foundation and merge it all with Sinofled Private Limited."

The series of acquisition for Sinofled will bolster its offerings and will further define our position in the sector, he further added.

Stritmedia is a four-year-old company which operates in Ad & News Media house + affiliate marketing sector.

Kolkata-based Hotel management Firm Omatra Hotels Raises Seed Funding

• With the latest funding, Omatra aims to focus on expansion plans across India and sales restructuring 
• The firm is focused on creating products that empower single women travelers, ensuring that all their concerns and expectations are met with the hotel 
• The brand aims at providing budget hotels but with a standardized product which makes them different and is their Unique Selling Point 
• Started as a bootstrapped brand, Omatra expanded from 24 keys to 150 keys in a few months                                                                        

Kolkata, November 22, 2020: Kolkata-based hotel management firm, Omatra Hotels on Monday announced to have received an undisclosed amount of seed funding led by Capify Network. 

With an innovative offering to asset owners aiming at entering the hotels industry, Omatra plans to utilise the funds to expand its footprints and restructure its sales division for creating indomitable brand presence.

Sharing the development, Sujit Jha, Managing Partner of Capify Network said, "The service offerings of Omatra hotels is a fresh and much needed perspective considering the dynamic Industry demands and trends. We are excited to be a part of Omatra and with the current investments, we plan to help scale the firm and look forward to its success,"

Currently they are operating in 8 major cities which include Bangalore, Mysore, Coorg, Hubli, Pushkar, Jhansi, Kolkata and Patna.

Sharing his plans for the brand, Syed Saqqa Abbas, Founder of Omatra said, "There is a huge market demand for standardised products in pocket friendly budgets. The industry currently is unable to meet the demand supply gap in this vertical and we wish to leverage the demand and cater to this set of audience through the innovative Omatra products."

He added that the brand is focussed in building innovative products based on thorough market research and consumer behaviour to offer global standard product offerings within a budget that doesn't hurt the pocket.

Founded by Naveed Ahmed and Syed Saqqa Abbas in 2017, Omatra was built on practical experiences and industry understanding of its two founders. While Abbas has worked with top Hospitality brands, Naveed was a part of the founding team at Treebo. Being from the hospitality industry for over a decade, the founders wish to overcome the shortcoming they have faced and understood from their experience to create a great product.

Omatra is an integrated hotel service setup which includes midsized express service hotels that are responsible for design, pre-opening, operation, sales, brand positioning, engineering, pricing and inventory control.

"The USP of Omatra is the ROI that we guarantee to all our asset owners (clients). Our motive is to create a Made-in-India platform which can design and operate all kinds of hotels that gives complete product satisfaction and luxury," the founder duo said.

About Omatra

Omatra hotels is a part of Omatra hospitality Services Private Ltd, which believes in focusing on their core mantra i.e. Omatra which means "protection" or "in favour of". The core team consists of young, talented and dynamic hospitality professionals aimed at creating strong ROI based solutions through their practical experience and industry understanding.

Retail Startup Rare Planet raises Pre Series A from Venture Catalysts and Uni-M Ventures

The funding round also saw participation from prominent entrepreneurs such as Sagar Daryani (Co-founder – Wow! Momo), amongst others 

Venture Catalysts, India’s first and largest integrated incubator and accelerator, has recently co-invested in Rare Planet’s Pre Series A Round , an innovative handmade lifestyle retail start-up. Led by Kolkata-based Uni-M Ventures, the round saw the start-up raise an Undisclosed amount from several leading angel investors. Existing investors such as Sagar Daryani (Co-founder – Wow! Momo) also participated in the round, once again demonstrating their faith in the venture’s vision and mission.

Established in 2015 by Ranodeep Saha and Vijay Kumar, Rare Planet aims to promote indigenous Indian handicrafts by empowering local artisans and providing them with sustainable employment opportunities. It has helped more than 2,000 artisan families from rural areas to register an average increase of 120% in their income and aims to do the same for millions of artisans across the country.

Speaking on the investment, Ranodeep Saha, CEO & Co-Founder – Rare Planet, said, “The pandemic has had a major impact on the economy as well as the investment landscape. To secure an investment from top investors such as Venture Catalysts, Uni-M Ventures, and Sagar Daryani, in such a scenario, validates the strength of our business proposition. We remain committed to creating greater value for rural artisans and taking indigenous Indian handicraft items to a much larger audience across the globe keeping the Profits growing quarter on quarter ”

Dr. Apoorva Ranjan Sharma, Co-founder & President – Venture Catalysts, said, “The team at Rare Planet is building a unique social enterprise that drives innovation and entrepreneurship while creating equitable socio-economic value. We are fully behind the founding team’s vision to promote indigenous handicrafts and are confident that it can put the Indian arts and handicraft ecosystem firmly on the international map.”

Rare Planet is present in more than 100 locations across India and has retailed more than 5 lakh units worth INR 20crore to date. With the latest investment, it aims to take handmade Indian handicrafts, jewellery, and decor products made from terracotta, copper, ceramic, brass, wood, and marble, etc. to a global stage and disrupt the $8 billion handicrafts market.

Venture Catalysts is India’s first integrated incubator. It invests $250K – $1.5 Million in early stage startups that have potential to create enduring value for over a long period of time. Venture Catalysts brings a lethal combination of Capital, Mentoring and Business Network to help investee companies to succeed. Their innovation provides value to startups through its extensive angel network, funding, community, services and co-working facility.

Kolkata-based Data Sutram raises INR 2 crore from Indian Angel Network

Data Sutram is an AI-backed platform that gathers intel from external data to provide location-based data intelligence

In the face COVID-19 when startups are facing unprecedented challenges for survival, Data Sutram, a Kolkata-based early stage tech startup has raised funding of Rs 2 crore. The funding round was led by Indian Angel Network (IAN) angels Uday Sodhi, Mitesh Shah and Nitin Jain.

Established in 2018 by three Jadavpur University engineering graduates, Rajit Bhattacharya, Aisik Paul, and Ankit Das, Data Sutram is an AI-backed platform that gathers intel from external data to provide location-based data intelligence.

There is massive availability of valuable insights that lie in the form of unstructured data from multiple resources. These data need to be processed, cleaned, geotagged and converted into usable data that can be readily utilized by a business.

Data Sutram aims to resolve this problem as it uncovers raw data sources and calculates socio-economic parameters like demography, ethnicity, affluence, spending capacity, and a host of other parameters to understand a location.  The B2B focused startup helps a business by pinpointing new locations for a business to expand, improving the performance of existing assets (both physical and digital), and micro-targeting the right audience for the product. Starting at 12 data sources, the engine currently taps into over 200+ data sources in a span of 6 months to garner intelligence.

Speaking on the latest development, Uday Sodhi, Lead Investor at IAN said, “It is heartening to see start-ups such as Data Sutram using cutting-edge technology tapping unstructured data and insight to create innovative solutions for the B2B market. Its unique, tech-led approach is solving some of the most pressing problems for a large consumer base by developing a predictive analytics solution to help bridge the demand-supply gap. We hope our contribution will help the company realize its potential to the fullest and wish the founders continued success.”

Even in these testing times, the Location Intelligence platform has been working relentlessly to find out the availability of products by using multiple data sources and running its analytics engines to predict demand.

Rajit, Co-founder, Data Sutram said, “In a post coronavirus infected world, location has proved to be a crucial factor. Everyone is now more aware of location-based decision making like geo-fencing, geo-targeting, and the impact of location-specific action. When the 21-day lockdown was announced, a number of people went into panic buying. There was extensive shortages of essential goods across stores due to a surge in demand. With our ability to make use of unstructured data, Data Sutram’s platform helped companies to identify areas to deliver goods, ensuring the shortages were met and also increasing the market share. We are delighted to get IAN on board as an investor and will leverage the capital infusion to strengthen our platform in providing enhanced services to our consumers.”

At present the start-up is focused on retail-specific sectors such as pharmacy, FMCG and grocery, with plans of expansion into the BFSI, agritech, and media and entertainment in the future.

Earlier this year, Data Sutram was a part of the seed stage VC 100X VC’s first class  of 20 companies. Data Sutaram raised Rs 25 lakh from 100X.VC.

About Indian Angel Network:-

 Indian Angel Network is India’s first and world’s largest business angel network with close to 500 members across the world, comprising the who’s who of successful entrepreneurs and dynamic CEOs. With investors from 11 countries, IAN’s presence spans 7 locations, which includes cities in India and the UK.  The network is sector agnostic and has funded start-ups across 17 sectors in India and 7 other countries growing global footprint companies. With an excellent track record, IAN has been giving excellent cash exits year-on-year to its investor-members. Some of its marquee investee companies include WebEngage, Druva, Box8, Sapience Analytics, WOW Momos, Consure amongst many others.

The IAN Fund, an INR 375 crore fund, is a uniquely differentiated seed/early stage Fund which aims to transform India’s entrepreneurial landscape. The fund invests in innovative companies in sectors including healthcare and medical devices, VR, AI, software as a service, marketplaces, fin-tech, big data, artificial intelligence, agritech and hardware. The Fund leverages and builds upon the strengths and success of IAN, the world’s largest angel investor group, to breed and grow innovative companies.

Online Healthcare Marketplace SastaSundar Raises Rs 100 Cr from Mitsubishi Corp

Kolkata-based SastaSundar.com, an online medicine and healthcare products marketplace has raised Rs 100 crore ( ~ US$ 14 Mn) from Japan's Mitsubishi Corporation. The Japenese will pick up an undisclosed stake in the startup, reported Times of India.

According to Times of India report, the Mitsubishi investment in SastaSundar will give the Kolkata-based startup a valuation of over Rs 500 crore ( ~ US$ 70 Mn). SastaSundar Healthbuddy has a revenue of over Rs 220 crore. “The company would cross Rs 300crore mark in the next one-two years,” an official added.

The fresh funding is a part of the fund raised for expansion of SastaSundar and is after the recent investments of Rs 70.49 crore by Rohto Pharmaceuticals, Japan. In May 2017, the startup had raised $5 million in funding from Rohto Pharmaceutica, which too is based out of Japan and a 70-year-old pharmaceutical manufacturer headquartered in Osaka, Japan.

SastaSundar Ventures, a group holding firm, is the majority owner of the company with 83% stake, while Rohto has around 17% in SastaSundar.

Founded in 2013, by B L Mittal and Ravi Kant Sharma, SastaSundar is aiming to use the knowledge and best in class technology to reduce cost and to add convenience in making available medicine, healthcare products and other useful products with high quality.

Earlier this month, one of the main companies of Mitsubishi Group, Mitsubishi UFJ Financial Group (MUFG), acquired significant stakes in several Indian companies, including Dr Reddy's, Tech Mahindra, Tata Global Beverages, Godrej Consumer, Marico and Cyient through acquisition of entities that hold shares of the companies.

Kolkata-based KSL Cleantech Plans ₹ 200 Cr Investment on Electric Vehicles Venture

Kolkata-based KSL Cleantech plans to invest around Rs 200 crore in the next three years on development of electric two- and three-wheelers and expanding manufacturing capacity besides sales and marketing of the products, according to a top company official.

The company, which has been primarily into the solar power space for the last 10 years, is also in talks with global firms for partnering in its electric mobility venture in areas including product development and supply of components such as lithium ion batteries.

"We have drawn up a plan for three-year horizon. We plan to invest around Rs 200 crore across manufacturing, product development, marketing and branding. It will also include development of essential components, which has been now prescribed by the government to be indigenised," KSL Cleantech Ltd Managing Director Dhiraj Bhagchandka told PTI.

KSL Cleantech has been selling its electric three-wheelers under the Electeca brand, primarily in north and central India. It has a production capacity of around 10,000 units annually at its assembly unit near Kolkata.

"With the latest impetus on electric mobility across the country by the government, electric vehicles happen to be a natural extension of our business. It is time for us to also get into electric two-wheeler space," he added.

Asked by how much the company was planning to enhance its production capacity, he said, "We will scale up in line with the industry growth. We are hoping to multiply it two to three times (of the current capacity)".

He said the Indian electric two- and three-wheeler sales currently stand at around 8 lakh units annually.

Elaborating on the company's product launch plans, Bhagchandka said, "To start with, we will certainly go for the scooter category, because that is the more accepted product and has good demand in the Indian market today. We will be launching a few models and try to cater to different prices points and utilities."

He added that with the FAME II scheme in place, the company "will definitely want to take advantage of it. We are working with FAME II as one of the factors and we will be launching our models accordingly in the next 12 to 24 months."

Bhagchandka said a significant percentage of the company's products will be lithium ion technology based, considering its advantages as well as the push from the government for it.

He, however, said, "It is very difficult to say at this stage if we will be converting the entire fleet (three-wheelers) to lithium ion. We might retain a few of the lead acid models depending on how the market evolves."

On partnership, he said, "We are in advanced stages with some global companies to partner with us in this venture."

Without elaborating further, Bhagchandka said, "We are in advanced talks with global (battery) suppliers and also in India lot of companies are in advanced stages of setting up lithium ion battery units, we are in talks with them also for supply options." PTI RKL

Kolkata gets it's first Fintech Incubator 'Fincubation' by a group of IIT and IIM Alumni

Kolkata gets it's first Fintech incubator - Fincubation, an initiative by a group of IIT and IIM educated industry experts with over 100 years of cumulative experience in the domain of finance. The fincubated companies will get industry expert's valuable lessons which they have learned the hard way in building their ventures and get access to over 1 million users onboarded by the existing operating products.

The platform will be helping the first-time entrepreneurs in Ideation, Feasibility Testing, Developing and validating business plans, Business and entrepreneurship training, Networking opportunities and Fund raising. Along with mentorship and guidance Fincubation provides the startups with resources, such as, co-working spaces to both locations with powerful computers, latest configurations, High-speed connectivity, 24/7 power backup,IT support team, Spacious work areas, Conference halls and Meeting rooms.

NASSCOM incubated Robo advisory startup Findvise Services Pvt. Ltd. is already getting incubated by Fincubation. Findvise, is a financial planning and investment advisory providing automated financial solutions with data and behavioral analysis through its app. Launched in January 2018, this smart Robo advisory platform aims to mitigate the challenges faced by the medium and lower income group in India that bars them from meeting their financial aspirations. Within a short time span of a year, Findvise is amongst the 4 start-ups from the Eastern part of India, selected for Nasscom’s first accelerator program. Findvise ranked within the top 10 most promising fintech startups by FICCI start-up Launchpad, the American consulate, Sillicon Valley-India, Nasscom and many others. 

Commenting on this initiative Mr. Vivek Bajaj, Managing Director Kredent InfoEdge “We believe that the financial inclusion in our country has just begin and we need more and more tech enabled solution providers to cater to various needs of retail participants. Through this initiative, we are not just helping deserving entrepreneurs to reach to the critical mass but also building an entire ecosystem around our products, which is helping our growing user base to get more value from us. A clear win-win situation for everyone. We are very selective in our selection process and we would like to work with people who share similar passion of simplifying finance for everyone”

The Founders

Vivek Bajaj-Director,Kredent Enterprises: A Chartered Accountant, Company secretary and a Post Graduate in Management from IIM Indore. He is an active financial market participant and speaker in various universities, IITs and IIMs.

Vineet Patawari -Co-founder & CEO, Elearnmarkets & StockEdge: a Chartered Accountant and a Post Graduate In Management from IIM Indore. He is an expert in driving growth strategy and its execution through product innovation, product marketing and brand building.

Vinay Pagaria-Co-Founder,StockEdge & Technology Head, Elearnmarkets: A Chartered Accountant and a qualified System Auditor (DISA) from ICAI by education, but software development runs in his blood. He has over 15 years of experience and is the technology lead for Fincubation

Rajib Ranjan Borah- Co-Founder & Director, Irage Broking Services LLP: A PGDM from IIM Calcutta and leads the proprietary trading business of iRage. He is also an expert in Algorithmic Trading and has been a regular speaker in many international conferences.

Kolkata-based Edutech Startup Notebook Launches their Platform Nationwide

Kolkata based Edutech startup, Notebook officially announced the launch of their platform nationwide. The company’s initiative allows children and parents to learn topics of their respective school syllabi through audio-visual content, text notes, and an exhaustive question bank. Going forward, the platform shall provide education aids designed for dyslexic and visually challenged students. It aims to articulate the gaps in the school education system in India and address them across all major boards and subjects.

Notebook will reach out to those desirous of such an education aid in the urban and rural sections of the country at affordable pricing. As an introductory offer, the platform has been kept free of cost at launch. The platform imparts education in an augmented storytelling format which mixes teacher-led and visual-led learning audio-visual content, complemented by in-depth text content.

Founded last year, by Achin Bhattacharya and Subhayu Roy, Notebook is a mobile-first product that combines video and text content to deliver best in class education according to the school curriculum. With productive engagement in mind, visuals and audio are used in a way to create maximum impact through short-form content.

Speaking at the launch of the platform, Mr Achin Bhattacharyya, Founder & CEO, Notebook said, “We are delighted to share the launch of our unique platform. With a responsibility to let every child learn, our product converts each and every topic into concise audio-visual form and delivers through cloud-based architecture that can be streamed on any personal devices.

“It will also include vernacular languages to overcome regional barriers to make learning easier and efficient. Our vision is to provide affordable access to the high-quality education system in India” He added.

Mr. Subhayu Roy, Co-Founder, Notebook said, “It is exciting to see the fruits of our labour finally reach the students. We believe we have developed an instruction design that engages, educates and aids recall. We have set out to make a difference in the way every student perceives education, and nothing would make us happier than to see students finding this helpful and relevant. We have been extremely lucky to find great people all along our journey and have a great team. For this, I am truly grateful.”

Also present at the launch was Mr Ashok Ganguly, who Notebook has roped in as a Senior Advisor. Mr. Ganguly was Chairman of the Central Board of Secondary Education (CBSE) and was instrumental in various significant improvements in India’s school education system. As a member of the National Steering Committee and the Central Advisory Board of Education, he played an important role in the development of the National Curriculum Framework 2005.

Kolkata-based EasyBuyHealth Raises $350,000 Seed Funding

Kolkata-bassd healthcare services aggregator-marketplace EasyBuyHealth, on Wednesday, said it has completed a successful round of seed funding of $350,000 (Rs.2.24 crore).

The platform, aiming to provide the uninsured and underserved segment of the Indian population equal access to diverse healthcare services, has received an overwhelming response from investors as well as medical community, Gagan Kapur, Co-Founder and CEO, said.

EasyBuyHealth plans to use the seed funding to double its team size to over 100 in the next six months and leverage the capital towards developing a technical framework to build an all-encompassing healthcare platform for services ranging from preventive, operative, diagnostic to wellness.

EasyBuyHealth investors comprised a diverse group of individuals from the business and medical community They included Mukesh Agarwal, an IIM Kolkata alumnus, owner of MGM Forgings and a serial angel investor in five innovative companies.

Founded in 2016 by Gagan Kapur, EasyBuyHealth has already associated with more than 662 brands in 11,000 locations across the country. From corporate to individual healthcare across urban and rural India, it aims to be a one-stop solution provider where users can discover, understand and avail the best healthcare services in a most convenient manner.

In January, PlanMyMedicalTrip, an online platform that offers international patients access to medical care in India and Turkey, had raised Rs 1.25 crore ($187,000) in angel funding.

Kolkata-based EasyBuyHealth Raises $350,000 Seed Funding

Kolkata-bassd healthcare services aggregator-marketplace EasyBuyHealth, on Wednesday, said it has completed a successful round of seed funding of $350,000 (Rs.2.24 crore).

The platform, aiming to provide the uninsured and underserved segment of the Indian population equal access to diverse healthcare services, has received an overwhelming response from investors as well as medical community, Gagan Kapur, Co-Founder and CEO, said.

EasyBuyHealth plans to use the seed funding to double its team size to over 100 in the next six months and leverage the capital towards developing a technical framework to build an all-encompassing healthcare platform for services ranging from preventive, operative, diagnostic to wellness.

EasyBuyHealth investors comprised a diverse group of individuals from the business and medical community They included Mukesh Agarwal, an IIM Kolkata alumnus, owner of MGM Forgings and a serial angel investor in five innovative companies.

Founded in 2016 by Gagan Kapur, EasyBuyHealth has already associated with more than 662 brands in 11,000 locations across the country. From corporate to individual healthcare across urban and rural India, it aims to be a one-stop solution provider where users can discover, understand and avail the best healthcare services in a most convenient manner.

In January, PlanMyMedicalTrip, an online platform that offers international patients access to medical care in India and Turkey, had raised Rs 1.25 crore ($187,000) in angel funding.

Kolkata-based F&B Startup Chai Break Gets Rs 5 Cr Angel Funding Via Venture Catalysts

Kolkata-based food and beverages (F&B) startup Chai Break has received Rs 5 crore angel funding from Venture Catalysts of Mumbai which would be used for expansion of the outlets of its chains, mostly in Tier II cities.

Founded 2010 by Anirudh Poddar and Aditya Ladsaria, Chai Breaj is a bootstrapped startup which presently has 11 outlets across Kolkata and Bhubaneswar, each with an annual turnover of Rs 1.5 crore.

Co-founder of Chai Break Anirudh Poddar told reporters here today that the company plans to open outlets in Tier II cities like Patna and Ranchi.

"We plan to reach 10 more cities in the next 2-3 years with special focus on Tier II locations and aiming at a turnover of Rs 50 crore," Poddar.

The other co-founder Siddarth Ladsariya said that a part of the proceeds of the funding would be utilised to set up a central kitchen at a cost of Rs 70-80 lakh, adding that their venture has been making profits since inception.

He said that so far, all the outlets are owned and operated by the company.

"Now, we want to follow the FOCO model (franchise owned and company operated)," he said.

Presently, the company employs 300 people, which is expected to go up to 1,000 post-expansion.

There are also plans to set up outlets overseas in 7-8 years, Poddar said.

Fresh Graduates in Kolkata To Get "Rent-Free" Space for Innovative Ideas

Students and fresh graduates will be given “rent-free space” for churning out big ideas at the proposed Centre of Innovation in Kolkata, West Bengal IT Secretary Debashis Sen said today.

The state IT and Electronics Department has prepared a blueprint that would soon be placed before the Cabinet for approval, Sen said at the conference on ‘Innovation 2017: Next Big Ideas’, oragnised by the CII.

The innovation centre, at the IT Park being built at Bantala, Kolkata, is expected to be operational in the fiscal year 2018-19, Sen said.

A team of experts, headed by the director of IIT-Kharagpur Partha Pratim Chakraborty, would oversee the screening process of the new innovators.

Interested graduates would have to submit a short project report, merit and quality of which would determine selection.

“The state government’s vision is to improve the living standard of the common masses. The IT and Electronics Department will evaluate the performance of a student innovator every six months and decide whether he/she can continue,” he said.

It will also consider offering scholarships to bright students, Sen said, adding, the upcoming centre would involve top academics, scientists, industry members as mentors.

Via - PTI

IAN Partners With Kolkata Based Neotec Hub To Help Bolster Startup Ecosystem In The East

Reaffirming its commitment to support Startups countrywide including East India, Indian Angel Network (IAN) has announced a strategic partnership with Neotec Hub, an incubator started by Kolkata based corporate house - Ambuja Neotia, bringing innovative entrepreneurs, angel investors and corporates together on a single platform.

Kolkata is a little nascent in the development of the startup ecosystem but that exactly is the opportunity for innovative companies to start and create high growth companies. The city breeds high-quality talent which is critical for a robust startup ecosystem to breed.

With Neotec breeding innovation in the ever-emerging startup ecosystem, IAN would help fine tune their business strategy, provide mentorships as well as help them access to funds through IAN’s group of more than 450 angel investors.

Commenting on the partnership, Padmaja Ruparel, Co-founder, IAN said, “The IAN - Neotec partnership will provide a huge impetus to the startup ecosystem in the entire Eastern Region and we should see many innovative ventures. We are really excited to bring the IAN platform along with the IAN Fund to entrepreneurs who can raise from Rs. 25 lakhs to Rs. 50 crores off a single platform.”

Indian Angel Network has been instrumental in shaping India’s entrepreneurial landscape and has played a key role in incubating startups around the globe and support them through the entire journey from ideation to becoming enterprises and even after that. By collaborating with IAN, Neotech hub brings in a high-quality infrastructure accessible in the buzzing entrepreneur space of the city and empowering young entrepreneurs to access IAN's global mentoring pool and leverage its market reach.

“Lately, I have seen a lot of interest from the government towards the development of startups in the country. While there are incubator support in cities such as Hyderabad and Bangalore, in Calcutta it was yet to happen in a major way. With IAN joining hands with us, our aim is to create and offer a platform for the startups which not only encourages and promotes innovation but also give them the necessary hand-holding to grow,” said Harshavardhan Neotia, Chairman Ambuja Neotia.

The strategic partnership will bring in the power of IAN’s network of highly successful and experienced entrepreneurs who are keen to mentor young startups with their domain expertise and experience in alignment with Neotec Hub’s One Year Incubation Program –which includes access to their existing businesses, Mentorship, Funding, Space and Infrastructure which will be made to available to the maximum number of Startups.

Earlier in August 2017, IAN has announced the signing of a MoU with Biotechnology Industry Research Assistance Council (BIRAC). This partnership brings the biotechnology startups closer to angel investors, who apart from money will provide invaluable mentoring and global market access. In June 2017, the firm has announced the launch of its operations in Israel.

Established in 2006 to foster entrepreneurship with a prime focus on nurturing and mentoring new generation entrepreneurs, IAN brought the concept of angel investment to India and has been instrumental in bringing India’s startup ecosystem on the global map. With investors from 10 countries, IAN’s presence spans 7 locations, which includes cities in India and UK. The network is sector agnostic and has funded startups across 17 sectors in India and 6 other countries growing global footprint companies.Some of its marquee investee companies include WebEngage (6x in 15 months of investment), Druva (289x over 7 years), Box8 (~3x over 4 years), Consure (10x over 40 months) amongst many others.  Most mainstream Indian VCs (like Sequoia, Nexus, Matrix Partners, Tenaya, IDG, Kalaari, USF, Accel, Inventus) have done a follow on round in IAN’s portfolio companies or co-invested with it.

Some of its marquee investee companies include WebEngage (6x in 15 months of investment), Druva (289x over 7 years), Box8 (~3x over 4 years), Consure (10x over 40 months) amongst many others.  Most mainstream Indian VCs (like Sequoia, Nexus, Matrix Partners, Tenaya, IDG, Kalaari, USF, Accel, Inventus) have done a follow on round in IAN’s portfolio companies or co-invested with it.

Founded By IITians This EdTech Startup Is Byju, Toppr and Meritnation Combined At One Place

There was a time when students used to mug up their syllabus and this despite of memorizing the course they tend to score less marks. Kolkata-based MindHour has found out the solution for this problem. The edtech company founded by a group of IITians ensures that students get high marks without burden. Powered by 5 lakhs plus registered users, present across more than 2000 schools in 92 cities with 30 offices has been designed to cater to the learning needs of students of classes 6 -10 for CBSE and ICSE boards in a most simplified and gamified way. They provide experiential, conceptualized learning videos for each chapter that enables child with better concept clarity and fast memorization, which are more attention grabbing than conventional tuition.

MindHour allows students to learn at their own pace with the help of Adaptive Practice exercises. Our in-depth analysis reports identify the exact weak areas of the child and convert them into strengths. Based on the specific weakness identified in the reports, special personalized worksheets are prepared for better performance,” says Sumit Marda, Co-founder & CEO, MindHour.

It’s a self-motivating platform designed through various gamification elements. It provides revision notes on every chapter with unlimited talk-to-teacher facility.

Meet the Team

MindHour was founded in April 2014 by Sumit Marda, Varun Choudhary, Somya Agarwal and Swati Maheshwari.

Before founding MindHour, Sumit Marda had founded MOOZ, a pulp based fruit drink for rural India; Varun Choudhary, an IIT-Roorkee alumni co-founded SuenoTrip whereas Swati Maheshwari co-founded TechonIndia Infoservice.

Somya Agarwal who currently plays the role of CCO used to work with Siebel Consultant, Infosys before joining the founding team.

Opportunity

MindHour claims to be the only edtech company in India which provides all the three modes of providing study materials to students- Online Classes, MindHour Study Tabs, MindHour Tuition Classes. The company claims that their this quality help they to stay ahead of their competition.

Competing with companies like Byjus, Meritnation, Cuemath, Vedantu and Toppr, MindHour need to keep innovating its services.

At its core, MindHour is a venture that aims at revolutionising the Indian education system through modern teaching methods. It is tapping into the emerging nerves of technology by introducing this technology to children.

Kolkata Based Wow! Momo Raises Rs 44 Cr Funding from Lighthouse Funds and IAN

Kolkata based Wow! Momo, which is touted as India’s first and largest chain of branded Momos, raises Rs. 44 Crores as Series B funding from Lighthouse Funds and Indian Angel Network at a 230 Cr Valuation. The fund raised also provides a highly profitable exit to some IAN investors (whosoever elected to sell their earlier investment) with an IRR of nearly 50% in less than 18 months.

The deal has been led by Lighthouse Funds, which largely focuses on mid-market consumer driven businesses. IAN, the world’s largest angel network exercised their pre-emptive right in this round. Mr. Sanjeev Bhikchandani, founder of Naukri.com, has been the lead Investor in Wow! Momo on behalf of IAN since the earlier round in 2015.

Talking about the current investment, Lead Investor Sanjeev Bhikchandani commented, “The team at Wow! Momo has executed very well. They have sustained positive cash flows in geographies where they have achieved economies of scale. The breadth of innovations around momos is commendable. They have built a strong brand through word-of-mouth and without spending marketing/advertising dollars. This company is now going National and might possibly even go overseas.At IAN, we recognize the market potential, talent, and the urge to disrupt the ecosystem, which is evident in Sagar, Binod, Miftaur, and their venture.”

Lighthouse Funds has been empowering passionate entrepreneurs for a decade and provides long-term patient capital coupled with active, supportive guidance and mentoring. The fund has invested in brands like Fabindia, Cera Sanitaryware, Xseed Education, Bikaji Foods, Kama Ayurveda to name a few. Speaking on Wow! Momo, Sachin Bhartiya, Partner at Lighthouse Funds commented, "We believe Wow Momo presents a great opportunity to participate in the fast-growing Indian food services space which is witnessing strong demand-side tailwinds. We saw an amazing drive in the founding team, wanting to dream, dare and scale and above all, care for society, which matched the ethos of Lighthouse. Wow Momo has been successful in building an agile and profitable model, all while delivering consistency in quality, taste and service. This is the reason Wow Momo has demonstrated phenomenal growth and earned a fan following in such a short span. We are excited to back Sagar, Binod and Miftaur and help achieve our collective vision for Wow Momo.”

Wow! Momo was also successful in providing a highly profitable exit to some of the IAN Investors who decided to sell their shares partly/completely to Lighthouse at a return of 106 % on their Initial Investment in a period of less than 18 months as part of a secondary deal in the current transaction. KPMG was the Investment Banker advising the company in the above transaction. The financial vendor due diligence was undertaken by Delloite and Khaitan & Co was the legal advisor to the company.

Saurabh Srivastava, Co-Founder, IAN who participated in the earlier round commented, “At IAN, we have had a very fortunate 2017 so far. Year-on-year, we have had exits in our companies and our investors have been able to get cash exits over the last three years continuously. With Wow! Momo, our investors are getting an IRR of nearly 50%. We are really impressed by Wow! Momos fast growth and customer retention rates in such a short period of time. Their success is in line with our vision to identify, mentor and support the next big innovators of our country who have the potential to survive in the competitive startup ecosystem.”

Started with an Initial Investment of Rs.30,000 with just one Kiosk in Kolkata, Wow! Momo is a young & vibrant Startup, devised by two enthusiastic entrepreneurs at the age of 21. Two best friends, Sagar Daryani & Binod Homagai, conceived this idea of turning the regular “momo” into a diversified product category with versions appealing to every taste and had an operational start up even before their exam results were announced. The two young guns were joined by their college mate, Shah Miftaur Rahman, Ex PWC as a third co-founder in 2015 & are currently clocking a turnover of over 5.5 crores a month, recruiting over 1100 employees which proves the success of their creativity and business acumen.They have literally played with momos ploughing back its profits to grow into a restaurant chain of over 115 outlets spread across 8 cities.

An excited Sagar Daryani, Co-Founder & CEO at Wow! Momo commented,“Our mission is to make Wow! Momo the food of all times & creating a niche market for the Masses. We want to be India’s version of Mc Donalds& grow globally and become one of the World's fastest growing QSR Chains, thereby creating employment & adding value to the economy & society as a whole.Funds raised in the current round will be used for Expansion & building of back-end infrastructure for the brand. I am extremely thankful to my Investors for believing in us. They have & continue to be an integral part of our successful journey going forward. r. Our Wow! Story has just begun I believe.”

The brand has a long term goal of doing an IPO (initial Public Offering) by around six to seven years from now. The Team feels a 1000 Wow! Momo stores PAN India in the near future is a definite possibility.

Their Menu caters to 12 different flavours of momos available in Steamed, Fried & Pan Fried formats largely in white & brown flour variants. They have smartly Innovated & Invented to create Sizzler Momos, MoBurg (Momo Burgers), Tandoori Momos, & a Baked Momo Au'gratin to their credit. To top it all, even their dessert is a 'Chocolate momo & last week they launched the all new 'Mango Momo' as a seasonal special. The format operates out of Kiosks, Food Court Quick Service Outlets, Shop – in Shop Models, and High Street Quick Service Restaurants. The stores are largely Company owned & Company Operated.

Kolkata based Rupeevest is Offering Self-Help Investment Platform for Maximum Profitability

A penny saved is a penny earned, but a penny just sitting in the bank for months is almost equivalent to probably the worst thing you can do to your hard-earned money. While ignorance is considered bliss is some cases, but when it comes to investments, not having a proper knowledge about where to invest and when to invest can cost you your future. If you're one of those who don't even know the I of investments, there are plenty of websites nowadays where such information is provided and explained the best way possible to a layman. One such startup that is trying to provide every Indian a safe and hassle-free investment experience, is a Kolkata-based startup called Rupeevest.

An online investment and research platform for Mutual Funds and Corporate FDs, Rupeevest leverages the power of smart technology and in-depth research to provide its users a fruitful investment experience. It provides it users with the following services:

• Invest Anytime You Want – Once the initial one-time paperwork is complete, a Rupeevest user can make smooth, hassle-free investments with just a click of a button.




• Have Data at your fingertips – The platform's unique Mutual Funds Screener helps its users to scan the all mutual funds under the sun and then choose the ones that best suit their investment goals and risk appetite.




• Wealth Creation – The platform uses its proprietary rating methodology which has a proven historical performance track record, to help investors select the funds that boost of a higher probability of out-performance.




• Zero Fees – Rupeevest doesn't charge its customers any commission or fee for their service. They have joined hands with almost all major AMCs which give them a small percent for the business that they generate with them.



• Safe and Secure – Since it is a matter of people's hard-earned money, Rupeevest makes use of NSE NMF II transaction platform by National Stock Exchange of India which ensures state of the art technology for transactions and security.

Though the startup has several competitors in the sector like MyUniverse, FundsIndia, Value Research and Morningstar etc., but what makes Rupeevest different from others is its unique rating methodology and Mutual Funds Screener.

While a majority of mutual fund rating agencies and websites have primarily used only historical performance as their rating criteria. However, it has been seen that they are of little help to the investors as there is no recent documented history or track record of their top rated funds’ performance. Hence, RupeeVest came up with a unique Fund rating methodology that makes use of various data mining tools and advanced mathematics to help investors’ spot funds with the highest probability of outperformance. A historical track record is available on the Rupeevest website.

The startup has also put in a huge amount of research to understand the various features and data points which the investors need while making an investment and selecting a fund. Its Mutual Funds Screener provides all the relevant data of a mutual fund in an easily comprehendible and visually efficient manner in an effort to make it a world-class investment and research experience.

The unfunded startup, which currently boosts of having 300 active clients with a client Assets Under Management (AUM) of around Rs 40 crores, was co-founded by three strong individuals, Varun Mundra (CEO and CTO), Mitul Daga (Investment Research), and Mayank Mundra (COO).

All of the three co-founders belong to top institutes of India, with Varun and Mayank graduating from one of India's premier technological institute, IIT Kharagpur, in different years. Mitul is a Commerce graduate with an MBA in Finance. Together the three bring onboard diverse experiences and problem solving skills needed to address the grey areas surrounding the mutual fund investment industry today.

The 2014 startup has 500 registered till date and has seen its AUM grow by 200 per cent from 2015. It plans to add PMS and Bonds / NCDs offerings to its existing product portfolio, develop an equity research platform, and offer its users various equity data services (both fundamental and technical) in the near future.

Website - https://www.rupeevest.com

Kolkata-based Femiza is Women-Led E-Store Exclusively for Women

Women-focused businesses started by women innovators are dazzling and changing the way of thinking about womanliness. They are becoming the sign of women empowerment and gender equality. Three women Shabnam Banu, Amirun Nisha, Sumita Sinha from Kolkata came together to make a difference in artificial jewellery and accessories segment and has launched Femiza, an online store that focuses completely on women buyers. They have launched this website in 24th July 2016 and now selling jewellery and bags in Kolkata and other near cities like Mumbai from an inventory shop. Founder Shabnam Banu shares, “We are planning to extend into a marketplace and our model will be very different from all other existing conventional marketplaces. We aim to target small sellers especially homepreneurs and traditional sellers who are deprived from conventional marketplaces due to the involved complexities in product uploading and legal formalities. On the other hand, this will give buyers a chance to buy a product from a wide variety of options all along a good value for their money.”

Making Online Roads Easy For Homepreneurs

There are many problems that homepreneurs face when they want to become online seller with any big marketplace. Shabnam says, “Big players like Flipkart, shopclues, snapdeal etc. restrict homepreneurs by mandating VAT and other legal documentation as individuals and small companies with less than 5lacs turnover do not need VAT registration and generally not aware about legal documentation. In addition, interface provided by most of the marketplaces is cumbersome and difficult to understand. Uploading products one by one or dealing with complex excel sheets are tough tasks for busy non-tech sellers. We will provide the sellers all those tools with which they are most comfortable with and mostly use for their business.” Femiza app, which is yet to be launched, can manage registration and stock easily.  In addition, it will also provide whatsapp as a medium of product uploading to the Individual Sellers/Homemakers/Wholesalers soon.

Analysis of Current Business

Shabnam confirms, “We have sold items worth Rs 20,000 even before launching our shop. We have got these orders through our facebook page and other online social platforms.” She is satisfied with the performance and the market response. She adds, “We already have an in-house PIM (Product Information Management) portal built with php and angular JS. Using this portal we can dump items in bulk and upload on our website. This portal is also very helpful in maintaining all product information.” ‘Delhivery’ and ‘Payu Biz’ are Femiza’s logistic and Payment Gateway partners respectively. In addition, it already has 20 sellers on-board who are sending their products through whatsapp everyday. It has also started the process of developing the automatic upload of product catalogs and description sent on whatspp by our sellers.

Getting Ready For Stiff Competition

According to Shabnam, the online players like Mirraw, Craftsvilla and Voyella will give stiff competition to Femiza in the future. Do they have any plan to compete with these players? She replies, “To make a difference is very important to position Femiza well in the market. A good framework, our product range and services will help us to compete with the market competition.”

Founders Credentials

The ecommerce startup has three co-founders --Shabnam Banu, Amirun Nisha and Sumita Sinha. Shabnam Banu, co-founder, Femiza has completed B.Tech from Jadavpur University. She worked with different companies and carries a wide experience in software development. On the other hand, Amirun Nisha is an M.C.A; and pro in digital marketing and SEO. The third pillar is Sumita Sinha, a Political Science (Hons) degree from Calcutta University. She is looking after the business operations and development areas.

[Top Image - Shutterstock]

Kolkata Ed-Tech Startup Arch Is A Safer Networking Of Teachers, Students & Parents

The primitive years of a child are the foundation of what he/she will grow up to become in future. These are the years when they need extra attention, guidance and care to grow up to become a successful individual. In order to help parents and teachers achieve this for their children and students respectively, a Kolkata based startup has developed an app called Arch-The Way.

Arch is a safe and free way for teachers to connect with their students & parents on their smartphones. Not only will the teachers be able to maintain a constant contact with the students and their parents but they will also be able to share files and broadcasts messages to the entire class. Further, the students, teachers and parents will also be able to share feedbacks privately with each other.

With Arch, Teachers can broadcast messages & files to the entire class or receive feedback from the student parents privately. Some of the other feature of Arch are:

• Messaging: Teachers can send messages like major class updates homework reminder, exam updates, emergency messages etc to their students or parents. They can also send messages to individual Student/Parent for sensitive issues like fees reminders or complains.




• Files: Teachers have ability to send Images, audios, video, along with Ppt, Doc & Pdf up to 100 mb. This makes sharing study resources very easy for them.




• Future Scheduling: Teachers can plan their week ahead. All future updates will be sent automatically as scheduled.




• Feedback: Teachers can receive feedback privately from the students & parents & respond to them, if necessary, at their convenience

The app is based on the principle of simplicity, safety & privacy. Therefore in keeping line with this principle, parents/students and teachers aren't required to exchange phone numbers in order to connect on the app. Every teacher is assigned an unique class code to which the student/parents can subscribe via the app.

The app which is available on Android, Windows & iOS helps teachers to send major message updates regarding some important project work, assignments, class tests or emergency messages like extension of holidays and rescheduling of a major school event etc.

Arch-the way is a product of hard labour of Rudresh Chowdhary, Nikhil Bajoria, Soumya Malani, Abinash Biswal & Nitesh Agarwal. The comfortably bootstrapped startup isn't looking to raise funds for now as currently they just want to stay completely focused on their product.

"We cater to the problem of communication between teachers and their students or parents. There is a disconnect between them due to limited time and communication. We are trying to bridge the 'Gap' and increase the engagement. Our 'Feedback' feature actually helps an Educator to grow," said Rudresh Chowdhary, Arch.