BuyNxt
Sector Enterprise Tech Website www.buynxt.in Location New Delhi Stage Early
Author: VG Admin
Maxvolt Fund Raise
Venture Garage Mentored Innovator, Maxvolt Energy incubated in 2019, Secures $1.5mn Funding in Latest Private Placement Round, with an eye on an SME-IPO within FY 24-25 31st May 2024: Noida-based EV battery manufacturing startup Maxvolt Energy has successfully secured $1.5 million in a Private Placement …
Centriti Raises Pre-Series A
VG Angels participates in INR 6cr Pre-Series A Investment Round of Centriti
New Delhi, May 23, 2024 – Venture Garage’s portfolio startup Centriti, has successfully secured INR 6Cr in its Pre-Series A round of funding from EV2 Ventures, Brigade Family Office, VG-Angels, and some other angel investors. This investment includes contributions from VG’s partner Pawan Raj Kumar, who leads the investments at VG-Angels has also been a mentor to the startup for the past years. With a target to disentangle the supply chain network, Centriti provides an end-to-end e-procurement solution for the HoReCa (Hotels, Restaurants and Catering) sector, managing inventory, quality, storage and pricing for the hotels.
Founded in 2022, by Daljeet Singh and Ashwath Ram, Centriti has achieved remarkable traction within just 20 months of its inception, boasting a prestigious clientele that includes Leela, Taj, Oberoi, Marriott, ITC, Shangri-La among others, by providing a comprehensive B2B SaaS e-procurement platform, empowered by AI-driven integrated inventory software.
“This investment is a testament to the hard work and dedication of our team, and it will enable us to revolutionize the procurement systems in the hospitality industry by providing innovative solutions to streamline processes and enhance efficiency. Within a short span of two years we have been able to create a significant impact in the geographies we are present in, with this support, we are poised to deliver unparalleled value to our partners and customers.”
-Daljeet Singh, Founder & CEO at Centriti
“Being deeply engaged in the tech landscape, I’ve observed the rapid advancements within the supply chain sector, and Centriti is at the forefront of this transformation. Supply chain innovations are crucial for enhancing efficiency, reducing costs, and increasing resilience across various industries. Looking ahead, the Indian supply chain market is poised for significant growth, with projections indicating it will expand from $2.3 billion in 2022 to $12 billion by 2030. This growth trajectory underscores the critical role companies like Centriti will play in revolutionizing India’s supply chain landscape, driving efficiency, and fostering economic growth.”
–Pawan Raj Kumar, Partner at Venture Garage
Centriti would use the funds primarily to expand its warehouses from 3 to 7 locations, with the main focus on expanding to 2,000 SKUs; including non-food and F&B essentials. Additionally, these funds will be invested in technology to leverage operational efficiencies.
Read more about Centriti here: https://venturegarage.in//centriti/
Bharat Rohan Raises Funds
Venture Garage in their endeavor to take their profitable portfolio companies to an IPO, helps BharatRohan in securing $2 million+ in a private placement round with an eye on an SME-IPO withing FY24-25
09th May 2024: Gurugram-based agritech startup BharatRohan, specializing in drone-based hyperspectral remote sensing, has successfully secured $2.3 million in a pre-IPO round of funding from investors. This investment includes contributions from Villgro Innovation Foundation, Caspian, RevX, and Venture Garage, with participation from a group of ultra-high net-worth individuals. The financing comprises a combination of debt and equity financing.
Founded in 2016 by Rishabh Choudhary and Amandeep Panwar, BharatRohan currently claims to be working with 50,000 farmers across five states, spanning 2 Lakh acres, with its drone-based decision support system (DSS) called BharatRohan CropAssure.
“I’m thrilled to announce BharatRohan’s ambitious plans for expansion. By 2025, we aim to extend our operations and offerings to encompass 15 Indian states, covering a sprawling 10 lakh acres. Our relentless dedication to innovation and excellence has yielded remarkable results, with our revenue tripling and profits soaring by 200% compared to the previous financial year. This growth not only reflects our commitment to success but also underscores our unwavering focus on delivering value to our stakeholders. We’re excited about the journey ahead and the opportunities that lie in store for BharatRohan,”
–Amandeep Panwar, Co-Founder & CEO at BharatRohan
“As someone immersed in the tech landscape, I’ve witnessed the rapid growth of India’s drone sector. Drones are poised to transform industries like manufacturing, agriculture, and defense. Over the past decade, we’ve seen a surge in Indian startups entering this space to meet growing demand. Looking ahead, the outlook for the Indian drone market is impressive. Projections suggest it will soar from $2.71 billion in 2022 to $13 billion by 2030. This underscores the pivotal role drones will play in shaping India’s industrial future.“
-Vivek Kumar, Co-founder & CEO of Venture Garage
BharatRohan would use the funds to primarily focus on developing proprietary edge computing drones specifically for precision farming, crop monitoring and pesticide applications. These drones will be made available to rural entrepreneurs through franchise-based models. Additionally, they plan to design and develop compact hyperspectral & multispectral sensors for drones.
To know more about Bharat Rohan: click here
Garuda
Sector Drone Manufacuring | Defence Website www.garudaaerospace.com Location Noida Stage Growth
Metafin raises Funds
Venture Garage advises Metafin in securing $5 Million raise from Prime Venture Partners & Varanium Capital
12 February 2024, Gurugram: Metafin, a clean tech-focused non-banking finance company (NBFC), has successfully secured $5 million in a recent funding round. Prime Venture Partners and Varanium Capital led the investment, Venture Garage was the financial advisor to Metafin in this transaction.
Founded in 2019 by Sandeep Chopra and Aditya Shah, Metafin is serving the needs of over 5 million MSMEs with 1 – 150KW solar rooftop installation and financing projects, leveraging its extensive network of lending and installer partners to power financial inclusion and energy access till the last remote villages of India. Metafin’s unique project led financing approach has a three fold impact on communities with sustainable solutions that positively impact the environment, energy infrastructure and financial inclusion of semi-urban and rural communities.
“With every plant that we enable, we help to meet the goals of access to energy, financial inclusion, increase in livelihood and reversal of climate change. Today we are financing around 1000 projects, but we want to do 1 million such projects in the next five to seven years in India,”
-Sandeep Chopra, Founder and CEO of Metafin
Metafin has enabled almost 1,000 installations in UP & Bihar (14+ MWs) of which 90% are off-grid, replacing diesel directly. These installations have helped avoid 147 million Kgs of CO2 to date. This success showcases the effectiveness of Metafin’s scalable, 360-degree approach to cleantech financing, focusing on understanding the end borrower, the solar asset, underwriting and collections.
“Access to credit is undeniably pivotal in driving the widespread adoption of renewable energy solutions, and Metafin’s pioneering efforts in this realm are truly inspiring. It speaks volumes about the impact Metafin is poised to make in advancing sustainable practices globally.“
-Vineet Sagar, Managing Partner of Venture Garage
India has set a 280GW target for solar adoption by 2030, and Metafin plays a pivotal role in achieving this goal by facilitating retail-scale solar projects. By providing tailored financing solutions and ensuring the quality and reliability of each solar project, Metafin contributes to sustainable energy adoption and aligns with India’s mission on decarbonization. The company is actively engaging with banks and other financing partners to collaborate on lending to this segment, with each loan providing ESG impact at multiple levels while delivering attractive returns on secured assets.
“Rural solar is undeniably a game-changer, capitalizing on the compelling cost advantage over over conventional power sources. Metafin is at the forefront of financing rooftop solar installation, ushering in a new era of sustainable energy in rural India. The triple benefits are profound – not only curbing carbon emissions but also yielding significant cost savings for small businesses while reducing dependency on diesel generators, a pivotal step in cutting fuel imports. The fact that these loans are in RBI’s PSL mandate is an added benefit. The potential for growth is immense, aligning with Varanium Capital’s commitment to catalyzing impactful ventures.”
– Aparajit Bhandarkar, Partner at Varanium Capital.
Metafin’s growth has been powered by backing of a network of investors and partners including IFC, 9Unicorns, Unitus Capital, Harvard i-Labs, Venture Catalysts, VG Angels and Smart Power India.
To know more about Metafin: click here
Shark Tank
Venture Garage makes splash in Shark Tank: Given First Exit & First Guest Shark from its Portfolio Venture Garage makes a significant impact on Shark Tank, achieving a milestone with its first guest shark and Shark Tank’s inaugural exit both from its portfolio. The standout …