Matra Mobili Pvt Ltd, which operates furniture and home décor brand Sunday Design, announced on Tuesday that it has raised $1.5 million (about Rs 11.25 crore) in its pre-funding round. – series A of QRG Investment and Holdings (family office of founders Havells), Kama Group (family office of SRF), KCT family office and other existing investors.
The Delhi-based startup plans to roll out the new revenue to expand its online and offline presence. It also plans to launch an e-commerce store to increase its market share across the country and in new segments.
Founded by Gautam Baid and Vinit Agarwal last year, Sunday Design offers contemporary products made in India, but designed by international designers.
“During the pandemic, we have noticed a change in people’s attitude towards interior design. They want to invest more in their living spaces. With this new investment, we intend to collaborate with European designers and expand our footprint in an omnichannel format, introducing new product lines on a strategic basis,” said Gautam Baid, Founder and Managing Director of Sunday Design.
“We believe in partnering with brands that are sustainable and have growth potential. The furniture and home decor industry is poised for significant growth in India,” said Anil Rai Gupta, Chairman of QRG Investments and Holdings.
QRG Investments has made over 14 investments and usually invests between Rs 5 and 50 crore in its businesses.
Bengaluru-based healthcare startup Yostra Labs Pvt. Ltd, said on Tuesday it had secured seed funding of Rs 4 crore ($500,000) led by Indian Angel Network, with participation from investors including Impact Innovators and Entrepreneurs Foundation and Center for Cellular and Molecular Platforms.
The platform plans to use the new funds to increase its sales and marketing staff, expand its market footprint and increase production.
Founded by Vinayak Nandalike, Mohan Rao, Sanjay Sharma and Maruthy in 2014, Yostra Labs is a medical device company with a portfolio of patented products for the diagnosis and management of peripheral neuropathy and its complications such as foot ulcers. The startup claims to have screened more than 40,000 patients in clinics, private and public hospitals and diagnostic centers in India.
“Yostra has developed innovations for the diagnosis and treatment of diabetic foot complications. With IAN’s investment, we plan to expand our operations and expand our market reach,” said Vinayak Nandalike, Founder of Yostra Labs.
“Yostra has a portfolio of patented products focused on diabetic neuropathy that can prevent complications in diabetic patients. This investment from IAN and co-investors will help. The investment will accelerate Yostra’s expansion globally,” Indian Angel Network’s Venkataraman KNK said.
The Indian Angel Network, founded in 2006, is a leading investor in the Indian startup ecosystem. With investors from 12 countries, the network is spread across seven locations, including cities in India and the UK.
Luxembourg and Bengaluru-based agri-insurtech platform Ibisa (inclusive blockchain insurance using space-based assets) has raised seed capital in an undisclosed amount from early-stage investor Ankur Capital.
The startup plans to use the new funds to expand its operations across India.
Founded by Annette Houtekamer, Jean-Baptiste Pleynet and Maria Mateo Iborra in 2019, IBISA offers microinsurance solutions for small, low-income farmers. In the case of IBISA, these are small farmers whose livelihoods could be affected by adverse climatic events, which are unfortunately on the increase.
The startup claims to be in talks with major lenders, food processors and agritech customers to mitigate their credit risk in the event of default, reduce their supply chain risks and increase their sustainability practices in agriculture and strengthen farmer linkages with smallholder farmers in India and abroad.
“With Ibisa, we sought to create technology that would help reduce costs for those active in the field of insurance. Find a way to responsibly protect farmers in the event of extreme weather conditions, by significantly reducing distribution and operating costs, which makes it affordable for many groups in the value chain,” said Maria Mateo Iborra, co-founder and CEO of IBISA.
“Unavailability of data has hampered the growth of the agricultural insurance industry in developing countries for decades. Legacy crop insurance involved time-consuming manual processes, making them impractical for developing markets where small-scale farming is the norm, and parametric insurance has historically been unviable due to lack of detailed climate datasets,” said Ritu Verma, Partner at Ankur Capital.
Ankur Capital was established in 2014 by Rema Subramanian and Ritu Verma. His first fund had invested in 14 companies including Cropin, Niramai, Healthsutra, ERC and StringBio. The fund exited three companies in 2021. The venture capital firm has around 30 companies in its portfolio spread across two funds.