India Dealbook: AgroStar, Ethereal Machines, Docttocare, LetsVenture in funding news

Photo by Cezanne Ali on Unsplash

Indian startups continue to attract investor attention. Agri-tech startup AgroStar, healthcare platform Docttocare, and deep tech startup Ethereal Machines have secured funding. In another development, LetsVenture is set to launch a specialised healthcare investment programme to invest in health startups.

Rabo Frontier invests in AgroStar

Rabo Frontier Ventures (RFV) on Tuesday said it has invested in agri-tech startup AgroStar – that sells agricultural inputs and products to farmers. While RFV did not disclose the funding size, a VCCircle report said that it has invested $5 million. This second close of the recently announced series C investment, led by Bertelsmann, will bring the total capital raised by AgroStar to $27 million, RFV said in a statement. Along with RFV, Bertelsmann and its existing investors Accel, Chirate Ventures and Aavishkar Bharat Fund participated in the series C round.

Blume backs Ethereal Machines

Bengaluru-based deep tech startup Ethereal Machines has raised $1 million in a pre-Series A funding round led by Blume Ventures. The round also saw participation from Jitendra Gupta, Founder PayU; Grey Orange Robotics founders Samay Kohli and Akash Gupta; and Debashish Vanikar. The startup will use the funds to expand its sales and distribution network in domestic and international markets, add more machines to its portfolio of products, and also build relations with application partners.

Docttocare raises seed round

Bengaluru-based online healthcare service provider Docttocare has raised around Rs 4 crore in a seed funding round from mPower Solutions director Krishnakumar Devnally, it announced on Tuesday. The funds raised will be utilised to ramp up the product experience and increase the outreach to people seeking quality healthcare, the company said. Docttocare is also in the process of launching new services by collaborating extensively with hospitals.

LetsVenture to launch healthcare council

LetsVenture, an online funding platform for startups, is set to launch a specialised healthcare investment programme called Healthcare Council, The Economic Times reported. The council, which will target seed and pre-Series A funding, aims to invest Rs 3-5 crore each in about 15-20 startups over the next one year. Business specialists from hospitals, insurance coverage suppliers, pharma firms, angels and enterprise capitalists can be part of the programme.