India Dealbook: IDG, Chiratae invest in Emotix; Azani bags funding from Fireside, Redwood

Photo by Alexander Redl on Unsplash

Indian startup ecosystem continues to be abuzz with funding activity. Robotics startup Emotix has raised Rs 18.58 crore ($2.7 million) in a seed funding round, while Azani Sports has raised Rs 7.5 crore from Redwood Trust and Fireside Ventures.

IDG Ventures, Chiratae invest in Emotix

Mumbai-based robotics startup Emotix has raised Rs 18.58 crore (about $2.7 million) in a seed funding round from IDG Ventures India Fund III LLC, Chiratae Trust, YourNest India VC Fund, and Technology Venture Fund.

According to the company’s filing with the Registrar of Companies (RoC) sourced by paper.vc, it has issued 2,794 Seed 1 compulsorily convertible preference shares to the investors.

Emotix had raised $2 million in a funding round led by IDG Ventures India and YourNest in April last year. Founded in 2014, the startup had earlier raised a seed round of funding from undisclosed investors.

Azani gets funding from Fireside, Redwood

Sports apparel startup Azani Sports, which is among the chosen eight for Sequoia India’s Surge accelerator programme, has raised Rs 7.5 crore in funding from Redwood Trust and Fireside Ventures, according to the company’s filings with RoC sourced by paper.vc.

Azani Sports previously also received Rs 1.38 crore from Surge and Sequoia’s general fund. In January, Fireside had invested an undisclosed sum in the Mumbai-based startup.

Founded by Indian squash champion Siddharth Suchde, Punith Kumar and Alfons Jose, Azani offers footwear, apparel and accessories for men, women and kids, which sells online and through select retail outlets.