India Dealbook: FYRE, TagBox, Bharati Robotics, Locus raise funding

Functional beverage maker FYRE has raised $500k from Venture Catalysts, while cold chain monitoring startup TagBox has secured angel funding. Bharati Robotics has secured funding from existing investors and Recruit Holdings Co Ltd has invested in logistics management firm Locus.

Functional beverage maker FYRE raises funding from Venture Catalysts

Venture Catalysts, an angel investment platform, has invested $500,000 in FYRE, a herbal energy drink maker, according to a statement.

The seed round was backed by Apurva Parekh, director at Pidilite Industries; Anupam Mittal, founder of Shaadi.com; Vikash Agarwal and Manish Agarwal, founders of the Nandan Group; Romil Ratra, co-founder of Bellona Hospitality; Kunal Kishore, founder of Value 360 Communications; Akshay Bardia, director, AT Plus; and Karim Jaffer, MD of Gossip Shoes, among others.

FYRE was founded by Rahul Manek, ex-partner of Fairwinds Private Equity, and will be launched by the end of this year. It will use the money to ramp up operations, expanding sales and marketing team and enhancing its distribution network.

IAN backs cold chain management firm TagBox

TagBox, a cold chain monitoring company based out of Bangalore, has received an undisclosed amount in angel funding from the Indian Angel Network (IAN) and its IAN Fund.

Naveen Gupta and Dinesh Goel led the round on behalf of IAN, the company said in a statement.

TagBox plans to use the funding for product development, filing patents and global certifications for its entire tech stack.

The startup was founded by Adarsh Kumar, Saumitra Singh and Sameer Singh in 2016. It offers cold chain solutions to pharmaceutical firms, packaged goods industry, dairy companies, retail stores, hospitals, and restaurants.

Bharati Robotics secures funding from existing investors

Pune-based Bharati Robotics Systems has secured an undisclosed amount of funding from existing investor Society For Innovation and Entrepreneurship (SINE, IITB Incubator), and other angel investors.

The proceeds from the latest round will be used to expand the firm’s manufacturing capacity and technology applicability, according to a press statement.

Bharati Robotics was founded by Debashis Das in 2015. The company manufactures cleaning and material handling equipment.

“We believe adoption of robotics will not only increase efficiency across processes in industries but will be restructuring the markets and sectors, and will eventually make the economy more robust creating more quality and well-paying jobs,” said Das.

Logictics management startup Locus gets funding from Recruit Holdings

Logistics management platform Locus has raised an undisclosed amount of funding from Japan-based diversified consumer and business services provider Recruit Holdings Co Ltd.

The investment was done through Recruit Holdings’ wholly-owned investment subsidiary RSP India Fund, LLC, according to a statement.

The pre-Series B round also saw participation from existing investors Exfinity Venture Partners, Blume Ventures and BEENEXT.

Last year in May, Locus raised $2.75 million in Series A funding led by Exfinity Venture Partners and joined by Blume, BEENEXT and Rajesh Ranavat, managing director, Fung Capital.

Founded in 2015, Locus offers technology to companies to manage their deliveries, with features including automated smart dispatches, tracking and fleet visualization.

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