Alternative credit provider BlackSoil Capital on Monday announced that it has invested nearly $4.3 million (Rs 40 crore) in Indifi. In separate developments, Bacancy Systems Private Limited has raised $4.3 million (Rs 40 crore) in its Series A funding round, while Cropcoin (Pehle Jaisa) has raised Rs 12 crore in its pre-Series A round.
BlackSoil invests in Indifi
Alternative credit provider BlackSoil Capital on Monday announced that it has invested nearly $4.3 million (Rs 40 crore) in Indifi, a technology-driven digital lending platform focused on small and medium enterprises (SMEs).
The fresh capital from BlackSoil will help strengthen the platform’s lending capabilities and support its growth as demand for alternative credit solutions continues to rise, said a joint press statement.
Indifi, founded in 2015, leverages data and technology to assess creditworthiness and deliver customised financing to MSMEs across sectors such as travel, hospitality, e-commerce, retail, and restaurants – segments that have traditionally faced limited access to formal credit.
The company has disbursed over 150,000 loans across 400+ cities, partnering with more than 80 active lending institutions. The company posted revenues of Rs 378 crore in FY25, reflecting a 22% year-on-year growth.
Sabre Partners, Greenstone co-lead funding in Bacancy Systems
Bacancy Systems Private Limited, a Gujarat-headquartered embedded electronics and power systems company, on Monday announced that it has raised $4.3 million (Rs 40 crore) in its Series A funding round led by Sabre Partners and Greenstone Capital. Both investors have acquired minority stakes in the company through primary investments.
The capital infusion will support Bacancy’s next phase of growth, with a focus on scaling its manufacturing capabilities, accelerating product development, strengthening research and development (R&D), and expanding into international markets.
Founded in 2021 by Binal Patel, along with Krunal Patel (COO) and Hardik Sheth (CTO), Bacancy works across hardware, firmware, and cloud technologies. The company focuses on power electronics and control systems, and has developed products for EV OEMs and charging infrastructure providers, including DC charger controllers and related systems.
Beyond EVs, Bacancy is expanding into railway electronics, developing TCMS solutions, control systems for traction and auxiliary converters, TRDP-based modules, PA/PIS systems, and remote monitoring platforms.
Unicorn India Ventures backs Cropcoin
Agritech startup Cropcoin (Pehle Jaisa) has raised Rs 12 crore in a pre-Series A round led by Unicorn India Ventures. The round also saw participation from Climate Angels.
The company will use the funds for geographical expansion, for scaling operations from 10 districts to the entire 66 districts of Bihar and Jharkhand. They will also be directed towards product development to enhance R&D for bio-category products to improve soil health and reduce chemical usage, along with building infrastructure to reach a Rs 100 crore ARR in the next 24 months, the company said in a statement.
Founded in 2022 by entrepreneurs Pankaj Pandey and Ehtesham Farooqui, Cropcoin (Pehle Jaisa) is an agritech startup focused on addressing agricultural waste and soil health issues. Over the past 12 months, Cropcoin has tripled its revenue and expanded its farmer network from 20,000 to 70,000 across Bihar, Jharkhand, and Manipur.
