Action seems to be hotting up in the burgeoning startup ecosystem in India. While skincare products venture Dr Sheth’s and online footwear brand Rapawalk raised funding from angel investors, FreshoKartz, an e-commerce platform, has raised an undisclosed amount in seed funding.
Mumbai Angels back Dr Sheth’s
The Mumbai Angels Network has led a funding round of Rs 4 crore for skincare products company Dr Sheth’s, per an announcement. Of the total investment, Rs 3 crore was contributed by Mumbai Angels, while the remaining amount came from other investors.
Founded in 2016, Dr. Sheth’s offers a range of personal care products such as sunscreens, brightening cleansers, antioxidant moisturizers and toners, masks, eye creams and peels.
The Mumbai-based company will be using the funds to scale its operations, build brand awareness, develop a new product line and launch its offerings in international markets.
Rapawalk raises angel round
Online footwear brand Rapawalk has secured Rs 2.4 crore ($350,000) in an angel round of funding from a clutch of wealthy individuals, per a company statement.
The investors include Raveen Sastry, co-founder of Myntra; Sanjay Ramakrishnan, former marketing chief at Myntra; and Ravi Garikipati, former chief technology officer at Flipkart, among others.
Rapawalk will use the funding proceeds to hire experienced professionals, besides strengthening its business.
FreshoKartz gets seed funding
The funding was raised from Chennai-based investor Sunil Kumar Singhvi, along with a group of angel investors and high net-worth individuals, the report added.
The startup plans to use the capital to expand its operations in new markets. It is also looking to raise a pre-Series A round in the next few months.