Author: sushree

Mumbai-based quick fashion delivery startup KNOT has raised $5 million in a round led by 12 Flags, with participation from Kae Capital and Boundless Ventures.

The raise comes just three months after its $3 million pre-Series A round in July.
 
The new capital will be used to expand the 60-minute delivery network in Mumbai and additional cities. The company also plans to invest in micro-warehousing, routing systems, and last-mile logistics to manage rising order volumes.

KNOT is widening its brand catalogue by onboarding labels such as Jack and Jones, Vero Moda, Louis Philippe, Van Heusen, and Allen Solly.

KNOT was founded in 2025 by Archit Nanda and Rachit Bansal, graduates of IIT Bombay. The company offers 60-minute fashion delivery along with a try-at-home model aimed at Gen Z and millennial shoppers.

KNOT claims it now processes more than 350 daily orders, a three-times increase over the past three months. Its platform includes AI-based virtual try-on, doorstep trials, and instant returns.

Bengaluru-based pet healthcare startup Dr. Paws has raised ₹29.3 crore ($3.5 million) in a pre-Series A round led by Chiratae Ventures.

Other participants include Sauce.vc, Trifecta Capital, and Stride Ventures. This comes after its earlier ₹7.8 crore ($938K) seed round, bringing the startup’s total funding to approximately $4.9 million.

The latest capital will be deployed toward expanding its clinic presence in Bengaluru, where the company plans to add nine new locations by 2026, while preparing entries into Hyderabad and Pune.

Dr. Paws is also building at-home veterinary services and developing a private-label portfolio spanning treats, supplements, and pet food.

The startup was launched in 2024 by Udit Gadkary and Rakesh Santhapur, who previously worked together at Boston Consulting Group. Dr. Paws currently runs three 24×7 clinics across Bengaluru, with two more under construction.

Since its launch, the company reports completing over 30,000 appointments and conducting more than 800 surgeries. Clinics reportedly reach operating profitability within five months of opening.

Beyond medical care, Dr. Paws offers grooming services, retail sections, and membership plans, supported by a mobile app that enables users to manage bookings and track pet health. The company will also invest in technology upgrades to streamline workflows, training systems, and customer experience as it scales.

AI email client Faraday has raised $0.2 million in a pre-seed round led by AJVC earlier this year.

The startup has channelled the capital into hiring, office expansion, product development, and early go-to-market execution.

The funding supports Faraday’s plan to advance its AI-driven email platform, strengthen its internal teams, and prepare for broader rollout. The company is currently focused on expanding integrations and refining its core AI systems.

Faraday was founded as an AI-led email client built to streamline inbox management by offering a prompt-free, contextually intelligent experience. The platform supports all Gmail and Google-based accounts, with Outlook integration expected soon.

The product combines encrypted, consent-based email access with features such as semantic search, thread improvement, group summarization, and structured attachment handling. Faraday is available as a browser-based desktop client, with mobile apps under development.

The round aligns with AJVC’s ongoing early-stage activity, which recently included a ₹1.5 crore pre-seed investment in fashion-tech startup Iztri, along with past bets on Jaagruk Bharat, GaadiMech.com, Nuyug, and Mithila Foods.

NeoSapien, an AI-driven wearable startup, has raised $2 million (₹18 crore) in seed funding from Merak Ventures and a group of angel investors including Awais Ahmed, Anupam Mittal, Sameer Mehta, Namita Thapar, and Aprameya Radhakrishna.

This follows its earlier $92.4K round backed by Thapar and other investors. 
 
The new capital will support product development, market expansion efforts, and hiring across functions, according to the company.

Founded in 2024 by Dhananjay Yadav and Aryan Yadav, NeoSapien is building an AI-native wearable system designed around its flagship device, Neo 1. 

The pendant-style device captures daily conversations and converts them into structured information that can be accessed through its companion app. Neo 1 supports over 100 languages and operates as a personal AI assistant with persistent memory and real-time contextual understanding. 

The company is also developing NeoCore, an SDK that enables businesses to build applications on top of its intelligence layer, positioning the platform as a foundation for future AI-driven wearables across formats such as glasses, pendants, watches, and rings. 

NeoSapien has gained visibility through its appearance on Shark Tank India, where it secured ₹80 lakh from Namita Thapar, and through programs such as Google AI Academy and Panasonic Ignition.  

The Bengaluru-based startup focuses on privacy-first data handling, with encrypted storage and user-controlled access built into its system. 

Merak Ventures, led by Manu Rikhye and Sheetal Bahl, invests in early-stage companies working in B2B and emerging technology sectors. 

Frex has closed a ₹9.5 crore pre-seed funding round co-led by Zeropearl VC and White Venture Capital.

The round also saw participation from strategic angel investors including Urban Company’s Abhiraj Singh Bhal, Varun Khaitan, and Raghav Chandra, along with Pradeep Parameswaran, Kunal Shah, and Rishabh Goel.

The company plans to deploy the capital towards expanding its on- and off-ramp network across India and North America. Frex will also invest in compliance and regulatory layers for major payment corridors, strengthen its engineering and ledger stack, and grow its outreach within NRI and migrant worker groups.

Founded in April 2025 by Aditya Varma, Himanshu Arora, and Nikhil Shanker, Frex offers a peer-to-peer payments platform designed for instant and low-cost international transfers. The system combines blockchain rails with local banking integrations and provides better-than-mid-market rates with near-instant settlement.

Frex focuses on simplifying global money movement for immigrants and workers who typically face delays, hidden charges, and forex mark-ups of 1–5% when sending money home. Since launching in November, the startup has seen increasing transaction volumes and expects to cross $1 million in monthly transfers within the next two to three months.

The company operates in a competitive category that includes Wise, Remitly, and Xoom.

Koriken has raised ₹4 crore in a seed funding round led by Rukam Capital. This marks the company’s first institutional funding as it plans to expand operations across India.

The capital will be used to enter additional cities, upgrade kitchen and delivery infrastructure, and develop new menu offerings. The company will also invest in brand building and team expansion to support growth.

Founded in 2022 by Hasan Patel, Koriken focuses on Korean street food for Indian consumers. It currently operates multiple outlets in Bengaluru, including Koramangala, HSR Layout, Whitefield, and Frazer Town. The brand offers dine-in, takeaway, delivery, and no-contact delivery services through platforms such as Zomato.

Going forward, Koriken plans to expand its flagship and high-street outlets, launch new products, and build systems to improve service speed and consistency. The company also intends to adapt Korean flavours to Indian consumption preferences as it scales nationwide.

Apraava Energy has raised USD 92 million (INR 8009 million) from British International Investment (BII) and Standard Chartered to expand its smart metering footprint and support India’s energy transition efforts.

The company signed two agreements, INR 4005 million from BII and INR 4004 million from Standard Chartered to accelerate its work under the national smart metering programme.

The funding will be used to install more than two million smart meters and enhance Apraava’s Advanced Metering Infrastructure (AMI) operations across multiple states.

The investment also supports India’s broader goals under the government’s Revamped Distribution Sector Scheme (RDSS), which aims to deploy 250 million smart meters by 2026.

Founded in 2002, Apraava Energy is headquartered in Mumbai and jointly owned by CLP Group and La Caisse. Over the years, the company has grown into an integrated energy player with a portfolio spanning renewable energy, transmission assets and smart metering projects. Its AMI work currently includes orders for about 7.8 million smart meters across Assam, Gujarat, West Bengal, Himachal Pradesh, Rajasthan, Puducherry and Madhya Pradesh.

Apraava says the new capital will help strengthen grid efficiency, reduce technical and commercial losses, and support better integration of renewable energy. The company earlier delivered India’s first operational RDSS smart metering project in Assam and completed one of the fastest go-lives in Himachal Pradesh.

Executives from Apraava Energy, BII and Standard Chartered said the partnership reflects a shared commitment to advancing clean energy adoption through digital infrastructure. The rollout of smart meters is expected to improve transparency for consumers, enable utilities to manage demand more effectively and support India’s push toward a low-carbon power system.

Furlenco, a furniture rental and home lifestyle company, has raised ₹125 crore in a new funding round led by Sheela Foam. Other participants include WhiteOak Capital and Madhu Kela.

The company will use the funds to strengthen operations in existing cities, expand into new markets, widen its product portfolio, and scale its offline and omnichannel presence.

Founded in 2012 by Ajith Mohan Karimpana, Furlenco operates a subscription-led model offering furniture, appliances, and home solutions across 28 cities. The company also sells new furniture alongside its rental products.

The fundraise comes after Furlenco reported its first profitable year in FY25, recording a net profit of ₹3.1 crore following years of losses. The turnaround began after Sheela Foam’s 2023 investment in House of Kieraya, Furlenco’s parent entity. Rentals currently account for around 70% of revenue, appliances 25%, and new furniture 5%.

Furlenco expects to close the current financial year with ₹370 crore in revenue and ₹37 crore in profit. The company is also expanding verticals such as Furlenco Kids and focusing on premium customers as part of its growth strategy. An IPO is being considered after FY27, once it reaches a profit threshold of around ₹100 crore.

To date, Furlenco has raised about $290 million and competes with Rentomojo and Rentickle in India’s rental furniture market.

Orthopedic recovery product startup Lumov has raised $1.2 million in a seed funding round led by Incubate Fund Asia.

The round also saw participation from QRG Investments & Holdings (Havells Family Office), IIMA Ventures, SIDBI, and several angel investors, including Ashish Gupta, Saket Narang, Abhishek Goyal, and Arjun Vaidya.

The company plans to use the capital for product innovation, manufacturing scale-up, and expansion into new cities such as Delhi NCR, Hyderabad, and Mumbai.

Founded in 2024 by Saumaric Dangwal and Ankit Gupta, Lumov develops orthopedic recovery and rehabilitation products designed for post-surgical care, pain management, and long-term mobility. The founders bring experience from Harvard Business School, IIT Kharagpur, private equity, and healthcare investing.

Lumov’s products are co-developed with orthopedic specialists from hospitals including Manipal, Apollo, Sakra, and AIG.

The Bengaluru-based company aims to enable better mobility and pain relief through clinically effective, user-focused solutions. Lumov currently has a team of 15 and plans to expand hiring across product development, sales, and operations as it works toward becoming a leading brand in India’s orthotics and rehabilitation sector.