Category: News

Good Monk, the flagship brand of Superfoods Valley, has raised $2 million in a pre-Series A funding round led by RPSG Capital Ventures, with continued support from existing investors Multiply Ventures, Sharrp Ventures, and ThinKuvate.

The health-focused startup had previously raised $841K from Multiply Ventures and other early backers

According to the company’s statement, the fresh capital will be directed towards research & development, product innovation, and delivering improved nutritional alternatives.

Founded in 2022 by Amarpreet Singh Anand and Sahiba Kaur, Good Monk offers a diverse portfolio of over 50 clinically backed nutritional products including multivitamin and probiotic mixes, fiber supplements, and specialized nutrition solutions for children, adults, and seniors.

“With a differentiated proposition, we are confident that the consumers will resonate with our offerings and add us to their nutritional journey,” added Amarpreet Singh Anand, Co-founder of the company.

With a mission to make nutrition accessible, transparent, and inclusive, the brand is also committed to social impact through contributions to mid-day meal programs for underserved communities.

Good Monk currently retails through its own website and major e-commerce platforms like Amazon and Flipkart. The company is actively expanding its digital presence and strengthening its omnichannel reach.

Over the past year, the brand claims to have grown 11X, backed by strong consumer trust and product efficacy.

Recently featured on Shark Tank India Season 4, Good Monk secured a deal with Vineeta Singh, co-founder of Sugar Cosmetics.

Lab-grown diamond brand Jewelbox has raised $3.2 million in a pre-Series A funding round led by V3 Ventures, with additional participation from Atrium Angels, Dexter Ventures, Infinyte Club, Samarthya Capital, and existing investor JITO Incubation & Innovation Foundation (JIIF).

Earlier, in March 2024, the Kolkata-based startup secured Rs 3.7 crore in seed funding from JIIF.

The fresh capital will be used to expand its store network, boost brand awareness, and hire talent across key departments.

Founded in 2022 by siblings Vidita Kochar Jain and Nipun Kochar, Jewelbox sells lab-grown diamond jewellery through both online and offline channels.

The company reported an annual revenue run rate (ARR) of Rs 38 crore for FY25, up from Rs 16 crore the previous year.

Currently, Jewelbox operates 8 stores across six cities—Delhi, Gurgaon, Bengaluru, Chennai, Kolkata, and Guwahati—and plans to expand to 30 stores by the end of 2025.

Recently, Jewelbox and other brands have requested the Central Consumer Protection Authority (CCPA) to ban the term “synthetic” for lab-grown diamonds, as it may cause confusion with imitation stones like cubic zirconia.

Jaipur-based quick service restaurant (QSR) chain, Nothing Before Coffee (NBC), has raised $2.3 million in a Pre-Series A funding round, led by Prath Ventures, with participation from SYL Investments.

The startup plans to use this capital to expand its retail presence, targeting the opening of 150+ outlets across India by March 2026.

Focused particularly on Tier-II and Tier-III cities, NBC also intends to invest in new store formats, such as compact kiosks, and enhance its digital infrastructure, supply chain, and team capabilities.

Founded in 2017 by Ankesh Jain, Akshay Kedia, Shubham Bhandari, and Anand Jain, NBC currently operates 85+ outlets across 35 cities in India and Portugal.

In addition to its café offerings, NBC also sells branded merchandise, including instant coffee, mugs, and tumblers through its online store.

“The capital will help us deepen our presence, invest in technology and talent, and unlock the next phase of growth as we work towards becoming India’s most loved and accessible coffee chain,” said Ankesh Jain, cofounder of NBC.

The brand is disrupting the coffee market with its affordable coffee options and Indian-inspired innovations, such as the ‘Shrappe’, a desi twist on the traditional frappe.

NBC’s business model revolves around a “youth-first” approach, offering affordable, high-quality coffee in aesthetically designed cafés that cater to India’s growing aspirational youth. These vibrant spaces are designed to create a social and engaging atmosphere for customers.

According to Custom Market Insights, India’s coffee chain market is expected to reach a $323.8 million opportunity by 2033, highlighting the growth potential for NBC and its competitors.

NBC’s approach places it in competition with other homegrown QSR chains such as Blue Tokai Coffee Roasters and Third Wave Coffee Roasters.

Electric ride-hailing startup BluSmart has reportedly paused ride bookings in parts of Delhi-NCR and Bengaluru, sparking concerns about its future.

The move follows an ongoing SEBI investigation into Gensol Engineering, a firm closely associated with BluSmart, which has reportedly uncovered financial mismanagement and fund diversion.

While the app is still available on both the Google Play Store and Apple App Store, users are currently unable to book rides for any time slot.

In a related advisory, Delhi International Airport confirmed that BluSmart has temporarily ceased operations at the airport, adding to the mounting uncertainty.

Founded in 2019 by Anmol and Puneet Jaggi, along with Punit Goyal, BluSmart stands apart from competitors like Ola, Uber, and Rapido with its scheduled ride model and fully electric fleet.

The company was in the midst of raising a $50 million Series B round, having already secured Rs 61 crore ($7 million) from 26 individual investors, with the remainder expected soon.

Amid ongoing uncertainty, sources suggest BluSmart may be shifting from its core ride-hailing model to becoming a fleet partner for Uber, possibly transferring 700–800 EVs to the platform.

Users are also frustrated by BluSmart’s prepaid model, which required advance payments via the Blu Wallet. With services suspended, many are stuck with unused balances, and the app offers no clear refund process or reliable customer support.

Meanwhile, SEBI has accused co-founder Anmol Singh Jaggi of misusing funds from Gensol Engineering, leading to a trading ban on Gensol and a temporary disqualification of its promoters.

As the crisis unfolds, both users and investors await clarity on refunds and BluSmart’s future direction.

Magma, the fast-growing B2B industrial solutions startup, has raised $5 million in a Series-A funding round led by Capria Ventures, with additional backing from Avinya Ventures, Sanjiv Rangrass, and existing investors General Catalyst, Accion Venture Lab, and WEH Ventures.

This round builds on the company’s previous $3.3 million fundraise, which saw participation from General Catalyst, Titan Capital, and other prominent early-stage backers.

The newly raised capital will help Magma deepen its core industrial offerings, enhance backward integration, and scale up its technology stack to boost procurement agility for its growing customer base.

Launched in 2022 by Neal Thakker, Magma is on a mission to transform how Indian factories operate by offering a vertically integrated ecosystem that spans customized raw materials, green energy solutions, biomaterials, waste recycling, and logistics.

The startup positions itself as a crucial enabler of sustainable and efficient growth for India’s manufacturing landscape.

In just two years, Magma has earned the trust of over 250 industrial clients across sectors like ceramics, chemicals, and packaging. With a current Rs 250 crore revenue run rate and operational profitability, the company is gearing up for its next big leap.

Looking ahead, Magma is targeting a Rs 1,000 crore revenue run rate in the next 24 months, fueled by its growing footprint in India’s SME manufacturing sector.

Food delivery giant Swiggy is expanding beyond its core offerings with the launch of “Pyng”, a dedicated platform designed to connect users with verified professional freelancers across more than 100 specializations.  

The app, now available in Bengaluru on both Android and iOS, marks Swiggy’s official foray into the professional services space. 

Originally launched as a seller app earlier this year, Pyng now features an AI-powered interface that enables users to discover and connect with professionals in areas such as health, wellness, finance, education, travel, events, and more.  

From yoga instructors and tax planners to career advisors, DJs, and makeup artists, Pyng offers a wide array of experts tailored to individual needs. 

“As our lives become increasingly fast-paced, the demand for professional assistance — from tax planners and counsellors to yoga trainers — is growing across both personal and professional spheres,” Nandan Reddy, co-founder and head of innovation at Swiggy, said in a statement. “With Pyng, we’re offering a reliable, spam-free platform where users can connect with trusted experts.” 

The platform leverages smart AI assistants to enhance user experience. Users receive real-time recommendations based on their queries, and each professional has a dedicated AI assistant that provides service details and answers questions before bookings. 

The app also includes a refund option for unsatisfactory experiences, ensuring trust and transparency. 

Swiggy has already onboarded over 1,000 professionals and aims to scale this to 10,000+ in the coming months. Pyng is part of Swiggy’s broader strategy to simplify urban lifestyles by offering trusted solutions for everyday needs. 

Cashfree Payments, a leading fintech company specializing in payments and API banking solutions, has appointed Piyush Anchliya as its new Chief Financial Officer (CFO).

Anchliya will oversee the company’s financial strategy and operations, playing a key role in guiding Cashfree’s growth and innovation initiatives. He will report directly to Akash Sinha, CEO and Co-founder of Cashfree Payments.

With over 15 years of experience in investment banking, M&A, corporate strategy, and finance, Anchliya has held senior roles at Barclays, IDFC, and Bandhan Group.

Most recently, he was CFO of Bandhan AMC (formerly IDFC AMC). He is an alumnus of IIM Ahmedabad and holds a B.Tech. from IIT Kharagpur.

Welcoming the new appointment, Akash Sinha said, “We’re thrilled to have Piyush join the leadership team at such a critical juncture. His extensive experience across the financial services sector will be instrumental in scaling our business sustainably and strengthening our financial architecture. As Cashfree continues to evolve into the financial backbone for a wide array of businesses, Piyush’s leadership will be pivotal.”

Piyush Anchliya expressed his enthusiasm about joining Cashfree at this exciting phase, noting the company’s leadership in India’s rapidly evolving digital finance landscape.

He looks forward to contributing to strategic initiatives, creating value for stakeholders, and advancing Cashfree’s mission to provide businesses with seamless payment solutions.

With his diverse expertise across both public and private markets, Anchliya is well-positioned to help Cashfree achieve its ambitious goals. His focus on sustainable growth will be key to refining operational efficiencies and providing strategic financial leadership.

This leadership change comes at a key moment for Cashfree Payments, which has recently secured three crucial RBI licenses—PA-PG, PA-CB, and PPI—further solidifying its position as a trusted fintech partner.

With $80 billion in annual transactions for over 800,000 businesses and a $53 million funding boost from KRAFTON and Apis Growth Fund II, Cashfree is now poised for accelerated growth and innovation.