Funding Alert
Rural Tech Startup Hesa Raises Funding $2M Led By Venture Catalysts And 9Unicorns
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ByStartupStory | June 30, 2021
Rural tech startup Hesa, offering a unified social, digital, and physical commerce platform announced that it has raised $2 million in a seed round led by Manish Modi of Mastermind Capital at Venture Catalysts (VCats) along with Accelerator Fund, 9 Unicorns. The startup, Co-founded by Vamsi Udayagiri and Hema Nandiraju in 2019, Hesa allows local brands to come together and promotes unity. Complemented by the on-ground network on Village Level Entrepreneurs, Hesa’s robust tech-led platform empowers businesses to reach, showcase, demonstrate, convince, and transact with their customer base of more than 850 million across all remote and rural regions in the country.
Vamsi Udayagiri, Founder and CEO, Hesa, stated, “The entire fund-raising experience has been a phenomenal journey in itself. I have met many amazing people, learnt from every interaction, and grown so much along the way. It is a great validation that Hesa’s model resonates with so many.
Rural tech startup, Hesa has achieved gross revenue of $ 4 million till now with a 15 percent average monthly growth and a 65 percent retention rate. In February 2021, Hesa got featured in the Top 5 Startups amongst 1000+ startups in India and five other countries at the Infopreneurs Startup Contest. In March 2021, Hesa was considered as one of the top two startups among more than 200 most promising Indian startups at the pan-India fundraising event, elevate 2021, hosted by IIT Madras.
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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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