Funding Alert
Gullak bags Rs 10 crore in a fresh round of funding from Better Capital and Stellaris Venture Partners
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ByStartupStory | June 18, 2022
Gullak, an automated savings and investing platform, has secured Rs 10 crore in a pre-seed round of funding backed by Better Capital and Stellaris Venture Partners. The new funds will be used to increase the company’s reach, as well as for product and marketing.
Angel investors included Vimal Kumar and Sheetal Lalwani (co-founders of JusPay), Shan MS (chief growth officer of JusPay), Ramanathan RV (co-founder of Hyperface), Maya Kunnath (head of legal at Hyperface), Nitin Gupta (founder and CEO of UniCards), and Prasanna Sankar (founder and CEO of UniCards) (co-founder at Rippling).
Former JusPay executives Manthan Shah and Dilip Jain, as well as Naimisha Rao, founded the firm in 2022, which released the official version of the app in May 2022 and now has over 9,000 users and 1,000 daily transactions. In the following months, the firm hopes to reach one lakh monthly active users (MAU) and ten lakh gross transaction value (GTV).
The startup, which was founded by the same people who created BHIM, has collaborated with Paytm for secure payment processing and Augmont for digital gold investments. Gullak assists customers in accumulating money by automating micro-savings and investing them in digital gold.
Better Capital’s Vaibhav Domkundwar remarked that Gullak enables millions of consumers to automate their savings and investments in a simple, rapid, and long-term manner – something that India sorely lacks. We are pleased to be a starting stage partner with Gullak in making wealth generation simpler.
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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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