StepChange has secured over $4 million in seed funding led by BEENEXT and Global Founders Capital, while Mayfield India has sold its entire stake in electric mobility startup BluSmart.
Genesia, Saison & others back StepChange
Corporate sustainability platform StepChange on Tuesday said it has secured over $4 million in seed funding led by BEENEXT and Global Founders Capital.
The investment also saw participation from a group of global investors including Genesia Ventures, Whiteboard Capital, Saison Capital, Seedstars, Antler, and Speciale Invest.
The funds raised will be used for enhancing StepChange’s region-specific carbon accounting models, driving product development, and accelerating growth in India and key international markets.
Blusmart founder buys out Mayfield’s stake
Venture capital fund Mayfield India has exited electric mobility startup BluSmart, selling its entire stake to the company’s chief executive Anmol Singh Jaggi for around Rs 32 crore, ET reported.
With the purchase of Mayfield India’s 2% shares, the founders of BluSmart have further consolidated their holding in the company, and together, the six founders now own over 30% stake in the Gurugram-based startup.
Mayfield India, which was the first institutional investor in BluSmart, held around a 2% stake after the company’s latest fundraising was announced earlier this month.
Earlier this month, BluSmart raised $42 million in funding through a combination of equity and debt, led by the company’s founders and leadership team.
The funding round included an equity infusion of $37 million and venture debt of $5 million. Almost 50% of the round was subscribed by BluSmart founders and the leadership team. Other participating investors included BP Ventures and Survam Partners.