FinAGG has raised $11 million in a Series A funding round led by Tata Capital and BlueOrchard Finance; Groyyo has raised $5.4 million from Lighthouse Canton and Trifecta Capital in a debt funding round; while INDRA has raised $4 million in Series A funding round.
FinAGG bags $11m in Series A funding
India-based fintech firm FinAGG has raised $11 million in a Series A funding round led by Tata Capital and BlueOrchard Finance, as per a LinkedIn post shared by the company.
Tata Capital is the investment arm of Indian conglomerate Tata Group, while BlueOrchard Finance is a global impact investment manager. SIDBI (Small Industries Development Bank of India) participated in the funding along with existing investors Prime Venture Partners and BLinC Invest.
The company also received funding from Gray Matters Capital as non-convertible debentures to invest in the financial empowerment of women entrepreneurs.
FinAGG plans to use the new capital to increase its physical presence to over 200 cities by March 2025 and to support its global outreach and product innovation.
Founded in 2020, FinAGG is an invoice-based financing solution for MSMEs in India, providing quick cash flow and stock-now-pay-later solutions and a digital credit line for dealers, distributors, and retailers.
The company had raised $3 million in a pre-Series A round led by venture capital firm BLinC Invest in 2o22.
Groyyo raises $5.4m debt funding round
Groyyo, a B2B manufacturing and automation startup, has raised $5.4 million from global investment institution Lighthouse Canton and venture financing platform Trifecta Capital in a debt funding round.
This financing also includes a USD facility provided by Lighthouse Canton to help Groyyo scale its operations in the UAE, according to a release.
“The infusion of additional capital will empower us to partner with a broader spectrum of SMEs and help them take their business global,” said Subin Mitra, CEO of Groyyo.
In 2022, the company had secured $40 million in a debt-equity combination in its Series A funding round. This round was led by Tiger Global.
INDRA secures $4m Series A funding
INDRA, a water and wastewater treatment startup, has raised $4 million in a Series A funding round, according to a release.
The round was led by Switzerland-based Emerald Technology Ventures and India-based Mela Ventures, while Peak Sustainability Ventures and The Climate Angels also participated.
“Solving the wastewater treatment challenge needs continuous innovation and relentless commitment. This partnership gives us a lot of conviction to confidently pursue and deliver on our promise to drive the world’s transition towards sustainable water management,” said Amrit Om Nayak, CEO of INDRA.
Founded in 2018, INDRA develops turnkey and affordable point-of-source, decentralised wastewater management, treatment, and recycling packaged solutions.