Photo: iStockPhoto
Photo: iStockPhoto

Start-ups: Deals of the day

Saral Design, Industrybuying, RedDoorz and Jugnoo will mostly use their investments to fund expansion plans

Saral Design raises funds from Fynd founder, FCB Ulka advisor

Saral Design Solutions Pvt. Ltd, a product-driven start-up making affordable and high quality menstrual hygiene products has raised angel funding from Farooq Adam (founder of shopping-discovery website Fynd) and Ambi Parameswaran (advisor and former chief executive of FCB Ulka Advertising).

Founded by Suhani Mohan and Kartik Mehta in 2015, Saral Design is looking to increase its production and sales and add peripheral features to the product in the coming months.

“Hygienic menstrual protection is a basic need for every woman, absence of which has led to 70% women in India contracting reproductive tract infections. There is a huge potential for good quality products at the right price, coupled with an innovative distribution strategy, to reach out to the 312 million under-served women of India," said Mohan said in a statement.

Due to growing prosperity of the middle-class, increase of women in the workforce and higher awareness about sanitation, the sanitary-pads market in India is expected to grow five times to $3 billion by 2025, the company said.

Trifecta Capital leads Rs12 crore funding in, a Delhi-based online marketplace selling industrial products to small and medium enterprises (SMEs), as well as large businesses, has raised Rs12 crore in a funding round led by venture-debt provider Trifecta Capital. The funding would be used to finance the working capital and also drive growth in the enterprise arm of Industrybuying, the company said in a statement.

Venture debt is an alternate form of finance often used by start-ups to extend runway, fund capex, optimize dilution or finance their working capital needs.

Founded by siblings Rahul Gupta and Swati Gupta in 2013, Industrybuying had in August 2015 raised Rs60 crore Series B round led by Kalaari Capital and existing investor SAIF Capital.

Singapore-based Beenext and private investors from family businesses TVS Group and Murugappa Group have also invested in Industrybuying, the company said in a statement.

RedDoorz raises Pre-Series A Funding from 500 Startups

RedDoorz (Commeasure Solutions India Pvt. Ltd), an online budget-hotel discovery platform, has raised Pre-Series A Funding from 500 Startups to expand its outreach to Indonesia and explore service offerings in other Southeast Asian countries such as Thailand, Singapore and Malaysia. The region has a travel market size of over $60 billion, the company said in a statement.

Founded by Amit Saberwal and Kunwar Asheesh Saxena, RedDoorz had previously raised funding from Jungle Ventures. “We are thrilled to be part of the 500 Startups global community and network and are confident that with their support, we will be able to rapidly expand the RedDoorz offering across a market that is ripe for transformation," said Saberwal, chief executive of RedDoorz, said in a statement.

Jugnoo raises $2.5 million from Paytm, others

Jugnoo, an on-demand auto-rickshaw aggregator, has raised $2.5 million in the second tranche of its Series B funding, taking the total in the round to $5.5 million.

The round was led by existing investor Paytm (One97 Communications Ltd) and saw participation from Snow Leopard.

The first tranche of Series B funding was raised in November 2015.

The funds will be used for pan-India expansion, improving supply quality, incentives for drivers and scaling up marketing campaigns, Jugnoo said in a statement.

Jugnoo offers its services in 22 cities with two million users and 30,000 transactions per day, the firm said in a statement. “We will invest this funding to increase our presence to 25 more cities over the coming six months and provide access to the remotest corners of the country," said Samar Singla, co-founder and chief executive, in a statement.