Funding Roundup: Fresh Funds Raised by High Beam, Tazapay, FreshToHome and Others

Feb 17, 2023

It has been a great couple of weeks for startups in the e-commerce, logistics and supply chain space. In this week’s Ecosystem Funding Roundup, we are thrilled to feature 6 of their notable achievements:

Jendaya Pre-Seed Funding

E-commerce platform Jendaya recently secured pre-seed capital of $1.2M from Ada VC, Cultural Capital, Sabi CEO Anu Adedoyin Adasolum along with a few other angel investors. The startup was founded in 2018 with the primary goal of “positioning African names seamlessly in the same league as seasoned western labels such as Issey Miyake, Lanvin and Givenchy.” To date, Jendaya has garnered the most attention in Nigeria, Ghana, US and the UK, having processed approximately 300 orders with an average order value of $350 per shopping cart. 

  • Year Founded: 2018

  • Founder(s): Ayotunde Rufai, David Elikwu, Kemi Adetu and Teni Sagoe

  • Location: London, United Kingdom

  • Latest Funding: $1.2M Pre-Seed

  • Lead Investor(s): Undisclosed

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Tazapay Series A Funding

Tazapay, a Singapore-based fintech firm that facilitates cross-border payments in over 170 markets, has raised $16.9M in its latest Series A round led by Sequoia Capital. Some of its many clients include B2B marketplace IndiaMART, live-learning platform BrightCHAMPS and global reservation system Rezlive. Tazapay’s founders are planning to use the capital to expand the business in Asia and beyond, and also to add more local payment methods to support its business verticals such as cross-border e-commerce and software-as-a-service (SaaS).

  • Year Founded: 2020

  • Founder(s): Abhishek Sharma and Rahul Shinghal

  • Location: Singapore, Singapore

  • Latest Funding: $16.9M Series A

  • Lead Investor(s): Sequoia Capital 

Zypp Electric Series B Funding

India’s EV startup Zypp Electric received $25M in its latest Series B, bringing it one step closer to achieving its goal of deploying 200,000 electric scooters across 30 Indian cities by the end of 2025. The funding round, led by Gogoro, included both new and existing investors such as Goodyear Ventures, 9Unicorns, and Venture Catalysts. This is also reportedly the first time that global impact funds and Indian banks have participated in EV Debt for any startup in the country, according to multiple sources.

  • Year Founded: 2017

  • Founder(s): Akash Gupta, Rashi Agarwal and Tushar Mehta

  • Location: Gurugram, India

  • Latest Funding: $25M Series B 

  • Lead Investor(s): Gogoro

High Beam Debt Financing

High Beam, a startup that offers e-commerce customers banking features, along with credit and cash flow insights, has nabbed $10Min debt from TriplePoint. “Having seen firsthand the frustration dealing with legacy banks, accounting firms and predatory cash advances, we decided to build a banking platform for e-commerce that allows brand operators to manage cash flow in real time, access fair and transparent credit and grow profitably,” explained Co-Founder Samir Shergill who has years of experience working at big names like Microsoft and McKinsey.

  • Year Founded: 2020

  • Founder(s): ​​Gautam Gupta and Samir Shergill 

  • Location: New York, United States

  • Latest Funding: $10M Debt Financing 

  • Lead Investor(s): TriplePoint

FreshToHome Series D1 Financing

FreshToHome is an e-commerce grocery marketplace that specializes in selling a variety of seafood and meat to its customers. Founded by Shan Kadavil in 2015, the platform also serves as a means for suppliers to offer their seafood and meat products for sale. As part of its ongoing Series D1 financing, FreshToHome has secured approximately $50.2M in funding from a group of investors including Amazon, Investcorp, Iron Pillar and E20 Investment.

  • Year Founded: 2015

  • Founder(s): Shan Kadavil 

  • Location: Bengaluru, India

  • Latest Funding: $50.2M Series D1 

  • Lead Investor(s): Amazon and Investcorp

Cube Asia Seed Funding 

Online retail insights firm Cube Asia has raised $1.5M in seed funding led by Wavemaker Partners, with co-investment from M Venture Partners and several angels including 7-Eleven and Smartkarma Co-Founder Raghav Kapoor. Cube Asia was founded in 2022 to help subscribers make more data-driven decisions in areas like e-commerce pricing, discounts and influencer engagements. The funding will be used to expand the company's technology, product, and data teams to enhance data quality for customers across Southeast Asia.

  • Year Founded: 2022

  • Founder(s): Sarabjit Singh and Simon Torring

  • Location: Singapore, Singapore

  • Latest Funding: $1.5M Seed

  • Lead Investor(s): Wavemaker Partners

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