Funding Roundup: ScrapUncle, ...

Funding Roundup: ScrapUncle, India Index, ShipEase and Others Garner Fresh Financial Injection

Sep 08, 2023
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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:

ShipEase Pre-Series A Funding

India-based logistics startup ShipEase operates as a SaaS-based logistics provider, focusing on optimizing supply chains for D2C brands and SME e-tailers. With over 2,000 clients and handling huge volumes of shipments per month, ShipEase aims to streamline logistics costs and improve delivery speed for emerging brands. Securing $1M in a Pre-Series A funding round led by Inflection Point Ventures, ShipEase plans team expansion, technology enhancement, product development, and brand building.

  • Year Founded: 2020

  • Founder(s): Pawan Kumar, Ajay K, and Lalit Singh

  • Location: India

  • Latest Funding: $1M

  • Lead Investor(s): Inflection Point Ventures

Praso Series A Funding

Praso, a B2B food service company based in Brazil, had raised $9.3M in Series A funding and acquired AI-powered Floki's IP for automating purchases. Praso connects large food manufacturers with small retailers, offering data-driven solutions and credit options. Shifting to fulfillment due to logistics limitations, it aims to monetize logistics and expand its network with the fresh capital.

  • Year Founded: 2021

  • Founder(s): Samuel Carvalho, Fernando Bilfinger and Rodrigo Castellari

  • Location: Recife, Brazil

  • Latest Funding: $9.3M

  • Lead Investor(s): Valor Capital Group and NFX

ZEVO Funding

ZEVO, an integrated electric supply chain and warehousing startup from India, aims to cater to the demand for sustainable transportation towards greener supply chain solutions. Specializing in electric vehicle-based solutions, especially in refrigerated transport, ZEVO offers real-time visibility, temperature-controlled delivery, and micro storage. With the recent funding led by Agility Ventures, ZEVO plans to expand its electric vehicle fleet for greener last-mile delivery and integrated logistics, including refrigerated solutions. 

  • Year Founded: 2022

  • Founder(s): Aditya Singh Ratnu and Dhruv Bhatia

  • Location: New Delhi, India

  • Latest Funding: Undisclosed 

  • Lead Investor(s): Agility Ventures

Markato Seed Funding

Hong Kong-based Markato is a cross-border marketplace aiding independent brands to enter the Asian market and handle their Asia wholesale operations. It offers personalized product recommendations for wholesale purchases from global brands, following a $5M seed funding led by Lightspeed. The platform plans to expand to 2,000 buyers and 2,000 brands, concentrating on the Asia wholesale sector.

  • Year Founded: 2023

  • Founder(s): Brian Lo and Martin Li

  • Location: Hong Kong

  • Latest Funding: $5M

  • Lead Investor(s): Lightspeed

ScrapUncle Pre-Seed Funding

 ScrapUncle, a reverse logistics startup from India, provides scrap recycling services through its website and app, allowing users to schedule doorstep pickups for various recyclable materials. The startup targets waste management issues by adding efficiency and eco-consciousness to the recycling process. It recently secured $447K in a pre-seed funding led by Bestvantage to expand the company’s operational scale and contribute to overall revenue growth.

  • Year Founded: 2019

  • Founder(s): Mukul Chhabra

  • Location: New Delhi, India

  • Latest Funding: $447K

  • Lead Investor(s): Bestvantage

India Index Pre-Seed Funding

India Index, a B2B supply chain marketplace, has raised $500K in seed funding led by multiple investors. The platform connects Indian suppliers with global buyers through a cloud-based system for supply chain partner selection. The funding will enhance the platform, introducing tools for transaction and logistics services. India Index also aims to provide supply chain certification for Indian suppliers, promoting ethical trade relationships.

  • Year Founded: 2022

  • Founder(s): Samir Kapadia

  • Location: Washington DC, United States

  • Latest Funding: $500K

  • Lead Investor(s): JSW Ventures, Samvardhana Motherson Group and Westminster Capital

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