Funding Roundup: Vinculum Gro...

Funding Roundup: Vinculum Group, Traction, BeLeaf and Others Secure Funding for Growth Initiatives

Aug 04, 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:

Traction Seed Funding

Nigerian-based startup Traction operates a comprehensive one-stop platform enabling businesses to accept payments, manage finances, and access essential operational tools. Traction's platform aims to address challenges faced by Nigerian SMEs in accessing credit facilities, business tools, and payment solutions. In a seed funding round led by Multiply Partners and Ventures Platform, Traction raised $6M to expand its merchant solution platform across Africa.

  • Year Founded: 2018

  • Founder(s): Mayowa Alli and Dolapo Adejuyigbe

  • Location: Lagos, Nigeria

  • Latest Funding: $6M Seed Funding

  • Lead Investor(s): Multiply Partners and Ventures Platform

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BeLeaf Series A Funding

BeLeaf Farms, an Indonesian farming-as-a-service (FaaS) startup, aims to become a category leader in exporting leafy greens and root vegetables while enhancing local farmers' productivity and livelihoods through end-to-end FaaS services. It recently raised $6.85M in a Series A funding round led by Alpha JWC Ventures, where the fresh funding will be used to support expansion, research, supply chain improvement, and IoT development.

  • Year Founded: 2019

  • Founder(s): Amrit Lakhiani

  • Location: Bogor, West Java, Indonesia

  • Latest Funding: $6.85M

  • Lead Investor(s): Alpha JWC Ventures

SnoFox Seed Funding

Based in New York, SnoFox has raised $4.5M in a seed funding round led by Voyager Ventures. The company offers data analytics for the global cold chain, improving warehouse efficiency and reducing energy usage. Over 1 million square feet of industrial cold storage warehouse space in seven states use SnoFox to improve operational efficiency and sustainability. The funds will be used to expand to new customers and markets across the US and hire new talent.

  • Year Founded: 2020

  • Founder(s): Benjamin Rubin and Matthew Rubin

  • Location: New York, United States

  • Latest Funding: $4.5M Seed Funding

  • Lead Investor(s): Voyager Ventures

The Fuel Delivery Funding

B2B doorstep diesel delivery startup, The Fuel Delivery, serves businesses relying on diesel for daily operations, operating in over 38 cities and catering to more than 1,000 customers in diverse sectors. The company has secured $2M in recent funding, where it will be used to upgrade its IoT-enabled platform, expand into new geographical territories, and bolster its marketing efforts. The startup’s growth plans extend beyond diesel as it is preparing to enter the gas and electric vehicles (EVs) space.

  • Year Founded: 2020

  • Founder(s): Rakshit Mathur

  • Location: Mumbai, India

  • Latest Funding: $2M

  • Lead Investor(s): Singapore’s Drake Trade and Investment Pte. Ltd

Remedial Health Funding

Remedial Health, a Nigerian healthtech startup, digitizes pharmacies to improve the pharmaceutical supply chain. Remedial Health aims to ensure the delivery of reliable and safe pharmaceutical products, reducing the supply of fake and substandard medicines. It recently raised $12M in a Series A funding round co-led by QED Ventures and Ventures Platform, where the funds will be used for expansion in Nigeria, including rural areas, and to provide inventory financing for pharmacies.

  • Year Founded: 2020

  • Founder(s): Samuel Okwuada and Victor Benjamin

  • Location: Lagos, Nigeria

  • Latest Funding: $12M

  • Lead Investor(s): Ventures Platform and QED Investors

Vinculum Group Series C Funding

Vinculum Group is an Indian omnichannel retail SaaS solution provider, offers software for e-commerce brands to manage orders, inventory, and syndicate product data. With over 400 customers, the platform supports B2B and B2C marketplaces, enabling fulfillment from various points in the supply chain. The recent Series C funding led by Delhivery will strengthen Vinculum's position in fulfillment solutions and fuel strategic growth and product development.

  • Year Founded: 2007

  • Founder(s): Venkat Nott, Annajee Nott and Deepak Singla

  • Location: Noida, Uttar Pradesh, India

  • Latest Funding: Undisclosed Series C

  • Lead Investor(s): Delhivery

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