Investment platform PowerUp Money, deeptech manufacturing startup Leumas, gaming console company MetaShot, and sports-tech firm Machaxi have secured early-stage funding, the companies said on Wednesday. Meanwhile, Garuda Aerospace has secured funding from a family office.
PowerUp Money has raised $7.1 million (Rs 61 crore) in seed funding led by Accel, Blume Ventures, and Kae Capital, as the wealthtech platform targets 10 million users on its platform in the next three years.
The startup said the round also saw participation from 8i Ventures, DeVC, and prominent angel investors.
Founded by Prateek Jindal, PowerUp runs a platform for mutual fund investing called Power Mutual Funds, which helps users manage their mutual fund portfolios through a customisable app, offering research and advisory.
Deeptech manufacturing startup Leumas has raised $2.2 million in seed funding, in a round led by Info Edge Ventures and Temasek-backed deeptech fund Capital 2B, with participation from Capital-A and Anicut Capital.
The funding, the startup said, will fuel R&D capabilities, scale its on-demand manufacturing infrastructure, and launch pilot deployments of factories for wellness and pharma brands.
Leumas, founded by Subhajit Biswas and Nitesh K, offers on-demand manufacturing and factory-as-a-service models for wellness and pharma brands, which is based on software-defined, modular robot factories manufacturing and business outcomes–from development to commercial production.
MetaShot
Console gaming startup MetaShot has secured Rs 2 crore via convertible debt from Karnataka Information Technology Venture Capital Fund (KITVEN), the state government's alternative investment fund, to drive growth and support market expansion.
Bengaluru-based Gillidanda Tech Pvt. Ltd, which operates MetaShot, was founded in 2021 by Prince Thomas, Ranjit Kumar Behera, and Ajith Sunny. The company began selling the MetaShot Smart Bat in August 2023. Earlier this year, MetaShot raised funds from Sauce.vc, along with Sharrp Ventures and Panthera Peak.
The company claims that, in the last one year, MetaShot has crossed 1 million games played on its app and has forged partnerships with brands such as Britannia, Wrogn, and Tata Capital. The company has recently forayed in the US and UAE and plans to expand into other markets.
Machaxi
Sports-tech startup Machaxi has raised $1.5 million in a round led by Rainmatter, the investment arm of Zerodha. Former Indian badminton player Prakash Padukone and existing investors joined the round.
The Bengaluru-based startup said the funding will help Machaxi scale its operations beyond the city into three new locations: Hyderabad, Pune, and Chennai. The funding will also help the company build a nationwide framework for AI-powered badminton coaching.
Founded in 2022, Machaxi provides facilities and structured sports coaching to users of its Machaxi app on which they can avail membership to play at the company's partner centres or take coaching lessons.
Garuda Aerospace
Drone maker Garuda Aerospace has secured $1 million in investment from Narotam Sekhsaria Family Office, with participation from existing investors, including We Founder Circle, as the company gears up for a public listing.
The latest funding follows Garuda Aerospace’s successful Rs 100 crore Series B round led by Venture Catalysts.
The fresh investment raised will help the company focus on key areas like scaling up manufacturing capacity from the current 8,000 drones per year to 12,000-15,000 annually, accelerate research and development efforts, and expand its export footprint to 50 countries by 2025.
