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Top deals of Dec 1 to 7: Supply chain platform Sarvm.AI raises $41 m
Comfort Grid, CoreEL Technologies, Ashv Finance, and Sky Gate Hospitality were the other start-ups that received substantial investment during the week
Sarvmai System Pvt Ltd, which runs SarvM.AI, a supply chain platform handling fruits, vegetables, meat, fish and more, raised $41 million in a Series A investment from Lightspeed India Partners, Peak SV Partners (Sequoia India and SEA), and Khosla Ventures, according to PrivateCircle Research. The company says 34 per cent of fruits and 44.6 per cent of vegetables in India do not reach...
Sarvmai System Pvt Ltd, which runs SarvM.AI, a supply chain platform handling fruits, vegetables, meat, fish and more, raised $41 million in a Series A investment from Lightspeed India Partners, Peak SV Partners (Sequoia India and SEA), and Khosla Ventures, according to PrivateCircle Research.
The company says 34 per cent of fruits and 44.6 per cent of vegetables in India do not reach the end-user because of the lack of a seamless supply chain and related infrastructure. It claims that this results in a loss of about ₹63,000 crore for the country. It hopes to remedy this situation through the apps it is developing for the producer / farmer, distributor / wholesaler, retailer / hawker, and the end consumer. Sarvmai’s apps will be available in 96 cities across 19 states in India, according to its website.
Comfort Grid Technologies Pvt Ltd, which runs sleep-tech firm The Sleep Company, raised $22 million in a Series C investment from PremjiInvest and Fireside Ventures. The firm claims to manufacture India’s first and only SmartGRID mattress, using patented Japanese technology.
CoreEL Technologies (India) Pvt Ltd raised $16 million in a Series A investment from 360 ONE (IIFL Asset Management). It is a 24-year-old company that develops advanced electronic system level products for defence and aerospace, digital video solutions, high performance computing, and the higher education markets.
Ashv Finance Ltd raised $10 million in a Series E investment from Encourage Capital. It is part of the Aavishkaar Group, and it empowers MSMEs and small businesses of India and hopes to unlock their growth potential with loans. The company says its loans are collateral-free and have flexible tenure.
Sky Gate Hospitality Pvt Ltd raised $9 million in a Series C investment by Alpha Wave Global, IvyCap Ventures, Clear Bridge Ventures, Incred Wealth, Vevek Ventures, and DSP Family Office. Its brand name is Biryani By Kilo (BBK), and it believes that biryani will be the biggest food services and delivery category in India. The company promises to deliver the authentic taste of Hyderabadi (Kutchi) and Lucknowi (Pukki) biryani prepared in individual earthen handis with the freshest ingredients.
