Zouk, a vegan lifestyle brand, on Wednesday said it has raised $1.5 million in pre-series A round funding led by Stellaris Venture Partners, along with participation by the founders of Wow Skin Science.
Existing investors Titan Capital also participated in the round.
The fund infusion will aid Zouk in expanding its presence in India and new global markets, strengthening its supply chain and distribution channels, and extending its product line, as per a statement.
The new global markets include the United States, Canada, Europe and the Middle East.
Zouk offers products portfolio includes laptop bags, tote handbags, slings and chain wallets, made from 100% vegan leather sourced and manufactured in India.
Having gained over 50,000 customers with a 4x growth in the last seven months, Zouk aims to double its consumer base every six months for the next 5 years.
“Our first milestone is to scale Zouk to a 100 crore brand in the next couple of years. We then want to chart the path to hitting 1,000 crore in the next few years,” co-founder and CEO Disha Singh, said.
Mumbai-based eco-friendly home and personal care D2C brand Beco on Wednesday said it has raised Rs 4 crore (about $536,860 as per current exchange rates)in a seed round of funding, led by Climate Angels Fund and other investors including Titan Capital, Better Capital, Rukam Capital, Sequoia Sprout, and Zivame founder Richa Kar.
With the added capital support, Beco said it aims to quadruple its sales and encourage consumers to switch to sustainable living through their eco-friendly product range.
Founded in 2019 by three young entrepreneurs -- Aditya Ruia, Akshay Varma, and Anuj Ruia -- Beco is a 100% eco-friendly and zero plastic company.
In the last four years, it has grown into a community of over 1 lakh members helping reduce 25% of plastic from their daily routine. From reusable kitchen towels, compostable garbage bags, to bamboo toothbrushes and travel kits, all of Beco’s products are chemical-free and non-GMO verified.
The company now aims to quadruple sales by third quarter of 2022, expand into tier II and III markets. Its products are available on its website, e-commerce platforms like Amazon, Flipkart, Big Basket, and Nykaa among others. Offline presence spans across over 1,500 stores in India.
GalaxyCard on Wednesday said it has raised a $450,000 in an angel funding round led by JITO and other angel investors including Gopi Latpate, Samyakth Capital, and Anant Agarwal.
The acquired funding, a statement said, will be used for scaling up the business and expanding its team to provide an enhanced customer experience.
GalaxyCard focuses on making credit cards easily accessible to customers with monthly income of less than Rs 30,000.
Customers download the app and register for free online processing. Digital version of PAN card, Aadhaar card, and bank statements are used for the instant verification.
Since launch in 2018, GalaxyCard has garnered customers from over 700 towns, and is growing its customer base by 50% per month and plans to increase it by 5x within next 4 months.
GalaxyCard plans to add more types of cards and for a wider audience.