Defense contracts, significant D2C funding rounds and competition for Starbucks.

Welcome back to TechMantras!

Your one-stop guide for information on the Indian startup Ecosystem.

Every week, I consume various articles on the Indian startup ecosystem, and deliver exciting metrics and developments through a quick read.

Developments the past month🚀

This past month has been incredibly busy, with a wide range of firms raising significant amounts of funding. Read up on some notable developments below👇

• New Delhi-based Startup wins $36 Million Deal from Indian Air Force for 200 Kamikaze drones

• Zerodha’s profit grows to Rs 2907 Cr in FY23

• Digital Identity Creator raises $6.7 Million

• Beauty-based D2C raises $20 Million

UPI transactions crosses the 10 billion number for the second consecutive month

1. 🔗 Link: Consumer fintech raises $62 Million

• Bengaluru (and San Francisco) based Bright Money has closed their Series B round, led by AlphaWave and HummingBird.

• The product aims to help consumers out of debt through an array of services such as credit building, automated debt repayment plans, and so on.

• The company recently reported a Rs 4.75 Cr profit

2. 🔗 Link: Doceree raises $35 Million in new round

• The 4-year old platform for physicians aims to connect a wide network of professionals across different branches of the industry to enable better patient health outcomes.

• The company has already expanded into 8 Southeast Asian countries

• Their latest fund-raise comes on the heels of a $11 Million round last year.

3. 🔗 Link: Third Wave Coffee raises $35 Million

• The coffee chain is estimated to be valued at around $150 Million.

• This Series C round will aid the chain’s expansion and investment into their supply chain and technology

• While yet to report FY23 numbers, it registered a 2.7X growth, although losses surged as well.

And that’s all for today friends! Thanks for reading, and I would love to hear your thoughts.

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