Skip to content
Finance — Business — All about technology.

Six emerging companies, including Kimirica, Dashverse, and Elivaas, receive financial backing from undisclosed investors

Nine Indian startups, including Kimirica, Dashverse, and Elivaas, collectively raise significant funding: $15M, $13M, and $10.4M respectively, as they secure early to growth investments across various sectors.

,   and  Administrator
2 min read
Funding given to Kimirica, Dashverse, Elivaas, and six other emerging businesses
Funding given to Kimirica, Dashverse, Elivaas, and six other emerging businesses

Six emerging companies, including Kimirica, Dashverse, and Elivaas, receive financial backing from undisclosed investors

Indian Startups Secure Millions in Funding

In a week marked by significant investments, several Indian startups have secured substantial funding to fuel their growth and expansion. Here's a roundup of the latest funding news:

Kimirica

Carnelian Asset Management LLP, led by Vikas Khemani, invested approximately $15 million (Rs 131.5 crore) in Kimirica, a company that exports hotel toiletries to over 70 countries and partners with more than 10,000 luxury hotels and airlines. The funds will be used for brand building, expanding the customer base, product development, and offline expansion. Kimirica aims to launch over 10 experiential stores across India and the Middle East and grow its revenue from Rs 300 crore in FY25 to Rs 1,000 crore within the next three to four years.

Founded in 2013 by Mohit, Rajat, Kimi, and Rica Jain, Kimirica has expanded into the direct-to-consumer (D2C) retail space and is setting up a manufacturing facility in Indore.

Dashverse

Dashverse, an entertainment company that uses artificial intelligence to enable creators worldwide to develop, publish, and monetize original stories across comics and micro dramas, secured $13 million in a Series A funding led by Peak XV Partners. However, specific details about the funding round, such as the participation of other investors, are yet to be disclosed. Dashverse was founded in 2023 in Bengaluru.

Elivaas

Elivaas, a luxury vacation rental platform, secured Rs 87 crore ($10.4 million) in its Series B funding round. The funding will be used to scale the startup's PMS business, strengthen its brand presence, and deepen investor engagement. Elivaas specializes in curating luxury villa vacations across destinations in India by focusing on short-term luxury rentals.

Spike AI

Spike AI collected $1.9 million in pre-seed funding, led by Sorin Investments. The funding will accelerate the commercial deployment of Spike AI's green propulsion and debris-avoidance solutions, in-orbit refuelling technologies, and expand its global footprint.

Lodha Capital

Lodha Capital acted as the exclusive investment banker for the transactions involving Dashverse, Elivaas, and Spike AI.

Other Notable Funding

  • Truemeds raised ₹744 crore from Info Edge Ventures, Westbridge Capital Partners, Peak XV Partners, and Accel India.
  • TMRW secured ₹437 crore from ServiceNow Ventures.
  • Aragen Life Sciences received ₹300 crore from Avendus Capital and SBI Life Insurance Company.
  • Ultraviolette Automotive raised ₹184 crore from TDK Ventures, Zoho Corporation, and Lingotto.

These investments highlight the diverse sectors attracting funding in India, including healthtech, lifestyle brands, and mobility.

Further Investments

Fairdeal.Market secured $3 million in a pre-Series A funding round, led by Incubate Fund Asia and Waterbridge Ventures. Manastu Space Technologies raised $3 million in an extended Series A round, led by Capital-A. However, more information about these investments, such as the participation of other investors, is yet to be disclosed.

[1] Kimirica Press Release [2] Dashverse Press Release [3] Elivaas Press Release [4] VentureBeat Article

Read also:

Related

Latest