Entrepreneurship

Locad, Skylark Drones, others raise capital

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Locad, a logistics and supply chain management integrator, has raised $4.9 million in a seed funding round led by Sequoia Capital India’s Surge.  

Antler, Febe Ventures, Foxmont, Global Founders Capital, Gokongwei Family, and Hustle Fund participated in the round.  

Founded in Manila and Singapore in October 2020, Locad operates in the logistics industry and has offices in Australia, Hong Kong, India, the Philippines and Singapore. 

Surge is Sequoia Capital India’s rapid scale-up programme for startups in India and Southeast Asia. It provides $1 to $2 million of seed capital to startups. 

Skylark Drones

Drone platform company Skylark Drones has secured $3 million in a pre-Series A funding round to expand globally and strengthen its product offerings.  

The round was co-led by investors InfoEdge Ventures and IAN Fund, the company said.  

Skylark Drones said that AdvantEdge Founders, Fowler Westrup, Redstart Labs, IKP and Vimson group also pooled in cash.  

Skylark Drones, which has offices in the US and India, had raised a seed funding round in 2018.  

The company caters to Fortune 500 companies.  

Arcatron Mobility

Assisted living startup Arcatron Mobility has raised an undisclosed amount in growth financing through revenue-based financing platform Klub.  

The Pune-based company will use the funds raised to ramp up its production, it said.  

“Arcatron has grown year on year at about 250% and in Klub we have found the perfect growth partner. We are seeing a constant uptick in demand and, with Klub capital, we aim to build inventory and ramp up production,” Ganesh Sonawane, co-founder and CEO of Arcatron Mobility, said.  

The company has raised $646,000 in funding from angel and seed investors so far. 

Tjori

Online fashion brand Tjori said it has signed an equity deal of Rs 16 crore with the Indian media firm Hindustan Times. 

Tjori said the deal will provide it branding and marketing opportunities and accelerate its growth at the global level. 

“We are excited to close this deal as it gives us an opportunity to reach a wider audience and present them with what Tjori has to offer,” Mansi Gupta, chief executive officer of Tjori, said.  

Tjori is a lifestyle e-commerce brand that was founded in 2013. 

TWID

Rewards-based payment network TWID said it raised $2.5 million in funding led by venture capital fund BEENEXT and Sequoia Capital India through its scale-up program Surge. 

Angel investors Kunal Shah, Rajul Garg and YourNest India participated in this round, TWID said.  

TWID, an acronym for That’s What I Do, was founded in October 2020 by Amit Koshal, Amit Sharma and Rishi Batra. The company has dual headquarters in Singapore and India. 

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