Asia Startups
Indian AgriTech Company Balwaan Krishi Raises $11.3M Series B to Scale IoT-Enabled Farm Equipment Manufacturing and Distribution
First Bridge India Growth Fund led the round to support domestic production, Southern India expansion and connected farm equipment.
Jaipur-based agricultural machinery company Balwaan Krishi has raised ₹100 crore, approximately $10.4 million, in a Series B funding round led by First Bridge India Growth Fund Private Equity.
Other institutional investors also participated in the round, although their names and individual contributions were not disclosed. Investment banking firm Right Pillar Advisors advised Balwaan Krishi on the transaction.
The company will use the capital to expand domestic manufacturing, strengthen its dealer and service network in Southern India and develop agricultural equipment incorporating predictive-maintenance and Internet of Things capabilities.
Expanding Manufacturing and Distribution
Balwaan Krishi plans to increase its manufacturing capacity in India, giving the company greater control over product availability, quality and supply-chain operations.
The expansion is also intended to reduce dependence on imported agricultural machinery and components. This could help the company shorten delivery times and adapt equipment more closely to Indian farming conditions.
A significant portion of the investment will be directed toward building dealer and after-sales service networks across Southern India, where Balwaan Krishi currently has a smaller presence than in the country’s northern markets.
The company already works with more than 800 dealers across Northern India and combines physical distribution with an e-commerce business. It says its products have reached more than 400,000 farmers, although these figures are company-reported.
Affordable Machinery for Smaller Farms
Founded by Rohit Bajaj and Shubham Bajaj, Balwaan Krishi operates through Modish Tractoraurkisan Private Limited. An earlier company announcement said the business was established in 2015, rather than 2016 as reported by some secondary sources.
The company produces agricultural machinery and tools designed for Indian farming conditions. Its portfolio includes power weeders, sprayers, brush cutters, tillers and other small-scale mechanisation products.
Balwaan Krishi targets small and marginal farmers who may not have the land or capital required to purchase conventional tractors and larger machinery. Its products are generally priced between ₹10,000 and ₹100,000, placing them below the cost of many large agricultural machines.
The company operates through a hybrid business-to-business and business-to-consumer model, selling through dealers, digital channels and its own online presence. It also provides pre-sale guidance, product training, servicing and spare-parts support.
Developing Connected Farm Equipment
Part of the Series B capital will fund the development of equipment with Internet of Things and predictive-maintenance capabilities.
Connected machinery could allow farmers and service teams to monitor performance, detect potential technical problems and schedule maintenance before equipment fails. Balwaan Krishi expects these capabilities to improve reliability and reduce downtime during critical farming periods.
The company is also seeking to strengthen its product-development processes as it expands into new regions with different crops, soil conditions and farming practices.
Rohit Bajaj, co-founder and CEO of Balwaan Krishi, said rising labour costs and pressure to improve agricultural productivity are increasing demand for affordable mechanisation.
He added that the company’s focus is on practical equipment that small farmers can afford and use under local conditions.
First Bridge Backs India’s Mechanisation Opportunity
First Bridge India Growth Fund is a Category II alternative investment fund focused on growth-stage companies in India. The fund follows a sector-agnostic investment strategy.
Vishal Gupta, managing partner at First Bridge Investment Managers, said Balwaan Krishi operates at the intersection of a large addressable market, growing adoption of farm mechanisation and demonstrated customer demand.
India’s fragmented land ownership structure creates a distinct market for compact and affordable machinery. Small and marginal farmers represent the majority of agricultural landholders, but large equipment is frequently unsuitable for their farm sizes and financial capacity.
Balwaan Krishi is targeting this gap with smaller machines designed to reduce manual work without requiring the investment associated with tractors and other heavy equipment.
Previous Funding Rounds
The Series B follows a ₹40 crore investment completed by JM Financial Private Equity in June 2024 through JM Financial India Growth Fund III. That investment was described by Balwaan Krishi as its Series A round and was intended to support branding, working capital and distribution growth.
Before the JM Financial investment, the company raised $2 million in a pre-Series A round led by Caspian Leap for Agriculture Fund in May 2023. Angel investors Deepak Agarwal, Rishab Jain and Pulkit Bachhawat also participated.
Based on the disclosed values of these three rounds, Balwaan Krishi has raised approximately ₹156 crore in institutional and angel funding, using the reported rupee value of its earlier $2 million round. The precise cumulative amount may vary with the exchange rate used at the time of that transaction.
The latest investment gives Balwaan Krishi additional capital to move beyond its established northern distribution base and build a broader national presence. Its ability to scale manufacturing, establish reliable after-sales service and demonstrate the practical value of connected machinery will shape its next phase of growth.
Asia Startups
Indian HRTech Startup Scooter Raises $160K Pre-Seed Funding to Expand Sales Hiring Platform and Streamline Candidate Assessments
The Pune-based startup secured ₹1.5 crore in an AJVC-led round to strengthen its skills-based platform for assessing and hiring sales professionals.
Scooter, an Indian sales hiring startup, has raised ₹1.5 crore (US$0.16 million) in a pre-seed funding round led by AJVC, the early-stage venture capital fund founded by Aviral Bhatnagar.
The Pune-based company plans to use the fresh capital to strengthen its product and simplify sales hiring for startups and job seekers. The deal marks AJVC’s first investment in a Pune-based startup.
Scooter did not disclose its valuation or the total amount of capital it has raised to date.
Moving Sales Hiring Beyond Resumes
Founded in 2024 by Kartik Mandrekar and Saumya Seth, Scooter is building a hiring platform focused specifically on sales roles. Rather than relying primarily on resumes and conventional screening, the startup assesses candidates through exercises designed around the requirements of individual sales positions.
The platform sources verified sales candidates and evaluates them before presenting employers with a shortlist of three to five applicants. Hiring managers can also review video clips from candidate assessments before examining their resumes.
Scooter’s approach is built around assessing how candidates perform in sales-related scenarios earlier in the recruitment process, giving employers another layer of information before committing time to interviews.
The model primarily targets startups and sales teams looking to evaluate practical selling skills while reducing the time required to screen large pools of applicants.
Pre-Seed Funding to Strengthen the Platform
Scooter will use the AJVC-led financing to expand its product and improve the hiring experience for both candidates and employers.
The company is working to refine how sales professionals are assessed and matched with potential employers, particularly startups that need to build or expand sales teams.
Its platform brings candidate sourcing, assessments and shortlisting into a single process. By providing employers with a smaller pool of evaluated candidates, Scooter aims to reduce some of the manual screening typically involved in sales recruitment.
The startup has not disclosed additional investors in the pre-seed round.
Building a Network of Sales Candidates
Scooter said it currently works with more than 50 companies and has added 14 new clients in recent months. Its candidate network has also grown to more than 10,000 sales professionals.
The company said one client completed a sales hire through the platform in six days. The business and performance figures were provided by Scooter and have not been independently verified.
The founders bring backgrounds spanning sales, hiring and science. Mandrekar previously led sales teams at Gartner, Shoptimize and Graas, giving him experience in both sales operations and recruitment. Seth is a scientist and holds a master’s degree from the University of Pennsylvania.
A Skills-First Model for Sales Recruitment
Scooter is betting that sales recruitment can benefit from putting practical assessments earlier in the hiring process rather than using resumes as the primary filter.
Its platform is designed to evaluate candidates against role-specific requirements and give hiring managers access to assessment results before they move deeper into the recruitment process.
With its first institutional capital from the AJVC-led pre-seed round, Scooter will now focus on developing its product, expanding its network and improving how startups identify and evaluate sales talent.
Asia Startups
India-based SpaceTech Startup GalaxEye Secures $6.67M TDB Support to Advance OptoSAR Satellite Technology
GalaxEye will use the TDB financing to advance its multisensor Earth-observation platform from TRL 6 to operational readiness at TRL 9.
GalaxEye Space Solutions, a Bengaluru-based space technology startup, has secured ₹63.84 crore (US$6.67 million) in financial support from India’s Technology Development Board (TDB) to accelerate the development and deployment of its indigenous OptoSAR satellite technology.
The financing will support a ₹247.69 crore project focused on building a multisensor Earth-observation satellite that integrates Synthetic Aperture Radar (SAR) with electro-optical imaging. GalaxEye plans to use the funding to move the technology from Technology Readiness Level (TRL) 6 to TRL 9, taking it from advanced demonstration to an operational space system.
TDB Backs GalaxEye Through India’s RDI Fund
The Technology Development Board, which operates under the Department of Science and Technology, signed an agreement with GalaxEye Space Solutions Private Limited to provide the ₹63.84 crore financial package.
The support comes through the Government of India’s Research Development and Innovation (RDI) Fund, which finances technology-intensive projects as they progress toward deployment and commercialisation.
TDB will provide the financing through Optionally Convertible Debentures. GalaxEye will direct the capital toward engineering, system integration, testing, qualification and validation work required to prepare the OptoSAR platform for operational deployment.
TDB Secretary Rajesh Kumar Pathak highlighted the importance of supporting the domestic development and deployment of sophisticated technologies, with the RDI Fund designed to help projects bridge the gap between advanced development and commercial readiness.
Combining Radar and Optical Imaging
GalaxEye’s OptoSAR architecture brings SAR and electro-optical imaging together within a single multisensor satellite platform, aiming to overcome some of the limitations associated with relying on either technology independently.
Optical sensors can capture detailed visual information but are constrained by darkness and cloud cover. SAR uses radar signals and can operate during the day or night and under cloudy conditions. Combining both capabilities could provide more consistent Earth observation across changing weather and lighting environments.
The proposed satellite is being designed to deliver imagery with a resolution of less than 0.5 metre. GalaxEye is targeting applications including wide-area monitoring, infrastructure observation, surveillance, human and vehicle detection, and target classification.
Moving OptoSAR From TRL 6 to TRL 9
GalaxEye’s technology has reached TRL 6, indicating that the system has been demonstrated in a relevant environment. The next development phase will focus on reaching TRL 9, when the technology has been proven in its final operational configuration.
Achieving that milestone will require further system integration, qualification, performance validation and testing before deployment. TDB’s financial support is intended to help fund this transition and move the OptoSAR platform closer to operational use.
The technology could support applications across defence and border monitoring, disaster management, agriculture, infrastructure planning, maritime surveillance and environmental monitoring. Its multisensor configuration is designed to combine the detailed visual information provided by optical sensors with SAR’s ability to capture imagery despite poor visibility or cloud cover.
Building Domestic Earth-Observation Capabilities
The programme also contributes to India’s efforts to develop domestic capabilities across satellite manufacturing, advanced sensing and space-based data services.
For GalaxEye, integrating radar and optical sensors into a single satellite architecture could give users greater flexibility in satellite tasking, data access and system configuration while reducing observation gaps created by weather and lighting conditions.
The TDB-backed programme now represents a key development phase for the company as it works to validate its OptoSAR technology and move the platform from an advanced prototype toward operational deployment.
Asia Startups
Indian Experience-Tech Startup Alive App Raises $1M Seed Funding to Expand Experience Supply and Technology Capabilities
The Powerhouse Ventures-led round, backed by Flipkart Ventures, will support Alive App’s technology and experience supply as it targets 3X revenue growth.
Alive App, an Indian AI-powered experience-tech startup, has raised $1 million in a seed funding round led by Powerhouse Ventures, with participation from Flipkart Ventures, as it looks to deepen its presence across six Indian markets.
The Bengaluru-based company will use the fresh capital to strengthen its product and technology capabilities while expanding the supply of experiences available through its platform. Alive App is also targeting 3X revenue growth over the coming months and plans to increase how frequently customers book activities.
Building a Marketplace for Local Experiences
Founded in 2023 by Vivek Kumar, Alive App helps urban consumers discover curated activities spanning adventure, food, wellness, art, culture and learning.
The platform operates across Bengaluru, Hyderabad, Mumbai, Chennai, Delhi and Goa, offering more than 500 experiences through a network of over 400 creators and partners.
More than 90% of bookings on Alive App are for local experiences, according to the company, indicating that much of its demand comes from consumers looking for activities within their own cities rather than travel-related experiences.
Alive App currently adds around 100 new experiences every month. The startup said its experience supply across Chennai, Mumbai, Delhi and Goa has grown five times faster than during its initial expansion phase.
Fresh Capital to Strengthen Product and Supply
The $1 million investment follows a ₹6 crore pre-seed round raised last year, which was also led by Powerhouse Ventures.
Alive App plans to use the latest funding to improve its product and technology while increasing the breadth of experiences offered across markets where it already operates. Rather than prioritising entry into additional cities, the company is currently focused on strengthening its existing footprint and increasing booking frequency.
Bengaluru, Alive App’s first and largest market, has already recorded its first profitable quarter. Meanwhile, newer markets are showing faster early-stage expansion, according to the company.
Founder and CEO Vivek Kumar said the adoption of experiences as an alternative to conventional weekend plans has been one of the company’s strongest signals over the past year. He noted that Mumbai and Chennai are expanding faster than Bengaluru did during its early months, while supply in recently launched cities has scaled at a significantly quicker pace.
The company’s longer-term ambition, Kumar added, is to make Alive App a regular destination for urban consumers looking for activities and experiences each week.
An AI-Led Approach to Scaling
Alive App is also using AI beyond the consumer-facing platform, incorporating the technology into how it operates and scales the business.
Kshitij Golwalkar, General Partner at Powerhouse Ventures, described Alive App as a differentiated and capital-efficient business within the category. He said the startup’s use of AI across its operations, combined with its consumer proposition and differentiated experience supply, was central to the investor’s decision to continue backing the company.
The new financing gives Alive App additional capital to build on its existing network of creators and partners while improving the technology connecting consumers with local activities.
With more than 500 experiences already available across six markets, the company’s next phase will centre on expanding supply, driving repeat usage and pursuing its target of tripling revenue in the coming months.
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