Fintech platform Saswat Finance, supply chain startup Xportel, and AI startup Darwix AI have secured equity funding in separate early-stage rounds while Dugar Finance has secured debt funding from a Swiss investor.
Saswat Finance has raised $2.6 million (about Rs 22.4 crore) in a pre-Series A funding round led by Ankur Capital, marking the second investment from the venture capital firm's third fund. Existing investor Incubate Fund Asia participated in the round.
The company said the funding will enable it to expand its tech capabilities, add new financial products on its platform, and scale operations across Maharashtra, Karnataka, and Uttar Pradesh. It will also invest in the data and analytics infrastructure.
Founded in 2022 by Arun Tiwari, Indrajyoti Bhattacharjee, and Ravi Ranjan Chaudhary, Saswat Finance operates a platform to provide credit origination, managing insurance partnerships, and digital collections for smallholder farmers and micro enterprises. The company counts Seedstars VC and Sparrow VC among its other investors.
Saswat works closely with the dairy cooperatives like Amul in Maharashtra, insurers such as Iffco Tokio General Insurance, and lending institutions RBL Bank Ltd to extend its distribution and product capabilities.
Xportel has secured an undisclosed amount in funding in an ongoing seed funding round from Rukam Sitara and Flipkart Ventures, with additional backing from Venture Catalysts and a group of angel investors.
Founded by Anshul Mahindru, Darpan Lamba and Sanchit Narang, Xportel offers a full-stack platform for Indian SMEs to manage everything from export opportunity discovery and documentation to logistics and compliance.
The startup said it will use the capital to strengthen its tech capabilities, operations and sales teams. It also aims to deepen its tech stack to further automate compliance workflows, customs documentation, and post-shipment tracking.
Darwix AI has raised $1.5 million in a funding round from Rebalance, Inflection Point Ventures, JITO Incubation and Innovation Foundation, alongside Growth Sense, Growth91 and angel investors.
The Gurugram-based startup said it plans to accelerate product development, hire staff, and deepen its presence across global markets.
Darwix AI is building an omni-channel generative AI stack that provides conversational intelligence, assistance, and automation for sales conversations and is building for large enterprises. It operates in India, the Middle East, Southeast Asia, and the US. The company was co-founded in 2022 by Ajay Sethi and Hanit Awal.
Dugar Finance
Dugar Finance & Investments Ltd has raised $3 million in debt from the $75-million Green Basket Bond issued by Swiss impact investment firm Symbiotics Investments and subscribed by development finance institution British International Investment (BII).
The non-banking financial company said the funding will strengthen its presence in the EV financing and rooftop solar financing space, primarily targeting residential as well as MSME customers, including housing societies, in tier-2 and tier-3 cities.