<ul><li><keyword id="924368" type="General" weightage="80" keywordseo="peepul-tree" source="Orion">Peepul Tree</keyword> aims to support 1 lakh artisans and over 500 crafts, and onboard 1,000 content creators on its platform by the end of 2023. </li><li>The funds will be used to bring onboard content creators, digitise art supply chain and build technology to strengthen artisan communities across <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>. </li><li>An estimated 200 million people in India are dependent on local artforms and handicrafts for a living, according to Peepul Tree.</li></ul>Peepul Tree, a live-commerce platform connecting India’s artisans to global consumers, has raised $6 million in a seed funding led by <keyword id="211885" type="General" weightage="50" keywordseo="elevar-equity" source="Orion">Elevar Equity</keyword>. Peepul Tree aims to enable the discovery of India’s cultural heritage with immersive shoppable stories and experiences. The funds will be used to onboard content creators to showcase the heritage behind their products. The capital will also be utilised in digitising the artisan supply chain and building technology to bring together artisans, content creators and customers on a single platform, said Peepul Tree in a statement. Backed by the fundraise, Peepul Tree additionally aims to support 1 lakh artisans and over 500 crafts and onboard 1,000 content creators on its platform by the end of 2023. Peepul Tree was founded in 2022 by <keyword id="3136220" type="General" weightage="50" keywordseo="anish-williams" source="Orion">Anish Williams</keyword>, <keyword id="23806" type="General" weightage="50" keywordseo="mini-menon" source="Orion">Mini Menon</keyword> and <keyword id="3245763" type="General" weightage="50" keywordseo="priya-jayaraman" source="Orion">Priya Jayaraman</keyword>. “While there are many players addressing this market, the nuances of business models differ significantly and Peepul Tree is unique in its DNA that builds for the artisans. Anish, Priya and Mini bring in a great mix of experience, networks &amp; ambition and are leveraging strong global trends that will help build momentum over the next 5-10 years,” <keyword id="14074637" type="General" weightage="50" keywordseo="jyotsna-krishnan" source="Orion">Jyotsna Krishnan</keyword>, managing partner, Elevar Equity said. There are around 200 million people in India estimated to be dependent on local artforms and handicrafts for a living, through formal and informal channels, the company said. Despite a large market and high margins, the current supply-chain construct does not equitably distribute margins back to the actual creator of the product – the artisan, the company said., adding that this could be attributed to the lack of resources and deal-making know-how, which makes it impossible for the actual product creators to compete and thrive within the global market. Peepul Tree wants to tap into this massively underserved supply chain and enable the creation of a global brand presence for Indian artisans. This will be driven by the creator economy along with storytelling powered by <keyword id="16031703" type="General" weightage="20" keywordseo="live-history-india-peepul-tree" source="Orion">Live History India - Peepul Tree</keyword>’s content arm, it said. “We are committed to providing access to a global marketplace and a credible platform to artisans that have been at the helm of safeguarding centuries-old traditions and sustainable processes whilst ensuring the consumers discover and take back a conscious retail experience of a lifetime,” said Williams, co-founder, Peepul Tree. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/here-are-top-10-most-powerful-passports-in-the-world-india-stands-at-85th-position/slidelist/96907574.cms">India moves up 5 ranks on Henley’s most powerful global passports index – Here are the top 10</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/this-shark-tank-india-s2-winner-bowls-judges-over-with-its-for-profit-approach-to-social-impact-haqdarshak/articleshow/96906954.cms">This Shark Tank India S2 winner bowls judges over with its for-profit approach to social impact</a>

Live ecommerce startup working with local artisans raises $6 million in seed round led by Elevar Equity

<ul><li><keyword id="13980501" type="General" weightage="100" keywordseo="curebay" source="Orion">CureBay</keyword> will use the funds to acquire skilled talent, expand to new locations and further strengthen the tech platform and care delivery model.</li><li>Odisha-based CureBay offers affordable healthcare services for rural areas.</li></ul>CureBay, an Odisha-based health-tech startup on Wednesday said that it had raised ₹50 crore in a Series A funding round led by <keyword id="211885" type="General" weightage="50" keywordseo="elevar-equity" source="Orion">Elevar Equity</keyword>, a US-based private equity firm. CureBay plans on launching 100 <keyword id="15470078" type="General" weightage="50" keywordseo="eclinics" source="Orion">eClinics</keyword> in the next twelve months and will use the funds raised to acquire skilled talent, expand to new locations and further strengthen the tech platform and care delivery model. CureBay currently has 15 eClinics across remote districts and villages in Odisha, which has reportedly helped over 10,000 patients. “The capital will enable the next phase of expansion and help reinforce our position in the country,” said <keyword id="647867" type="General" weightage="50" keywordseo="priyadarshi-mohapatra" source="Orion">Priyadarshi Mohapatra</keyword>, founder and chief executive officer, CureBay. Founded in 2021 by Priyadarshi Mohapatra, Shobhan Mahapatra and <keyword id="2288262" type="General" weightage="50" keywordseo="sanjay-swain" source="Orion">Sanjay Swain</keyword>, CureBay offers affordable healthcare services for rural areas. It enables last-mile distribution of primary healthcare services by leveraging its eClinics and technology, making healthcare accessible in small towns and villages. “With CureBay, we intend to empower the healthcare system and make it accessible to patients who lack information and proper medical resources. Our hybrid model helps in overcoming the challenges of skewed patient-provider ratios and the concentration of providers in a few urban pockets,” added Priyadarshi Mohapatra. <cmsannotation type="cmsannotation" annotationid="CureBay’s hybrid model" comment="subhead" text="CureBay’s hybrid model">CureBay’s hybrid model</cmsannotation> CureBay uses a hybrid model to offer primary healthcare services. It allows users to schedule appointments, provides teleconsultations, delivers medicine, offers diagnostic services and provides admission of patients for tertiary care with its partner hospitals through a booking model. CureBay hires trained healthcare workers at its clinics who assist walk-in patients in connecting with city-based doctors for consultations. The eClinics also offer diagnostic services through partner labs and deliver medicines. “We at Elevar Equity have long held the view that rural healthcare platforms need to be custom-designed for this market. CureBay's blended distribution model with assisted tech is well-positioned to address a massive gap - millions of customers are eager to pay for quality healthcare in medically underserved areas,” said <keyword id="14074637" type="General" weightage="50" keywordseo="jyotsna-krishnan" source="Orion">Jyotsna Krishnan</keyword>, managing partner, Elevar Equity. SEE ALSO: <a href="https://www.businessinsider.in/retail/news/democratising-commerce-ondc-could-be-the-upi-moment-for-small-retailers-msmes/articleshow/95393032.cms">Democratising commerce: ONDC could be the UPI moment for small retailers, MSMEs</a> <a href="https://www.businessinsider.in/business/corporates/news/zoho-becomes-a-1-billion-company-in-revenues/articleshow/95382381.cms">Zoho to double down R&amp;D but keep tech hiring ‘slow’</a> <a href="https://www.businessinsider.in/stock-market/news/archean-chemical-industries-ipo-opens-10-things-to-know-before-you-subscribe-to-it/slidelist/95393837.cms">Archean Chemical Industries IPO opens — 10 things to know before you subscribe to it</a>

Health-tech startup CureBay raises ₹50 crore in Series A funding led by Elevar Equity

Financial services platform for startups <keyword id="14074636" type="General" weightage="100" keywordseo="strideone" source="Orion">StrideOne</keyword> on Tuesday said it has raised Rs 250 crore via a mix of equity (led by <keyword id="211885" type="General" weightage="80" keywordseo="elevar-equity" source="Orion">Elevar Equity</keyword>) and debt from banks. StrideOne, started by founders of venture debt fund <keyword id="9353689" type="General" weightage="50" keywordseo="stride-ventures" source="Orion">Stride Ventures</keyword>, introduced a startup-led credit distribution model for their supply chains and crossed AUM (asset under management) mark of Rs 200 crore in six months of inception across more than 20 anchor companies. It aims to reduce technological and financing gaps by leveraging the startups' existing ecosystem (vendors, suppliers) to provide credit related and other financial products such as tie-up finance, personal loans, etc. "We have been trying to innovate newer structures that would be further conducive to startups who are looking to expand and grow their businesses," said <keyword id="13803875" type="General" weightage="50" keywordseo="ishpreet-singh-gandhi" source="Orion">Ishpreet Singh Gandhi</keyword>, Founder, StrideOne. StrideOne, an NBFC licensed by the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword>, said it leverages its team's expertise and deep-rooted understanding of the startup (anchor) ecosystem's financing need-gaps and their data on business performance and cash flows. StrideOne recently acquired tech firm EzCred platform and plans to make more tech-focused acquisitions in 2022. "The accelerated scale displayed by StrideOne reiterates the massive opportunity waiting to be unlocked in the extended startup ecosystem and we are excited to partner with them to bring it to life," said <keyword id="14074637" type="General" weightage="50" keywordseo="jyotsna-krishnan" source="Orion">Jyotsna Krishnan</keyword>, Managing Partner, Elevar Equity. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/startups/news/vineeta-singhs-sugar-cosmetics-raises-50-mn-as-it-plans-to-add-30000-stores/articleshow/91906537.cms">Vineeta Singh’s Sugar Cosmetics raises $50 million as it plans to add 30,000 stores</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/india/news/mango-production-down-by-80-in-up-due-to-abnormal-weather-conditions-say-growers/articleshow/91905401.cms">Mango production down by 80% in UP due to abnormal weather conditions, say growers</a>

StrideOne raises ₹250 crore to help reduce technological and financing gaps

<ul><li>The latest series of funds raised by <keyword id="10721954" type="General" weightage="80" keywordseo="sarvagram" source="Orion">SarvaGram</keyword> Solutions saw investments from <keyword id="211885" type="General" weightage="50" keywordseo="elevar-equity" source="Orion">Elevar Equity</keyword>, Elevation Capital, Temasek and <keyword id="266068" type="General" weightage="50" keywordseo="tvs-capital" source="Orion">TVS Capital</keyword> Funds. </li><li>SarvaGram says that it provides a range of customised financial and capacity-enhancing products to an increasingly aspirational rural India. </li><li>The startup is headquartered in Mumbai, and currently operates out of eight hubs, over 50 outlets across four states. </li></ul>Digital lending platform SarvaGram Solutions, which focuses on lending to rural households raised $35 million in a Series C round, the startup said on Tuesday. Investors in this round include Elevar Equity, Elevation Capital, Temasek and TVS Capital Funds, with Elevar Equity being the largest investor in the company. SarvaGram closed its Series B round at $10 million in February 2021. “We found the strong experience of the founders, the focus of SarvaGram on the underserved rural middle class households and the increasing availability of data which makes for better underwriting, a differentiated story,” said <keyword id="2708998" type="General" weightage="50" keywordseo="anuradha-ramachandran" source="Orion">Anuradha Ramachandran</keyword>, managing partner, TVS Capital Funds. SarvaGram says that it provides a range of customised financial and capacity-enhancing products to an increasingly aspirational rural India. As per its own estimates, the target market is over 80 million households. “SarvaGram is at the cusp of two critical trends. First, the inflection point in rural markets as demonstrated by growing economic activity and aspirations seen across rural households and second, leveraging the entry point of financial services for a truly data led broader distribution strategy. This round provides aligned growth capital to help the company execute to their scale ambitions,” said Jyotsna Krishnan, managing partner, Elevar Equity. The startup is headquartered in Mumbai, and currently operates out of eight hubs, over 50 outlets across four states. It has over 250 franchise partners covering over 8,000 villages. With this funding round, SarvaGram plans to expand its distribution network by adding 75 more outlets by the end of FY24. It also plans to expand its on-ground franchisees — known as ‘SarvaMitra’ - to three times the current strength across different states. SarvaGram claims to take a 360-degree view of rural households as cohesive economic units. It applies data-driven intelligence to assess their overall potential including an in-depth understanding of their ground reality, balance sheets and multiple income streams. “Having successfully executed our household-centric hypothesis across tens of thousands of rural households, we now understand our customers much better. The fundraise will boost our mission of putting more power in the hands of rural households by enhancing our technology platform, strengthening the data analytics layer apart from growing our distribution and adding on-ground human capacity,” said Utpal Isser, co-founder, MD and CEO, SarvaGram. Its solutions include a high degree of de-risking as well as customization to serve the needs of the households as opposed to being restricted to a product selling paradigm. It also says that its high-touch, high-tech distribution platform leverages technology and data science along with a highly nimble on-ground presence. “Their lending offering is unique and creates the foundation to offer a range of solutions - unlike the urban salaried individual with a payslip, assessing income for a rural borrower is tricky - given multiple income streams, variability in agricultural earnings, and limited paper trails,” said <keyword id="10135369" type="General" weightage="50" keywordseo="mridul-arora" source="Orion">Mridul Arora</keyword>, partner, Elevation Capital. In most rural households, documentation is non-standardized. Consequently, the 150 million household-strong rural market is underserved by banks and large NBFCs, and SarvaGram wants to address it. “We are impressed by the team’s strong execution in a tough environment, scaling to ₹275 crore assets under management, while maintaining tight credit quality and approaching profitability,” said Mridul Arora, partner, Elevation Capital. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/bharatpe-ceo-suhail-sameer-to-step-down-five-months-after-taking-over/articleshow/96703750.cms">BharatPe CEO Suhail Sameer to step down five months after taking over</a> <a href="https://www.businessinsider.in/india/news/additional-restrictions-cant-be-imposed-on-freedom-of-speech-of-lawmakers-sc/articleshow/96701707.cms">Additional restrictions can't be imposed on freedom of speech of lawmakers: SC</a>

This startup which lends to the rural middle class raises $35 million in a Series C round

<ul><li><keyword id="14074636" type="General" weightage="20" keywordseo="StrideOne" source="Orion">StrideOne</keyword>, which recently raised ₹250 crore as both equity from Elevar Equity and debt from banks, hopes other startups would follow its example.</li><li>The tech-powered digital lender which received its <keyword id="7882527" type="General" weightage="20" keywordseo="NBFC-license" source="Orion">NBFC license</keyword> last year, believes that the time is ripe for their debt-based solutions.</li><li>“When there is concentration of equity around all the time, that’s what is running in their minds all the time. It will create a large awareness of debt products,” <keyword id="14134418" type="General" weightage="20" keywordseo="Abhinav-Suri" source="Orion">Abhinav Suri</keyword>, the co-founder of StrideOne.</li></ul>While most startups are feeling the heat of a funding winter, Delhi-based startup StrideOne sees an opportunity to tap an ecosystem largely untouched by traditional finance. The tech-powered digital lender which received its NBFC license last year, believes that the time is ripe for their debt-based solutions as capital is expected to remain scarce for the next three-four quarters. “This ripple effect (of a funding slowdown) will be felt across the startup ecosystem. We are a startup focussed institution and this provides us with an opportunity to offer our off-balance sheet solutions to them,” <keyword id="13803875" type="General" weightage="20" keywordseo="Ishpreet-Singh-Gandhi" source="Orion">Ishpreet Singh Gandhi</keyword>, co-founder, StrideOne told Business Insider India. The end-to-end digital solutions company also acquired EdCred platform, a SaaS company to improve its technology capabilities which will allow them to grow without hiring more people. “We want to remain unit positive,” said Abhinav Suri, co-founder, StrideOne — which recently raised ₹250 crore as both equity from Elevar Equity and debt from banks. It expects other startups to follow their example. “Some startups also do not want to raise equity at the current valuations but also intend to keep on building the mindspace for their products,” explains Gandhi, who is a former banker like his co-founder Suri. StrideOne is also at an inflection point where startups might beckon an era of debt. “When there is concentration of equity around all the time, that’s what is running in their minds all the time. It will create a large awareness of debt products,” says Suri. <cmsannotation type="cmsannotation" annotationid="Paying influencers, FPOs and drivers" comment="subhead" text="Paying influencers, FPOs and drivers">Paying influencers, FPOs and drivers</cmsannotation> Gandhi and Suri are keen on funding companies such as themselves who are unit positive and intend to keep creating value even in a low-capital regime. Yet, their ‘solutions’ are nothing like straight loans offered by banks. One of their clients is a logistics company with top-tier clients like JSW Steel and Amazon. They need to pay their drivers every month but get paid every 60 days. StrideOne offers solutions that aid the startup like working capital loans but also help them collect from their clients. MyGlamm is yet another client of theirs which needs to pay its many influencers every month, and StrideOne eases the way their cash flow works and allows a growing company such as them to keep growing. Since it is MSME and agritech focussed, StrideOne is also helping many unorganized players into the formal economy. “We are working with the silk value chain, and also FMCG players - startups whose vendors go all the way back to farmers producer organizations or FPO who become our borrower,” explains Suri. Since StrideOne was floated by <keyword id="14134419" type="General" weightage="20" keywordseo="Strides-Ventures" source="Orion">Strides Ventures</keyword>, a venture debt fund — it already has access to a pool of startups in need of specialized financing solutions. “They are plugged into the startup ecosystem which pretty much provides them with zero acquisition cost where they are solving a problem and not pitching sales to them,” says Jyotsna Krishnan, managing partner at Elevar Equity. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/news/mitsubishi-electric-to-invest-220-crore-to-set-up-factory-in-maharashtra/articleshow/92054968.cms">Mitsubishi Electric to invest ₹220 crore to set up factory in Maharashtra</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/corporates/news/paytm-could-be-entering-a-low-cost-high-profit-margin-regime-say-a-brokerage-firm/articleshow/92054964.cms">PayTM could be entering a low cost-high profit margin regime, say a brokerage firm</a>

You Searched For "jyotsna krishnan" and got 5 results

Live ecommerce startup working with local artisans raises $6 million in seed round led by Elevar Equity

Eetika Kapoor

Health-tech startup CureBay raises ₹50 crore in Series A funding led by Elevar Equity

Sourabh Jain

StrideOne raises ₹250 crore to help reduce technological and financing gaps

IANS

This startup which lends to the rural middle class raises $35 million in a Series C round

Katya Naidu

This startup has a solution for other startups suffering from funding slowdown

Katya Naidu