Saswat Finance, Xportel, Darwix AI, and Dugar Finance have successfully secured funding to fuel their growth plans.
Why it matters: These investments mark significant milestones for each company as they continue to innovate and grow in their respective sectors.
The details:
- Saswat Finance raised $2.6 million in a pre-Series A funding round led by a prominent venture capital firm, with participation from existing investor Incubate Fund Asia.
- Xportel secured an undisclosed amount in a seed round led by Rukam Sitara, with support from several angel investors.
- Darwix AI raised $1.5 million in a funding round led by Rebalance, JITO Incubation and Innovation Foundation, Growth Sense, and Growth91, along with several angel investors.
- Dugar Finance & Investments Ltd raised $3 million in debt from the $75-million Green Basket Bond issued by Swiss impact investment firm Symbiotics Investments, with subscription from development finance institution British International Investment (BII).
Saswat Finance, founded in 2022 by Arun Tiwari, Indrajyoti Bhattacharjee, and Ravi Ranjan Chaudhary, operates a platform providing credit origination, insurance partnerships, and digital collections for smallholder farmers and micro enterprises. The new investment will help the company expand its technology capabilities, introduce new financial products, and scale operations across Maharashtra, Karnataka, and Uttar Pradesh.
Xportel, founded by Anshul Mahindru, Darpan Lamba, and Sanchit Narang, offers a comprehensive platform for Indian SMEs to manage export processes. The newly raised capital will be used to enhance Xportel’s tech capabilities and expand its operations and sales teams.
Darwix AI, co-founded in 2022 by Ajay Sethi and Hanit Awal, is building an omni-channel generative AI stack that provides conversational intelligence, assistance, and automation for sales conversations. The company plans to use the funding to accelerate product development, hire new staff, and expand its global market presence.
Dugar Finance plans to use the funding to enhance its footprint in the EV financing and rooftop solar financing sectors, targeting customers in tier-2 and tier-3 cities.
What they’re saying:
- “Our goal is to offer a unified generative AI stack that not only understands but also elevates every customer interaction with actionable intelligence and automation. This fundraise gives us the fuel to double down on product innovation and expand our presence in the United States,” said Ajay Sethi, Co-founder of Darwix AI.
What’s next: These companies will use the fresh capital to expand their operations, enhance their technology capabilities, and accelerate growth in their respective markets.