Fitterfly, Tarrakki raise early-stage funding

Mumbai-based Salvem health, which runs digital therapeutics (DTx) platform Fitterfl,y announced on Wednesday that it has raised $3.1 million (Rs. 22.3 crore) in an early stage, dubbed pre-series A, round led by Fireside Ventures. 

9Unicorns, Venture Catalysts and clutch of angels investors from India, USA and Singapore also participated in the round. 

The startup will be investing the funds in working on the product while targeting scale, reach and awareness. With this round, Kanwaljit Singh, managing partner at Fireside Ventures also joins as a board member. Fireside is known for investing in companies such as boAt, Mamaearth, Vahdam and Yogabar. 

“We plan to expand our DTx portfolio and invest in developing AI and smart health tracking tools. The timely and relevant real-world data generated will enable beneficial interactions between patients, caregivers, and support networks to permit personalized and human-centric treatments with greater transparency and improved outcomes,” Dr. Arbinder Singal, co-founder and CEO, Fitterfly said in a statement.  

In June 2019, Fitterfly had raised a seed round of $1 million from HNIs, family and friends. 

Founded in 2016 by Singal, Shailesh Gupta, and Jayesh Sawant, Fitterfly offers scientifically validated and personalized digital therapeutics (DTx) programs for diabetes, pregnancy, and PCOS and obesity to deliver health outcomes that truly matter. The over 140-member strong team comprises senior doctors, nutritionists, psychologists, fitness experts, management experts, and technologists. It claims to have over 10,000 subscribed patients.  

Tarrakki  

Plutonomic Savtech, which operates wealth management platform Tarrakki, has raised an undisclosed amount in pre-seed funding from a clutch of angel investors including Kiran Shetty - CEO and regional head India and South Asia - SWIFT,;Asit Oberoi, managing director, Asia Pacific, Buckzy Payments and Safir Anand, well known investor, IP Lawyer and Strategist. 

The fresh capital will be used to accelerate the product development process and focus on expanding its reach for first time investors. 

“With the fresh round of growth capital, we plan to launch new products and expand our portfolio by offering an extensive range of alternatives to our investors to pick and choose from based on their requirements which includes digi-gold and other alternative investment asset classes. With the influx of this fresh capital we can now expand our footprint across key states of India,” Saumya Shah, founder, Tarrakki said in a statement. 

Ahmedabad-based Tarrakki was founded in 2018 by Shah and Ram Dadhich. It offers mutual funds, equity and other investing led products for retail investors. Tarrakki had previously raised an undisclosed angel round in November 2020. Till date, the company has cumulatively raised $225,000 in funding. 

Freyr Energy 

Solar energy startup Freyr Energy on Wednesday announced an equity investment of Rs 18 cr (around $2.3 million) from Total Carbon Neutrality Ventures, Schneider Electric Energy Access Asia and C4D Partners. 

Funds raised in this round will be used to accelerate growth and further enhance customer experience. 

Founded in 2014, the company caters to residential and MSME sectors across 22 states in the country. 

“Freyr Energy has fully digitalize d the customer journey thanks to its proprietary software environment SunPro+. We are convinced that this innovative software will ease the acquisition of rooftop solar customers and facilitate the entire customer journey from acquisition through to financing, execution and after sales service. We see SunPro+ as a key success factor for Freyr’s development,” Florian Temime, principal, Total Carbon Neutrality Ventures, said in a statement. 

MyDentalPlan  

Bengaluru-based healthtech startup MyDentalPlan Healthcare today announced that it has secured a seed funding of $700,000 (about Rs 5.2 crore at current exchange rates) from Safe Planet Medicare. The funding will be used to invest in marketing push and expanding into oral healthcare space.  

Having made significant inroads in the wholesale market, MyDentalPlan is now planning to foray into the retail business. 

Started in February 2015, by dentists Dr. Mohender Narula, Dr. Anand Krishna, and Dr. Girish Rao, MyDentalPlan aggregates dental service providers and dentists through a system of detailed audits and checks. The startup has enrolled more than 3,500 verified dentists in 1,000 plus audited clinics to offer the best dental care and is currently present in over 150 cities in India and has been clocking 2X growth year on year. 

"MyDentalPlan has been committed to bringing in a culture of preventive oral care in India. This funding will give a much-needed fillip to the company in realising the vision of the company. Having started this venture as boot-strapped, we are highly fortunate to have support from such good seed-stage investors in India. We hope to continue bringing smiles on millions of faces," Narula, founder, and chairman MyDentalPlan Healthcare said in a statement. 

The startup is planning to expand its footprint to 5,000 clinics across 250 cities by 2021 end.