Six Gujarat startups raise Rs 287 crore in four months
The funding covers diverse sectors including artificial intelligence, space imaging, hydrogen-powered drones, insurance and travel technology.
Six Gujarat-based startups have collectively raised Rs 287 crore over the last four months, according to The Times of India. The investments span various sectors such as space imaging, hydrogen-powered drones, artificial intelligence, insurance and travel technology.
In a Series A funding round co-led by Bessemer Venture Partners and Northpoint Capital, Ahmedabad-headquartered insurtech startup InRisk Labs raised $27 million (around Rs 255.8 crore). The company intends to enhance its AI capabilities and expand coverage across motor insurance, marine cargo and climate risks.
Space robotics startup Cosmochute raised $1.5 million (around Rs 14.2 crore) in a pre-seed round led by Prosus Ventures to develop a lunar mobility platform. Meanwhile, travel-tech startup Bucketlistt.com, which is supported by iHub Gujarat, secured Rs 7.6 crore in seed funding to expand its operator network and enter new Indian destinations.
Cellegant Energy Systems, founded by IIT Gandhinagar professor Dr Atul Bhargav, raised Rs 2.6 crore from GVFL Prarambh Fund Trust, CoCreate Aarambh and IIEC. The startup is developing hybrid hydrogen fuel-cell electric drivetrain systems for drones and unmanned aerial vehicles.
GVFL also led a Rs 3.7 crore seed funding round for Ahmedabad-based SpectraGaze Systems, founded by former Isro scientist Arup Banerjee, and invested Rs 3 crore in Edgeverse India. SpectraGaze develops imaging sensors for the space and defence sectors, while Edgeverse India works on rider-assistance systems for two-wheelers.
Mihir Joshi, managing director of GVFL, said advances in hardware and edge AI allow systems to process large volumes of data and make real-time decisions.