Next Bharat Ventures, an India-focussed impact investment platform set up by Japanese automaker Suzuki Motor Corporation, has invested Rs 20.76 crore (around $2.2 million) across five new startups from its second fund, which it rolled out about two months ago.
It invested Rs 9 crore in Blackfrog Technologies, which manufactures portable cooling device and vaccine carrier ‘Emvólio’ for last-mile delivery in remote and infrastructure-constrained regions.
The fund has also infused Rs 7.5 Cr for eBik. The startup builds electric mobility solutions for gig workers, hawkers and delivery personnel. It has put in another Rs 2 crore in CIBOS, which provides solar-powered cooking solutions for street vendors; Rs 1.26 crore for Velaan Mart, which connects farmers directly with institutional buyers; and Rs 1 crore for SGB Agro, which develops low-vibration farm equipment to reduce manual labour.
Next Bharat Venture’s Chief Executive Vipul Nath Jindal said the fund has received capital commitment from four Japanese Limited Partners for the fund–Hakuhodo DY Holdings, Shizuoka Bank, Kanemats, Toyota Tsusho. Suzuki is the anchor investor for the fund.
Climate-tech startup YOGa Clean Air has raised Rs 20 crore (around $2 million) in funding, led by Info Edge Ventures, the venture capital arm of Sanjeev Bikhchandani-led Info Edge (India) Ltd, which operates platforms such as Naukri.com and 99acres; Deepinder Goyal, founder of Zomato/Eternal; and Three Words Capital also participated in the round.
VCCircle exclusively reported the development earlier this month.
The startup, which is operated by Yogan Solutions Pvt Ltd, offers indoor clean-air solutions. It was founded by Sachin Panwar in 2010. It relies on a clean air bubble system designed to treat the air across an entire room or building rather than having people depend on a small standalone purifier.
It will use the capital to go deeper into the cities it already serves, expand into new tier-II and III cities, and extend its systems into public transport and other outdoor environments.
