Monday, February 26, 2024
HomeInsightFunding Alert seafund Invests INR 5 Cr into Five Startups

[Funding alert] seafund Invests INR 5 Cr into Five Startups

seafund Invests INR 5 Crore into Five Startups. These are in Evhicle, Swapp Design, Simatricals, Redwings and Docker Vision. Docker Vision accelerates shipping container mobility at ports and provides real-time condition assessments by utilizing computer imaging and artificial intelligence.

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The 20 percent of the fund’s investible corpus will go toward clean energy and the electric vehicle value chain, which includes industries like logistics, transportation, and the circular economy.

Read also – [Funding alert] Scapia Raises $23 Mn in Series A Round led by Elevation Capital and 3STATE Ventures

Manoj Agarwal, Managing Partner, SeaFund says, “We believe that the EV landscape in India is at its nascent stage and the opportunity from clean mobility to EV Tech is now beginning to be explored as more investors are understanding the thesis of growth. We take pride in the fact that for us sustainability and EV related sectors have always been a priority and it is now that we are seeing real innovation across the value chain. We will continue to help our portfolio companies to scale and continue to look for fresh investment opportunities in this sector.”

Read also – [Funding alert] Kiwi Secures $13 Mn Funding led by Omidyar Network India

Narendra Bhandari, General Partner, SeaFund, says, “As we continue to raise our second fund, we are seeing a huge interest in the Indian EV landscape from the LPs. The wider conversation is that the shift towards cleaner and more sustainable models is no more a choice but a necessity given the fast deterioration in the environment in our cities. Coupling this with disruptive startups emerging from several corners of India is encouraging early investors like us to work with the founders and provide them with capital and access to grow their businesses.”

Read also – [Funding alert] Baaz Bikes Secures $8 Mn in Series A Round led by BIG Capital

“Adoption of EVs is accelerating in India and has reached a tipping point through the alignment of government policies, a homegrown ecosystem of design and manufacturing entities and now, the availability of capital to fund these ventures. The early adopters of EVs are the B2B logistics and supply chain players who are using these for last mile delivery as the economics make for a compelling use case. ESG goals of the enterprises and policy makers are propelling EV adoption at a rapid pace in this sector,” adds Mayuresh Raut, Managing Partner, SeaFund Ventures.

Read also – [Funding alert]Purple Style Labs Raises $8 Mn in Series-D Funding Round

About seafund

seafund is a SEBI registered Category 2 Alternate Investment Fund (AIF) and invests in start-ups and early stage companies. The Partners and Mentor network build on our expertise in Information Technology, Mobile, Internet of Things and Machine Language to invest in industries across Fintech, Enterprise SaaS, Semiconductor tech, Space tech and Health care.

Team VS

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