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Gem agrees to pay $200 million to Instory;  Rozana Pockets $2.5M in Pre-Series A Round;  Wickedgud Raises $1M From Mumbai Angels & Incruiter Raises Debt Funding From Getvantage

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GEM commits $200 million investment in Instory tied to IPO

Instoried, an AI pre-release sentiment analysis tool startup, has received a $200 million investment from Luxembourg-based private alternative investment group GEM Global Yield (GEM).

The company has signed an agreement with GEM, under which the latter will provide an equity subscription facility of up to $200 million, to be drawn at the option of Insider, for a term of 36 months following an IPO. Instoryd is looking to go public via SPAC or traditional IPO.

The announcement comes after the startup raised $8 million in its Series A funding round led by Pritt Investment Partners and 9 Unicorns, last year. The company said this new injection of capital has made it the fastest growing deep tech startup led by a female founder.

The company intends to use the new capital to expand its global marketing efforts, primarily in the United States, and invest in its technology to add a Google Chrome extension, WordPress plugin and other items to its product portfolio. Instoried is actively looking to add US-based roles including Head of Sales, Growth Hacking, and Operations.

Additionally, the team has aggressive plans to grow its leadership team and presence to double down on its mission to help writers, marketing agencies, students, professionals and more use Instoryd to write content. more empathetic, original and more alive.

For the Indian market, Instoried said it will focus on hiring management and technology positions, develop the technology stack to launch its own content generation tool, and invest in marketing in the Indian and Asian markets.

P2P rural commerce startup Rozana pockets $2.5 million in pre-Series A

Social commerce platform Rozana has raised $2.5m in a pre-Series A funding round co-led by 3one4 Capital and European group IEG-Investment Banking.

The round also saw the participation of notable angel investors like Manisha Girotra, CEO, Moelis and Board Member, Prosus (formerly Nasper) and SK Jain, Co-Founder, Sequoia & Westbridge Capital.

The funds will primarily be used to bolster the platform’s technology capabilities and further expand Rozana’s presence in targeted geographies across the country, including Haryana, Uttar Pradesh and Karnataka, the startup said in a statement. .

Rozana is a complete technological solution that allows micro-entrepreneurs to offer broader, innovative and competitive offers to their end users. Entrepreneurs use the platform to onboard customers, share the latest deals, and help them place orders online, making last-mile delivery efficient.

The platform said it was working on a roadmap to onboard 300 million users in the next 2-3 years. In nine months, Rozana has reached more than 4 million households and is working on steady month-over-month growth, the company added.

D2C food brand WickedGud raises $1 million from Mumbai Angels and others

D2C food brand WickedGud has secured $1 million in a seed round led by Mumbai Angels and other high-profile investors.

Mumbai Angels has invested $350,000 as part of its portfolio expansion initiative supporting promising and high-potential startups. The remainder of the investment was made by NB Ventures, Dholakia Ventures, Jalaj Dani Family Office, Ashutosh Valani and Priyank Shah (Founders — Renee Cosmetics, ex-Beardo), Ravi Shroff (MD — Excel Industries Ltd), Ravi Nigam (ex -MD — Tasty Bite), Ashwini Deshpande (Co-Founder — Elephant Design), Jorge Fernandez Vidal (Chief Investment Officer — Liechtenstein Group) and Akshay Gurnani (CEO — Schbang), among others.

According to the company, the new capital will be used for brand and community development on D2C channels, acquiring more online customers, strengthening the core team and international expansion.

“Packaged food companies display simple symbolism across multiple categories. Our goal is to build a great, clean-label comfort food brand with ambitious aspirations to disrupt global markets,” said Bhuman Dani, Founder of WickedGud.

HR tech startup InCruiter raises debt funding from GetVantage

InCruiter, an interview-as-a-service (IaaS)-based HR technology startup, has raised an undisclosed amount of funds through the Revenue-Based Funding (RBF) round, led by GetVantage.

The debt financing round aims to help the company follow an exponential growth trajectory, the company said in a statement. The company plans to allocate the new capital to product development and also plans to launch several products in the HRTech segment by June.

“With the recently acquired funds, we will add new products to our existing portfolio to create the hiring solutions for the next billion,” said Anil Agarwal, co-founder of InCruiter.

The company claims to have grown sevenfold over the past three months in terms of expanding its team from four members in December 2020 to over 35 members over the past 10 months. He plans to increase the size of his team to 100 members by March 2023.

InCruiter reported revenue of $250,000 in FY20-21 during the COVID-19 pandemic and topped $1 million in FY22. The company partnered with large companies and expects to generate more than $5 million in revenue over the next year, it said in a statement.

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