Beauty Appliance Brand Protouch Raises $2 Million in Pre-series A Round Led by GVFL

(L-R) Saurabh Nair, Mihir Joshi - MD GVFL, Tanisha Lakhani - Founder Protouch, Dhruvil Soni

Protouch, an emerging Indian beauty appliance brand, has raised $2 million in its Pre-Series A funding round led by GVFL, the pioneer of venture capital in India. Enrission India Capital and Anicut Capital also participated in the round, valuing the company at $10 million.

Founded in 2022 by Tanisha Lakhani, Protouch operates in the fast-growing beauty and personal care appliance segment, offering high-tech yet accessible solutions across haircare, skincare, and grooming. The brand aims to bridge the gap between professional salon treatments and at-home convenience through smart, technology-driven devices.

Protouch’s products are positioned between mass-market low-quality products and premium, high-priced international devices. Its portfolio includes India’s first automatic hair multi-styler powered by Coanda Airflow Technology, the country’s first clinically tested LED-based beauty devices for skin and hair, and a dual-sided trimmer with a ceramic trimming edge. Protouch's products are designed and engineered specifically for Indian hair, skin, and climate conditions, ensuring both performance and longevity.

Commenting on the investment, Mihir Joshi, Managing Director of GVFL, said, “Protouch is addressing a clear and growing opportunity in India’s beauty-tech segment. The brand combines product innovation, design, and consumer insight to bring professional-grade results into homes. We believe Protouch is well-positioned to become a category leader as the demand for high-quality, technology-enabled beauty solutions continues to rise.”

Protouch has already served over 2 lakh customers across India and has also expanded into the Middle East market. It has recorded 15x revenue growth in 30 months while remaining profitable.

The latest fundraise will support the expansion of the product portfolio, boost research & development and innovation, and strengthen online and offline retail expansion. Protouch also plans to introduce new products in the haircare and skincare categories and establish a manufacturing unit over the next few years.

Tanisha Lakhani, Founder of Protouch, said,

Consumers are seeking smarter, faster, and more effective beauty solutions. At Protouch, we are committed to simplifying beauty through innovation and functionality. This investment from GVFL and other partners will help us accelerate our mission to make professional-quality beauty devices accessible to every household.

Protouch is targeting further category expansion and aims to establish itself as a household beauty appliance brand within the next three to five years.

GVFL Backs Biokraft’s Vision for Ethical Protein with ₹2 Cr Bet on 3D Bioprinting Breakthrough

GVFL, one of India’s pioneering venture capital firms, has invested Rs. 2 crore in a pre-seed round in Biokraft Foods, a next-generation food-tech startup developing structured cultivated meat using cutting-edge biotechnology and 3D bioprinting.

Founded in 2023 by Kamalnayan Tibrewal, an alumnus of the Institute of Chemical Technology Mumbai, Biokraft Foods aims to redefine how meat is produced and consumed. The startup is developing India’s first sustainable, slaughter-free, high-quality cultivated meat products using cutting-edge 3D bioprinting technology. For consumers, this means the same taste and experience as conventional meat, a breakthrough in the country’s alt-protein space.

Biokraft Foods, which has previously received support and grants from leading incubators iCREATE, SPTBI, and ICT-NICE, has adopted a hybrid approach that combines cultivated meat with food-safe ingredients, improving affordability, texture, and scalability. The company aims to be the first company to commercialize cultivated meat in India and has conducted over 400 consumer trials with positive feedback.

Commenting on the investment, Mihir Joshi, Managing Director of GVFL, said, “Biokraft Foods is at the forefront of a paradigm shift in the protein ecosystem. Their science-led approach to cultivated meat aligns with GVFL’s focus on backing disruptive technologies with societal impact. We are thrilled to support Biokraft’s vision of ethical and affordable food solutions.”

Kamalnayan Tibrewal, Founder & CEO of Biokraft Foods, said, “Our mission is to leverage biotechnology to craft sustainable food solutions by addressing issues such as climate impact, animal welfare concerns, and inefficiencies of conventional meat production. In the next three to five years, our goal is to make cultivated meat affordable and accessible starting with India and expanding to APAC region. GVFL’s backing is a strong validation of our science, strategy, and vision, and with its support, we are one step closer to bringing real, ethical meat to consumers.”

Biokraft Foods’ products are targeted at consumers who want sustainable choices without sacrificing taste, as well as food manufacturers, restaurants, and retailers looking to overcome the inefficiency of conventional meat and introduce next-generation proteins. Its future product pipeline comprises cultivated seafood and pet food applications using cultivated meat.

The cultivated meat sector is gaining global momentum with regulatory approvals in the US, Singapore, and Israel. In India, the cultivated meat segment is still nascent, but Biokraft Foods is emerging as a first-mover.

QRL Bioscience Secures ₹3 Crore from GVFL to Advance Regenerative Therapies for Chronic Diseases

QRL Bioscience, a cutting-edge biotechnology company dedicated to developing personalised, cell-based therapies for chronic degenerative diseases, has raised Rs. 3 crore in its latest funding round from GVFL, one of India’s pioneering venture capital firms.

QRL Bioscience was founded by Dr. Senthilkumar Natesan, a virologist specializing in HIV, immunology, and cell therapy; Mr. Sanjoy Bhagat, a seasoned business leader with over 20 years’ experience and an MBA from IIM Ahmedabad; and Dr. Kranti Vora, master’s in public health (MPH) from Johns Hopkins University, USA and PhD from University of Maryland, College Park, USA. Together, they combine deep scientific expertise with strong business acumen to advance innovative healthcare solutions.

Founded initially with a vision to transform the treatment of Diabetic Foot Ulcers (DFU) and Osteoarthritis, QRL Bioscience is spearheading a new era of regenerative medicine in India. The fresh capital infusion from GVFL will be utilised to accelerate the clinical trial phase of its DFU therapy and support the preclinical development of its osteoarthritis treatment.

Speaking on the investment, Mr. Mihir Joshi, Managing Director of GVFL, said, “QRL Bioscience is a perfect example of the innovation and scientific rigour that GVFL is committed to supporting. Its living-cell based therapeutic platform has immense potential to address significant unmet medical needs, both in India and globally. We are excited to partner with QRL as it leads the way in pioneering personalised regenerative medicine.”

QRL previously raised a seed fund from Tie India Angel investors.

QRL Bioscience plans to deploy the capital strategically over the next 22 months. The majority of the funds will support the ongoing DFU clinical trial, while the remainder will be allocated to advancing the osteoarthritis treatment product, including formulation development and regulatory preparations.

Dr. Senthil Natesan, co-founder of QRL Bioscience, said, “We are building an Indian company with a global vision by creating truly novel solutions to improve human health worldwide. Our pioneering personalized medicine using living cell-based therapies will address long-standing health challenges. This funding will bring our DFU product closer to market readiness and advance our osteoarthritis therapy to its next major milestone. We are grateful for the confidence GVFL has placed in us and look forward to welcoming additional strategic partners in this round.”

QRL Bioscience has made significant progress since its last funding round. These include initiating clinical groundwork for DFU therapy and achieving key research milestones in osteoarthritis treatment. The company has also laid a strong foundation for market readiness by engaging doctors, identifying distribution channels, and strengthening its supply chain capabilities.

The company is also exploring co-development and co-marketing partnerships in the orthopaedic space to accelerate its go-to-market strategy.

GVFL Leads ₹4 Crore Seed Round in Genexis Biotech to Scale Animal-Origin-Free Protein Manufacturing

GVFL, the pioneer of venture capital in India, led the Rs. 4 crore seed funding round in Vadodara-based Genexis Biotech, a next-generation bio-manufacturing company focused on animal-origin-free recombinant proteins. Benzai10 also participated in the funding round.

Founders

Genexis Biotech will utilise the capital to expand its bioreactor capacity, build downstream processing infrastructure, and launch a new line of smart proteins and recombinant peptidase enzymes. It will also use the funds to strengthen quality control, regulatory compliance, and expand its sales and distribution channels.

Speaking on the investment, Mihir Joshi, Managing Director of GVFL, said, “Genexis is solving a critical gap in India’s biotech value chain by enabling high-quality, animal-origin-free protein production at scale. The company’s R&D strength, infrastructure, and early traction position it well to serve a growing demand across biopharma, food-tech, and life sciences. We are pleased to support Genexis in this transformative journey.”

In the past 12 months, Genexis has developed a range of recombinant growth factors, peptidases, and cell culture reagents. It has established strategic partnerships with pharmaceutical companies, biotech startups, and research laboratories. The company’s certified Class 10,000 manufacturing facility is now operational, with plans underway for a GMP-compliant unit.

Vipul Kumar, Director at Genexis Biotech, said, “At Genexis Biotech, we are building India’s deep-tech backbone for animal-origin-free protein production. The seed round marks a key milestone in our journey and will accelerate our path to scale, enabling sustainable innovation across healthcare, food, and bio-industrial sectors.”

Genexis Biotech recently introduced recombinant peptidases such as amino peptidase and enterokinase, and is preparing to launch recombinant transferrin and albumin. Genexis also signed an MoU with the Gujarat government for scaling up recombinant protein manufacturing and showcased its portfolio at Global Bio-India 2024. It has secured multiple clients and has received orders for alternative protein formulation projects.

In the next phase of growth, Genexis Biotech aims to enter the regulated biotech export market, form strategic collaborations with Contract Development and Manufacturing Organisations (CDMOs), academic labs and biopharma companies. Its plans also include developing encapsulated growth factor formulations for the cosmetics industry.

About GVFL: GVFL is an Ahmedabad, Gujarat based Venture Capital Fund. With over 150+ total investments and 90+ successful exits, It has been instrumental in nurturing and scaling innovative startups across various sectors. GVFL has a diverse portfolio, investing in sectors such as agritech, healthtech, fintech, deep tech, clean tech, defense tech, enterprise tech, and consumer brands.

About Genexis Biotech: Genexis Biotech is a pioneering bio-manufacturing company developing high-quality, animal-origin-free proteins using recombinant technology and precision fermentation. With a robust in-house R&D and ISO-compliant infrastructure, the company serves key sectors like biopharma, regenerative medicine, cell culture media, and cultivated meat. Genexis aims to democratise access to safe, ethical, and scalable biomolecules while contributing to a greener and self-reliant biotech ecosystem.

GVFL Backs DCGPAC's Sustainable Packaging Push with ₹15 Crore Pre-Series A Investment

GVFL, India’s pioneering venture capital firm, has led a Rs. 15 crore pre-Series A round in DCG Tech Limited, a leading B2B platform for packaging, warehouse solutions, and procurement. GVFL has invested Rs. 10 crores in the round, while Auxano Capital and the promoters have participated in the investment round.

Founded in 2005 by logistics veterans Suresh Bansal and Subhasish Chakraborty, DCG Tech (trade name: DCGPAC) was founded to address the packaging needs of MSMEs, e-commerce and quick-commerce brands by offering them a one-stop, cost-effective solution. With over 60,000 customers and 750 million packaging products delivered, the company has established a strong presence through eight fulfilment centres, six sales offices, and a Design and Innovation Centre. It also has a subsidiary in Dubai.

DCGPAC offers a tech-enabled, end-to-end procurement and distribution platform that provides over 10,000 SKUs across 78 categories. It delivers packaging and warehouse products nationwide. The firm’s solutions, such as Design to Distribution, Packaging as a Service, EcoPac for Sustainable Packaging, and the ProPac Platform, aim to bring efficiency and cost-effectiveness to businesses of all sizes.

The newly raised capital will be utilised to accelerate growth, enhance platform technology, and expand international operations. DCGPAC also plans to introduce innovative models such as RePac for reusable packaging to support circular economy and warehouse products.

Commenting on the investment, Mihir Joshi, Managing Director of GVFL, said, “We see a huge potential in DCGPAC’s mission to revolutionise packaging supply chain in India through a robust technology platform and deep supply chain integration. It has already carved a niche in the segment. We are confident that its pan-India reach, strong leadership, and customer-centric innovations make it ideally positioned to become a market leader in this fast-growing segment.”

Suresh Bansal, Founder and CEO of DCGpac

Suresh Bansal, Founder and CEO of DCGpac, said, “This funding round marks a strategic milestone in our journey. With the backing of GVFL and other investors, and our roadmap of smart manufacturing, AI-based technology, and sustainable packaging solutions, we are poised to lead the next phase of growth in the B2B commerce space. Our goal is to become India’s most preferred packaging and commerce platform for businesses. This funding will go a long way in helping us achieve our target of 10x growth in the next five years.”

DCGpac had earlier raised funds in its first seed round from marquee investors, including Haldiram’s and Saudi Arabia-based Zajil. Angel networks like IPV, VCATS and 9Unicorns were among the investors. With the latest round, the company is set to scale operations, launch new services, and accelerate its growth.

Pet Grooming Brand Zoivane Pets Raises INR 5 Crores in Seed Round led by GVFL, Ahmedabad

The startup intends to utilise the funds on product development, increasing quality work force and marketing.

Zoivane Pets, a Gujarat-based pet training and grooming brand, announced that it has raised 5 crores in a seed round led by GVFL, Ahmedabad. This brings the startup’s total funding to Rs. 5.54 crore to date. The startup is backed by We Founder Circle and notable angel investors including Hitesh Dhawan (Founder of Neuronimbus), Dhrumil Patel, Joy Gnanamony and Abhishek Gupta (CEO, APAC & Middle East of Turbotic) in its previous round. Zoivane Pets intends to utilize the funds primarily on product development, increasing quality work force and marketing its various product lines to spread knowledge about them.

The exponential rise in pet ownership during and after the Covid-19 pandemic has elevated demand for pet grooming and health services, creating opportunities for startups like Zoivane Pets seeking to disrupt the pet wellness space. Founded in 2019 by Mrs. Nishma Singhal who is a masters in cosmetics and perfumery from ISIPCA, PARIS and Mr. Kshitij Singhal with an extensive experience in F&B, entertainment and textile industry the brand aims to address the needs of first-time pet owners by facilitating pet training products and grooming products across India.

Zoivane’s unique training range includes patent formulations such as Potty Training Spray, Stay Away Spray, Pets Stain & Odour Remover and others that aid in the easy integration of pets into pet parents’ lives. The brand’s grooming collection features problem-solving shampoos for dandruff, itching, dryness, and hair fall, among other things. The grooming line comes with the goodness of natural active ingredients such as tea tree oil, vitamin E, hydrolyzed wheat protein, milk protein, multivitamins, and so on. Additionally, the product portfolio has procured customized fragrances from Europe certified perfume, which makes the product fragrances unique, long lasting in comparison to what other market participants have to offer.

 

Nishma Singhal, Co-founder of Zoivane Pets

On raising the fund Nishma Singhal, Co-founder of Zoivane Pets affirmed, “In the recent past, Zoivane Pets has dominated the Indian pet care industry. We were able to introduce products that filled gaps in the market and created new categories. By integrating our industry expertise, we seek to become a permanent part of people's lives as pet parenting partners.”

The faith that pet parents people have demonstrated in Zoivane Pets primarily increased our confidence in raising funds and expanding our portfolio. I’m extremely proud of what we’ve accomplished at Zoivane and appreciate listening from pet families who have noticed and experienced benefits in their furry family member from our natural products.” Nishma added.

On the Investment, Mr Mihir Joshi, President, GVFL said “This was in line with its strategy of investing in start-ups that continuously innovate through R&D and Zoivane Pets is a perfect example of that. Zoivane Pet is an emerging brand that has launched a number of innovative products in an affordable range for Pet care and we envision to penetrate the market together.

Before starting Zoivane Pets, Nishma worked with notable brands like Lakme Lever, BASF, Dusseldorf, Ayur International, Greenland Pharma & Naturich, a company based in the United States in research and development department

Under Nishma’s leadership, the brand claims to manufacture pet training products as well as grooming products in India. The brand is selling through Offline and Online channels and have sold over more than 50,000 units of products till date. It has a presence in nearly 500 retail stores in 25 states and 300 plus cities. Brand has the wide presence on online stores such as Amazon, Flipkart, Nykaa, Myntra, and Meesho etc.

About Zoivane Pets

We, at Zoivane Pets believe in addressing everyday pet parent problems. The basis of our products has always been to make pet parents and pets life easier. Which is why the Potty-Training Spray, Stay Away Spray & the Odour Removal Spray are our flagship products.

We truly believe that a pet should be a celebration, not a burden in any family's life. Because....Happy Pets, Happy Us. To know more please visit https://www.zoivanepets.com

Ahmedabad-based GVFL to Invest $14 Mn in Startups Across India

Ahmedabad-based venture finance company, GVFL Limited (formerly Gujarat Venture Finance Limited), announced that it plans to invest ₹ 100 crore ( ~ US$14.46 million ) to fund startups across the country.

The investment will be made by December 2020, confirmed CEO of GVFL, Mihir Joshi, while speaking in a event held in Ahmedabad on Wednesday.

Founded in 1990, GVFL has so far raised eight venture capital funds which have supported over 80 companies and have divested from over 75% of portfolio companies. It provides seed financing and early-stage and growth capital to small- and medium-sized companies based in India.

GVFL CEO further said, "The company has already invested in some eight startups. We have already made an investment worth ₹ 50 crore over the past year and a half to fund some eight startups based in India. Of these, five startups were based out of Gujarat. The average ticket size of investments made so far ranges from ₹ 5-10 crore depending on the fund requirement by these startups,” he added.

GVFL has already made an investment worth ₹ 50 crore over the past year and a half to fund some 8 startups in the country and out of this 5 startups were based out of Gujarat. The average ticket size of investments made so far ranges from ₹ 5-10 crore depending on the fund requirement by these startups,” 

GVFL has recently invested in Optimized Electrotech Private Limited (OEPL), an electro-optics startup working on indigenously designed, developed and manufactured (IDDM) Surveillance systems. Prior to this,
GVFL contributed in $3.7 million funding round of Sequretek, a Mumbai-based cyber security startup.

Source - Times of India

India Funding : Uolo Gets Seed Funding; Drishti Bags Funding from Nandan Nilekani; Schedulers Logistics Closes Series B Round & More

Student education tracking app Uolo has raised $210,000 (around Rs 1.4 crore) in seed funding; Infosys co-founder Nandan Nilekani has invested an undisclosed amount in Bangalore-based Drishti; micro finance company Annapurna has raised Rs 35 crore equity infusion; education and skill development firm, Rise India has acquired a majority stake in tutor aggregator Padhopadhao.com; Gujarat-based venture fund, GVFL Ltd has invested Rs 40 crore in Schedulers Logistics India Pvt Ltd. and Mobikon has acquired MassBlurb, an automated online marketing platform for restaurants.

Student Education Tracking App Uolo Raises Seed Funding from Purvi Ventures

Uolo Technology Pvt. Ltd. backed student education tracking app Uolo has raised $210,000 (around Rs 1.4 crore) in seed funding. The funding was led by Purvi Ventures, Sunstone Business School director Rajul Garg and Vipin Arora, compensation director-Asia Pacific of Honeywell India.

Other investors who participated in this round include Exponentially I Mobility LLP and Artieca Family Trust. Six individuals also participated in the funding round. The deal was closed in February this year, as reported by VCCircle.

The funds will be used by the firm to upgrade the tech infrastructure, and on-board more schools.

Drishti Secures Funding from Billionaire Nandan Nilekani

Infosys co-founder Nandan Nilekani has invested an undisclosed amount in Bangalore-based Drishti, an eye care chain focused on providing affordable treatment in underserved markets.

With this new funding, Drishti will expand its reach to six more districts in Karnataka in the next phase of expansion, as per ETTech report. The latest funding in Drishti will mark the ninth venture that has been backed by Nilekani, who has actively invested in early-stage startups in the recent months.

Micro Finance Company Annapurna Raises Rs 35 Cr from Oikocredit

Bhuvaneshwar based micro finance company Annapurna has raised Rs 35 crore equity infusion from Netherlands based equity financing company Oikocredit, as per ET report.

Annapurna operates across 10 states in India and provides financial support to low income groups to help improve their standard of living. Its client base comprises more than 0.7 million borrowers with assets under management of approximately Rs 950 crore as on March 2016.

Gurgaon Based Rise India Buys Majority Stake in Padhopadhao.com

Gurgaon-based an education and skill development firm, Rise India has acquired a majority stake in tutor aggregator Padhopadhao.com as it aims to establish its presence in the online tuition market.

Rise India has acquired 60% stake in Padhopadhao.com, as per VCCircle report.

Financial details of the deal are still undisclosed by both the companies.

The acquisition will help the portal expand operations to cities such as Mumbai, Jaipur, Chennai, Chandigarh, Bangalore and Hyderabad.

Schedulers Logistics Raises Series B Round from Gujrat Venture Fund GVFL

Gujarat-based venture fund, GVFL Ltd has invested Rs 40 crore in Mumbai based integrated cold chain operator Schedulers Logistics India Pvt Ltd. Schedulers operates a fleet of reefer vehicles and temperature controlled warehouses across India. The transaction marks the second round of growth financing for GVFL's first exposure in the logistics sector.

"The funding will help Schedulers to get on an exponential growth curve by getting aggressive in capacity additions and furthering pan India presence including Gujarat by augmenting reefer fleet as well as cold storage capacity" said Arvind Gangoly, Co-founder & CEO, Schedulers.

Mobikon Acquires Automated Online Marketing Platform MassBlurb

Marketing Platform for the F&B industry, Mobikon, has acquired MassBlurb, an automated online marketing platform for restaurants.

As part of the acquisition, founders of Mumbai-based MassBlurb, Sanket Shah and Pankit Chheda will be taking up key roles at Mobikon. While Sanket will be managing the key accounts and partnerships across the company, Pankit will work closely with Mobikon’s CTO for new product initiatives. MassBlurb’s team will also join Mobikon as a result of this acquisition.

Mumbai-based MassBlurb is currently working with 200+ premium restaurant brands across India, automates everything a restaurant needs in the social space. It is present in 6 other cities across India.

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