In Full Blume | November 2024
Updates from portfolio companies
November turned out to be a ‘put our heads down and work’ month. There were, of course, the big funding news, media coverage, and important company milestones, which is a great way to get into the last month of the year.
Read on to know what transpired in November!
Funding, funding, all around
Vecmocon Powers Up with $10M Series A
Vecmocon Technologies (Blume Fund IV), the Delhi NCR-based EV intelligence powerhouse, has raised $10 million (₹84 crore) in a Series A funding round led by Ecosystem Integrity Fund (EIF), with participation from Blume Ventures and British International Investment (BII).
The fresh funds will drive R&D in high-voltage systems, advance 5G automotive connectivity, and establish world-class research infrastructure.
Zopper Insures Future with $25M Series D
Insurance tech innovator Zopper (Blume Fund I vintage) has reinforced its market position with a fresh $25 million (₹210 crore) Series D round, backed by Blume Ventures, Elevation Capital, and Dharana Capital.
The Noida-based insurance infrastructure platform, which has already secured partnerships with 40 insurance companies and over 2,500 ecosystem players, will use the funding to power enhancements to its distribution platform, bancassurance solutions, and after-sales services.
Healthify Muscles Up
Healthify (Blume Fund II), which is taking its AI-powered health revolution global, announced adding $20 million (₹168 crore) to their pre-Series D fundraise. This new $20 million adds to the earlier tranche of $25 million (₹210 crore) raised in 2023. The round, led by existing investors Khosla Ventures and LeapFrog Investments, also saw participation from healthcare mogul Ranjan Pai's Claypond Capital.
With a proven track record of success in India, including a 40-million-strong user base and Stanford-validated results, Healthify is now set to expand into the US market.
The company is fine-tuning its AI to understand local health preferences, food habits, and dialects, ensuring personalized coaching resonates across cultures.
Out to Win a Billion Hearts
Consumertech products startup Billion Hearts Software Technologies, founded by Mayank Bidawatka (formerly with Koo, redBus), joined Blume’s Fund IV portfolio. They raised $4 million (₹33 crore) in seed funding from Blume Ventures, General Catalyst, and Athera Venture Partners. This follows a $250,000 round in September that attracted backing from a who's who of Indian tech, including founders of redBus, Ola, InMobi, and Myntra.
The company is in stealth mode and is slated for rollout in a few months. Mayank is a second-time Blume founder with Blume backing him in his previous startup, Koo.
Portfolio Movers and Shakers
Pixxel’s Picture Perfect Partnership
Hyperspectral imaging and Earth Observation company Pixxel (Blume Fund III) and HeartlandGIS, an agricultural GIS consulting and mapping company, have announced a new partnership.
Under this collaboration, Heartland GIS will leverage data from Pixxel’s 5m hyperspectral satellites to develop a new suite of analytics products, addressing key agricultural challenges like algal blooms, chemical utilization on farms, and crop stressors at the nutrient, pest, and water levels.
LambdaTest Takes Microsoft’s Azure By Storm
Microsoft announced to its dev community that LambdaTest's (Blume Fund III) advanced AI-powered test execution and orchestration platform HyperExecute is now available directly from Microsoft’s Azure console.
This big development for LambdaTest brings AI-powered muscle to DevOps workflows through their KaneAI, which cleverly converts requirements into automated test cases. By seamlessly connecting with Microsoft's developer toolkit - from GitHub to Azure DevOps - and enabling lightning-fast cross-browser testing, HyperExecute is redefining the testing landscape.
The platform's real-time monitoring capabilities and AI-driven maintenance ensure that development teams can spot and squash bugs faster than ever.
Healthify's Internal Talent Steps Up to Lead Tech & Design
In a strategic move that underscores its commitment to nurturing internal talent, Healthify has elevated two key team members to crucial leadership positions.
Abhijit Khasnis, who joined three years ago as VP of Engineering, has been promoted to Chief Technology Officer after successfully steering the company's AI initiatives and international expansion.
Alongside him, Jaishree Garg steps into the role of Director of Design, bringing her global perspective and US market expertise to shape the company's design philosophy.
This announcement comes at a crucial time as the company prepares for its US expansion and further advances its mission of putting a health coach in everyone's pocket.
Work Smarter, Not Harder: Atomicwork's AI Agents Take on IT Service Management
Atomicwork (Blume Fund IV) recently announced the launch of its agentic service management platform to handle routine IT operations and free up IT teams from repetitive tasks while bringing intelligence to service management.
Unlike traditional ITSM tools with rigid rules, Atomicwork's context-aware AI Agents can analyze real-time data and perform tasks across multiple enterprise applications seamlessly.
The platform integrates directly with popular workplace tools like Microsoft Teams and Slack, enabling users to request IT services - from password resets to software access - without leaving their workflow.
SuperK Goes Super Digital
Branded retail chain for small towns SuperK (Blume Fund IV) is revolutionizing retail in Southern Andhra Pradesh with the launch of its new consumer app, marking a significant expansion beyond its successful network of 100+ physical stores.
Already serving 500,000+ families across 80+ towns, the company is now blending traditional retail with digital convenience through its omnichannel platform.
The expansion goes beyond groceries to include home decor and electronic appliances, making it a comprehensive retail solution for tier 3, 4, and 5 towns. With brands like Wakefit and Cashify already onboard, SuperK's tech-driven approach - featuring auto-replenishment and personalized marketing - is transforming how Bharat shops, one town at a time.
Media and Recognition
Swapping Success: Battery Smart Hits Electrifying 50M Milestone
Battery Smart (Blume Fund IV) has achieved a remarkable milestone in India's electric mobility revolution, completing 50 million battery swaps across its network of 1,400 swapping stations.
The company, which handles an impressive 3 million swaps monthly, has transformed the accessibility of electric mobility by eliminating upfront battery costs and providing affordable charging solutions.
CEO and Co-founder Pulkit Khurana shared this achievement with CNBC, highlighting how the company's innovative approach has significantly reduced transportation costs for scooter and three-wheeler operators who rely on their vehicles for livelihood.
Brewing Change: Bambrew's CEO Unpacks the Truth About Eco-Friendly Packaging
In a thought-provoking article for The Economic Times, Bambrew's (Blume Fund IV) Founder & CEO Vaibhav Anant takes a deep dive into India's plastic pollution crisis and the complexities of sustainable packaging solutions.
With India generating a staggering 9.3 million tonnes of plastic waste annually – enough to fill 604 Taj Mahals – Anant challenges common misconceptions about eco-friendly alternatives. He particularly emphasizes how the lack of proper industrial composting infrastructure can undermine the effectiveness of plant-based materials like Polylactic Acid (PLA).
Yulu Rides to Victory: Bags Future Unicorn Award in Two-Wheeler Category
Electric mobility startup Yulu (Blume Fund II) has added another feather to its cap, winning the prestigious HURUN INDIA's Future Unicorn Award 2024 in the Two-Wheeler Automotive segment.
The recognition, received by Co-founder and CFO Anuj Tewari, highlights Yulu's growing influence in India's evolving urban mobility landscape. The award underscores the company's innovative approach to sustainable urban mobility and its potential to reach unicorn status in the near future.