BitSave, Ikin Global, devx, and True Diamond Raise Funding to Propel Growth and Innovation The Indian startups listed below have successfully raised capital to drive their growth and expansion plans, marking significant milestones in their respective industries.

BitSave Secures Pre-Series A Funding to Revolutionise Crypto Investments

Bengaluru-based crypto investment platform BitSave has raised an undisclosed amount in its pre-Series A funding round led by Leo Capital.

The company plans to use the funds to secure regulatory licenses, enhance its product portfolio, and boost brand visibility, according to a press release.

Founded in 2022 by Zakhil Suresh, Sajal Sharma, Asif Kattakath, and Vishnu Karthkeyan, BitSave caters to working professionals and high-net-worth individuals (HNIs) with long-term passive investment solutions. Its flagship offering, a crypto index product, tracks the Bloomberg Galaxy Crypto Index and supports monthly SIPs, aiming to simplify and de-risk crypto investing.

The platform addresses key pain points in the crypto landscape, such as asset selection, safety, and transparency. It ensures asset security through insured institutional custody, visible on the blockchain via Proof of Reserves and Liabilities. Currently managing assets worth over INR 4 crore for 500+ active clients, BitSave plans to expand its operations to other Asian countries by 2025.

Commenting on the milestone, CEO Zakhil Suresh said, "We are committed to empowering investors with a disciplined, long-term approach to crypto investments. With Leo Capital's support, we aim to build a regulated global platform that prioritizes safety and investor trust."

Ikin Global Raises USD 1 Mn to Expand Smart Lock Solutions

IoT smart lock brand Ikin Global, a subsidiary of SectorQube Technolabs, has raised USD 1 million in its pre-Series A funding round led by Unicorn India Ventures and Callapina Capital, with participation from existing investors.

The funds will be used to enhance Ikin's product line with AI-powered analytics, advanced sensor technology, and industry-specific solutions. The company also plans to expand its team across key regions, including India, the US, and Europe, focusing on bolstering its sales, marketing, operations, and support functions.

CEO Nibu Alias highlighted Ikin's mission to address the security challenges in the logistics and warehousing sectors. "Technology-driven solutions are crucial to safeguarding valuable assets during transit and storage. Our smart locks secure truck doors, shutters, and entire facilities, ensuring advanced protection for companies worldwide," he stated.

Ikin has already secured 2,500 trucks and 1,500 facilities, including large warehouses, vaults, and retail shops. With an order book of 20,000 smart locks, the company targets revenue of INR 30 crore from its logistics-focused solutions. Recent product launches include Portable iSeals, offering a one-year battery life, and Smart GPS Truck Locks equipped with intrusion detection sensors.

Recognised by Forbes India in 2023 as one of 200 companies with global potential, Ikin Global is poised to revolutionize logistics security with AI and IoT-driven solutions across markets worldwide.

Avinya Ventures Backs devx in Pre-Seed Round to Transform E-commerce Solutions

Early-stage venture capital firm Avinya Ventures has led the pre-seed funding round for devx, an Outcome-as-a-Service (OaaS) company specialising in headless commerce solutions. This investment marks a significant milestone for Avinya, aligning with its vision to empower transformative startups in the global e-commerce space.

Based in Surat, devx claims to have achieved a USD 1 Mn ARR in just 18 months, delivering outcomes for renowned retail and e-commerce brands. The company uses a proprietary headless commerce SaaS platform to create omnichannel user experiences, helping brands transition from traditional platform-based systems to headless commerce modules.

Co-founder and CEO Pushpal Maheshwari said, "We're building an AI-first OaaS company with a novel organizational structure and go-to-market strategy. This partnership with Avinya Ventures will fuel our global growth and expand the range of outcomes we deliver for enterprises."

devx claims to have rapidly gained traction, securing enterprise clients and working with top Indian brands like Mokobara and Foxtale. The company is on track for 5x year-over-year growth and plans to prioritize product development and strategic hiring in the coming year.

Gaurav VK Singhvi, Co-founder of Avinya Ventures, commented, "devx's innovative solutions are poised to transform e-commerce. With our support, they'll strengthen their tech team and drive exceptional outcomes for global brands."

True Diamond Raises USD 1 Mn in Seed Round to Redefine Luxury Jewelry

True Diamond, a Mumbai-based lab-grown diamond jewelry brand, has raised USD 1 million in a seed funding round led by Titan Capital, with participation from Huddle Ventures, Zeropearl Ventures, and notable individual investors including Ashutosh Valani, Priyank Shah, Aashka Goradia Goble, Ghazal Alagh, Abhishek Goyal, and Anmol Jain.

The funds will be used to build a skilled team, enhance brand visibility, and create a unique retail experience. True Diamond plans to hire jewelry experts, designers, and sales staff and open exclusive boutique outlets in Mumbai and Delhi, NCR. The company also intends to invest in strategic branding and marketing initiatives to engage sustainability-conscious consumers.

Parin Shah, Co-Founder of True Diamond, said, "This funding will allow us to expand our team, establish boutique locations, and strengthen our brand presence. We're excited to work with our investors to build True Diamond into one of the leading names in the jewelry industry."

Founded in January 2024 by Parin Shah and Darayus Mehta, True Diamond specialises in ethically produced, lab-grown diamonds that mimic the natural diamond-growing process. Their products include rings, earrings, necklaces, and customized pieces.

With a catalog of 5,000 customisable designs, True Diamond claims to boast a 1.7-time repeat purchase rate and aims to make sustainable luxury accessible to a broader audience.