Honestly, MyPickup, and Protonas Raise Early-Stage Funding The startups listed below have disclosed investment rounds.

Honestly Raises INR 3.2 Cr Funding from Better Capital

Honestly, an AI-powered beauty and personal care platform, announced that it has raised INR 3.2 crore in a pre-seed round led by Better Capital, along with participation from Kunal Shah-led QED Innovations and senior leaders from Flipkart, Polygon, and Cred.

The platform aims to deploy the raised funds for the initial product launch and achieve early signs of product-market fit.

Founded in 2024 by Karishma Rathaur and Vivek Madani, Honestly is an AI-powered platform that facilitates peer-to-peer connections to exchange product reviews of beauty and personal care products.

"While social media has helped educate people about skincare, haircare, and makeup, it has also added to the confusion. We're thrilled to be backed by investors who understand the problem. This investment will enable us to build a strong engineering and marketing founding team over the next few months," said Karishma Rathaur, Founder of Honestly.

Its AI analyses each user's order history and matches them with similar users across 100+ attributes, such as skin tone, skin type, age, and gender, to discuss product recommendations. Additionally, its AI evaluates product ingredients to help users understand how new products fit into their routines.

MyPickup Raises INR 1.5 Cr Led by Inflection Point Ventures

EV ride-hailing startup MyPickup has raised INR 1.5 crore in a seed round led by Inflection Point Ventures.

The funds will be allocated for the development of scheduling algorithms, brand building, and optimisation of operations management.

Launched in 2022 by Abhijeet Dattatraya Jagtap, MyPickup is a subscription-based electric auto-rickshaw service provider that aims to offer zero cancellations and zero surge pricing. It addresses urban congestion and pollution challenges in major cities.

Abhijeet Dattatraya Jagtap, Founder and CEO, MyPickup, said, "By offering shared, reliable, and electric commute solutions for office goers and school children, we are committed to scaling our impact in reducing urban congestion and emissions. Our mission is to provide sustainable mobility options that not only improve daily commutes but also contribute to a cleaner and healthier environment for all."

With only a small marketing budget, MyPickup claims to maintain a fleet of seven electric autos, serve 45 customers, record a monthly run-rate of INR 1.5 lakh, and facilitate 800 journeys monthly.

Protonas Secures Seed Funding from Transition VC

Protonas, a startup specialising in low-cost PEM hydrogen fuel cell solutions, has raised a seed funding round of an undisclosed amount, led by Transition VC.

With this fresh infusion of capital, Protonas is set to establish initial manufacturing operations in Chennai and build prototype systems.

David DeVries, Founder of Protonas, said, "We're pleased to welcome Transition VC as a key investor. With their focus on emerging alternative energy solutions and deep connections throughout India, it will greatly help Protonas in its early stages to grow and access not only the Indian markets but international markets as well. We believe it's an exciting time for India's energy transition into hydrogen, and we are excited to be a part of this transformation."

Protonas, a Tennessee-based startup with a Chennai subsidiary, has innovated low-cost PEM hydrogen fuel cell technology. Founded by industry veteran David DeVries, Protonas aims to provide cost-efficient backup power in North America and power fuel cell engines for light-duty transportation in India and Asia.

Additionally, it plans to collaborate with companies in the light-duty transportation and delivery sectors in India to develop carbon-neutral vehicles.