ParkMate, Homversity, and Althion Secure Funding to Drive 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.

Cactus Partners Leads USD 1.2 Mn Funding for ParkMate's Growth and Expansion

Smart parking solutions provider ParkMate has secured USD 1.2 million in a funding round led by early growth-stage venture fund Cactus Partners, with participation from Venture Catalysts and the Marwah Group Family Office.

The company plans to utilise the funds to fuel growth, enhance its team, streamline operations, and develop innovative solutions.

Co-founded by Abhimanyu Singh and Dhananjaya Bharadwaj, ParkMate offers advanced parking management services for shopping malls, office complexes, hotels, and government parking spaces.

Its flagship service, DaSH (Drop & Shop), guarantees parking within two minutes for car owners, gaining traction with high-profile clients like DLF, Phoenix Mills, and the UP and Telangana Governments.

The company is also eyeing opportunities in smart cities, a burgeoning market for tech-driven parking solutions. However, ParkMate faces stiff competition from players like Park+, Get My Parking, and Park Smart. Notably, Park+ recently expanded into on-demand driver services, creating overlap with companies like DriveU and Cars24.

For Cactus Partners, this marks its eighth investment since 2021, adding to a diverse portfolio including Lohum Cleantech and Vitraya Technologies. The funding underscores ParkMate's potential to reshape urban mobility and strengthen its position in a competitive market.

Homversity Secures USD 1 Mn Pre-Series A Funding to Revolutionise Student Housing

Ahmedabad-based Homversity, a student housing network platform, has raised USD 1 million in a pre-Series A funding round led by Shuru-Up, Inflection Point Ventures (IPV), Value Angels, Vinners Group, TAS, Pro-Growth Ventures, and Growth 91, among others. The company had previously raised USD 378K from Shuru-Up and additional backers.

The funds will be used to establish a scalable premium student housing operator model and enhance the platform's reach and offerings, creating a safe, hassle-free ecosystem for students across India.

Founded in 2019 by Saurav Kumar Sinha, Homversity addresses key challenges in India's student housing industry by focusing on high-quality accommodations, healthy meals, and robust support systems, including a 100% refund policy on cancellations.

The platform seeks to eliminate the burden of food and living costs, ensuring students from rural and urban areas alike can concentrate on education, networking, and personal growth.

Speaking about the investment, Ankur Mittal, Co-Founder of IPV, stated, "Homversity is tackling critical issues for students, providing solutions that ensure a high standard of living and healthy meals, enabling them to focus on their futures."

Homversity's comprehensive database and insights into tenant and landlord pain points enable it to offer tailored solutions. Saurav Kumar Sinha, Founder and CEO, emphasised, "With IPV's expertise and our commitment to solving the student housing problem, Homversity aims to become India's largest premium student housing brand."

IAN Group Leads INR 3.6 Cr Round for Water-Tech Pioneer Althion

Hyderabad-based water-tech innovator Althion has secured INR 3.6 crore in a pre-Series A funding round led by IAN Group powered BioAngels, with participation from prominent investors including Arun Seth, Om Manchanda, KNK Venkatraman, and Shubham Rastogi.

The funding will enable Althion to pilot 40 units of its cutting-edge tabletop laboratory water purification system, expand R&D efforts on sustainable kidney dialysis solutions, and establish a larger facility to scale operations.

Founded in 2017 by Surya Rao, Althion specialises in ultra-pure water (UPW) systems tailored for healthcare, research, and semiconductor industries. The company's innovations, backed by BIRAC and aligned with the Make in India initiative, are trusted by renowned institutions such as Sir Ganga Ram Hospital, Homi Bhabha Memorial Cancer Centre, and Narayana Hrudayalaya.

Althion's proprietary Remote Monitoring System (ARMS) ensures predictive and preventive maintenance, bolstering its competitive edge. Its cost-effective solutions aim to reduce dependency on high-cost imports while enhancing operational sustainability.

"This funding strengthens our R&D and manufacturing capabilities to transform UPW production and recycling," said Surya Rao, Founder of Althion. The company's expansion includes CE marking and USFDA certification to tap markets in Latin America, Africa, and Asia.

Padmaja Ruparel, Co-founder of IAN Group, expressed confidence in Althion's vision, stating, "Their focus on sustainability and indigenisation positions them to make a significant impact in healthcare and research sectors while advancing the Make in India mission."

Althion is set to redefine water-tech solutions, addressing critical gaps with sustainable, high-quality offerings.