Theater, Mytek Innovations, and ReCircle Raise Funding The startups listed below have disclosed investment rounds.

Theater Secures USD 1.5 Mn Funding to Revolutionise Fashion Industry

Theater, a digital-first Western fashion brand, has raised USD 1.5 million in its Pre-Series A funding round. Led by Prath Ventures, with additional backing from existing angel investors, this fresh capital will propel Theater toward its goal of becoming India's premier design-driven, mass-premium fashion brand. Specialising in women's footwear, stockings, perfumes, and bags, Theater was founded by Sarthak Aggarwal, Vikram Jain, Karan Jain, and Shruti Aggarwal.

"Our mission is to transform the Indian fashion landscape through a design-centric approach," said Sarthak Aggarwal, Co-founder and CEO of Theater. "We are committed to crafting fashion and lifestyle products that are not only exquisitely made but also timeless in design. This funding empowers us to drive growth through new channels like quick commerce, expand our offline presence, and accelerate our design iteration and production processes."

Mytek Innovations Secures INR 6 Cr Debt Funding to Drive Expansion in AI-Based EPC and Manufacturing

AI-based EPC and manufacturing marketplace Mytek Innovations has secured INR 6 crore in a debt funding round, which will fuel its expansion plans. Founded in 2020 by Shivkumar Borade and Ashwajeet Wankhede, Mytek Innovations was established to address the challenges faced by contractors in managing workforce, machinery, tools, materials, and technology. The platform is designed to streamline business operations across various formats, ensuring sales with minimal customer acquisition costs while maximising operational efficiency.

"We are helping SMEs solve a multitude of problems. SMEs don't have enough working capital to complete the project in defined timelines and also often don't have the capital to furbish performance guarantees. We help them do end-to-end execution across many issues they face," Mytek Innovations Founder and Chief Managing Director, Shivkumar Borade, said.

Headquartered in Mumbai, Mytek's platform is powered by advanced AI tools, blockchain, data analytics, and sophisticated algorithms, making it highly adaptable to the specific needs of various industries. While Mytek currently focuses on civil and electrical services, it plans to expand into sectors such as automobile manufacturing, textiles, garments, and cosmetics.

The company boasts a robust order book, having recorded INR 251 crore at the end of FY24, and is targeting an order book of INR 729 crore by FY25. Mytek also aims to maintain an EBITDA margin of over 23% through its supplier and contractor apps.

Cleantech Startup ReCircle Raises Undisclosed Funds for Diversification and Growth

Cleantech startup ReCircle has secured an undisclosed amount in a bridge funding round co-led by Venture Catalysts, Mumbai Angels, and high-net-worth individuals (HNIs). This funding follows a pre-Series A round from Flipkart Ventures, 3i Partners, and Acumen Fund Inc. The fresh capital will fuel ReCircle's plans for diversification, expansion, and the launch of its own recycling unit.

"We are leveraging our pan-India network of partners, built over the last eight years, to forward integration into the plastic waste supply chain. This will empower us to provide traceability from the source of collection to the final product packaging, enabling businesses to incorporate ethically sourced, traceable materials in their packaging. The funds raised will be crucial in our journey towards diversification, expanding our impact, and launching our own recycling unit in the coming months," said Rahul Nainani, CEO and Co-founder of ReCircle.

Founded in 2016 by Nainani and Gurashish Singh Sahni, ReCircle addresses India's waste challenges by diverting waste from landfills and oceans back into the economy.

The startup has introduced flagship initiatives such as ClimaOne, Plastic EPR Service, Plastic Neutral Programs, and Project Extra Life. Its tech-enabled platform, ClimaOne, addresses existing challenges in the ecosystem by building a unified, transparent platform that provides real-time tracking, backed by data analytics, and simplifies reporting and compliance.

ReCircle intends to work towards ethical circularity and plans to forward integration into the plastic waste supply chain. This will enable it to provide high-quality, traceable recycled plastic content to companies using plastic packaging. The company aims to achieve a revenue of Rs 100 crore in the next financial year.