India, June 25 -- Women-focused neobanking startup LXME has raised $1.2 Mn (INR 10 Cr) in a seed funding exercise led by Kalaari Capital via its CXXO initiative.

The round also saw participation from a host of other investors, including Singularity Ventures' founder and chief investment officer Yash Kela; Amaya Ventures; Capri Holdings; Aditi Kothari, vice chairperson of DSP Asset Managers, Vivek Vig, Sumit Jalan and Avinash Pahuja among others.

Founded by Harvard Business School graduate Priti Rathi Gupta, the Mumbai-based startup will use the fresh capital to ramp up its market outreach and expand product offerings.

Further, the proceeds will be deployed for brand building, user acquisition across India as well as boosting technology...