New Delhi, May 28 -- Agritech startup GROWiT, spacetech company Orbitt Space, investment management firm ILIOS 72 Alternative Capital, and beverage brand TOVA have secured funding in separate early-stage funding rounds, the companies said on Wednesday.

GROWiT

Agritech startup GROWiT India has raised $3 million (Rs 25.6 crore) in a Series A funding round led by GVFL, with participation from Veloce Opportunities Fund, JITO, We Founder Circle, Sunicon Ventures Fund, Progrowth Ventures, and Hyderabad Angels.

The company will use the funds for expansion, to increase its R&D capabilities, and strengthen its technology infrastructure. GROWiT also plans to deepen its domestic market presence and expand to international markets by scaling exports to Africa and other emerging markets, while developing climate-resilient agriculture solutions for smallholder farmers. Founded in 2020 by Saurabh Agarwal and Akshay Agarwal in Surat, Gujarat, the startup provides farming solutions like soil health testing devices, mulch films, crop covers, weed mats, among others. It operates in 12 states and has a network of more than 650 franchise stores.

Orbitt Space

Spacetech startup Orbitt Space has raised $1 million in a pre-seed funding round led by pi Ventures, with participation from IIMA Ventures. The Ahmedabad-based company was founded this year by Christopher Parmar and Anupam Kumar, and is building an air-breathing electric propulsion system and satellite bus platform for ultra low earth orbit (ULEO) operations below 250-km altitude.

The company will use the funds to accelerate the design and development of its proprietary electric propulsion technology and avionics systems, expand its core team of scientists and engineers, and begin testing of its first prototype.

ILIOS 72 Alternative Capital

Wealth management firm ILIOS 72 Alternative Capital has secured Rs 1 crore in seed funding from a group of family offices, marking its first external fundraise. The company will use the funds to upgrade its technology platform, open a new office in Jaipur, and expand its investment advisory team.

Founded this year by Shivansh Sabharwal and Valmik Iyer, ILIOS 72 Alternative Capital provides access to alternative investments opportunities, and has onboarded over 100 clients, including several prominent business families.

TOVA

Yohan and Michelle Poonawalla have invested an undisclosed amount in TOVA, a beverage brand specializing in herb-infused packaged water.

The backing from the Poonawalla Group will likely help TOVA scale its presence across India.

Founded in 2022 by Lakshmi and PS Srinivasan under Ayushkalki Wellness, TOVA claims its herb-infused Ayurvedic water helps boost immunity.

Published by HT Digital Content Services with permission from VC Circle.