New Delhi, Nov. 19 -- Digital marketplace Tractor Junction, logistics-management platform Pidge, music licensing platform Hoopr, Synthio Labs and two other startups have raised early-stage capital in separate rounds.

Tractor Junction

Tractor Junction, a rural-focused digital marketplace for digital tractors and farm equipment, has secured $22.6 million (nearly Rs 200 crore) in its Series A funding in a mix of equity and debt.

The deal comprises $17 million of equity, led by Europe-based impact firm Astanor, which made its first investment in India. Its existing investors Info Edge and Omnivore also participated in the round.

The startup will use the capital to strengthen its digital capabilities, deepen on-ground presence, and further strengthen its fintech capabilities.

Founded in 2018 by Rajat Gupta, Shivani Gupta, and Animesh Agarwal, Tractor Junction offers a full-stack ecosystem for India's rural mobility sector, combining technology, physical infrastructure, and financial solutions. It currently has company owned, company operated stores across 75 cities in 6 states, empowering farmers to buy, sell, finance, and insure used tractors and commercial vehicles with trust and transparency.

Pidge

Logistics startup Pidge has raised Rs 120 crore (around $13.6 million) in a funding round led by La Vida es Chula (LVEC), an entrepreneur-led capital fund founded by entrepreneur and investor Thomas Meyer.

The company plans to use the funds to support its plan to build what it calls India's largest interoperable last-mile logistics operating system. The company is expanding in Tier 2 and Tier 3 cities and is preparing small pilots in a few overseas markets.

The raise comes as Pidge claimed that it saw a ten times jump in annual growth and an annualised revenue run rate of Rs 250 crore. The company says margins have improved and that it expects to move toward profitability. Its valuation has risen more than five times since the previous round.

Hoopr

Hoopr, a music licensing platform, has raised Rs 4 crore ($450,000) in the first tranche of its pre-series A round, led by Inflection Point Ventures (IPV), with participation from multiple family offices and existing investors.

This round values the company at Rs 160 crore (around $18 million) post-money. So far, it has secured Rs 18 crore, but will raise more capital as a part of the round.

It will use the fund to expand Hoopr Smash, its self-serve, automated music licensing marketplace, while deepening its Bollywood, regional, and global music catalogues, besides strengthening product innovation, scale talent, and fuel global expansion.

The company also counts Venture Catalysts, and 91Ventures among its backers.

Synthio Labs

Synthio Labs, a startup that offers voice AI technology to pharmaceutical and biotech companies, has bagged $5 million in its seed funding round led by Elevation Capital.

Peak XV Partners, 1984 Ventures, Y Combinator, and several angel investors from the global healthcare and AI ecosystem also participated in the round, the startup said in a statement.

Synthio Labs was founded in 2024 by Supreet Deshpande, Sahitya Sridhar and Rajashekar Vasantha. It was part of Y Combinator's Spring 2024 cohort. It is headquartered in the San Francisco Bay Area with teams across India and the US.

HomeRun

HomeRun, an on-demand platform for construction and interior materials, has pocketed Rs 9 crore (about $1 million) in a seed round led by Titan Capital and Sparrow Capital.

Consumer Collective by Atrium, Anupam Mittal, Abhishek Goyal of Tracxn, Suraj Nalin of PlaySimple, and Raj Sheth and Gautam Shewakramani of Inuka Capital also participated in the round.

Bengaluru-headquartered HomeRun delivers construction and interior materials to homeowners, contractors and architects. It plans to use the capital to deepen category coverage, expand its dark store network, and invest in technology.

STAN

Social-gaming platform STAN has onboarded the Sony Innovation Fund, the corporate venture capital arm of Sony Group Corporation, as an investor in its Series A round.

The development comes less than four months after the startup said in July it pocketed $8.5 million (around Rs 74.5 crore) in a funding round from major Japanese gaming companies such as Bandai Namco Entertainment Inc, Square Enix and Reazon Holdings, with participation from Google's AI Futures Fund, Aptos Labs.

STAN's platform enables creators to build and monetize communities through shoutouts, subscriptions, and brand-led activations. The platform is available on Android and iOS. It claims to have 25 million downloads and a strong user base in India's tier-2 and tier-3.

"We see that participation of Sony Innovation Fund to STAN reinforces our belief in the strength of our vision and India's pivotal role in the global gaming landscape. Together with our investors, we aim to build the most creator-empowering, mobile-first platform that redefines how gaming communities connect and thrive," said Parth Chadha, co-founder and CEO of STAN.

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