New Delhi, Nov. 19 -- Digital marketplace Tractor Junction, logistics-management platform Pidge and a music licensing platform Hoopr have raised early-stage capital in the range of $450,000 to $22 million 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.
Published by HT Digital Content Services with permission from VC Circle.