[Funding roundup] Sunday Design, Yostra Labs, IBISA close early-stage deals

Home decor brand Sunday Design raises $1.5M

Global furniture and home decor brand Sunday Design has raised $1.5 million (Rs 12.5 crore) in a pre-Series A round. Notable investors include QRG Investment & Holdings (the family office of Havells India Limited Founders), Kama Group (family office of SRF Ltd), KCT family office, and other existing investors.

Gautam Baid, Founder and Managing Director of Sunday Design, said, “With this new investment, we intend to “collaborate” with top European designers and grow our footprint in an omni-channel format, introducing new and exciting product lines on a strategic basis. We aim to achieve 100% growth over the coming two fiscal years.”

Launched in October 2021, the company had earlier raised $1.25 million from Baid and his partner Vinit Agarwal, as well as venture capitalists Sanjay Kapoor, Abhishek Goyal, Gurjeet Singh Bains, Sirca Paints India’s Apoorv Agarwal, and I-Evo’s Manan Khetan.

Medtech startup Yostra Labs raises Rs 4 Cr seed round

Founded in 2014, medtech startup Yostra Labs has raised Rs 4 crore seed round led by the Indian Angel Network (IAN), Impact Innovators and Entrepreneurs Foundation (Villgro Innovations Foundation), and the Centre for Cellular and Molecular Platform.

The startup builds devices to help patients of chronic diseases manage their illness better. The fundraise will be used to hire more sales and marketing talent, as well commercialising the product portfolio, optimising the bill of material, and scaling up production.

Yostra has a portfolio of patented products with a focus on diabetes neuropathy that can save complications and enhance the livelihood of diabetes patients. This investment from IAN and co-investors will help Yostra build a business that is sustainable while providing social impact,” said Venkataraman KNK, Lead Investor, IAN.

Agri-insurance startup IBISA has raised seed funding from Ankur Capital

IBISA, an insurtech startup focussed on providing weather-based insurance to small landholding farmers in India, has raised an undisclosed seed fund from Ankur Capital. Ankur is known for backing transformative technologies in deep tech and climate tech.

IBISA was launched in 2019, and initially focussed on providing drought-based insurance coverage to farmers in Tamil Nadu. Today, the startup also provides farmers in Odisha, Karnataka, and Telangana with coverage against excess rainfall, excess wind speed, and drought.

“The unavailability of data has hampered the growth of the agricultural insurance industry  in developing countries for decades,” said Ritu Verma, partner at Ankur Capital. “We are excited to partner with IBISA to transform the scale of available parametric insurance options in countries like India with a vast addressable market.”