Exclusive: Letsventure, Tessol, Consure Medical Raise Fresh Funding

At a time when raising fresh funds is getting difficult for many startups across the world, Bengaluru-based angel network Letsventure, Mumbai-based logistics startup Tessol, and New Delhi-based healthtech startup Consure Medical have bagged new funds.

According to the ministry of corporate affairs (MCA) filings accessed by Inc42, Consure Medical has raised INR 3.6 Cr from Accel Partners and Jungle Ventures’ Jayesh Arvind Parekh.

As part of the deal, Accel Partners and Parekh got 788 and 11 Series B shares for investing INR 3.56 Cr and INR 5 Lakh respectively. The price per share stood at INR 45,230 with a nominal price of INR 10. Previously, Consure Medical raised an undisclosed amount of funding led by venture capital firm Accel Partners with participation from earlier investors – Indian Angel Network, India Innovation Fund and India Venture Partners.

Founded in 2012 by medical device veterans Nishith Chasmawala and Amit Sharma, Consure Medical is a medical device startup which focuses on developing devices for the management of critical care and long-term care patients. With an initial focus on patients in ICU and general wards, Consure Medical’s medical devices aim to enhance care in step-down units, nursing homes and at-home patients.

LetsVenture Raising INR 2.4 Cr Debt

Bengaluru-based angel network platform LetsVenture is raising INR 2.4 Cr in debentures from a slew of angel investors. Some of the notable investors include Neotia Group’s Parthiv Vikarm Neotia, Chand Trust’s Ashootosh Chand, Prickly Cacti LLP’s Ganesh Raju, Ravi Ramani, among others.

Legacy Assets LLP led the round by investing INR 1 Cr in LetsVenture. According to the regulatory filings, LetsVenture issued 24K debentures priced at INR 1,000 per debenture to the investors.

Founded in 2013 by Shanti Mohan and Sanjay Jha, LetsVenture facilitates funding for startups from angel investors. The platform has been backed by the likes of Nandan Nilekani, Ratan Tata and Mohandas Pai.

Tessol Raises INR 1.2 Cr Series A

At a time when logistics has become a challenge for businesses operating in essential services, Mumbai-based cold chain logistics startup Tessol has raised INR 1.2 Cr in Series A round led by 1Funds Domestic Scheme 1 with the participation of angel investors.

Blue Scott Technologies’ Private Alok Sethi and Taruna Gandotra Sethi, Vinay Somani, Arun Khanna and Alok Bhargava participated in the mop-up. Previously, Tessol raised an undisclosed amount in a follow-on equity funding round led by early-stage venture capital platform 1Crowd in 2018.

Founded in 2013 by IIT Delhi-Harvard Alumnus Rajat Gupta, Tessol aims to revolutionise the cold chain distribution space in India using technology-based energy storage solutions. The startup works with FMCG, food processing and ecommerce players in India. Tessol’s cold storage and transportation solutions eliminate the use of fossil fuel for cold chain transport system. Tessol products are marketed across India and are being launched in the UAE to tap the middle-eastern market.

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