Str8bat and ZEVO Propel into New Ventures with Fresh Funding

Sports technology firm str8bat secures $3.5 million to boost product development and market expansion. Meanwhile, EV mobility platform ZEVO garners $2 million for city expansion and vehicle deployment efforts. Furniture retailer Furnishka raises Rs 27 crore to enhance product design and geographic outreach.

In a significant development, sports technology company str8bat has successfully raised USD 3.5 million in a funding round spearheaded by Exfinity Venture Partners. This fresh capital infusion will enable the company to fuel its growth trajectory, explore new markets, and innovate on products that cater to athletes at all levels, according to co-founder and CEO Gagan Daga.

Meanwhile, ZEVO, a tech-enabled EV mobility platform, has secured USD 2 million from Pegasus India Fund and other investors. The funds are earmarked for deploying 5,000 electric vehicles and establishing fulfilment centres in strategic locations, co-founder Dhruv Bhatia noted. The platform aims to expand its reach in newer cities and fortify its presence in tier 2 and 3 urban areas.

Furniture retailer Furnishka has also made waves by raising Rs 27 crore, as led by IndiaQuotient. The investment will drive advancements in product design, manufacturing, and supply chain efficiency, as well as facilitate expansion into new regions. High-profile investors like Sujeet Kumar from Udaan and Ramakant Sharma from Livspace also participated in this round.

(With inputs from agencies.)