HomeNewsUpliance.ai raises INR 34 Crore in seed funding led by Khosla Ventures,...

Upliance.ai raises INR 34 Crore in seed funding led by Khosla Ventures, valuation soars to INR 143 Cr


Gastropub Dearie plans expansion with 5 new outlets, aims for 60% revenue growth by...

Dearie, a prominent restaurant, bar, and brewery͏ celebrated ͏for its European ambiance and expertly crafted beers, has announced it͏s ambitious expansion pl͏a͏ns͏. By 202͏7͏,...

Espire Hospitality Group to launch new hotel in Ayodhya by Q4 2024

Espire Hospitality Group plans to open͏ a new hotel in Ayodhya in Q4 202͏4. Property͏ to Feature 1͏50 Rooms ͏͏Acr͏oss Two Bran͏ds: The compa͏ny͏ announce͏d that...

Upliance.ai, a burgeoning home appliance startup, has secured INR 34 crore ($4 million) in its seed funding round, spearheaded by Khosla Ventures.

The funding round propelled the startup’s valuation to INR 143 Cr, as stated by Upliance in a statement.

Upliance plans to utilize the fresh proceeds to ramp up the production of its first product, the AI-powered cooking assistant “Upliance,” to 20,000 units per annum in the next six months. The startup also aims to utilize the capital to scale up its revenue to INR 150 Cr by the end of 2024.

Upliance was also recently showcased on Season 3 of Shark Tank India.

Continue Exploring: India’s first AI Cooking Assistant, upliance.ai sets sights on 10X growth and INR 150 Crore revenue after star performance on Shark Tank

Established in 2021 by Mahek Mody and Mohit Sharma, upliance.ai markets an AI-driven ‘Smart Jar’ capable of handling numerous cooking functions, including chopping, sautéing, blending, heating, and steaming.

Equipped with a touchscreen interface, the product utilizes machine learning and AI technologies to streamline cooking processes.

“We are extremely excited about having Khosla Ventures as partners. Their investment is a validation of both the potential of upliance.ai and the traction we have seen in the market,” said upliance.ai chief executive officer (CEO) Mahek Mody.

Commenting on the fundraise, Khosla Ventures partner Rajesh Swaminathan said, “Mahek and his team have built a product that early consumers love and has the potential to significantly change people’s daily eating routines. We are also excited about the health benefits and AI integration capabilities possible with upliance.ai. These are the bold bets we like to take.”

Earlier, the Bengaluru-based startup secured $1.5 million in its pre-seed round from Nikhil Kamath-led Rainmatter Fund, Draper Associates, Rukam Capital, Stanford Angels and Entrepreneurs India, as well as undisclosed cofounders of Ather Energy and Unacademy.

According to upliance.ai, they have recorded a revenue of INR 1.5 Cr as of January 2024 and have sold 750 units since the product launch in January of the previous year. The startup has announced its intention to sell 1,500 units by March 2024 and aims to increase its active community members to 10,000 by the end of 2024.

Continue Exploring: Bangalore-based startup Up aims to revolutionize home cooking with smart appliance delishUp

This comes at a time when deeptech startups have increasingly captivated investors’ attention. Despite the significant time investment required before product launches and the need for extensive research and development, the deeptech sector saw hefty capital inflow in 2023, defying the challenges posed by funding winters.

According to data, funding for Indian deeptech startups surged to over $496 million in 2023, a significant increase from $397 million in 2022. To date, the sector has amassed over $1.5 billion in capital, with notable mega deals, such as GreyOrange’s $100 million+ round, occurring last year.

The sector was notably highlighted in the interim Budget 2024. The government allocated a substantial INR 1 lakh crore corpus to support Indian startups, aimed at fostering research and development within burgeoning industries. Additionally, a new scheme was proposed to promote the adoption of deeptech technologies within the defense sector.

Continue Exploring: A-Listers Spice Up Their Portfolios with Bold Bets on India’s Booming F&B Startups

Latest articles

Luxury goods over INR 10 Lakh to be subject to TCS from January 2025

From January 1, 2025, purch͏a͏sing͏ luxury ͏it͏ems such ͏as Gucci han͏dbags͏, Birkin bags, or...

United Spirits invests in V9 Beverages and Indie Brews to tap into growing non-alcoholic and coffee liqueur markets

As par͏t of its͏ strategy to tap into e͏mergi͏ng growth sectors͏, United Spirits h͏as...

Coca-Cola sees 2% volume growth as India drives 400 Million transactions in H1 2024

The Coca-Cola Company,͏ a l͏͏ea͏di͏n͏g͏͏͏ ͏͏mul͏ti͏n͏ational͏ ͏͏beverage gia͏͏nt, r͏ep͏͏ort͏͏e͏d a 2͏% inc͏r͏e͏͏ase in ͏u͏ni͏t͏...

Modi’s 3.0 Budget: Big wins for startups, MSMEs in food sector; but hospitality sector still crave attention

The 2024 Union Budget, a continued plan for Viksit Bharat has rolled out plans...

Related Articles

Navata Supply Chain Solutions secures pre-series A funding from Equanimity Ventures

Hyderabad-based Navata Supply Chain Solutions has announced the successful closure of pre-series A funding...

Canned wine company The Uncommon secures £1.2 Million in funding for expansion

UK-based canned wine company The Uncommon has secured £1.2 million in funding from existing...

Bollywood actress Kareena Kapoor Khan backs D2C startup Pluckk as brand ambassador and investor

Pluckk, a brand specializing in direct-to-consumer fruits and vegetables, has successfully secured funding from...
× Drop a, Hi?