Latest News | Constelli Raises USD 3 Million from Pravega Ventures

New Delhi, Jan 16 (PTI) Defence tech startup Constelli has raised USD 3 million in a funding round led by Pravega Ventures and plans to use the capital for capital expenditure and research and development (R&D) for future products in the pipeline, impacting innovation in the sector.

Constelli was founded in 2017 by Satya Gopal Panigrahi and Avinash Chenreddy.

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The startup provides signal-processing solutions for the defence sector. Its customers include the Ministry of Defence, India, and the Defence Research and Development Organization (DRDO), among others.

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**** *Fambo raises Rs 21 crore

Foodtech startup Fambo has raised Rs 21 crore in a funding round led by EV2 Ventures, with participation from Rajesh Sawhney and several Ultra High Net Worth Individuals (UHNIs).

The company plans to use the funds to scale its operations across India, establish an export vertical, invest in technology, and grow its network of partner farms.

Founded in March 2022, Fambo connects farmers directly with restaurants, hotels, and cloud kitchens through its AI-based platform to ensure fresh produce, minimise waste, and maintain quality. It serves over 500 restaurants and cloud kitchens, including major brands like Burger King, McDonald's, California Burrito, Burger Singh, Farzi Café, and Barbeque Nation.

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*TyrePlex raises Rs 20 crore

B2B tyre marketplace TyrePlex has raised Rs 20 crore in a funding round led by PeerCapital and plans to use the funds towards accelerating growth in multiple areas.

TyrePlex also plans to expand its geographic footprint into the top 25 cities across India and strengthen its technology platform to further enhance dealer-centric tools and improve operational efficiencies, a company statement said.

Additionally, TyrePlex will pilot tyre recycling and reverse logistics initiatives, addressing key sustainability challenges in the industry.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)