Founder and CEO of the Puneri cleantech startup PadCare, Ajinkya Dhariya took to twitter to announce the delightful news of securing Rs 5 crores in seed funding. The startup has earlier wowed the desis and sharks alike with their innovation around menstruation pads. Following their pitch, the founder was offered a blank cheque by Lenskart’s Peyush Bansal in Shark Tank India’s second season. The startup now aims to scale up in 6 cities and expand its services to residential communities and buildings. PadCare is also gearing up to enter Tier 2 and Tier 3 cities now. It is also eyeing the global market via Singapore now.
It’s delightful for me to announce that we have raised 5 Crore in our Seed funding round. It’s an honor to have @SocialAlphaIN @LavniVentures @3iPartners @Rainmatterin and #SpectrumImpact join our sustainability journey. pic.twitter.com/Qdffis8FK5
— Ajinkya Dhariya (@Ajinkya_Dhariya)
Social Alpha, Lavni Ventures, 3i Partners, Spectrum Impact, and Rain Matter have invested in PadCare. Ajinkya writes that their passion for sustainable menstruation is now doubled. The joy is manifold we assume. Not an easy task securing funds given the current economic climate, even as startups vanish like wafers.
Speaking of raising funds or capital, one of the Sharks narrated their struggles in the initial days of setting up their venture. Anupam Mittal of Shaadi Dot Com. After the dotcom crash, the maverick came back to India and started on his own. During the mid 2000s when the competition grew, Mittal needed more funds. There were no VCs around in India back then. Mittal flew to the US and scoured the Silicon Valley to no avail. However, hard work always pays, and he managed to secure funds. After initial struggles, the likes of Anupam Mittal, Peyush Bansal, Ashneer Grover, Namita Thapar, Amit Jain, Aman Gupta, Vineeta Singh, Ghazal Alagh etc. are VCs now setting a firm foundation for budding startups like PadCare and the likes.