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BlackSoil invests Rs 35 Cr across five startups

blacksoil funding

BlackSoil Capital, a venture debt fund, announced that it has invested Rs 35 crore as growth capital in five startups, including two-wheeler vehicle financing startup Orange, marketing automation platform WebEngage, D2C FMCG brand Habanero Foods, fintech startup CASHe, and another undisclosed generic pharma company.

The announcement comes a week after BlackSoil announced that it has invested in global consulting firm Kaar Technologies.

Chennai-based Orange runs through 85 branches in more than 11,200 villages across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, and Kerala. It claims to be catering to around 88,500 customers, garnering more than Rs 335 crore assets under management (AUM).

Mumbai-based WebEngage offers a full-stack marketing automation platform, which provides cloud solutions for customer engagement and retention to companies across sectors, including e-commerce, travel and hospitality, BFSI, gaming, edtech, and media and entertainment, among others.

Habanero is a D2C omnichannel brand that provides continental cooking sauces, tortilla wraps, among others through its website, marketplaces, and retail. 

Meanwhile, Mumbai-based CASHe offers personal loans and “buy now, pay later” products to salaried individuals.

BlackSoil has also invested in an undisclosed pharmaceutical company that caters to many categories, including consumer healthcare, respiratory care, primary care, diabetes care, and women’s health.

In a statement, Ankur Bansal, Co-founder and Director, BlackSoil, said, “These companies have shown tremendous growth in their segments and are backed by experienced management and marquee investors. Their unique business positioning and ability to survive through adversities like COVID is what made these companies an attractive proposition for BlackSoil. We are optimistic that our debt capital will help these companies take their businesses to the next level and we will continue to support them throughout their journey.”

 BlackSoil currently manages an alternative credit platform consisting of an RBI-registered NBFC and four SEBI-registered AIFs. It claimes to have deployed more than Rs 2,500 crore across over 135 deals and has an AUM of Rs 1,000 crore.

The investments by BlackSoil would inspire many emerging entrepreneurs to realize their dreams. I’m sure the companies will immensely benefit from the funds. 

Shishir Gupta, Founder and CEO, StartupLanes

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