March 28, 2023
March 28, 2023
min Read

LetsVenture investors offer 6 LOIs to iStart startups at Rajasthan IT Day

Team LetsVenture

Rajasthan is not only rich in heritage and culture but is also filled with entrepreneurial opportunities. It is on its path to become a hub of innovation and entrepreneurial activity with the state government working towards enabling an ecosystem to support startups to foster innovation, produce new goods and services, create jobs, and strengthen the local and national economies.

Earlier this year, LetsVenture joined hands with iStart Rajasthan, a state-backed initiative to improve the startup investment climate in Rajasthan and foster entrepreneurship. The partnership is geared towards advancing the startup ecosystem in the state and providing startups with the support they need to scale and succeed.

“Our collaboration with iStart Rajasthan was an attempt to support budding startups with unique solutions and innovations. We at LetsVenture strongly believe in the power of backing startups at an early stage, and with this initiative, we hope to create a sustainable startup ecosystem in Rajasthan. We were pleased to see some of the startups receive LOIs from LetsVenture Lead investors at the Rajasthan IT Day and look forward to participating in more such sessions,” said Nakul Saxena.

As a part of this partnership, LetsVenture collaborated with iStart to identify 20 promising early-stage startups to pitch during the investor pitching session at the RAJASTHAN IT DAY - Startup Conclave, held from March 20 to 21, 2023.

Out of the total, six startups - Freshokartz, Regrip, Newendra, Batx, Alt- Mobility and Devnagri - received LOI (Letter of Intent) to invest from the LetsVenture Lead investors.

Here is a sneak peek to better understand what the selected startups offer:

Freshokartz: Jaipur-based agritech startup Freshokartz is helping the farmers by enabling easy access to agri-inputs such as seeds, fertilizers, and pesticides among others for farmers and also helping them sell their produce to the market. The startup also offers crop advisory and financial solutions to farmers. 

Founded in 2016 by Rajendra Lora and Chandrkanta Sahu, Freshokartz is operating in 15 districts and is connected with 90,000 farmers and also has 200 B2B customers.

Regrip: Based in Gurugram, Regrip is India's first re-engineered/refurbished tyre brand for heavy commercial vehicles. 

Founded by Tushar Suhalka in 2021, the startup operates on a B2B and B2B2C model, striving to revolutionize the Indian tyre industry with a sustainable and economical alternative.

Newndra Innovations: Jaipur-based Newndra Innovations builds efficient, lightweight, and carbon-negative exoskeletons to help reduce fatigue and musculoskeletal disorders among workers of several industries, including defense, agriculture, automobile, construction, logistics, medical sectors among others. 

Founded in 2014 by Ganesh Ram Jangir, Ratan Lal Jangid, and Santosh Jangir, Newendra has a total of eight exoskeletons that support different body parts, including spine, waist, hands, legs, arms, and knees.

With 12 patents granted in India, USA, China, Russia, Germany, France, and the UK, Newndra is also supported by Indo-US Science and Technology Forum and BIRAC.

BatX Energies: Gurugram-based BatX Energies has developed an in-house proprietary net zero waste and zero emission process for recycling depleted Lithium-ion batteries. 

Founded in 2020 by Vikrant Singh and Utkarsh Singh, BatX recycles the batteries and extracts the metals such as Lithium, Nickel, Cobalt, and Manganese from black mass (powder extract from the batteries). 

These metals can be then reused by businesses from different sectors. Extracting and reuse of the metals help in reducing excessive mining and helps reduce e-waste.  

Alt Mobility: New Delhi-based Alt Mobility is a full-stack EV leasing platform offering mobility as a service (MaaS) for commercial vehicle users. 

Founded in 2020 by Anuj Gupta, Dev Arora, Harsh Dev Goyal, and Manas Arora, Alt Mobility enables businesses, fleet operators, and drivers to lease electric vehicles on a monthly basis. It offers affordable EV leasing solutions for light commercial electric vehicles and 2W for intra-city transportation.

Devnagri: Delhi-based Devnagri is a human-powered AI translation platform that offers translation services in more than 22 languages. The platform combines machine learning and human intervention to provide efficient, accurate, and contextual translations. 

Founded by Himanshu Sharma and Nakul Kundra in 2018, the startup offers services in translation, real-time translation, and transliteration.

As the startup ecosystem continues to grow and develop, LetsVenture looks forward to more such partnerships to help identify path-breaking startups with unique solutions and help them connect with investors, mentors, and industry leaders.

Team LetsVenture
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