January 31, 2023
January 31, 2023
min Read

[Portfolio Watch] Three startups bag National Startup Awards, BankSaathi seals funding deal, and more

Team LetsVenture

While the future is unpredictable, a good start to the year always sets a higher standard and self-expectations to push our boundaries further. This is why we are happy to revisit the monthly milestones – big and small – of the portfolio startups at LetsVenture as they inch closer towards their missions. 

We are thrilled to share that three startups – Jar, Cogos Technologies, and Revamp Moto – have kicked off the year on a high by bringing home National Startup Awards in their respective categories. 

From business expansions to sealing funding deals, here are some of the key highlights of our portfolio startups this month.

Biggies Burger: Delighting Bangalore with Bigg Cafe


Startup Name: Biggies Burger

Sector: Quick Service Restaurant (QSR)

Founder: Biraja Prasad Rout 

Journey so far: Homegrown burger QSR chain Biggies Burger opened its 12th gourmet burger cafe, Bigg Café in Kasavanahalli, Bengaluru. It plans on launching 50 such cafes in the city. Last year, Biggies Burger raised the seed round of Rs 5.5Cr with participation from LetsVenture after bootstrapping to success for the last decade. 

Started by Biraja Prasad Rout with a small kiosk Electronic City in Bengaluru in 2011, it now runs 71 outlets in 25 cities across the country. The fresh fund will be used for geographical expansion and scale the franchising network as well.

With more than 150 product designs, the chain hopes to incorporate new products customized to various regions. The founder hopes to build the QSR business into a global brand. 

Jar: Starting investments small


Startup Name: Jar

Sector: Fintech

Founders: Nishchay AG and Misbah Ashraf 

Journey so far: Bengaluru-based fintech startup Jar received the National Award in the fintech category. 

Last year, it raised $22.6 million as part of its Series B round led by existing investor Tiger Global. Founded in 2021, the fintech app for savings allows users to invest in gold and offer securities such as exchange traded funds (ETFs) and sovereign gold bonds (SGBs). The app nudges users to make daily savings by investing spare change from their online transactions and automatically investing it in digital gold. With over 4.7 million users on the app, Jar has processed over 100 transactions per minute so far.

BankSaathi: Simplifying finance and banking


Startup Name: BankSaathi

Sector: Fintech

Founders: Jitendra Dhaka and Sandeep Kaler

Journey so far: Social commerce startup BankSaathi raised a fresh funding of $4 million from a group of investors including LetsVenture this month. Delhi-based BankSaathi plans to use the fund on hiring and building its team, product development, technology and business expansion. In 2021, the startup raised two rounds of funding including $200K in seed round from angel investors, followed by another fundraise of Rs 4 Cr. 

Founded by Jitendra Dhaka and Sandeep Kaler, the startup helps customers by understanding their needs and guiding them to the right financial products from banks or NBFCs. It makes financial services accessible to last mile users including the population in Tier II and Tier III cities as well as remote locations.

Revamp Moto: Built to adapt 


Startup Name: Revamp Moto

Sector: Electric Vehicle

Founders: Jayesh Tope, Pushkaraj Salunke and Pritesh Mahajan

Journey so far: Nashik-based EV startup Revamp Moto won the national startup awards in transport service & infrastructure category this month. Revamp Moto and its founder trio Pritesh Mahajan, Jayesh Tope and Pushkarak Salunke rose to fame in the maiden season of Shark Tank India where it bagged Rs 1 Cr from Anupam Mittal and Aman Gupta. Their electric vehicles which are designed to adapt for various needs and purposes. 

Started in January 2021, the startup manufactures electric two-wheelers that can be used by delivery agents to conveniently deliver all kinds of products such as meat, dairy products, and even healthcare and medical products like vaccines with an in-built refrigerator. 

Cogos Technologies: Driving logistics with AI


Startup Name: Cogos Technologies

Sector: Logistics

Founders: Prasad Sreeram and Rama Mohan Katta 

Journey so far: Enterprise logistics startup COGOS Technologies also bagged a national startup award, emerging as a winner in the freight and logistics services. Based in Bengaluru, the startup was founded by Prasad Sreeram and Rama Mohan Katta in 2016 to leverage artificial intelligence (AI) to offer customized service in the unorganized logistic market. The startup had also raised $2 million in pre-Series A funding round in 2021. 

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