The fundraise closely follows earlier reports that the International Finance Corporation (IFC), a member of the World Bank Group, was evaluating a USD 35 million commitment, along with a potential USD 30 million co-investment.
This week saw significant funding activity across diverse sectors, from AI governance to cloud networking and consumer brands. Here's a closer look at the standout startup funding deals.
House of Rare, which owns Rare Rabbit, offers premium men's apparel under Rare Rabbit, women's fashion under Rareism, and children's clothing under Rare Ones.
Founded in 2011 by IIT and Harvard alumnus Sameer Maheshwari, HealthKart is a consumer nutrition platform, operating digital-first brands like MuscleBlaze, HK Vitals, and Gritzo across key nutrition segments.
The newly acquired funds will enable the brand to expand to over 350 locations within the next 30-36 months, drive product innovation, and explore new sales channels.
The Bengaluru-based brand plans to use the fresh funding to enhance manufacturing capabilities, focus on digital brand building, and amplify marketing activities. The funds will also support the expansion of sales and distribution channels to reach a wider audience.