New Delhi, June 26 -- Cafe chain Alienkind and wealth management platform Finnovate Financial Services have raised fresh funding to support expansion, strengthen technology capabilities, and launch new offerings.
Alienkind
Cafe chain Alienkind has raised $3.2 million (Rs 30.2 crore) in a pre-Series A funding round from existing investors, including Prakash Sikaria, founder of Super.money, Flipkart senior vice president Ravi Iyer, Bain & Company's global innovation head Arpan Sheth, and other investors.
The startup said it will use the capital to expand into new markets and prepare for a larger Series A funding round in the coming months.
Founded by Vikram Kakkireni and his team, Alienkind operates a design-led cafe brand focussed on immersive spaces, community-driven experiences, and lifestyle-oriented food and beverage offerings.
The company said it is targeting an annual recurring revenue of $10 million by FY27 and plans to expand to 100 stores across major Indian cities by FY28. Alienkind said it has scaled across multiple cities within 16 months of launch and is positioning itself as a next-generation consumer brand targeting younger customers.
Finnovate Financial Services
Wealth management platform Finnovate Financial Services has raised about $2 million in a funding round from a group of angel investors.
The Mumbai-based company said the fresh capital has been deployed towards obtaining its portfolio management services (PMS) licence, strengthening its technology platform and mobile application, expanding marketing and business development efforts, and supporting the launch of its upcoming multi-asset PMS strategy.
Founded by Nehal Mota and his team, Finnovate positions itself as a financial fitness platform offering personalized wealth management and financial planning services. The latest funding follows the company's $1 million angel round in 2023.
Finnovate's PMS licence enables it to offer professionally managed investment strategies to clients. The company plans to launch a multi-asset PMS offering aimed at providing diversified exposure across asset classes as it expands its presence in India's growing wealth management market.
Published by HT Digital Content Services with permission from VC Circle.