New Delhi, Dec. 23 -- Early-stage startups Prosperr.io and Naxatra Labs have secured funding in separate rounds involving venture capital firms, angel investors and strategic backers, the companies said on Tuesday.

Prosperr.io

Prosperr.io has raised $4 million (Rs 35.8 crore) in a seed funding round led by Jungle Ventures, with participation from Yatra Angel Network, Sadev Ventures and other strategic investors. This takes the company's total capital raised to $5.55 million

Founded by Manas Gond and Dev Kumar in 2022, the Bengaluru-based tax management infrastructure firm said the fresh capital will be used to accelerate product development and strengthen its business-to-business (B2B) sales infrastructure. The company also plans to expand its enterprise platform into adjacent segments such as wealth management.

Prosperr.io offers a platform that enables individuals earning across multiple income sources and jurisdictions to manage tax compliance. For enterprises, it provides tax-saving employee allowances and simplified employee reimbursements using automation and artificial intelligence.

Naxatra Labs

Naxatra Labs, a developer of electric motors for electric vehicles and industrial applications, has raised $3 million in a pre-Series A funding round led by Rainmatter, with participation from founders, operators, and angel investors.

The round also saw participation from Delhivery founder Mohit Tandon, Aspiring Minds founder Himanshu Aggarwal, Paytm's Vijay Shekhar Sharma, Ixigo CEO Aloke Bajpai, iCEM CEO Anupam Jalote, among others.

The startup said it will deploy the capital to deepen its R&D efforts, expand into new high-growth motor applications, scale manufacturing capacity, and strengthen its export footprint.

"Naxatra has successfully taken multiple products from R&D to production, and this funding will enable us to accelerate the development of new product lines, expand our team across the organization, and increase our production capacity to 50,000 motors per month," said Abhilash Maurya, co-founder and CEO of Naxatra Labs.

Founded in 2021 by Abhilash Maurya, Arnav Biswas, and Piyush Verma, Naxatra Labs develops end-to-end motor technology for EVs and industrial applications, ranging from electromagnetic design and validation to final production.

Published by HT Digital Content Services with permission from VC Circle.