KarmaLife raises Rs 44 crore, seeks new B2B partnerships

KarmaLife, an earnings-linked financial solutions provider for the gig and blue-collared workforce and an early wage access platform in India on Friday raised Rs 44 crore in an extension to its pre-series funding round led by Krishna Bhupal's Family Office and existing investor, Artha Venture fund, amongst others.

To talk about the road ahead, Startup Street spoke to the co-founder and CEO of KarmaLife, Rohit Rathi, and the managing partner, Artha Venture Fund - Anirudh Damani.

Rathi said, "For us, the plan is to go both deeper into the segment where we operate in. We are very strong in some of the segments like logistics, transportation, mobility, food-tech, so our plan is to go deeper into that part.

At the same time, we are also discovering the new use cases, new B2B partnerships, where the same use case can be applied to their contract workforce or the gig workforce or the people who are in the lower income bracket."

B2B grocery marketplace, Jumbotail has recorded a 100 percent year-on-year increase in gross merchandise value, reaching Rs 2,262 crore in FY23 from Rs 1,128 crore in FY22.

The company is now eyeing to more than double its net revenue driven by an increase in both the GMV and margins of the company. so where do its FY23 revenues stand, what’s the path to profitability looking like and what more is on the plate for Jumbotail, Startup Street spoke to its co-founder and chief operating officer Ashish Jhina.

Gan.ai, a generative artificial intelligence-based video creation platform, has raised $5.25 million in its seed funding round led by Surge, which is Sequoia Capital India's rapid scale-up programme.

Emergent Ventures and other angel investors participated in the round. Gan.ai helps organizations enhance the video creation process and reach out to their audience effectively, by making personalized landing pages for customers and delivering customized videos via preferred communication platforms.