Venture debt firm BlackSoil invests Rs 35 crore in 5 startups

Mumbai-based venture debt firm BlackSoil Capital, which recently invested in Kaar Technologies, today said it has invested Rs 35 crore ($4.6M) as growth capital in five startups, including two-wheeler vehicle financing startup Orange, marketing automation platform WebEngage, direct-to-consumer FMCG brand Habanero Foods, fintech startup CASHe, and another undisclosed generic pharma company.

“These companies have shown tremendous growth in their segments and are backed by experienced management and marquee investors. Their unique business positioning and ability to survive through adversities like COVID is what made these companies an attractive proposition for BlackSoil," Ankur Bansal, Co-founder & Director, BlackSoil, said in a statement.

"We are optimistic that our debt capital will help these companies take their businesses to the next level and we will continue to support them throughout their journey,” he adds.

Orange Retail Finance is a Chennai-based new two-wheeler financing startup that operates through 85 branches in over 11,200 villages across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, and Kerala. 

Mumbai-based WebEngage through its full-stack marketing automation platform offers cloud solutions for customer engagement and retention to businesses across sectors like ecommerce, travel and hospitality, BFSI, gaming, edtech, media, and entertainment, among others.

Habanero, a D2C focussed omnichannel brand provides continental cooking sauces, tortilla wraps, among others through its website, marketplaces, and retail.

CASHe is a Mumbai-based fintech startup that focuses on providing personal loans and “buy now, pay later” products to salaried individuals through an app and a proprietary underwriting algorithm based on alternate data.

Apart from this, the venture debt firm has also invested in an undisclosed pharmaceutical company that serves several categories, including consumer healthcare, respiratory care, primary care, diabetes care, and women's health.

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