str8bat Raises Rs 29.4 Crore, Furnishka Secures Rs 27 Crore in New Funding
Two startups, str8bat and Furnishka, have raised a combined Rs 56.4 crore (around $6.7 million) to grow their businesses and develop new products.
Bengaluru-based sportstech platform str8bat has raised $3.5 million (about Rs 29.4 crore) in a Series A round. The round was led by Exfinity Venture Partners, with support from TRTL, Eternal Capital, VCats Group, and existing investors like Techstars and SucSEED Indovation Fund.
Founded in 2017 by Gagan Daga, Rahul Nagar, and Madhusudan R, str8bat makes wearable technology for cricketers. Their product uses AI to track a player’s stance, shot type, and movements, giving them feedback to improve performance. It also connects users to top coaches worldwide.
The company works with big clients like Rajasthan Royals, Cricket Australia, and SG Cricket. In partnership with SG, they launched the world’s first smart cricket bat, which tracks shots without cameras. Str8bat has recorded over 2 million shots and is used by around 400 elite players. Their goal is to reach 1 million players in the next five years.
Home décor retailer Furnishka, also based in Bengaluru, has raised Rs 27 crore (around $3.2 million) in a pre-Series A round led by India Quotient. Sparrow Capital and angel investors Sujeet Kumar and Ramakant Sharma also participated.
Founded in 2023 by Ganesh Pawar, Furnishka offers affordable, high-quality furniture. The company has served over 10,000 customers and currently operates four large-format stores in Bangalore, with plans to open six more soon. The funds will be used for product development, improving manufacturing, and expanding retail operations.
Ganesh Pawar said that Furnishka’s supply chain helps them offer products at 20% lower prices for entry-level items and 30-40% less for premium ones. This has led to high customer satisfaction and repeat purchases.
Anand Lunia, partner at India Quotient, highlighted that Furnishka fills a gap in the market for trusted, affordable furniture in large retail spaces.