Futwork, a sales outreach platform, has successfully raised approximately Rs 20.9 crore (around $2.5 million) in its Series A funding round. The investment was led by the Michael & Susan Dell Foundation, with additional contributions from Artha Ventures, Simile Capital, and other investors.
The board at Futwork has authorized the issuance of 50 equity shares and 8,820 preference shares at a price of Rs 23,650 each, as documented in a regulatory filing accessed from the Registrar of Companies (RoC). The Michael & Susan Dell Foundation’s contribution totals Rs 14.17 crore, while Artha Ventures, Simile Capital, SCI Bureaux, D2C Insider Angels, and angel investor Abhishek Goyal provided the remainder of the funds.
The new capital will be used to advance the company’s growth objectives, enhance working capital, and strengthen its financial position. Following this investment, the Michael & Susan Dell Foundation will hold a 19.92% stake in the company, with Simile Capital and Artha Ventures holding 10.08% and 5.64%, respectively.
Previously, Futwork raised $1 million in seed funding from Blume Ventures in 2022. According to TheKredible, the company’s post-funding valuation stands at approximately Rs 71 crore (around $8.5 million).
Founded in 2020 by Armaan Vananchal, Niranjan Nakhate, and Sri Ganapathy, Futwork provides businesses with a cost-effective solution for building and expanding outbound calling teams. Its services include product demonstrations, session bookings, and customer feedback collection.
For the fiscal year ending March 2023, Futwork reported a 12% decline in revenue to Rs 3.79 crore, with a corresponding loss of Rs 3.78 crore. This compares to a loss of Rs 2 crore the previous year.
Centricity Raises $20 Million in Seed Round
Wealthtech startup Centricity has announced a successful $20 million seed funding round, led by Lightspeed. The round also saw participation from Paramark VC, Burman Family Office, Shantanu Agarwal, and angel investors including Ritesh Agarwal, Vishal Dhupar, and the MS Dhoni Family Office.
The Gurugram-based B2B2C platform had previously raised $4 million in its pre-seed round in September 2022. The latest funding values Centricity at $125 million, marking a significant increase from its $20 million valuation during the pre-seed round.
The new funds will be allocated to scaling Centricity’s two platforms—Invictus and One Digital—by investing in technology and talent, expanding private banking services, and pursuing strategic acquisitions. The company plans to double its tech development team from 75 to over 150, with a focus on generative AI, insurtech, and broking-tech platforms.
Founded in early 2022 by Manu Awasthy, Centricity provides plug-and-play solutions designed to transition financial advisors from employees to entrepreneurs. The platform simplifies access to financial products and enhances the understanding of financial portfolios for its users.
Centricity’s growth comes amid a surge in investments in the wealthtech sector. According to data intelligence platform TheKredible, Indian wealthtech startups have raised over $200 million across 12 deals in the past 12 months. Notable fundraisers include Neo, backed by Peak XV with $48 million, Mumbai-based Dezerv with $32 million in Series B, and Singapore-based Syfe, which raised $27 million last month. Other significant investments have been made in Stable Money, Fisdom, InvestorAi, Wealthy, Powder, Infynite Club, and Vijya Fintech.
