In the latest startup funding developments, MSME-focused digital lender NeoGrowth has raised nearly $8.8 million in a mix of equity and debt, while Gramiyaa has secured Rs $1.93 million in a Series A round.
NeoGrowth raises $8.8m from FMO, LeapFrog
MSME-focused digital lender NeoGrowth has raised nearly $8.8 million (Rs 85 crore) in a mix of equity and debt funding from Dutch development bank FMO and existing investor LeapFrog Investments, according to media reports.
The funding proceeds will help the company expand its loan book to nearly Rs 3,000 crore before it requires another equity infusion.
NeoGrowth, which is an existing FMO portfolio company, provides loans to consumer-facing, retail-oriented and underserved micro, small, and medium enterprises (MSMEs). It promotes financial inclusion for first-time entrepreneurs and small businesses.
FMO has been investing in NeoGrowth Credit since 2017. In December 2022, NeoGrowth had raised over $36 million in its Series D funding round from FMO and existing investors.
Optiscape Network leads funding in Gramiyaa
Bengaluru-based cold-pressed oil startup Gramiyaa has raised Rs nearly $1.93 million (Rs 18.65 crore) in a Series A funding round led by new investor Optiscape Network Holdings, Entrackr reported.
Existing backers Homegrown Ventures, Campus Fund and others joined the round.
The company plans to use the proceeds to support its growth and meet general corporate expenses, said the report.
Gramiyaa had previously secured Rs 7.2 crore in a pre-Series A round in March 2025, led by Homegrown Ventures, with participation from Campus Fund and Mumbai Angels.
Founded in 2016 by Sibi Manivannan, Gramiyaa produces cold-pressed oils using traditional extraction methods. Its product range includes groundnut, coconut, sesame and mustard oils, as well as virgin coconut and olive oils.
