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Up, the smart appliance start-up, has raised $1.3 million in pre-seed funding led by Zerodha’s venture capital arm Rainmatter, which invested $500,000 in the company.
The round also saw participation from co-founders of Ather Energy, Unacademy, Stanford Angels and Entrepreneurs India, alongside early Tesla investor Tim Draper. Consumers from the brand’s beta testing programme are mini-angel investors in Up.
Up will use the funds to market its first appliance, delishUp. “Everyone knows the best way to manage your health is to eat home cooked food, and with this new funding we are looking forward to taking delishUp to consumers across the country,” said Mahek Mody, co-founder and chief executive officer (CEO) of Up.
