BlackSoil, a venture debt fund, has invested Rs.35 billion in growth capital in the form of venture debt in five startups orange Retail finance, WebEngage, Habanero Foods and CASHe as well as a generic pharmaceutical company.
Orange Retail Finance is a Chennai-based new two-wheel finance startup. The company’s target markets are rural and semi-urban areas of Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and Kerala.
WebEngage is a Mumbai-based full-stack marketing automation platform that provides cloud solutions for customer engagement and retention. The startup serves various industries such as e-commerce, travel / hospitality, BFSI, gaming, edtech, media and entertainment.
Habanero is an omni-channel brand that sells continental cookware / salsa, ready-to-cook pasta sauces, tortilla wraps through its own website, marketplaces and retail stores. It operates in the affordable premium segment with products based on authentic international recipes. Habanero’s products are available in over 1,000 retail stores in over 18 cities across India.
CASH is a Mumbai-based fintech that offers personal loans and “buy now, pay later” products to employees via an app and a proprietary underwriting algorithm based on alternative data.
BlackSoil also ran into debt to a generic drug company. The company offers products in therapeutic segments including consumer healthcare, respiratory medicine, primary care, diabetes care, and women’s health.