BlackSoil, a venture debt fund, has invested Rs 35 crore of growth capital in the form of venture debt to five startups namely Orange Retail Finance, WebEngage, Habanero Foods and CASHe and a generic pharma company.
Orange Retail Finance is a Chennai-based, new two-wheeler financing startup. Rural & semi-urban regions of Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and Kerala are the target markets of the company.
WebEngage is a Mumbai-based full-stack marketing automation platform that offers cloud solutions for customer engagement and retention. The startup caters to various industries such as e-commerce, travel / hospitality, BFSI, gaming, edtech, media and entertainment.
Habanero is an omni-channel brand selling continental cooking sauces / salsa, ready to cook pasta sauces, tortilla wraps, through their own website, marketplaces as well as retail. It operates in the affordable premium segment with products based on authentic international recipes. Habanero’s products are present in over 1,000 retail stores in over 18 cities across India.
CASHe is a Mumbai-based fintech providing personal loans and “buy now, pay later” products to salaried individuals through an app and a proprietary underwriting algorithm based on alternate data.
BlackSoil has also provided debt to a generic pharmaceutical company. The company has products across therapeutic segments including consumer healthcare, respiratory care, primary care, diabetes care and women’s health.