Atomicwork has raised $11 million in a seed round led by Matrix Partners India and Blume Ventures, while alternative investment platform Grip Invest has taken legal action against cloud kitchen firm BigSpoon. Separately, PE firm Lighthouse has exited Indian snacks making company Bikaji Foods.

Matrix Partners, Blume Ventures back Atomicwork seed round

HR tech startup Atomicwork has raised $11 million in a seed round led by Matrix Partners India and Blume Ventures.

Storm Ventures, Neon Fund, and prominent angel investors from Silicon Valley and India participated in the funding round. The startup will be investing in product development, engineering, and marketing activities in the coming months.

Founded in 2022, Atomicwork’s platform features different services for teams such as IT, HR, finance, and legal work, providing a unified experience for employees and cost efficiency for the enterprise.

Grip Invest sues BigSpoon founder Kapil Mathrani

Alternative investment platform Grip Invest has taken legal action against cloud kitchen firm BigSpoon, according to YourStory.

Grip Invest has also taken action against BigSpoon’s founder and CEO, Kapil Mathrani, due to failed rent payments for kitchen utilities and other assets. Mathrani has been untraceable for 48 hours, added the report.

Founded by Mathrani and Poojan Thakkar in 2019, Bigspoon is a multi-brand omnichannel cloud kitchen startup that is focused on tier-II cities. The startup currently operates across 80 kitchens in 35 cities and claims to cater to over 150,000 diners every month.

Lighthouse offloads $19m shares in Bikaji Foods

Private equity firm Lighthouse has completely exited Indian snacks making company Bikaji Foods, according to VCCircle.

Lighthouse has offloaded shares worth around $18.7 million this week. The PE firm first invested in the company in 2004 and made its first exit in 2018, divesting Rs 100 crore back then, added the report.

Mumbai-based Lighthouse Funds, founded in 2006 by Sachin Bhartiya, Sean Sovak, and Mukund Krishnaswami, has invested in 29 companies and continues to aggressively seek out similar opportunities where it can invest $20-50 million across its bets. Lighthouse Funds has around $500 million in assets under management (AUM).