Venture Capital

THE WEEK THAT S BEEN Rounding up the funding

Read more at bwdisrupt.businessworld.in

Funding remains robust as investors express confidence in the big and small of start-ups. Read more to find out what’s been up this week!

From raising thousands to millions of dollars, the week has seen a robust set of investments from big and large players alike.

BharatPe Raises Rs. 50 Crore Debt From Northern Arc 

BharatPe, India’s leading financial services company for merchants, today announced that it has raised Rs. 50 crore (~US$ 7 mn) in debt from Northern Arc Capital, one of India’s leading digital debt finance platforms that is focussed on improving access to finance for under-served businesses and individuals in India. This is the sixth round of debt financing for BharatPe in the year 2021. In January this year, the company had raised Rs. 200 crores (~US$ 26 mn) from three top debt companies in the country – Alteria Capital, InnoVen Capital, and Trifecta Capital, having later raised additional capital from ICICI Bank and Axis Bank. 

SBI Card Raises Rs 455 Cr By Issuing Bonds 

The bonds with a maturity date of May 10, 2024, will offer coupons at 5.70 percent per annum. SBI Card said it will list the bonds on the wholesale debt market segment of BSE. The scrip of the company closed 0.55 percent down at Rs 976.90 apiece on BSE. 

Serial Entrepreneur Milan Ganatra Invests INR 9 Crore In HalaPlay 

Fantasy gaming start-up HalaPlay has raised INR 9 crore from Milan Ganatra Ventures. With this round of fund-raising, Milan Ganatra marks his entry into India’s online gaming ecosystem. A veteran investor in software technologies, Milan will be mentoring the young team of HalaPlay in this role. Prior to this round, HalaPlay has raised two rounds of funding in November 2017, and INR 40 crore in December 2018. 

Rubix Data Sciences Raises INR 6.2 Crore In Seed Funding Round 

Technology and analytics-based Business to Business (B2B) risk management and monitoring platform Rubix Data Sciences, has raised INR 6.2 crore in its round of seed funding. The round saw participation from institutional investor Cactus Venture Partners, family offices, and high net worth individuals (HNIs). This round of fresh funding will be utilized to enhance the analytics and technology capabilities of the brand’s ‘Automated Risk Management and Monitoring System’ (ARMS). 

We Founder Circle Leads USD 200k Pre-Seed Round In Geekster 

We Founder Circle (WFC) – a startup investment platform, in continuation of its mission to seed fund early-stage startups, has invested in Geekster, an integrated ed+hr tech platform for technology professionals. The pre-seed round worth USD 200K witnessed participation by renowned investors like We Founder Circle (lead investor), and ah! Ventures. Geekster is an integrated platform where students get trained on in-demand skills by Industry experts and pay only after getting a job; while the employers are able to access top-quality vetted talent through data-driven matching algorithms. 

Huma Raises $130 Million Financing To Scale Its Digital Health Platform For Better Care And Research 

Huma Therapeutics Limited today announces the completion of its latest funding round with financing of approximately $130 million. The investment will scale Huma’s modular platform which can power digital ‘hospitals at home’ nationally, and support the pharmaceutical and research industries to run the largest ever decentralized clinical trials. Huma’s platform combines predictive algorithms, digital biomarkers, and real-world data to advance proactive care and research. 

Appitsimple Invests $200K In Enthu.ai 

Appitsimple, well known for its products on the digital platform CallHippo and SoftwareSuggest, has invested $200,000 in Enthu.ai. Founder of Appitsimple, Ankit Dudhwewala, has also invested at a personal level. This round of funding will help Enthu.ai speed up its sales and engineering efforts and move forward in its vision of facilitating the contact centers to deliver superior outcomes to customers. They also aim to grow their business by 700% in the upcoming times. 

SoftBank Equips InMobi With A Mammoth Investment, Ahead Of $1 Billion IPO 

India’s first technology-based firm to enter the Unicorn club, InMobi, has kickstarted its US listing process by working with Goldman Sachs and JP Morgan as advisors to help raise about $1 Billion. It remains unclear however whether the listing process will increase the valuation of the ad-tech vertical only at a $5-$8 billion valuation, or the entire group is valued at $12-$15 billion. The investors and the company are looking at a listing during the ongoing financial year. 

Zoomcar Raises $5.5 Million Dollars From US Based Parent Company Zoomcar Inc 

Recently, the Indian self-drive car rental company Zoomcar has raised INR 41 Crore/ $5.5 Million from its umbrella company Zoomcar Inc. Prior to this, Zoomcar Inc had also infused INR 8.27crore/ $1.1 Million in January and INR 5.27 Crore/ $717k in February 2021. These rounds of raising investments taking the total capital infusion in the company to INR 54.5 Crore/$7.4 Million in 2021. 

SuperOps.ai Raises $3Million Led By Elevation Capital, Matrix Partners 

City-based firm SuperOps.ai, a professional services automation (PSA) and remote monitoring and management (RMM) platform, has raised $3 million in a seed-stage funding round led by Elevation Capital and Matrix Partners India. Noted angel investors, including Posist’s co-founder Ashish Tulsian, Varun Shoor, founder,Kayako’s, Kovai. co’s founder Saravana Kumar, and Ramakant Sharma, founder of Livspace’s participated in the seed round investing. 

Ess Kay Fincorp Raises INR 337 Crore From Investors 

Jaipur-based Ess Kay Fincorp Ltd., a Non-Banking-Financial-Company (NBFC) has received an investment of INR 337Crore/ $45Million from Northwest Venture Partners, Evolvence, and TPG Group. While this is the third round of investment by TPG Growth after 2.5 years, the other two are investing for the fourth time. The three firms invested in a Series E round of funding along with promoter Rajendra Setia. 

Bengaluru Based Myelin Foundry Raises $1 Million 

Deep tech start-up, Myelin Foundry, has raised $1 million as a part of its pre-series A round of funding. This round was led by Beyond Next Ventures, a Japanese venture capital firm. The existing investor, Endiya Partners, also participated in this round.  The company will use the capital raised to consolidate its products in India as well as the international video streaming market. To further build capabilities to position itself as a leader in the edge Artificial Intelligence space across industries. 

Megalab Gets Rs 300-cr Seed Fund To Develop Ayurveda-based Covid vaccine 

The IIT Alumni Council-funded Megalab has secured a Rs 300-crore seed funding and is developing a two-dose Ayurveda-based coronavirus vaccine that can stop the spread of the deadly virus and prevent infection within a few days of the first dose. The city-based Megalab, set up last April by the council to drive the fight against the pandemic with ideas and money, will also be importing available vaccines from the West to be distributed first in Mumbai and then elsewhere, the alumni council president Ravi Sharma told PTI on Thursday. 

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