FUNDING | Pixr8 News

25Aug By AdityaNo Comments

FUNDING

Ecobillz Raises Pre Series A Funding From 92 Angels

Belgaum-based digitisation start-up Ecobillz has raised an undisclosed amount in a pre-Series A round led by IIM Ahmedabad alumni-backed 92Angels. Ecobillz is a platform which leverages artificial intelligence (AI) and machine learning (ML) to digitise and aggregate information from documents. The funding will be used by the start-up for the expansion of the product and engineering teams and to augment the sales and go-to-market capacity. Founded in 2016 by Ameet Patil and Nitesh Singh Rathore, Ecobillz has solutions that can digitise documents downloaded from any software. Apart from its capacity of aggregating information through AI/ML, Ecobillz’s platform can derive insights from aggregated data through advanced analytics. 92 Angels is an angel network founded by Indian Ins...

22Aug By AdityaNo Comments

FUNDING

Better.com raises USD 160 mn funding

Better.com, an online mortgage platform in the US has closed a USD 160 million (about 1,144 crore) funding round from Activant Capital, Ping An Global Voyager Fund and Ally Financial among others. The series C round also saw participation from Citi, AGNC, Healthcare of Ontario Pension Plan (HOOPP) and American Express Ventures, who joined existing shareholders Goldman Sachs, Pine Brook, and Kleiner Perkins in the round, a statement said. "The capital we've raised will enable us to accelerate our investment in product development, grow our strategic partnerships, expand our team and scale our platform to continue making it easier for borrowers to get home financing," Better.com CEO and founder Vishal Garg said. Better.com said it has grown 3X year-on-year and is currently funding U...

Predictronics Raises $3.2 Million from TVS Motor Singapore

19Aug By AdityaNo Comments

FUNDING

Predictronics Raises $3.2 Million from TVS Motor Singapore

TVS Motor Singapore, a wholly-owned subsidiary of TVS Motor India invest $3.2 million in US-based Predictronics Corporation, which specializes in providing end-to-end predictive maintenance analytics solutions. Predictronics' solutions combine expertise in IoT, Industrial AI, Big Data, Machine Learning, and Predictive Analytics to remove the uncertainty from industrial operations and improve process uptime, production planning, maintenance, and product quality by providing actionable information and accurate predictions that empower clients to have a transparent, worry-free business. Their claim to fame is that "We know what happens next, and so can you." Rajesh Narasimhan, Board Member of TVS Motor Company and CEO of TVS Motor (Singapore), stated, "We evaluated many companies global...

Blu Smart Mobility raises USD 2.2 million

17Aug By AdityaNo Comments

FUNDING

Blu Smart Mobility raises USD 2.2 million

Electric mobility service provider Blu Smart Mobility has raised USD 2.2 million (over Rs 15 crore) from multiple investors led by JITO Angel Network. Investors who participated in the angel round also included Hero MotoCorp, MayField Fund, and Centrum, Micromax and few individuals, Blu Smart Mobility said in a statement. The fund raised will help the company expand its offerings and services beyond Delhi-NCR where it is currently centred, it added. The start-up was launched as an all-electric cab service in collaboration with Mahindra and Mahindra in June this year. In addition to cab services, its offerings now also include ride sharing, car sharing, and shared charging. The company had flagged off a fleet of 70 Mahindra e-Verito vehicles in Delhi-NCR. It now plans to add 500...

Energy Vault Raises $110 Million From Softbank Vision Fund

17Aug By PriyankaNo Comments

FUNDING

Energy Vault Raises $110 Million From Softbank Vision Fund

Lugano, Switzerland: The creator of renewable energy storage products 'Energy Vault' raises $110 million Series B funding round from SoftBank Vision Fund. This is the first investment of Softbank in energy storage technology. Energy Vault will use the funds to accelerate the global deployment of its technology, which for the first time enables renewables to deliver baseload power for less than the cost of fossil fuels 24 hours a day. As part of the investment, Andreas Hansson, Partner for SoftBank Investment Advisers, will join the Energy Vault board of directors. Energy Vault’s breakthrough technology was inspired by pumped hydro plants that rely on the power of gravity and the movement of water to store and discharge electricity. The company’s solution is based on the ...

Lendingkart Raises $2.95 Million from Sistema Asia Fund

16Aug By PriyankaNo Comments

FUNDING

Lendingkart Raises $2.95 Million from Sistema Asia Fund

India based Fintech company Lendingkart Technologies has raised $2.95 million in fresh equity funding from Sistema Asia Fund (SAF). With the latest infusion, the equity funding raised by Lendingkart stands at a total of USD 146 million, a statement said. The valuation of the company was not disclosed. "The latest funding round with the help of the existing partners have signaled strong support and trust in Lendingkart's vision of financial inclusion and digital accessibility for everyone," Lendingkart Technologies co-founder and Managing Director Harshvardhan Lunia said. Last week, Lendingkart Technologies had said it has received an equity funding of USD 30 million (Rs 212 crores) from Fullerton Financial Holdings, Bertelsmann India Investments, and India Quotient. In the cur...

16Aug By AdityaNo Comments

FUNDING

Uniphore Raises USD 51 Million in Series C Funding

Uniphore, an AI technology company raised $51M in Series C funding led by March Capital Partners, with participation from Chiratae Ventures (formerly IDG Ventures), Sistema Asia, CXO Fund, ITP, Iron Pillar, Patni Family, plus other investors. The new round of funding is Uniphore’s largest to date and marks one of the most substantial funding rounds in the conversational AI sector. Uniphore will use the funds to accelerate its go-to-market in North America, invest in research and development for the next wave of innovation on its platform and grow its talented employee base globally. “With this new round of funding, we will be able to accelerate our global expansion and better serve our customers by developing and delivering innovative CSA solutions to more organizations around th...

Property Brokerage Platform Clicbrics raises USD 3 mn

15Aug By AdityaNo Comments

FUNDING

Property Brokerage Platform Clicbrics raises USD 3 mn

Tech-based property brokerage platform Clicbrics has raised USD 3 million (around Rs 20 crore) from investors for expansion. The pre-series A funding round was led by Manny Singh of Kavi Fund, New York; Peter Mann, Fund Manager at Gluskin Sheff, Canada along with a senior MD of one of the largest Canadian pension funds among others, the company said in a statement. It will use the fund to fuel expansion and growth in the Indian market, the company added. Delhi-based Clicbrics will continue to focus on tier-I and tier-II cities, targeting the real estate market in a bid to organize the sector. It is an AI (artificial intelligence) driven real estate brokerage platform and connects customers, brokers, and developers within its technology platform. https://pixr8.com/fundin...

12Aug By PriyankaNo Comments

FUNDING

Fintech Startup Aye Finance Raises $10 mn from Funding

Fintech company Aye Finance has raised USD 10 million (about Rs 71 crore) in funding from Zurich-based responsAbility Investments AG. The company had received USD 5 million from responsAbility earlier this year. "Aye will be utilising these additional funds to offer business loans to the excluded microenterprise sector to support their growth and enable their inclusion into the formal economy," a statement said. Aye raised USD 5 million from responsAbility through NCDs, while the balance USD 5 million has been issued from a securitisation pool raised by responsAbility that was arranged by JP Morgan. Key investors in this transaction include the Overseas Private Investment Corporation (OPIC) and Alecta. "We have found support from Indian and global leaders in our mission of p...

12Aug By PriyankaNo Comments

FUNDING

Meesho raises USD 125 mn in funding led by Naspers

Bengaluru-based Meesho said it has raised USD 125 million (around Rs 888 crore) in a funding round led by technology investor Naspers. The round also saw participation from Facebook and existing investors SAIF, Sequoia, Shunwei Capital, RPS and Venture Highway as well as former Vodafone Group CEO Arun Sarin. In June, Facebook had announced picking up a minority stake in Meesho, a startup that helps entrepreneurs set up online businesses via social channels. "The new funds will allow the company to make deeper inroads in areas outside India's major metro regions, by creating more entrepreneurs," Meesho said in a statement. The latest investment will also strengthen Meesho's aim to grow its community of women entrepreneurs and support expansion to new geographies, it added. Th...

Fintech Platform Lendingkart Raises $30 Million

9Aug By PriyankaNo Comments

FUNDING

Fintech Platform Lendingkart Raises $30 Million

India based Fintech firm Lendingkart has raised a fresh equity funding of USD 30 million led by existing investors, including Fullerton Financial Holdings Pte Ltd (FFH), Bertelsmann India Investments and India Quotient. With this funding round, the total equity raised by Lendingkart stands at USD 143 million. "The funding will be used to expand lending bases, deepen Lendingkart Group's reach to small and underserved micro-enterprises and further strengthen its technological and analytics capabilities," company said. Credit Suisse acted as the exclusive financial advisor to Lendingkart Technologies. "This equity will help us meet the growth opportunities we are seeing. Micro and small businesses represent a vibrant yet underserved segment of the Indian economy," Lendingkart Tech...

9Aug By AnkitaNo Comments

FUNDING

Online Jewelry Platform JewelMaze Raises USD 4 MN From Brand Capital

Mumbai, India, 09th Aug 2019: JewelMaze, an online Fast Fashion Jewelry marketplace has raised $4 million from Brand Capital, the strategic investment arm of Bennett Coleman and Co. Ltd. The business has grown for the past 2 years and the fund infusion will propel rapid expansion and widen their product base. Says Ritesh Barbhaya, CEO - JewelMaze, "The funding is the result of the brand’s focus on delivering quality products and building an online community with a robust ecosystem committed to delight the customer. We are very pleased to have Brand Capital as an investor which in turn provides us access to the BCCL platform enabling us to reach a wider audience." Adds, Sam Subramaniam, CEO, Brand Capital, "Brand Capital continues to encourage ambit...