FUNDING | Pixr8 News

11Jun By Lavina TolaniNo Comments

FUNDING

Google’s Investment Firm leads $22 Mn Funding in Aye Finance

Capital G, the growing arm of Google's parent company Alphabet has led a $22 million (Rs 147 crore) funding round in a microlending platform Aye Finance, a move that marks company first bet in the Indian financial sector. The Series C funding round witnessed participation from investors such as LGT and SAIF partners. The is the first equity funding for the Gurugram based Aye Finance which has so far raised Rs 200 crore from venture capital firms, while an additional Rs. 500 crore from debt and equity firms. Aye Finance that claims to be the first fintech company to raise capital from CapitalG competes with Lendingkart, InCred, Capital Float, Indifi Technologies, and many others. Aye Finance will be utilising the funds to strengthen its business operations and technology. It is als...

Ant Financial Raises $14 Billion From National And International Investors

8Jun By Gauri SinghNo Comments

FUNDING

Ant Financial Raises $14 Billion From National And International Investors

China’s biggest online payment platform Ant Financial Services Group which operates the Alipay mobile payment service, in its recent funding, has raised a huge amount of around $14 billion, with the aim to expand its platform across the globe and bring in latest technologies. Ant Financial which is controlled by Jack Ma is an Alibaba affiliated fintech firm. The investment of the firm is being reviewed as the biggest-ever single fundraising globally by any private sector company. In a statement, Ant Group told that the funding comprised of both U.S. dollar and Chinese yuan tranches, where the dollar share made up over $10 billion and the yuan tranche was mainly contributed by the existing shareholders. "Now, with the help of our partners, we are going to accelerate our strategy," Ant...

8Jun By AnkitaNo Comments

FUNDING

21North Secures 50 Crore Funding From Europ Assistance

Singapore based vehicle assistance company ONB Technologies Pte Ltd which also known as 21North in India secures $7.4 Million (50 Crore INR) funding from Paris based global assistance firm Europ Assistance. In India, 21North operates in 11 cities and seeks to expand services to 40 cities soon. They currently delivering services to 35,000 vehicles/month and projected to reach 100,000+ vehicles by the end of 2018. The company have a path-breaking concept in the Auto After Sales Industry; aimed at solving every kind of existing problem of vehicle owners without sacrificing their valuable personal time in managing the vehicle needs. Through its application 21North empowers dealers and workshops with technology solutions to deliver superior customer experience and achieve critical busi...

NBFC Annapurna Finance raises Rs. 155 Cr from OJIF

7Jun By Lavina TolaniNo Comments

FUNDING

NBFC Annapurna Finance raises Rs. 155 Cr from OJIF

Bhubaneshwar based non-banking financial company Annapurna Finance Pvt Ltd. has raised Rs. 155 crore from Oman Joint Investment Fund (OIJIF), a private equity fund backed by India's largest State Bank of India. OJIF is a joint venture between SBI and Oman’s State General Reserve Fund which has recently announced the second close of its second fund called "OJIF II" with commitments of $230 million. The funding amount will be used by Annapurna Finance to expand its microfinance operations boosting its strong presence in eastern India and focus on rural customers. Moreover, the company also has plans to diversify itself into newer asset classes and invest in technology to increase operational efficiency. Annapurna is promoted by social activist Gobinda Pattanaik who said that company...

Unicorn India Makes its Sixth Investment in Kerala in Inntot Technologies

6Jun By Gauri SinghNo Comments

FUNDING

Unicorn India Makes its Sixth Investment in Kerala in Inntot Technologies

The early-stage investors Unicorn India Ventures have declared their latest funds investment in a Kerala-based Software Defined Radio (SDR) startup called ‘Inntot Technologies’. Unicorn India Ventures is a Bengaluru-based firm that provides funds to the startups at the very critical and initial stages, who have the potential and are ambitious to expand in the market. The company claims that they invest both, time as well as money, in the budding entrepreneurs who are passionate to bring a difference. Whereas, Inntot Technologies is a non-government tech-oriented company which offers software solutions for digital radio receivers to make it cost-effective. It was founded by Rajith Nair and Prasanth Thankappan in 2014. Inntot Technologies claims that it has raised funds to augment m...

5Jun By Lavina TolaniNo Comments

FUNDING

Home Healthcare Startup raises pre-Series A Funding from NB Ventures

Home based healthcare startup, Zoctr Health has raised an undisclosed amount in pre-series A round funding from Dubai based NB Ventures. The investment round witnessed participation of a host of angels including Udaipur Angel Network leading the total fundraising of the company to cross $2 Mn. Zoctr will be utilising the significant portion of funding to build deeper technology and domain expertise. The startup is also looking forward to incorporating an electronic health dashboard in its recently launched app along with remote monitoring features. The startup has an end-to-end portfolio of home health services including Home ICU set-up, home nursing & attendant care, baby care and specialized cancer care. It was founded by Nidhi Saxena in 2015. Neelesh Bhatnagar, Director NB ...

Paytm to Invest Rs 67 Cr in Digital Lending Startup

5Jun By Lavina TolaniNo Comments

FUNDING

Paytm to Invest Rs 67 Cr in Digital Lending Startup

Digital Payment Firm Paytm is all set to invest $5-10 million (roughly Rs.33.5-67 crore) in a Mumbai headquartered digital lending startup CreditMate, for the second time in a round of funding after it infused an undisclosed sum in late 2017. Though CreditMate chief executive officer Jonathan Bill has refused to give any confirmation on the proposed funding but said that the company has witnessed a 40% month-on-month growth in terms of the number of loans disbursed. He further said, The first 12 to 18 months have been very well in terms of business and we have managed to restrict repayment failures to less than 1%. More than 60% of our customers are new to credit and more than 50% are self-employed. Hence we use technology to assess the borrower. The startup is a fintech focussed s...

4Jun By Lavina TolaniNo Comments

FUNDING

New-Delhi Based Sports Flashes Raises $1 Mn pre Series A funding

New Delhi based Sports Flashes Pvt Ltd which runs a sports content app "Sports Flashes" has raised Rs. 6.7 crore ( $1 million) in a pre Series A funding from an early stage venture incubator SRI Capital. The company will be utilising the funds obtained in expanding its operations. Sports Flashes is currently available on both Android and iOS and provides content in seven Indian languages on different topics such as sports news, live scores, fantasy gaming, expert views, trivia, and more. Founded in 2016 by Raman Raheja, an entertainment and sports professional and Keshaw Sinha, an IT veteran Sports Flashes claims to have 300,000 downloads till date and aims to touch 1 million downloads by the end of this year. Speaking of the latest development, Raman Raheja said, We are looki...

4Jun By Lavina TolaniNo Comments

FUNDING

Eyewear Brand ClearDekho Raises Rs. 2 Cr pre-Series-A Funding

Uttar Pradesh based Online Optical Marketplace and eyewear brand ClearDekho has raised Rs. 2 Crore (Nearly $300,000) in a pre-Series-A investment round from incubation and funding platform Venture Catalysts. The startup will utilise the funding amount to boost marketing initiatives, strengthen back-end operations and recruit fresh talent, as informed by Shivi Singh, co-founder at ClearDekho. The funding round led through Vcat platform witnessed participation from several institutional investors such as Pune based Windrose Capital and Samyakuth Capital, a hybrid growth fund based in Mumbai. In addition, there were angel investors too who put their money including Anand Naidu, Dhianu Das, Gagan Gupta. Founded by Saurabh Dayal and Shivi Singh in 2016, ClearDekho is a prominent Budget...

4Jun By AnkitaNo Comments

FUNDING

Delhi based Forex Company Raises $0.5 Million Funding

New Delhi based Forex Company Myforexeye raises $0.5 Million bridge round of funding from InRhythm Energy Ltd. The funding will be used for launch of new products, technology and geographical expansion across the country. InRhythm Energy Ltd is Indian arm of US-based InRythm Inc. It caters to clean and green energy businesses by providing them a range of services including but not limited to expert advice, project assessment and carbon finance and trading. Speaking over the phone to Pixr8 Team, Anand Tandon, Founder, Myforexeye said, “Myforexeye is on the mission of simplifying Forex for SMBs, MSMEs, B2B and B2C businesses in India and other parts of the globe. We are getting exciting response from the industry. InRhythm Energy Ltd funding will help us to improve our technology a...

World’s Highest-Valued AI Company Raises $1.2 Billion Within 2 Months

2Jun By Gauri SinghNo Comments

FUNDING

World’s Highest-Valued AI Company Raises $1.2 Billion Within 2 Months

China's leading artificial intelligence company, SenseTime has raised $620 million in its latest Series C+ round of fundraising, being the world's highest-valued AI company at a valuation of more than $4.5 billion. The company had raised $600 million last month Alibaba-led investors and Singapore’s state investment firm and now is back with an upraise. The latest funding of the startup is being carried on in association with some well-known and noteworthy companies - Fidelity International, Hopu Capital, Silver Lake and Tiger Global. SenseTime confirmed that Qualcomm, which formerly sponsored the firm, was also in this round. The new investment brought the amount raised to more than $1.2 billion and tripling its valuation in under a year. SenseTime is at present valued at over $4.5 bill...

1Jun By AdityaNo Comments

FUNDING

CoinTribe Raises $10 Million Series B Funding

Another Lending Platform CoinTribe raises over $10 million equity capital in Series-B round led by Sabre Partners along with participation from existing investor, Puneet Dalmia. In last one month, twelve fintech companies raise funding, the average range of funding is from $250000 to $15 million. Gurugram based CoinTribe offers unsecured term as well as working capital financing to small businesses, which are risk assessed using an online lending algorithm. With this round of funding, total equity capital raised by CoinTribe has increased to over USD 15 million. CoinTribe plans to use this additional capital to further enhance capabilities of its proprietary online credit algorithm, expand to new markets and further develop technology to enable faster and nimble product and credit...