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IFC Invests $3 Million in AI Focused Fund Pi Ventures

26May By Press Trust of IndiaNo Comments

FUNDING

IFC Invests $3 Million in AI Focused Fund Pi Ventures

International Finance Corporation (IFC), a part of the World Bank Group, is investing USD 3mn in pi Ventures maiden fund. The amount will be used by the early stage venture fund to invest in companies leveraging technologies such as applied artificial intelligence (AI), machine learning and IoT across a range of sectors, it said in a statement here. IFC is making investments through the IFC Startup Catalyst programme, which aims to build local ecosystems to drive innovation and entrepreneurship. IFC's venture capital investments in India include online grocery major BigBasket, edutech startup Byju's, Portea, a company providing affordable home care and BlackBuck, a leading player in elogistics.

InnerWave Ventures Looking To to Invest in 18-20 Startups in Next Three Years

26May By PriyankaNo Comments

FUNDING

InnerWave Ventures Looking To to Invest in 18-20 Startups in Next Three Years

A community of early-stage angel investors InnerWave Ventures today said it is planning to invest in 18-20 start-ups in next three years in the range of Rs 1-1.5 crore. Currently, InnerWave Ventures, which is managed by corporate advisory firm InnerWave, consists of 32 angel investors which are looking to help start-ups in need of additional capital. "A lot of the angels have built up their own businesses and may be sold them or are in a semi-retired stage and they want to pass on the knowledge that theyve picked up," InnerWave Ventures co-founder Varun Dhingra said. InnerWave Ventures said it will also be adding more angel investors to its network who are looking to invest in pre- screened start-ups. "The investment can come from a single angel or a group and it can range anyw...

25May By AdityaNo Comments

FUNDING

Genext Students Raises $5,80,000 in Series A Funding

Tutoring platform Genext Students today said it has raised USD 5,80,000 (around Rs 3.75 crore) in its pre-Series A funding round from undisclosed investors. The fresh capital would primarily be used to expand presence to new cities. Genext Students aims to leverage the freshly raised capital to strengthen its tech backbone and expand the services to new cities such as Bengaluru, Lucknow, Jaipur, Hyderabad and Chennai, it said in a statement. Launched in February 2013, the platform provides private tutoring with technology-enabled learning for CBSE, ICSE and state boards. Ali Asgar Kagzi, co-founder and director of Genext Students said, "With our fresh round of funds, we aim to expand our services to more cities across a greater number of geographies and make use of technology i...

24May By PriyankaNo Comments

FUNDING

Box8 Raises 7 Crores Additional Funding From Series B 50 Crores

BOX8, one of the India's fastest growing food delivery startups has raised Rs. 7 Cr in venture debt funding from Trifecta Capital, in addition to Rs. 50 crores raised in series B round raised from IIFL Seed Ventures Fund & Mayfield. Started by two IIT graduates, Amit Raj and Anshul Gupta, BOX8 is a full stack online food delivery player that specializes in preparing and delivering delicious Indian meals across Mumbai, Pune and Bengaluru. It serves around 14000 meals everyday through a network of 65 plus stores. "Venture debt is an excellent proposition; since it provides access to debt where traditional bank lending doesn't participate, and does that without diluting equity, unlike venture capital. This will help us maintain a balance in our financial structure and at the same ti...

22May By PriyankaNo Comments

FUNDING

Delhi Based Logistics Firm Delhivery Raises $30 Million Funding

Logistics company Delhivery has received USD 30 million (about Rs 200 crore) funding from Chinese conglomerate Fosun International. This additional investment is a part of the bigger equity financing round where The Carlyle Group pumped in USD 100 mn to pick up a minority stake in the firm, according to a statement. The investment in Delhivery is reported to be among the largest in the tech-focused logistics space. It is a pointer to a likely boom in the logistics sector as the government moves ahead with the introduction of GST from July 1 and on the back of robust online retail sales. The Gurugram-based company was launched in 2011 by Sahil Barua, Mohit Tandon, and Suraj Saharan with an aim to disrupt the logistics supply chain market. Later, they were joined by Bhavesh Mangl...

Lighthouse Invested 51 Crore in Stylam Industries

22May By Press Trust of IndiaNo Comments

FUNDING

Lighthouse Invested 51 Crore in Stylam Industries

Lighthouse, a middle market private equity firm focused on growth investments in India's consumer sector today announced that funds affiliated with the firm have made an investment of INR 510 million in Stylam Industries, one of India's leading laminate manufacturers. The investment will be used to accelerate Stylam's expansion in the fast-growing domestic market. Incorporated in 1991, Stylam designs, manufactures and markets a wide range of laminates for residential, commercial and industrial purposes. For FY16, the company clocked revenues of approximately INR 2.5 billion and has demonstrated a revenue CAGR of over 22% over the past five years. It is in the process of commissioning a new manufacturing facility that will double its production capacity. Jagdish Gupta, Managing Direct...

Softbank-Saudi Tech Fund Becomes World’s Biggest With $93 Billion of Capital

21May By reutersNo Comments

FUNDING

Softbank-Saudi Tech Fund Becomes World’s Biggest With $93 Billion of Capital

The world's largest private equity fund, backed by Japan's Softbank Group and Saudi Arabia's main sovereign wealth fund, said on Saturday it had raised over $93 billion to invest in technology sectors such as artificial intelligence and robotics. "The next stage of the Information Revolution is under way, and building the businesses that will make this possible will require unprecedented large-scale, long-term investment," the Softbank Vision Fund said in a statement. Japanese billionaire Masayoshi Son, chairman of Softbank, a telecommunications and tech investment group, revealed plans for the fund last October and since then it has obtained commitments from some of the world's most deep-pocketed investors. In addition to Softbank and Saudi Arabia's Public Investment Fund (PIF), the ...

Now Softbank Said Paytm Karo, Invested $1.4 Billion in Paytm

18May By AnkitaNo Comments

FUNDING

Now Softbank Said Paytm Karo, Invested $1.4 Billion in Paytm

Japanese conglomerate SoftBank has pumped in USD 1.4 billion (over Rs 9,079 crore) in Indian digital payments platform, Paytm, marking the largest fund infusion by a single investor in an Indian start-up. This is Softbanks largest investment in a single company in India. While both the companies have declined to comment on the valuation, market watchers say that the deal values Paytm at about USD 8 billion. The funding will help Paytm expand fast its soon-to-be launched payments bank operations as well as grow its user base and introduce more financial products for consumers. SoftBank joins Alibaba and its payments affiliate Ant Financial as amongst the largest investors in One97 Communications which operates Paytm. Interestingly, SoftBank was an early investor in Alibaba. "In ...

Fynd Raises Series A of USD 500k From Silicon Valley Based Rocketship

15May By AnkitaNo Comments

FUNDING

Fynd Raises Series A of USD 500k From Silicon Valley Based Rocketship

Mumbai, May 15th, 2017: Underlining its commitment to offer superior customer experiences with real time fashion discovery, Fynd, the unique fashion e-commerce portal, recently raised follow-up funds of USD 500k from Silicon Valley-based Rocketship. This new capital has been raised in an extension of the Series A funding round wherein the fashion e-commerce portal had raised USD 500k from Venture Catalysts in March. Fynd seeks to chiefly utilise the funds to strengthen its tech backbone, optimize its operations and further enhance its customer offerings as well as strategies. Fynd will leverage the VC firm’s expertise in data mining and machine learning capabilities to emerge as a household name in the fashion e-commerce space. The Series A funding comes close on the heels of the compan...

15May By PriyankaNo Comments

FUNDING

E-commerce Platform Infibeam to Invest $468k in RemitGuru

E-commerce firm Infibeam Incorporation Ltd has agreed to invest Rs 3 crore ($468,000) in global digital remittance solutions platform RemitGuru. “As a part of this investment transaction, Infibeam and CC Avenue will invest Rs. 3 crore in RemitGuru wherein Infibeam will invest Rs. 2 crore,” Infibeam said in a statement. The deal would be a cash deal transaction helping Infibeam to increase cross-border e-commerce business transactions with cash-free modes through fintech solutions. CC Avenue already holds 26.76 per cent stake in RemitGuru. “This partial acquisition would not fall within related party transactions and no governmental or regulatory approvals are required for the same,” it said. займ в тамбовезайм на 100000займ на карту честное слово...

14May By PriyankaNo Comments

FUNDING

Online Fee Platform OnFees Looking to Raise Fresh Funding

Cash may have been the most-prevalent payment mode for educational institutions traditionally, but a push for digital economy post-demonetisation is making them change too and this has prompted three young professionals to start OnFees an online fee platform. Having tasted big success in Mumbai region with 35 organisations including some chains of institutions, and over 70,000 students on board in a very short span of just about 3 months, OnFees is now looking to expand to other parts of the country and is in talks for the second round of funding. While the first round of funding came from HNIs, the startup is looking for funding from established private equity and venture capital firms in India and abroad, its Chief Marketing Officer Manisha Thakur told Pixr8. 30-year-old Manisha...

12May By AdityaNo Comments

FUNDING

LegalRaasta Raises INR 32 Crore Series A Funding From Impanix Capital

The Delhi-based startup, LegalRaasta, which provides finance and taxation services to SMEs, raises approximately $5 million in Series A funding from Impanix Capital. LegalRaasta intends to use these funds in building GST compliance software for SMEs, CAs and enterprises. They will offer both - a standalone GST Software and an API interface, to connect ERP (such as SAP, Oracle and Tally) with GST systems. LegalRaasta has already applied as a GSP (GST Suvidha Provider) with the government. LegalRaasta intends to serve its existing SME clients and over 80 lakh+ potential SMEs to be covered under the GST regime. Through its GST software solution, LegalRaasta intends to simplify GST filing through features such as reconciliation, excel upload, app-based GST filing, etc. LegalRaasta alread...