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30Sep By AnkitaNo Comments

FUNDING

LoanTap Raises $12 Million in Funding Round

Digital lending firm LoanTap raises $12 million in series-B funding round, led by Avaana Capital. The current round also saw participation from existing investors, 3one4 Capital, India Quotient, Shunwei Capital and KaeCapital, a statement said. The platform offers customised personal loans such as rental deposit loan and holiday loan to white-collared salaried professionals in India. "LoanTap has created a strong technology backbone which offers a superior customer experience. We tripled our loan book last year and the current round of funding will further fuel this growth," LoanTap Chief Executive Officer and co-founder Satyam Kumar said. The firm claims to have turned profitable within two years of operations. With this round of funding, LoanTap has raised a total of USD ...

Alibaba Makes Fourth Investment of $1.3 Billion To Boost Offline Retail Strategy

Alibaba Group on Sunday revealed that it will be working towards expansion of its retail footprint and has announced that it invested RMB 5.45 billion (around $867 million) for 15% stake in Beijing Easyhome Furnishing, China’s second-largest home-improvement supplies and furniture chain and invested $486 million in Shiji Retail Information Technology, for 38% stakes. “The investment will combine the strengths of the world’s largest e-commerce platform and rich offline sources of Easyhome,” Alibaba said in a statement. Alibaba has been working on its strategy- "new retail" which is aimed at combining online and offline. As a part of this strategy, the Beijing Easyhome deal is Alibaba's fourth major investment in a brick and mortar chain after it bought majority of stakes in hypermark...

Bengaluru Based Flutura Raises $7.5 Million Series A Funding

Flutura Decision Sciences and Analytics (Flutura), the Industrial Internet-of-Things (IoT) company today announced a fund raise of $7.5 million (approx. 51 crore), one of the largest in the Industrial Intelligence space. This Series A round is led by Vertex Ventures and supported by Lumis Partners and existing investor, The Hive. Founded in 2012, Flutura provides mission critical insights to drive industrial outcomes, based on their capability to interpret machine signals from connected assets and connected processes. Applicability of the solutions ranges from powering new business models for machinery manufacturers to optimizing complex process and discrete manufacturing operations. Their flagship software platform, Cerebra, provides diagnostics and prognostics through machine le...