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Volvo Group Invests in Autonomous Mobility Software Apex.AI

9Dec By PriyankaNo Comments

FUNDING

Volvo Group Invests in Autonomous Mobility Software Apex.AI

Volvo Group Venture Capital AB has invested in Apex.AI, a leading software company in autonomous mobility. The investment will fund the development of a safety-certified software framework for autonomous systems. Apex.AI, a Palo Alto, California-based company founded in 2017, is building an automotive-grade version of ROS (Robot Operating System), an established open source software framework commonly used in robotics and autonomous systems research. By providing a safer and more reliable version of ROS that will be certified according to the functional safety standard ISO 26262, Apex.AI enables companies to take their autonomous vehicle projects into production. “We are excited to invest in a company that enables easier development of safety-certified systems,” says Anna Westerberg...

5Dec By AdityaNo Comments

FUNDING

CarDekho Raises $70 Million Series D Funding

New Delhi, Dec. 5, 2019-- India's leading automobile selling platform CarDekho raises $70 million Series D in funding from China-based Ping An Insurance Group, Sequoia Capital and Hillhouse Capital. This is Ping An's first venture investment in India through its Ping An Global Voyager Fund. CarDekho Group, founded in 2008, is one of India's leading autotech companies. It has successfully digitized the auto ecosystem in India and is aggressively pursuing the vision to own the personal mobility space by helping customers across their entire car buying and ownership journey. CarDekho Group currently has operations in India, Indonesia, and Philippines and operates leading Indian auto sites such as CarDekho.com, Gaadi.com, ZigWheels.com, BikeDekho.com, InsuranceDekho.com, and PowerD...

Paytm Invest in Bus Ticketing Software Provider

3Dec By NitishNo Comments

FUNDING

Paytm Invest in Bus Ticketing Software Provider

One97 Communications Ltd, which owns Paytm has made a strategic investment in Rajkot-based bus ticketing solutions provider Infinity Transoft Solutions. While the company did not disclose investment details, sources close to the development said Paytm has pumped in upwards of Rs 10 crore. Paytm entered the online bus ticketing space in 2015 and currently offers bus tickets across more than 62,000 routes through its integrations with more than 2,000 private bus operators. It also offers online ticketing for state-run road transport corporations in Andhra Pradesh, Telangana, Gujarat, Uttar Pradesh, Maharashtra and others. "We are excited to announce our strategic association with Infinity. This partnership will help us bolster our payments and ticketing technology solutions for b...

3Dec By PriyankaNo Comments

BUSINESS

Accel India Raises $550 Million Fund

Founded in Silicon Valley 35 years ago, VC firm Accel Indian subsidiary Accel India raises its sixth $550 fund. This is the largest fund amount Accel India has raised so far. "Accel India raises its first fund in 2005, the world was a very different place. Just one in 50 Indians had access to the internet and mobile phone ownership was nascent,” the company said in a press statement. India now has 600 million internet users and the country is also the home of more than 10,000 startups. Over the last 15 years, Accel has invested in more than 100 of these startups. “When we partnered with Freshworks in 2011, software-as-a-service as a category from India was almost non-existent. Our first cheque was $1 million when the company had six employees. Today, it has more than 2,500 employ...

2Dec By PriyankaNo Comments

FUNDING

Yulu Raises $8 Mn Funding from Bajaj Auto

Shared e-mobility service provider Yulu has secured $8 million (approximately Rs 57.2 crore) investment from two-wheeler major Bajaj Auto. As part of the tie-up, Yulu will source electric two-wheelers from Bajaj Auto which have been co-designed and manufactured exclusively for shared micro-mobility, Yulu said in a statement. Bajaj Auto will also consider facilitating vehicle finance needs of Yulu for a large-scale deployment of its micro-mobility electric vehicles, it added. “We believe that… congestion reduction and pollution control will drive the segment of shared micro-mobility in the future,” Bajaj Auto Managing Director Rajiv Bajaj said. That, coupled with the expansion of mass rapid transport systems like Metro in large cities, will further boost the demand for flexible ...

28Nov By PriyankaNo Comments

FUNDING

Corporate Travel Management Company Tripeur Raises $1M Funding

Tripeur, the world's smartest corporate travel management company, raised $1 Million funding from SenseAI, Better Capital, Alacrity India, Patni Wealth Advisors, and others. Existing investors Incubate Fund and Rajul Garg also participated. Tripeur's AI platform has powered over 1.4 lakh corporate travel transactions for over 50,000 business travelers and set new standards in corporate travel booking experience. The company is on track for yet another year of stellar growth and is planning to use the fund to grow 5X, further strengthen its Artificial Intelligence capabilities and explore international markets. "We are noticing that the corporates, small and large, are spending 20% to 30% more than what they ideally should on travel. Our singular purpose is to help corporates to contr...

25Nov By AdityaNo Comments

FUNDING

Paytm raises $1 billion in funding at $16 billion Valuation

NEW DELHI, 25th Nov 2019- India's leading digital payment firm Paytm has raised fresh $1 billion funds from a group of investors, including existing backers such as SoftBank’s Vision Fund and Alibaba’s Ant Financial. T. Rowe Price Associates, Inc. and Discovery Capital are the new investors participated in this round. However, Paytm did not officially disclose the details but as per Pixr8 sources Paytm raises $1 billion in the latest round. The company will expand into insurance, lending and investments and invest $1.39 billion over the next three years to include more users in the country, Paytm said. After this funding round Founder & CEO of Paytm, Vijay Shekhar Sharma has said, “At Paytm, we are committed to bringing half a billion Indians to the mainstream economy b...

24Nov By PriyankaNo Comments

FUNDING

CasaOne Raises $16 Mn in Funding led by Accel & Others

SAN FRANCISCO-- CasaOne, the San Francisco-headquartered furniture rental company has raised $16 million Series B round of financing led by Accel and existing investors JLL Spark, Freestyle Capital, NextWorld Capital, and Array Ventures. New investors include Quiet Capital, HNI and WeWork and a few prominent angel investors including Lydia Jett from Softbank’s Vision Fund. This round of financing will help CasaOne expand to new geographies, further invest in hiring technology and engineering talent and expand into adjacent product categories. CasaOne launched its category-defining furniture rental solution in 2017 that eliminated big points of friction that comes with sourcing, designing, set-up and maintenance of furniture, furnishings and equipment be it at a residence or an of...

22Nov By PriyankaNo Comments

FUNDING

Robotics Platform Automation Anywhere Raises USD 290 Mn Funding

Automation Anywhere, a provider of robotic process automation raises USD 290 million (Rs 2,080 crore) in funding, led by Salesforce Ventures. The series B round, which puts a post-money valuation of USD 6.8 billion on the company, also saw participation from existing investors including Softbank Investment Advisers and Goldman Sachs, a statement said. "The new capital will help Automation Anywhere accelerate its vision to empower customers to automate end-to-end business processes, bridging the gap between the front and back offices with an artificial intelligence-powered intelligent automation platform," it added. In addition, the funding will advance the company's focus on improving human-to-bot collaboration through attended automation, it said. Last year, Automation Anywher...

20Nov By AdityaNo Comments

FUNDING

Aye Finance Raises $17.43 Million NCD Funding

Fintech startup Aye Finance has raised $17.43 million (Rs 125 crore) funding from Dutch entrepreneurial development bank FMO through the issuance of non-convertible debentures. With this fundraising, Aye plans to expand its outreach in providing credit, specifically to women-owned microenterprises in India, the company said in a statement. "While we have women as co-applicants for over 95 percent of our loans, we believe we can do more in enabling the women micro-enterprises of India bring about a more transformative impact on the economy," Aye Finance MD and founder Sanjay Sharma said. Under the deal, FMO will work with Aye Finance to expand their services to women entrepreneurs in the country through a gender finance programme. "We expanded our branch network this year to Bih...

US based UST Global invests in Indian startup Cogniphi Technologies

20Nov By PriyankaNo Comments

FUNDING

US based UST Global invests in Indian startup Cogniphi Technologies

US-based tech company UST Global invested in Cogniphi Technologies, an AI and cognitive technology startup in India. The strategic investment will accelerate the development and advanced research of Cogniphi's Artificial Intelligence and Vision (AIVI) platform, and the companies will formalise a joint go-to-market strategy, a statement said. Cogniphi's AI solutions are used by manufacturing, retail, surveillance, public sector, healthcare, and logistics companies. The Trivandrum-based startup also has ongoing projects in telematics, security, and surveillance through its associate company, Ideas and Innovations Squared Technologies (II2). "Investing in Cogniphi Technologies reflects our continued commitment to offer the best of technologies for our clients. At Cogniphi, we have se...

11Nov By AdityaNo Comments

FUNDING

Fintech Firm Svasti Raises USD 10 mn

11th Nov, 2019: Svasti Microfinance has raised a funding of USD 10 million (about Rs 71 crore) for expansion of branch network and increasing MSME financing. Till date, Svasti has raised a total capital of USD 17 million. The capital was raised from Adar Poonawalla, Nordic Microfinance Initiative (NMI) and Rajiv Dadlani Group, the Mumbai-based company said in a release. "Apart from expanding its branch network, Svasti will use the capital raised to expand and increase its MSME loan portfolio and provide other financial services, such as consumer finance and insurance, in partnership with other leading institutions," the release said. A portion of the funds raised in the current round is being used to provide full exits to Michael and Susan Dell Foundation and Bamboo Financial In...