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HealthTech Firm Niramai Secures $6-7 million from Exisiting Backers

27Nov By Gauri SinghNo Comments

FUNDING

HealthTech Firm Niramai Secures $6-7 million from Exisiting Backers

Healthtech startup Niramai has secured funds around $6-7 million in a funding round. The round was led by existing investors Pi Ventures, Axilor, Ankur Capital and Flipkart cofounder Binny Bansal. Niramai Health Analytix is building an artificial intelligence (AI)-based tool for a non-invasive, non-touch, non-radiation approach to detect breast cancer. The technology, called Thermalytix, helps remove the technological, logistical and cost barriers for breast cancer screening among women. Niramai was founded in 2016 by Geetha Manjunath, who has 25 years of experience in areas such as data analytics, machine-learning and cloud computing, and Nidhi Mathur, with experience in business planning, strategy and product management. Both the cofounders had previously worked with Xerox Research...

26Nov By Gauri SinghNo Comments

FUNDING

SaaS Startup Verloop Raises $3 Million in Series A Funding

SaaS customer engagement automation provider Verloop has raised $3 million in Series A funding round led by IDFC Parampara Fund. The other investors who participated in the round include Kris Gopalakrishnan - Infosys Co-founder and Dr Ranjan Pai - Chairman of the Manipal Education and Medical Group (MEMG). The Y-Combinator startup said that the fresh funds will be utilized to enhance the Verloop customer engagement platform as the company expands its team and scale operations. The startup’s customer portfolio includes Nykaa, Qtrove, Pipa Bella, Portea, Apollo Munich Health Insurance and Aadhaar Bridge. Further, it has also been used in Indian entertainment including Rajinikanth for his movie Kaala, other mainstream and niche celebrities, publication houses and entertainment magazines...

26Nov By Gauri SinghNo Comments

FUNDING

Tech Firm GOQii Raises $30 million in Equity Funding Round

GOQii Inc, a wearable devices maker has reportedly raised an amount of $30 million (about Rs 212 crore) in its latest equity financing round. The company is based in Menlo Park and Mumbai and is looking to enter into the overseas markets over the next 12-18 months. The funding was led by Japanese conglomerate Mitsui & Co. The particular round also saw participation from crypto investment firm Galaxy Digital and Denlow Investment Trust. Following this funding round, the valuation of the four-year-old startup has reached $100-125 million. Existing investors DSG Consumer Partners, NEA, Edelweiss Financial Services and Cheetah Mobile also participated in the financing round. Also, businessmen like Paytm founder Vijay Shekhar Sharma and Tata Group chairman emeritus Ratan Tata also par...

24Nov By Gauri SinghNo Comments

FUNDING

Top Five Funding of the Week (19th Nov – 24th Nov)

Funding is the act of providing financial resources, usually in the form of money, or other values such as effort or time, to finance a need, program, and project, usually by an organization or company. Funding is a major part of a business and here we have come up with the top five funding activities of the last week that started from 19th November and lasted till 24th November. 1) Geek+ Beijing-based robotics startup Geek Plus (Geek+) has reportedly secured funds amounting to $150 million in Series B funding round. The particular round was led by Warburg Pincus, with participation from other shareholders including Volcanics Venture and Vertex Ventures. With these funds, the company is planning to seize that growing opportunity by investing in product devel...

MagicPin Parent Secures $20 million Led by Lightspeed US

23Nov By Gauri SinghNo Comments

FUNDING

MagicPin Parent Secures $20 million Led by Lightspeed US

The owner and operator of discovery and rewards platform MagicPin known as Samast Technologies has secured funds amounting to $20 million (Rs 141 crore) in a funding round led by Lightspeed Venture Partners US. With this funding round, the valuation of the company has reached an estimated $100 million. The total funding of the three-year-old venture with this round has become about $30 million in equity financing. “The round was led by Lightspeed US, with partners Jeremy Liew and Ravi Mhatre, who have now come on board… We’re now possibly the largest platform driving business to offline retailers and brands in the country,” Anshoo Sharma, chief executive officer of MagicPin stated. The company was founded in 2015 by Sharma and Brij Bhushan. The two founders were at Lightspeed India an...

23Nov By Gauri SinghNo Comments

FUNDING

Robotics Startup Geek+ Raises $150 Million in Series B Funding

Beijing-based robotics startup Geek Plus (Geek+) has reportedly secured funds amounting to $150 million in Series B funding round. The particular round was led by Warburg Pincus, with participation from other shareholders including Volcanics Venture and Vertex Ventures. With these funds, the company is planning to seize that growing opportunity by investing in product development, sales and customer service. Also, the company has stated that this is the largest-ever funding round for a logistics robotics startup. Geek+ has not disclosed its valuation after the funding round. The company claims to have delivered more than 5,000 robots across some 100 robotics warehouse projects in China, Hong Kong, Taiwan, Japan, Australia, Singapore, Europe, and the United States. Current customers i...

Singapore-based Fintech Firm Instarem Raises $20 million

22Nov By Gauri SinghNo Comments

FUNDING

Singapore-based Fintech Firm Instarem Raises $20 million

Singapore based cross border fintech startup Instarem has reportedly raised an amount of over $20 million in Series C funding round. This round was led by the VC arm of Indonesian telecom operator Telkom, MDI Ventures and the fund belonging to Thai bank Kasikorn, Beacon. Along with this, existing investors such as Vertex Ventures, GSR Ventures Rocket Internet and the SBI-FMO Fund also participated in this round. The funds raised through the round will be used by the company majorly for global expansion. With this round, the total funding of the company has reached nearly $40 million to date. “We are a the stage where the color of the money is very important,” CEO Prajit Nanu said. “It is very key to us that we bring people into the round who can add value to our business.” The comp...

IoT firm Detect Technologies Secured $3.3 million for International Expansion

21Nov By Gauri SinghNo Comments

FUNDING

IoT firm Detect Technologies Secured $3.3 million for International Expansion

A Chennai-based internet of things (IoT) company known as Detect Technologies has reportedly secured funds amounting to $3.3 million (Rs 23.6 crore) from SAIF Partners in a Series A round of funding. This funding marks the VC fund’s third such investment in the Internet of Things space. Backers like Bharath Innovation Fund, Axilor Ventures, BlueHill Capital and a few angel funds from the Keiretsu Forum also participated in the round. The company is planning to use these funds for international expansion, starting with Europe, and for building manufacturing capability for mass production of its patented technology products, Gumps and Noctua. Founded in 2016 by IIT-Madras alumni Daniel Raj David, Harikrishnan AS, Karthik R and Tarun Mishra, the startup uses its drone (Noctua) and an...

Gaming Startup Mech Mocha Raises $10 million in Series B Round

20Nov By Gauri SinghNo Comments

FUNDING

Gaming Startup Mech Mocha Raises $10 million in Series B Round

A mobile gaming startup known as Mech Mocha Game Studios which is based in Bengaluru has raised a sum of $10 million (Rs 71 crore) as a part of its ongoing Series B funding round. With this, the company is expecting to raise around $5-6 million for the first close from new and existing investors, Arpita Kapoor. She is the co-founder and chief executive of the venture. “We will be closing the targeted sum soon,” Arpita Kapoor said. South Korea-based Neoplux, the private equity and venture capital arm of Doosan Corp, and Akatsuki, the investment arm of Japanese mobile gaming company are the new investors in this round. Along with this, Accel Partners, Shunwei Capital and Blume Ventures will also participate in the funding round. The company is planning to use these funds to de...

Sweden-based E-scooter Startup VOI Raises $50 million

19Nov By Gauri SinghNo Comments

FUNDING

Sweden-based E-scooter Startup VOI Raises $50 million

Sweden-based e-scooter startup VOI Technology has reportedly raised funds amounting to $50 million in Series A funding round. This round was led by London-based venture capital firm Balderton Capital. Along with this, backers like LocalGlobe, Raine Ventures, and previous VOI backer Vostok New Ventures also participated in the funding. A number of angel investors also participated that include Cristina Stenbeck, Jeff Wilkes (Amazon), Justin Mateen (co-founder of Tinder), Nicolas Brusson (CEO and co-founder of BlaBlaCar), Sebastian Knutsson (co-founder of King), Spencer Rascoff (CEO of Zillow), and Keith Richman. The company is planning to use the funds so raised for expanding into new European markets. Belgium, the Netherlands, Luxembourg, France, Germany, Italy, Norway, and Portugal ...

17Nov By Gauri SinghNo Comments

FUNDING

Top Five Funding of the Week (12th Nov – 17th Nov)

We have again come up with the top five funding activities that took place this week. Funding is one of the most important steps in the growth of a business. Therefore, every week, we throw light on the important funding activities. This week was very active in terms of funding process and the company that raised the highest amount of funds was Brazil based technology conglomerate known as Movile. Lets move forward and know more about these funding activities: 1) Movile A Brazil based technology conglomerate known as Movile has just raised funds amounting to $400 million. This round was led by existing investors including Naspers and Innova Capital. The funds have basically been raised for its iFood subsidiary. The company was founded by chief executive officer Fabricio...

RPA Firm Automation Anywhere Secures $300 million from SVF

17Nov By Gauri SinghNo Comments

FUNDING

RPA Firm Automation Anywhere Secures $300 million from SVF

The RPA company Automation Anywhere has been raising valuable funds for a long time and this time, the company has raised $300 million in Series A financing round. This particular round was led by SoftBank Vision Fund. Following this funding round, the valuation of the company has reached $2.6 billion. Prior to this, the company raised $250 million. “With this additional capital, we are in a position to do far more than any other provider. We will not only continue to deliver the most advanced RPA to the market, but we will help bring AI to millions,” Mihir Shukla, CEO and Co-Founder at Automation Anywhere stated. Various RPA companies have been raising funds at an enormous pace this year. Another firm, UiPath also raised $265 million in its Series C round at a $3 billion valuation. ...