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Chennai based Startup Raises $2mn From Calega

25Jun By NitishNo Comments

FUNDING

Chennai based Startup Raises $2mn From Calega

Online office supplies platform Aahaa Stores announced fresh equity infusion of USD 2 million, led by global investment group, Calega. The company plans to utilise the fresh investments to upgrade their technology, expand business across new verticals and geographies, enrich infrastructure by inducting more independent service providers and mobilise superior talent. The Chennai-based startup helps businesses save on indirect purchases spend by managing their supply chain, bringing collective bargaining benefits and streamlining the vendor network. Before this round the company raised capital funds twice, worth one million dollars each, from a group of investors led by YourNest. "We are well on course to achieve the first milestone of Rs. 100 million per month sales. Using these f...

CredRight Raises Rs 9 Crore Pre-Series A Funding

Hyderabad-based fintech startup CredRight raises 9 Crore from Accion Venture Lab, YourNest, an early stage venture capital fund along with other individual investors. Lending platform CredRight provides a loan to unserved and underserved micro, small, and medium enterprises (MSMEs). The company partners with chit funds, which are similar to Rotating Savings and Credit Association (ROSCAs) in the United States but use a reverse auction to distribute pooled funds across India to acquire customers and use previously untapped chit data, along with other data points, to underwrite a loan for a customer. "CredRight plans to further invest in technology, grow its team, and continue its expansion plans to reach even more unserved and underserved customers," said Neeraj Bansal, co-founder an...

Mumbai-based Robotics Company Miko Raises $2 Million Funding

Emotix, a revolutionary robotics, and consumer electronics company raised a funding round of over $2 million from IDG Ventures India and YourNest. This funding round also saw the participation of existing angel investor, Keshav Murugest, Executive Officer of WNS Global Services. Emotix, a Mumbai-based company now claims leadership over the social robotics market after taking the technology of robotics assistance a level further by incorporating emotion into its interface. The robot is powered by non-verbal cues like motion or physical gestures which facilitates human interaction a level ahead. The startup’s first companion robot, intended for children received very positive feedback few months after its launch. "The recent investment from funds advised by IDG Ventures India and YourN...