Investment

Indian Cleantech Start-up Solavio Labs Raises Funds from 3 Government Bodies
Investment, News

Indian Cleantech Start-up Solavio Labs Raises Funds from 3 Government Bodies

Solavio Labs, the Indian clean tech start-up innovating solar panel cleaning technology for the world today announced the completion of funding from Canadian Province – New Brunswick for INR 40,60,000 taking their total fund raised to INR 2 crores. This marks Solavio Labs as an Indian start-up in the clean tech space to receive support from three Government bodies- India, Dubai and Canadian the last one year. With this fresh round of funding, the company also announced its expansion into the Middle East and North American Market. And, to support the growing global demand for PV technology, Solavio Labs also intends to scale its manufacturing base in India with the production of 12,000 units by end of the FY 21-22. Commenting on the occasion, Suraj Mohan, Co-Founder – Solavio Labs s...
Instant Tutor App Filo Raises $260K Pre-seed Round
Education, Investment, Startup

Instant Tutor App Filo Raises $260K Pre-seed Round

Instant tutor app Filo has raised $260K as part of its pre-seed investment round from Better Capital based on organic adoption by students purely driven by word of mouth. With the mission to democratize access to the best teachers, Filo was founded by school friends Imbesat Ahmad and Shadman Anwer in Oct 2020.  At any time more than 10 million students study for school exams, college entrance or government job exams but at least half of them lose motivation due to lack of timely & reliable support for their queries. On Filo, they can access a tutor on demand within just 60 seconds for a one- to- one video call. In a short period of time, 35,000+ students have completed 1.5 million minutes of sessions on Filo - getting help for critical questions from high quality tutors wit...
Eduvanz Raises $10 Million in Debt Funding
Investment, News

Eduvanz Raises $10 Million in Debt Funding

Eduvanz, a Non-banking Finance Company (NBFC) that enables students to Study Now, Pay Later at 0% interest rates has raised $10 million in debt funding from multiple financial institutions including InCred Financial Services, Vivriti Capital, and Northern Arc Capital. Eduvanz aims at changing the way India pays for education by enabling learners to apply for low-cost loans via its digital platform. It has already enabled more than 25,000 learners and has disbursed loans worth Rs 300 crore. During the period of April 2020 to December 2020 when the pandemic hit the unique customer base of Eduvanz grew by four times and monthly disbursal of loans grew up three times. Says Varun Chopra, CEO, and Co-Founder of Eduvan...
TenderCuts Raises $15 Mn Led by Paragon Partners and NABVENTURES
Investment, News

TenderCuts Raises $15 Mn Led by Paragon Partners and NABVENTURES

TenderCuts, the omnichannel meat & seafood brand today announced that they have raised INR 110 crore (USD 15 million) in a round led by Paragon Partners, a mid-market PE fund founded by Siddharth Parekh and Sumeet Nindrajog with participation from NABVENTURES, a leading agri-food tech VC fund backed by NABARD. The funding will allow TenderCuts to expand its current operations and pursue organic and inorganic growth opportunities. The funds will also allow the company to invest in scaling up its supply chain and technology infrastructure to support innovation and accessibility of its products and services. Founded in 2016 by Nishanth Chandran, TenderCuts is revolutionizing the way meat and seafood is sold in India. Indian consumers, unlike their western counterparts, prefer fresh...
MediBuddy Closes $40 Mn in Series B Round
Investment, News

MediBuddy Closes $40 Mn in Series B Round

MediBuddy, a digital healthcare platform, announced the closure of its $40 million Series B round. This follows the recent infusion of $20 million led by India Life Sciences Fund III, LLC, with participation from other investors. The digital healthcare platform had earlier announced an initial funding of $20 million (INR 150 crores) in June 2020 under this round. MediBuddy is led by co-founders Mr. Satish Kannan & Mr. Enbasekar as the CEO and the CTO respectively.  In June 2020, to create market leadership in the digital healthcare industry, DocsApp (India’s leading online doctor consultation platform) merged with MediBuddy and has been operating under a single brand name MediBuddy since then. Addressing the press conference, Mr. Satish Kannan, Co-Founder & CEO, MediBud...
Sterlite Power Raises INR 200 Cr from Allianz Global Investors
Investment, News

Sterlite Power Raises INR 200 Cr from Allianz Global Investors

Sterlite Power, a leading global power transmission player, announced today that it has raised INR 200 crore in debt financing from Allianz Global Investors (Allianz GI) - one of the world’s leading investment managers with focus on sustainable investments. This transaction is one of the first infrastructure sector financing deals for Allianz GI in India. The INR 200 crore facility from Allianz GI has been raised as a non-convertible debenture with a three-year tenure and is part of the larger refinancing exercise undertaken by Sterlite Power to reduce its holding company borrowings. Sterlite Power is increasingly focused on integrating renewable energy (RE) to the grid. The company enjoys an impressive track record of completing projects on time with the ...
Jumbotail Raises $14.2 Mn in Series B3 Round Led by VII Ventures
Investment, News

Jumbotail Raises $14.2 Mn in Series B3 Round Led by VII Ventures

Jumbotail, a new retail platform and B2B marketplace for food and grocery products, has raised $14.2 million Series B3 round of funding led by VII Ventures with participation from Nutresa, Veronorte, Jumbofund, Klinkert Investment Trust, Peter Crosby Trust, Nexus Venture Partners, Discovery Ventures, and a group of HNIs and industry leaders. This round comes in quick succession after a $11M Series B2 round raised in October 2020, bringing the total funds raised by the company to $54mn. Ashish Jhina, Co-founder, Jumbotail, said, “Jumbotail is at an inflection point in its growth trajectory. We are seeing tremendous interest from investors across the globe who are drawn to our highly scalable and operationally profitable business model, built on the industry's best technol...
Practically Raises $4 Million in pre-Series B Round
Investment

Practically Raises $4 Million in pre-Series B Round

Mumbai, Jan. 05, 2021: Practically, a product of 3rdFlix Visual Effects Pvt Ltd, announced that it has raised $4 Million in a pre-Series B round. The round was led by Siana Capital, a deep tech investor, with participation from existing investors YourNest Venture Capital and Exfinity Ventures. The company had previously raised Series A funding of $5 Million in 2019. The funds will be invested in expanding the operations of Practically.  The Practically School Solution, a B2B2C offering, gives schools and its teachers access to the Practically teacher app FREE of cost. Teachers can access 3000+ videos and 1000+ Simulations/AR and features like virtual classes, test -prep, assessments, analytics, and assigning homework, etc. The app covers universal curriculum across ...
Legalwiz.in Raises Rs 3.8 CR Funding from ContCentric
Investment, News

Legalwiz.in Raises Rs 3.8 CR Funding from ContCentric

Ahmedabad, Jan. 05, 2021: Legalwiz.in, Gujarat-based LegalTech firm, today announced that it has raised Rs 3.8 crores of funding from ContCentric IT Services Private Limited, an enterprise content management company. Started in April 2016 to cater to StartUps & SMEs, Legalwiz.in enables legal, financial, corporate & taxation compliances. Speaking on the occasion, Mr Shrijay Sheth, Founder – Legalwiz.in, said, “We are excited about the funding from ContCentric because it will help to optimize Legalwiz.in performance and create new avenues for delivering greater value. It is a strategic funding against Technology roadmap for Legalwiz.in. This dovetails with our founding credo of Simple – Affordable – Transparent – because leveraging ContCentric’s proven expertise, ...
CoinDCX Raises $13.9 Mn in Series B Funding Round
Investment, News

CoinDCX Raises $13.9 Mn in Series B Funding Round

New Delhi, Dec. 22, 2020: CoinDCX, an Indian cryptocurrency exchange, raised Rs 100 crore ($13.9 million) from eminent investors, including returning investors from previous rounds. The series B round was led by Block.one and included DG, Jump Capital, Uncorrelated Ventures, Coinbase Ventures, Polychain Capital, Mehta Ventures and Alex Pack. This makes for the third round of funding for CoinDCX in 2020. In March 2020, CoinDCX raised Series A funding worth $3 million from companies such as Polychain Capital, Bain Ventures and Bitmex. In May 2020, the exchange raised $2.5 million in a strategic round from the above companies as well as Coinbase Ventures, the investment arm of San Francisco-based cryptocurrency trading platform Coinbase. Compiling all three rounds of funding this yea...