Investment

SalaryBox Raises undisclosed amount in pre-seed funding round

SalaryBox Raises undisclosed amount in pre-seed funding round

Investment
Gurugram: SalaryBox, a startup that simplifies the payroll process for small businesses, has raised an undisclosed amount in its pre-seed funding round. GSF Accelerator led the round, with the participation of marquee individual investors Alok Mittal, CEO, Indifi; Amit Ranjan, ex-CoFounder, SlideShare; Sumit Jain, Co-Founder, CommonFloor; Surjendu Kuila, Co-Founder, Zopper. The start-up said that it would use the funds to accelerate product development and drive customer acquisition. Founded in 2020 by IIT Roorkee Alumni Nikhil Goel & Peeyush Goyal, SalaryBox has built a mobile-first SaaS product that makes salary calculation and payments simple & convenient for small businesses. “Small businesses that employ blue-collar workers still resort to manual, paper-based payroll pr...
Glamplus raises INR 2 crore in Pre-Series-A funding round

Glamplus raises INR 2 crore in Pre-Series-A funding round

Investment
Delhi: Salon-focused SaaS platform Glamplus has raised Rs 2 crore in a Pre-Series A round led by Inflection Point Ventures, one of India’s largest angel investment platforms in India. Few of the other investors in this round are Anil G (Co-Founder & COO at Bounce) Sachin Khandelwal (MD & CEO at Sadhan Enterprise), Sravan Kumar (CEO at Transin), Abhishek Daiya (AVP at Byju's) and Anudeep Nagalia (VP at Shadowfax). They have invested in personal capacity. Funds raised will be used for enhancement of product & tech capabilities and business expansion. The funds will also be utilized in scaling to 3000 partners in the next 6 months along with vertical expansion of the business line. With an absence of SaaS based system for Salons, the management of customers has been mostly ...
Education MarTech Startup ExtraaEdge Raises $1M in Pre-Series A Round

Education MarTech Startup ExtraaEdge Raises $1M in Pre-Series A Round

Investment, News
Pune: ExtraaEdge, a Pune-based martech startup focused on the education sector has raised $1 million in a pre Series A round from Pentathlon Ventures. The round also saw participation from other investment firms - 9Unicorns, Indian Angel Network, Faad Network and DevX Innovation. Prominent angels like Monish Darda (Co-Founder & CTO, Icertis a SaaS Unicorn ), Manasij Ganguly ( ex CEO – Threadsol ) & Aditya Somani ( ex - Premji Invest) also participated in the round along with the existing investors Sprout Venture Partners, and TiE Pune Angels. Founded in 2015 by Abhishek Ballabh and Sushil Mundada, ExtraaEdge is a new-age, vertical SaaS marketing technology player in the education marketing industry. It leverages its full-stack revenue assurance platform and CRM software to help ...
FloBiz Raises $10 Mn from Elevation Capital and Existing Investors

FloBiz Raises $10 Mn from Elevation Capital and Existing Investors

Investment, News
Mumbai: SMB digitisation startup FloBiz has raised $10 Mn in a Series A round led by Elevation Capital. The latest round saw participation from existing investors Greenoaks Capital and Beenext. FloBiz that offers a billing and accounting app myBillBook as its flagship product intends to use the capital for team expansion, product development and accelerate sales and marketing efforts. Driven by multiple tailwinds such as mobile/data penetration, GST compliance, technology adoption and lately Covid-19, historically dispersed SMBs (small and medium businesses) in India are getting more organised and formalised. While technology advancement and digitisation push has led to several transformations in the sector, essential software like custom ERPs and legacy accounting systems still come at...
IndiaLends Raises US$5.1 M from Existing Investors

IndiaLends Raises US$5.1 M from Existing Investors

Investment, News
Digital lending platform IndiaLends has raised US$5.1 million in a financing led by existing investors ACP Partners and DSG Consumer Partners. The Delhi NCR based firm will use the funds to expand its technology platform, increase its market footprint and amplify its product offerings to meet the pent-up demand in a post-COVID economic recovery. IndiaLends has already won the trust and confidence of over 8 million customers and disbursed more than INR 2,000 crores in personal loans since its launch via its technology platform and API-based lending solutions that it offers to other B2C companies. The company aims to emerge as the leading financial marketplace in India and double the disbursements in the next 18-24 months with a focused outreach towards retail consumers living a...
Ecom Express Receives US $20 Mn Follow-on Investment from CDC Group

Ecom Express Receives US $20 Mn Follow-on Investment from CDC Group

Investment, News
CDC Group, the UK Government’s development finance institution and impact investor in South Asia and Africa, today announced that it has closed a US$ 20 Million investment round in Ecom Express, a leading tech-enabled end-to-end logistics solutions provider to the Indian e-commerce industry. This will be CDC’s second round of investment in Ecom Express after its initial investment in December 2019. CDC’s latest commitment will support Ecom Express in advancing the company’s sustainable development and impact agenda of enhancing skills and boosting job creation in the Indian hinterlands. With the high demands for jobs in India, the country needs to create 8.1 million jobs a year to maintain its employment rate. This investment supports India’s effort as it will enable Ecom Express to cre...
Indian Cleantech Start-up Solavio Labs Raises Funds from 3 Government Bodies

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

Investment, News
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 sai...
Instant Tutor App Filo Raises $260K Pre-seed Round

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

Education, Investment, Startup
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 withi...
Eduvanz Raises $10 Million in Debt Funding

Eduvanz Raises $10 Million in Debt Funding

Investment, News
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 Eduvanz...
TenderCuts Raises $15 Mn Led by Paragon Partners and NABVENTURES

TenderCuts Raises $15 Mn Led by Paragon Partners and NABVENTURES

Investment, News
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 (...