[Funding roundup] Preliminary agreements lifted by Finbots.AI, TEAL, TravClan, etc.
AI Fintech Startup Finbots.AI Raises $3M from Accel in Series A
Accel’s Fund VII invested in the round of Finbots.AI. The funds will be used to improve the product, for marketing and sales, adding customer service members, and hiring senior talent on the startup’s teams.
Founded in 2017 by Sanjay Uppal and Shripad Neni, Finbots helps financial institutions make better credit decisions using AI through its plug-and-play model that can be deployed on existing infrastructure.
The startup has offices in Singapore and a regional headquarters in Dubai.
Proptech Startup TEAL Raises $2M From Omidyar Network, Info Edge
The Bengaluru-based startup said it would use the funds to expand its data engineering capabilities, increase its geographic coverage and provide better analytics-based insights to its customers.
TEAL’s analytics tools organize and deliver real-time data on individual real estate properties to banks, mortgage companies, and trading parties. It has data on 50 million properties, currently, in 52 cities.
“We are building India’s first digital title verification system in India, similar to a CIBIL for properties. Just as CIBIL has radically transformed the personal loan process in India, simplifying an otherwise manual and messy series of procedures to perform due diligence reasonable on an individual before giving a loan, we aim to do the same for real estate,” said Kshitij Batra, co-founder and CEO of TEAL.
B2B travel platformRaises $4.7M in Extended Pre-Series A
The startup raised $2.2 million last year from TheVentures and Leo Capital.
Its latest round saw participation from Hashed Emergent Fund and global angel investors including Nick Talwar (CEO of Circle Up), Aayush Phumbra (former co-founder of Chegg), Travis Katz (former co-founder of Trip.com ), Pritesh Gupta (Ex co-founder of Zipgo), and Vikram Chopra and Mehul Agrawal (Co-founders of Cars24), among others.
The startup said it will use the funds to launch operations in the United States and the Southeast over the next 12 months, and double its products and development. He added that he expects to achieve a GMV run rate of $500 by the end of FY23, and the latest capital injection will help him do that.
Founded in 2018 by Arun Bagaria, Chirag Agrawal and Ashish Thapliyal, TravClan helps travel entrepreneurs grow their travel business by quickly setting up their websites online.
Medical education marketplace eMedEvents raises $150,000 from We Founder Circle
eMedEvents announced Thursday that it has raised $150,000 in funding from startup investor We Founder Circle, which will be used to expand the platform, develop the SaaS model for healthcare professionals and penetrate deeper into the market.
eMedEvents helps healthcare professionals stay abreast of medical developments in their area of practice and provide opportunities for lifelong learning and development. The startup has served 15 million healthcare professionals in the past six years since its inception.
“At eMedEvents, our mission is to connect Continuing Education (CME/CE) providers with physicians, clinicians, dentists, nurses and other healthcare professionals to get the right CME/CE,” said Priya Korrapati CEO and Founder of eMedEvents.
drone manufacturerraises $20 million led by Florintree
The round also saw participation from its existing investors such as Celesta Capital, a leading deep tech investment fund, Infosys, Qualcomm, Infina, as well as Exim Bank of India.
Founded in 2007 by IIT Bombay alumni, ideaForge is backed by over 15 years of research and development (R&D) with over 20 global patents. It dominates the Indian market with its drones deployed by the defense sector, homeland security and corporate customers.
The startup claims to have repeat contracts from the Indian Army for its SWITCH UAVs and its other customers include the Indian Navy, Air Force, State Police Force, BSF, NSG, CRPF, Adani, L&T , Indian Oil, Survey of India, Indian Railways, etc.
Rural vehicle marketRaises $5.7M in Seed Funding from Info Edge Ventures, Omnivore
Existing investors AgFunder GROW Impact Fund and Rockstart Agribusiness Fund also participated in the round, alongside angels including Vikram Chopra and Mehul Agrawal — the co-founders ofVellayan Subbiah and Arun Venkachalam of the Murugappa Group Company.
According to the official statement, the startup plans to use the new capital to increase hiring, expand financial services, and launch physical stores for used tractor deals across northern India.
Launched in 2019 by Animesh Agarwal, Rajat and Shivani Gupta, Tractor Junction is a digital marketplace for buying, selling, financing and insuring new and used tractors as well as agricultural equipment and rural utility vehicles.
Raises $28M in Series B from Tiger Global, Info Edge Ventures
Existing Investor, Edge Ventures Info, also doubled in the turn. The new round came just four months after the company closed its $7 million Series A fundraiser led by Info Edge.
With this capital, the company plans to penetrate deeper into major international markets. It also plans to strengthen its supplier base in India and South East Asia (SEA).
Founded in May 2021Geniemode works with buyers and manufacturers of furniture, home textiles, apparel and accessories to streamline and take control of the end-to-end supply chain, from design to delivery.
He created a technology platform for buyers with end-to-end cost transparency, based on MOQs (minimum order quantity), quality assurance, design library and complete order management, including compliance, monitoring, inspection, communication, information storage library, and logistics.
Less than a year after its creation, Geniemode now works with 150+ manufacturers of India and the SEA.
The company is on the right track $200 million in annualized GMV (gross merchandise value) execution rate by the end of FY23.
Raises $27M in Series B Led by Fundamentum Partnership
The healthcare startup’s round, which has a network of over 70 hospitals across India, also saw participation from a US-based fund 57 starsdirected by Rohit MA Capier Investmentsangel investors love Ashish Gupta, Khadim Batti, Vara Kumarand existing investors Stellaris Venture Partners, Vertex Ventures and Alteria Capital.
With this fundraiser, Prateek Jain of Fundamentum Partnership would be join Ayu’s health board.
Founded in 2019 by Himesh Joshi, Arjit Gupta and Karan Gupta, who sold their former company Zefo to Quikr, Ayu Health acquires specialist hospitals and rebrands them to create a network of hospitals.
Funds raised through the new round of investments will be used to expand Ayu Health’s hospital network and develop innovative technology solutions for patient experience, insurance processing, efficient procurement and quality management. clinic in the hospitals of the network. The startup plans to post 10x growth by the end of 2022.
James Murdoch and Uday Shankar lead $1.78 billion investment in Mukesh Ambani’s Reliance Viacom18
Mukesh Ambani’s Reliance Viacom18 has announced a $2 billion investment from Bodhi Tree Systems and Reliance Projects & Property Management Services. Bodhi Tree makes up the bulk of this investment, with an injection of $1.78 billion.
Bodhi Tree Systems is a platform between James Murdoch’s Lupa Systems and Uday Shankar.
The investment will be used to help bolster Viacom18’s streaming services in India. Currently, the company operates the OTT VOOT platform and the Colors TV channel suite.