PRAVEGA VENTURES
Fintech startup Mintoak buys payments company Digiledge
The startup, which is backed by Pravega Ventures, HDFC Bank, and PayPal, will use the funds to acquire firms that offer complimentary services to small enterprises. Its first buy, Digiledge, offers bill payments and CBDC.
FanTV raises $3 million to transform AI-powered content creation
This new funding, backed by Mysten Labs, Cypher Capital, CoinSwitch Ventures and Illuminati Capital will fuel FanTV’s mission to revolutionize digital content creation with AI-driven tools.
ETtech Deals Digest: Startups raise $96.3 million in week to January 25, down 51% on-year
The funds were raised by startups across seed and early stages through 30 deals, down from 39 in the same period of the previous year.
IIFL Fintech Fund closes Rs 200 crore second fund
The fund, which received money from domestic family offices and HNIs, will focus on investments in fintech startups including those in the GenAI space. To date, IIFL Fintech Fund has backed 14 startups.
Digital transaction monitoring startup VuNet Systems raises Rs 60 crore in Series B funding
The round was led by Pravega Ventures. Kotak Securities, a subsidiary of Kotak Mahindra Bank, and existing investors such as Mela Ventures, Athera Venture Partners (formerly Inventus India), Dallas Venture Capital, and TVS Capital Funds participated. The funds will be used to expand its global footprint, push growth in India and other key markets, enhance product capabilities, and scale its sales and marketing efforts.
Defence tech startup Constelli raises $3 million in round led by Pravega Ventures
The company plans to use this first institutional funding for capital expenditure and R&D for new products.
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ETtech Deals Digest: Startups raise $398.4 million in week ending January 10, up threefold on-year
The funds were raised through 19 rounds, down from 36 in the year-ago period, when they raised $1.53 billion.
Mintoak gets a new investor Z3Partners through a secondary deal
Speaking with ET, Raman Khanduja, cofounder, Mintoak said that through this deal with Z3Partners, the idea is to reach out to more banks in West Asia and Africa, since some of the investor's limited partners are well connected in those areas. Currently Mintoak gets less than 10% of its overall revenue from its international business and the target is to take it to 25% of the business in the next three years.
Fintech startup GrayQuest raises Rs 80 crore from IIFL Fintech Fund, Ranjan Pai's Claypond Capital
This funding follows GrayQuest’s Rs 56 crore (around $7 million) Series A round in March 2023, which was led by Pravega Ventures, along with participation from family investors such as Weizmann Group, Telama Family Office, and Apurva Parekh from the Pidilite Family Office.
Supply chain finance startup Cashinvoice raises $3.4 million in funding round led by Pravega Ventures
The company has been engaged with HDFC Bank for the last two years to digitise the latter’s internal supply chain finance. The startup will subsequently be able to benefit from HDFC Bank’s corporate banking relationship with over 5,000 anchor companies, cofounder Shrinivas Kasar told ET.
SalarySe secures $5 million in seed funding from Peak XV Surge, Pravega
The startup, founded by IIT graduates Piyush Bagaria and Saumeet Nanda along with Mohit Gorisariya, a chartered accountant, is building a tech platform to offer credit on digital payment railroad UPI.
B2B SaaS startup Leucine raises $7 million in funding led by Ecolab
Leucine cofounder and CEO Vivek Gera told ET that the company will prioritise building its go-to-market (GTM) motion, ramp up AI capabilities and expand the team over the next two-three quarters.
Fintech startup GrayQuest raises $7 million in funding led by Pravega Ventures
The round was led by Pravega Ventures, with participation from family investors such as Weizmann Group, Telama Family Office and Apurva Parekh from the Pidilite Family Office, it said in a statement.
SaaS startup Mintoak raises $20 million in funding led by PayPal Ventures
Mintoak, founded in 2017, plans to deploy the latest capital to ramp up its technology stack and double down on its existing product portfolio.
ETtech Deals Digest: Funding for Indian startups dropped 79% YoY this week
Here is a list of startups that raised money this week.
ChefKart raises $2 million in funding led by Blume Ventures, Pravega Ventures
ChefKart offers qualified and vetted home chefs who prepare hygienic meals as per the user's preferences.
PropShare raises Rs. 367 crores in Series B funding
PropShare will use the proceeds to rapidly scale the platform across geographies and real estate asset classes by expanding distribution channels and investing in technology and people. On the customer’s side, the company will focus on leveraging technology to further improve user experience on the platform by enhancing liquidity, adding newer product lines and strengthening investor relations.
Proptech startup PropShare raises $47 million led by WestBridge Capital
PropShare to use capital to scale its platform across geographies and real-estate asset classes.
Agritech startup Otipy raises $32 million in funding led by Westbridge Capital
The fresh capital will support Otipy's expansion to new pin codes, strengthen its supply chain, invest in cutting edge tech, add product categories, founder Varun Khurana said.
Fintech startup ePayLater raises $10 million from investors
The startup, which specializes as a pay later firm for small businesses, counts Pravega Ventures, ICICI Bank and Japan’s GMO Global Fintech Fund as existing backers.
Flexmoney raises $4.8 million in funding from Pravega Ventures, others
Flexmoney is planning to use the funds to scale its credit network footprint to many more lenders and merchants
Kaagaz Scanner secures $575,000 in funding led by Pravega Ventures
Since its launch in June 2020, Kaagaz Scanner is installed on over 1.9 million phones. More than 90,000 people use the app every day and more than 50 million pages have been scanned using Kaagaz so far.
Payment solutions firm Mintoak raises Rs 15 cr in pre-series A from Pravega Ventures
The capital raised will be used to strengthen the technology platform and hiring more people.
Shubh Loans gets $4.8 million
Existing investors Saama Capital, Beenext, SRI Capital and Pravega Ventures also participated in the round.
Datasigns Technology gets $1.5 million for its online lending platform Shubh Loans
Started in 2016 by Monish Anand, Rahul Sekar, Anand Barua and Tushar Patel, Shubh Loans is a vernacular language app that builds a proprietary credit score and report for loan applicants, who can then borrow from any of the nine banks and NBFCs on the platform.
Crofarm gets Rs 5 crore seed in Pre-Series A
Crofarm offers a digitised supply chain for agricultural products by bringing farmers and retailers on a common platform.
Property Share raises funding from Japanese firm Asuka and existing investors
Founded by IIM-Ahmedabad alumni Hashim Khan and Kunal Moktan, the platform manages commercial and residential properties worth Rs 50 crore. It is aiming to manage properties worth Rs 250 crore by the end of 2017.
Expense management platform Fyle Technologies raises Rs 2.7 cr in a seed round
BeeNext, a venture fund by Japanese ecommerce entrepreneur Teruhide Sato, and a clutch of angel investors including redBus cofounder Phaninder Sama, Zivame founder Richa Kar and Joydeep Sen Sarma, cofounder of cloud company Qubole, too, took part in the funding round.
Seed rounds get VC knock as valuation seem attractive
Practically all new funds have spawned their investment themes around product innovation, education and healthcare sectors. Niche business ideas such as data analytics and cloud computing also rank high on the preference list of most funds.
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