FutureTech

Groyyo, a B2B manufacturing startup, announced on Monday that it has raised $4.6 million in a seed round led by Alpha Wave Incubation (AWI). Groyyo, which was founded in July 2021, has been working with MSMEs throughout South Asia. Within six months of its inception, the company claimed to have empowered more than 200 manufacturers across South Asia by maximising their potential. The latest funding, it added, will help it build teams across key manufacturing clusters in South Asia, as well as expand its presence in the United States and…

Reliance Industries Ltd’s retail arm has acquired a 25.8 percent stake in Google-backed hyperlocal delivery startup Dunzo, extending billionaire Mukesh Ambani’s presence in the fast-growing grocery delivery market. Reliance Retail has made a $200 million investment in Dunzo as part of a $240 million funding round in the Bengaluru-based company. Existing investors Lightbox, Lightrock, 3L Capital, and Alteria Capital joined the round as well. In a statement issued on Thursday, Dunzo stated that it intends to use the new capital to accelerate instant delivery of essentials from a network of…

SecureNow, an end-to-end insurtech platform that currently serves 25,000 small businesses across 150 locations, has raised a total of US$ 6 million in its most recent funding round, which was led by Apis Insurtech Fund I – managed by Apis Partners LLP – and Charan Singh – founder of SelectQuote Inc. According to a press release, the company plans to expand its coverage to over a million businesses over the next three years, which is also when it expects to reach profitability. Both Apis Partners and Charan have extensive experience…

Fractal, a provider of artificial intelligence and analytics solutions, has raised $360 million in a new round led by TPG Capital Asia, which includes a combination of primary investment and secondary share purchase from Apax Partners-advised funds. The transaction, according to the company, is expected to close by the first quarter of 2022, and the investment will accelerate its ability to scale and meet rising demand globally. While Fractal has not disclosed its valuation after the current round, sources familiar with the project estimate it to be well over $1…

At a time when many Bollywood and sports stars are preparing to launch their digital collectibles, or non-fungible tokens (NFTs), actor-investor Rana Daggubati and Anthill Ventures founder Prasad Vanga have backed Indian-American entrepreneur Abinav Varma Kalidindi’s Indian metaverse company, Ikonz. Ikonz, which will be launched in August 2021, is a wealth-building platform that will assist IP owners, artists, and other established icons in managing their digital assets. Ikonz, according to Kalidindi, will serve as a 360-degree platform for IP owners, assisting them in navigating the complexities of technology and understanding…

AI based startup Alhonomy plans to acquire Linear Squared Algonomy, a software company specialising in artificial intelligence and algorithmic decisioning, intends to acquire Linear Squared, a Sri Lankan cloud-based technology company specialised in demand planning and forecasting products. Linear Squared develops software-as-a-service solutions for consumer packaged goods, retail, financial services, telecommunications, and other industries using AI and machine learning. For Algonomy, which has Walmart Canada, Comcst, Flipkart and Pizza Hut among its clients, Linear Squared’s demand-forecast platform “sits right in the middle” of its technology products, the Bengaluru-based company’s founder,…

udChalo, a consumer technology company that only serves India’s armed forces and their dependents, has acquired Pune-based data analytics firm Dimentrix in order to accelerate its growth through AI/ML-driven data insights. “Dimentrix will bolster our agility, adaptability backed with data science to make informed decisions. This acquisition will strengthen our goal of using data and insights to provide better and more relevant products and services to our customers,” udChalo CEO Ravi Kumar said. “This will catapult our capabilities across the board and reinforce cyber resilience in the organisation.” DeepInsight, a…

Delhivery, an IPO-ready logistics firm, has invested in Falcon Autotech, a Noida-based manufacturer of warehousing automation products. According to sources close to the deal, the investment will likely range between $20 million and $30 million. However, Delhivery declined to comment on the transaction’s specifics. Falcon Autotech provides intralogistics automation solutions, sortation systems, and other logistics and warehousing services. Delhivery said the deal is in line with its strategy to invest in “future-ready” hardware solutions in its operations. The Gurugram-headquartered company had earlier acquired Spoton Logistics to strengthen its business-to-business (B2B)…