FutureTech

With the Indian startup ecosystem rapidly expanding, a division of Wall Street investment bank Goldman Sachs announced on April 12 that it is bullish on the space and will be looking to invest up to USD 10 million in domestic financial technology companies. Goldman Sachs Principal Strategic Investments (GSPSI), which invests from the bank’s balance sheet, has two “legacy investments” in India, including the NSE and NCDEX, according to its head Alokik Advani. While GSPSI continues to manage these investments, the arm is excited about new opportunities and is looking…

Honasa Consumer, the parent company of direct-to-consumer (D2C) brand Mamaearth, announced the acquisition of Momspresso and its associated influencer engagement platform Momspresso MyMoney for an undisclosed sum. This follows a wave of consolidation in the broader D2C segment, spearheaded by The Good Glamm group, which has acquired a slew of smaller brands in the last year. We previously reported that the Good Glamm Group, which owns the MyGlamm brand, had acquired celebrity and influencer talent management network MissMalini Entertainment in a cash and stock deal. This was the group’s fifth…

Veefin, a supply chain fintech startup, has raised $3 million in a Series A round from Rajesh Rajendran, a Dubai-based investor. The fund will be used to expand the company’s product and engineering team. Veefin, founded in 2010 by Gautam Udani and Raja Debnath, provides financiers with the shortest supply chain finance implementation timelines. Veefin claims to have signed more than half of its existing enterprise clients this year alone. According to the website of the Mumbai-based firm, it has catered to over 350 customers, developed 200 mobile apps, and…

Temp Holdings Co, a provider of comprehensive human resource services, announced today the launch of a corporate venture capital (CVC) fund for the Indian HR market. The Temp Innovation Fund, named after its parent company, will invest in and acquire disruptive HR startups in the recruitment and staffing industry. The fund will be launched in India by Temp Holdings, according to a statement issued here. Noting that the global staffing industry is worth USD 400 billion, with the US domestic market alone contributing USD 180 billion, Kamal Karanth, India representative…

Gobillion, a social commerce platform, raised $2.9 million in a seed round led by YC, Justin Mateen, and Pioneer Fund.Soma Capital, Goodwater Capital, Olive Tree Capital, Chris Golda Investments, Oliver Jung, Venture Souq, Shanti Mohan, and Vikas Choudhury were among the other investors in the round. The funds will be used to accelerate the company’s business expansion plans, launch new product categories, and strengthen its operations, product development, and technology teams. Gobillion, which was launched in 2020 by Roshan Farhan and Kulapradip Bharali, allows customers to buy in social groups…