FutureTech

Proptech focussed investor Gruhas Proptech plans to roll out a $150 Mn fund in the first quarter of financial year 2022-2023 that will invest in incubators and startups. A PTI report quoting Gruhas Proptech promoter Abhijeet Pai said that the startup is currently in talks with global investors for the same. The proptech focussed investment firm exploring opportunities in the Middle-East and African countries, Pai told PTI. “Because of the immense success of the current portfolio, and razor sharp focus on disruptive prop focus, Gruhas has strategic interest from large…

India’s new-age edtech companies, which grew rapidly during the first wave of the pandemic in 2020, are continuing to grow inorganically this year by quickly acquiring companies, fueled by an increase in remote learning and online education as a result of the ongoing pandemic scare and partial lockdowns. Byju’s, an edtech unicorn, announced the acquisition of Aakash Educational Services Ltd. on April 5. The cash-and-stock transaction was completed for nearly $1 billion, making it one of the most expensive transactions in India’s burgeoning edtech space. Think and Learn Pvt. Ltd.,…

Dhurina, a fast growing E-learning platform, just completed its second round of fundraising, raising USD 1.2 million from RVCF and other investors like LetsVenture, RBD Publication, India Accelerator, Precision Startup Advisory, and Pai Ventures. The company promises that the newly invested cash would be utilised for technology advancements, aggressive business growth, corporate expansion, and improving the product’s functioning for pupils. Within two years of its introduction, the firm has 2.5 million downloads and is aiming for $10 million in revenue by FY-23 with a user base of 10 million or…

S Chand, a New Delhi-based education content company, has agreed to buy a minority stake in iNeuron Intelligence Private Limited, a Bengaluru-based edtech startup. Mukesh Sharma Family Trust, S Chand Directors, S Chand Key Top Management, and others have also invested in the round. Mr. Mukesh Sharma, a co-investor, is a serial entrepreneur and educator who founded several companies, including QA InfoTech (now a Qualitest company), one of the leading software testing and quality assurance firms, according to a company release. Sudhanshu Kumar and Krish Nai founded iNeuron Intelligence in…

Jupitice, the world’s first JuTech company, has raised $4 million in a Pre-Series A round led by Almas Capital Limited. Jupitice, founded by Raman Aggarwal, has designed and developed the next-generation justice technology platform based on AI/ML and blockchain. The fund was raised by the Chandigarh-based company in just a few months after its launch. The funds will be used for product development and global marketing. Almas Capital, also known as Almascaps, is based in the Cayman Islands and manages its fund management company, Almas Global Opportunity Fund. Almascaps is…

Ninety One, a sustainable mobility brand, has raised 225 crore (or roughly $30 million) in its latest Series A funding, the company announced on Wednesday. A91 Partners LLP invested approximately 160 crore in the round, with participating investors including Fireside Ventures, Avaana Capital, and Tital Capital investing an additional 65 crore. With this funding round, AlphaVector (India) Pvt. Ltd.’s Ninety One is now valued at 1,000 crore (or roughly $132 million). According to the company, the proceeds of the current funding round will be used to invest in manufacturing facilities…

According to a report released on Wednesday, India has surpassed the United Kingdom to take third place in the list of countries that are home to such enterprises valued at more than $1 billion each, after adding 33 ‘unicorns’ in a single year. Last year, India ranked fourth in terms of the number of unicorns. According to data compiled by the Hurun Research Institute, the United States and its northern neighbour China, which rank first and second, are far ahead. The United States added 254 unicorns, bringing the total to…

Chiratae Ventures (Formerly IDG Ventures) and Lenskart Vision Fund led a $4 million pre-Series A round for Adloid, an AR building platform. Prashant Pitti, co-founder of EaseMyTrip, as well as Seeders and 100x Entrepreneur, have also joined the latest round. Adloid is renaming to Metadome in this round, a metaverse that will give no-code infrastructure to creators and marketers for the virtual world. Metadome, founded by Shorya Mahajan, Prashant Sinha, and Kanav Singla, delivers augmented reality installations in the automotive, home-decor, cosmetics and accessories, and consumer electronics industries. To build…