MedisimVR, a med-tech startup based in Cambridge and Chennai that specialises in healthcare simulation, announced today that it has raised Rs 3.5 crore (US$458K) in a pre-Series A funding round headed by Inflection Point Ventures, a Gurugram-based angel investment group. Chennai Angels and Jana Balasubramaniam also took part in the round (MedTech investor). The funds will be used to expand the company’s product offering and add more skill training content to its library, according to the announcement. MediSimVR was founded in 2017 with the goal of making comprehensive medical training…
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SparkCognition acquires Bangalore-based AI startup Integration Wizards
SparkCognition, a provider of artificial intelligence (AI) software solutions, announced on Friday that it has reached a definitive deal to buy Integration Wizards, a visual AI player, for an unknown sum. It intends to expand its IP portfolio to incorporate computer vision capabilities as part of this acquisition in order to add value to its industry solutions. The technique, according to SparkCognition, makes use of new and diverse data sets such as CCTV feeds, drone footage, video from portable devices, and current camera infrastructures. Safety, security, visual inspection, productivity, and…
Read MoreFood robotics firm Mukunda Foods raises $5 million funding from Zomato
Mukunda Foods, a food robots business, has raised $5 million in a funding round led by Zomato, bringing its post-money valuation to $30 million. Ncubate Capital, Singapore Angel Network, and Indian Angel Network have all previously invested in the brand. In total, it has raised roughly $8 million, including the most recent round. The funds will be used to expand the company’s reach into quick-service restaurants, cloud kitchens, and fine-dining establishments. Mukunda Foods is a food robotics firm founded in 2012 by Eshwar K Vikas and Sudeep Sabat. It develops…
Read MoreA dotcom era pioneer in India readies second startup Netcore Cloud for an IPO
Rajesh Jain, 54, a pioneer of India’s internet business, is preparing his second startup, Netcore Cloud Pvt., for an initial public offering within the next year. “We’ve had initial conversations with half-a-dozen bankers and the formal process will start in the next couple of months,” Jain said over a Zoom call discussing the acquisition and the IPO. “We are targeting an IPO within the next nine to 12 months.” Netcore, based in Mumbai, is a software-as-a-service (SaaS) company that specialises in providing organisations with client communication and engagement solutions. It…
Read MoreFounders of autonomous vehicle startup Ati Motors step down over ‘difference
Vinay V and Saad Nasser, two of the three co-founders of Ati Motors, a startup that built the country’s first autonomous cargo vehicle, have resigned. They have both resigned from their posts as Chief Scientific Officer and Chief Technology Officer. Nasser, a child prodigy, is the winner of the Intel IRIS award. He co-founded Ati when he was 14. Vinay cited “differences with management about the advancement of technology in the organisation” as the reason for his departure. Vinay is an adjunct faculty member at the Chennai Mathematical Institute and is a…
Read MoreDeep-tech startup Praan bags funding from Climate Angels, Aera VC, and others
Praan, a deep-tech startup, has raised an unknown sum in a new round of funding from global investors Aera VC, Climate Angels, and Sequoia Scouts. The round was also attended by Cool Climate Collective, film director Roshan Abbas, and angel investor Akshat Rajan. Vijay Shekhar Sharma (Paytm), Nipun Sahni (Apollo Global Management), and Paula Mariwala are among the Climate Angels (Seedfund Advisors). Global angel investors from Tesla, Breakthrough Energy Ventures, and other companies are part of the Cool Climate Collective. Praan’s India team will be expanded, manufacturing will be accelerated,…
Read MoreGAISA: Born out of the desire to acknowledge the AI realm
All India Council for robotics and automation hosts the 3rd edition of the global artificial intelligence summit and awards, an event first of its kind dedicated exclusively to discussing and highlighting the impact of AI in prominent sectors. India will witness the gathering of the global AI ecosystem on the 14th and 15th of September 2022 at Vigyan Bhawan, New Delhi. The global artificial intelligence summit and awards were born out of the desire to address and acknowledge the realm of AI and its significance among different sectors such…
Read MoreOfBusiness lending platform Oxyzo turns Unicorn after raising $200M in a Series A round
Oxyzo Financial Services, a Gurugram-based technology-enabled smart finance solution provider, announced today that it has raised $200 million in a Series A fundraising round at a $1 billion valuation, making it the country’s latest unicorn business. Alpha Wave led the fresh financing round, which was also joined by Tiger Global, Norwest Venture Partners, Matrix Partners, and Creation Investments. It’s worth noting that this is Oxyzo’s first external capital round, as the company began as OfBusiness Group’s financing platform before being spun off into its own company. Oxyzo was founded in…
Read MoreDeFi protocol firm Struct Finance raises $3.9M in a Seed round
Struct Finance, a Decentralized Finance (DeFi) protocol company, has raised $3.9 million in a Seed investment round to develop tools that would enable the ecosystem to design, compose, and invest in decentralised structured products. Antler, Arcanum Capital, Assymetries Technologies, Avalaunch, AVentures Dao, Bison Fund, Bixin Ventures, Blizzard Fund, Double Peak, FBG Capital, Finality Capital Partners, Infinity Ventures Crypto, Keychain Capital, Lancer Capital, Lucidblue, MC Ventures, QCP Capital, SCC Investments, Spark Digital, Wintermute, Woodstock, Zokyo, and 0xVentures led the new round With this round of funding, Struct Finance says it will…
Read MoreSaaS startup Zocket raises $3M led by Kalaari Capital
Zocket, a Bangalore-based marketing software-as-a-service (SaaS) business, announced today that it has raised $3 million in a funding round led by Kalaari Capital, with Kettleborough VC and angel investor Jasminder Singh Gulati also participating (Founder of NowFloats). Zocket, which was founded in 2021 by Karthik Venkateswaran, Nandha Kumar Ravi, Sundar Natesan, and Mukund Srivathsan, claims to enable businesses launch digital ads in under 30 seconds. Their 150-variable unique tech stack generates the optimal ad copy, graphic design, and platform for any SMB. According to the company, the algorithm creates a…
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