Ninjacart, a fresh produce supply chain startup, has announced the acquisition of Tecxprt, a SaaS-based communication platform. As part of the deal, the entire Tecxprt team will join Ninjacart. The size of the transaction was not disclosed by the company. Ninjacart, which is backed by Walmart, claims that the acquisition will help it and Flipkart digitise their operations and facilitate real-time communication throughout the food supply chain. Thirukumaran Nagarajan, cofounder and CEO of Ninjacart, said, “We are thrilled to have the Tecxprt team on board With this acquisition, we will…
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Tiger Global, A91 Partners participate in EatClub’s $30 mn secondary funding round
EatClub Brands – formerly Box8 – is nearing the completion of a $30 million secondary funding round, in which existing backer Tiger Global is expected to increase its stake, according to sources familiar with the matter. A91 Partners, a Mumbai-based investment firm, will also participate in the secondary stock purchase, which will see existing backer IIFL sell a portion of its stake in the company, according to the people. Box8 was first backed by IIFL Seed Venture Funds, the venture capital and private equity arm of IIFL Wealth & Asset…
Read MoreEsports gaming platform Gamerji raises $1.1M in a pre-Series A round
Gamerji, an esports gaming platform based in Ahmedabad, said today that it has secured $1.1 million (about Rs 8.5 crore) in a pre-Series A round headed by Unicorn India Ventures, with participation from Stadia Ventures, the Urmin Group family office, and current investors. GamerJi’s online esports platform, which was founded in 2019 by serial entrepreneur Soham Thacker, allows players to participate in tournaments of their favourite games, host matches, chat, exchange content, and earn rewards. Gamerji plans to use the funds generated to improve tournament management technology, add social features…
Read MoreJiffy.ai raises $53 million in funding led by Eight Road Ventures
Eight Roads Ventures led a $53 million fundraising round for Jiffy.ai, a business-to-business (B2B) automation platform. The funds will be used to expand the company’s sales and marketing operations, as well as advance its HyperApp platform. Iron Pillar, R-Squared, and current investors Nexus Venture Partners, Reaction Capital, and Rebright Partners all participated in the round, according to the company. Jiffy.ai raised $18 million from investors led by Nexus Venture Partners in June 2020. Paanini Foundation, a non-profit organisation, is the company’s largest stock shareholder. “This funding will help build autonomous…
Read MoreEruditus raises $350 million debt from CPPIB
Eruditus, an online education company, has received $350 million in debt from Canada Pension Plan Investment Board, a worldwide asset management firm, mostly to fund mergers and acquisitions. According to persons familiar with the situation, Eruditus, which partners with prestigious universities like as Columbia, INSEAD, and others to provide executive education and MBAs, aims to make purchases worth a billion dollars in the next year or two. According to reports, the company has gross bookings of $500 million for FY22, which is up 2.5 times year over year. CPP Investment…
Read MoreTiger Global backs lending platform Money View in $75 million Series D funding
Money View, a Bengaluru-based lending fintech, has secured $75 million in a Series D round, bringing its valuation to $625 million, as fintech businesses continue to draw investor interest in the face of rising digitisation of financial services. The round included Tiger Global, Winter Capital, Evolvence India, Accel, and other investors such as South Park Commons, Trusted Insight, and Dream Incubator, according to the company. Founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, IIT Delhi alumni, the company provides personalised credit products such as instant personal loans, cards, BNPL,…
Read MoreOneBanc partners with Peoplestrong for automation of payroll banking
OneBanc, a neo-banking start-up powered by artificial intelligence, has teamed up with PeopleStrong, an HR Technology SaaS platform for businesses, to automate payroll banking at a time when attrition is on the rise. The automated process, which is powered by OneBanc’s proprietary AI-powered backend engine, can increase the in-hand salary of India’s 119 million white-collar professionals by up to 7% and corporate bottom lines by up to 10%. Payroll banking is a $6 trillion industry for white-collar professionals that is expected to grow to $8 trillion by 2025. The industry…
Read MoreEarly stage platform for investors LetsVenture launches new initiative for women entrepreneurs
LetsVenture, an early stage platform for investors and founders has established a new program called Women Founders Network (WFN) for women entrepreneurs in India to help build and run disruptive startups. The announcement follows the firm’s launch of the Women Investor Network (WIN) in 2021, which saw over 100 women from various backgrounds participate in the last year, including entrepreneurship, finance, marketing, engineering, finance, and more. “LetsVenture plans to onboard about 1000 women founders and investors on the platform in the next one year’s time through this initiative,” the release said. “Last…
Read MoreEdtech startup Infinity Learn acquires Don’t Memorise
Infinity Learn, the edtech startup of the Sri Chaitanya group, has purchased Don’t Memorise, a concept-based multilingual content platform, for an unknown sum. Don’t Memorise, which was founded in 2014, focuses on the K-10 market, specifically grades 6 to 10, and develops math and scientific material in English, Hindi, Marathi, and Bengali. Mumbai-based Don’t Memorise claims to have 2.6 million YouTube subscribers and over 250 million views. “While the organic growth continues to be strong for Infinity Learn, inorganic routes including acquisitions, is another pillar for growth and expansion. This…
Read MoreWomen entrepreneurs leading India’s billion dollar startups
Four of the 44 Indian startups that became unicorns last year were run by women. Although the number appears modest at first glance, it is significantly greater than the two companies that made the list in 2020. To make matters even better, in the first two months of 2022, four female-led businesses have already joined the unicorn club. Mamaearth by Ghazal Alagh, Hasura by Rajoshi Ghosh, LEAD School by Smita Seorah, and Pristyn Care by Dr Garima Sawhney are among the names on the list. In startup jargon, a unicorn…
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