Business Updater Funding updates

Funding News- 14 August’20

Venture Capital firms raised funding even in COVID-19 situation including SAIF partners

When investors are refraining themselves from making any investment due to the COVID-19 pandemic, some well known Venture Capital firms have seen steady transactions even when the whole system of economy is crawling down.  These Venture Capital firms include WaterBridge Ventures, Chiratae Ventures, SAIF Partners and Orios Venture Partners that received seed-stage deals in the past two months.

Deepak Gaur, Managing Director of SAIF Partners said that the business was least effected during the lockdown period. Since the first week of March, they have signed six investment deals- Seed and Series A funding.

Oreo ventures also claimed that it has seen a steady deal flow amid COVID-19 in Series A investment.

A data report reveals that there had been 36 Series A funding investments in the month of April-June and 56 investment transactions in January-February which sums up to $270 Million.

Artificial Intelligence-based DaveAl gained funding from Mumbai Angels Network

Mumbai Angel Network led the funding round for DaveAl along with GHV Accelerator, IIIT Technology Venture Partners and Mohan Kumar, CEO of Crestere Technologies.

DaveAl is a Banglore-based startup which is operated by Sociograph Solutions Pvt Ltd that uses Artificial Intelligence in providing helping hand to manage enterprises to deal with their sale processes and augment customers’ product discovery experience. This investment will help the company to expand and sustain the firm’s growth.

Hunger Box received funding from Paytm

Hunger Box is a food-tech startup which operates business-to-business food-technology has received fresh funding in a round led by Paytm, parent One97 Communications Ltd,  Sabre Partners Trust, Pratithi Investment Trust, and Singapore-based Srihari Kumar.

The total investment raised up by Hunger box sums up to 11.67 Crores. Hunger Box is a Banglore-based startup launched in 2016 which provides technology-backed end-to-end food and beverage (F&B) operations management. Currently, the startup serves around 120 business and Institution spread across 18 cities.

The funding raised by the startup will be used to expand their reach to at least 10 more cities as well as it also plans to expand its business in Southeast Asia.

Education Platform Eduvanz Financing Pvt. Ltd raised funding of $5 Million

Eduvanz Financing received funding of $5 Million (37 Crores) in a Series A funding round led by venture capital firm Sequoia Capital along with Existing backer and early-stage impact investor Unitus Ventures.

Eduvanz is a Mumbai-based ed-tech platform launched in September 2016. It provides loans to students who want to pursue any degree or skill development course. It has tie-ups with more than 30 institutions.

The new funding raised by Eduvanz will be primarily used for geographical expansion and creation of new credit products to mark its presence in the market.