Weekly Funding Roundup – India (Mar 25 – Apr 01)

Weekly Funding Roundup – India

Wiz Freight raises Rs 275 crore in funding led by Tiger Global

 (Image source inc42)

Chennai-based digital supply chain startup Wiz Freight has raised Rs 275 crore in a funding round led by Tiger Global with participation from Axilor, Foundamental, Arali Ventures, Stride Ventures and Alteria Capital, the company said in a statement on Thursday. 

Wiz Freight said it plans to accelerate its technology research and development and global expansion into Southeast Asia, the Middle East and Africa with the new investment. 

Financial services firm Finova Capital bags $65 million in funding By Norwest Venture Partners And Maj Invest

(Image source economictimes)

Non-banking financial company Finova Capital has raised $65 million from Norwest Venture Partners, Maj Invest and Faering Capital, a senior company official said. The micro, small and medium enterprises or MSME-focused lender will use the funds to grow its loan book, invest in technology, expand geographically and further its vision of enabling financial inclusion at scale.

Also read: Weekly Funding Roundup – India (Mar 5 – Mar 11)

B2B food supply startup FarMart raises $32 million in fresh funding led by General Catalyst

(Image source omidyarnetwork)

FarMart, India’s first SaaS-led food supply platform, secures a $32M Series B round led by General Catalyst, with participation from existing investors, Matrix Partners India and Omidyar Network India. Elluminate Capital acted as the exclusive financial advisor to FarMart on the transaction. This new infusion of funds will fuel the growth of FarMart’s digital distribution network across India and export markets. The company also plans to make key investments in R&D, automation and technology.

IIT Madras-Research backed Micro-Mobility EV Solutions Startup Pi Beam Electric Raises $1.7 Mn in Funding led by Inflection Point Ventures

 (Image source entrepreneur)

India’s first vertically integrated EV ecosystem platform startup Pi Beam Electric has raised $1.7mn in a Pre-Series A round led by Inflection Point Ventures. 

The round was led by Inflection Point Ventures, with participation from prominent family offices including Sattva Group & Nanavati family, syndicates including Sincere Syndication and Conscience Multi-family Office. Several noted angels also pooled in to complete the round.

The fresh funds raised will be utilized for developing the deployment platform, expanding the team, scaling operations to multiple cities and developing new products.

Qure.ai raises $40 Million from healthcare investors Novo Holdings and HealthQuad

(Image source  INC42)

Healthtech firm qure.ai, which says it uses artificial intelligence (AI) for medical imaging diagnostics, has announced that it has secured $40 million in a funding round led by Novo Holdings and HealthQuad.

The funding will accelerate the AI-driven healthcare company’s market expansion into the global market and support new product development.

Upskilling firm Seekho raises $3 million in funding led by Sequoia Capital India Surge

(Image source Seekho)

Seekho.ai, an AI-enabled upskilling and career development platform has raised $3 million in pre-series A funding round, the company has announced. The round wintessed participation from investors such as the Family Office of the JM Financial Group, LetsVenture, Trica, Super Morpheus, Yuj Ventures, Sequoia Capital India’s Surge as well as angel investors such as Varsha Rao and Amit Ranjan. 

Edtech Startup Classplus Raises $62 Mn From Alpha Wave, Tiger Global

(Image source Classplus)

Delhi NCR-based edtech startup Classplus is raising INR 474 Cr (nearly $62 Mn) in a fresh round of funding led by existing investors Alpha Wave Ventures and Tiger Global.

Both Alpha Wave Ventures and Tiger Global will be pumping in INR 158 Cr (around $20.6 Mn).

Abu Dhabi’s Chimera Investment and existing investor TRP Global Partners are also participating in the round where Classplus is allotting a total of 11,251 Series E CCPS. The round size can further increase as more new investors chip in.

Dental tech startup Toothsi raises Rs 100 Cr led by IIFL

 (Image source INC42)

Dental tech startup Toothsi has raised Rs 100 crore or a little over $13 million in a fresh tranche led by IIFL. This is the second financing for the Mumbai-based company which recently picked up $9 million debt from Stride Ventures.