Funding News

Weekly Funding Roundup: Advisorymandi, 75F, Atomberg Technologies & Others Raised Funds

This week no big players or high profile startups raised funds but this doesn’t take away the fact that it proved to be yet another decent week on the fundraising front. Here are the top 10 funding activities of this week as we rap up our weekly funding round up section.

Startup-entrepreneur

Image by Gerd Altmann from Pixabay

Advisorymandi:

Stock market advisory platform , advisorymandi,  raised $36 million from financial conglomerate EST Group. EST Group solely led the round as no other investors participated in the funding round.  The company plans to use the funds to further strengthen its ecosystem by bringing more stock brokers, insurance brokers and asset management companies on its platform. By doing so, the companying is aiming to convert its ecosystem into a multilingual platform.

Incorporated in 2015, advisorymandi aims to simplify the stock market investment process, which is otherwise highly complicated and requires investment expertise.

75F:

The U.S and India based IOT and energy efficient startup, 75F, raised $18 Mn in a series A round that was co-led by Breakthrough Energy Venture and Oil & Gas Climate Initiative. Building Ventures, Revolution’s Rise of the Rest Seed Fund and Clean Energy Trust also participated in the round.  The company plans to use the funds to invest in R&D and consolidate partner network across all the key markets.            

Founded in 2012, 75F leverages the power of IOT to offer energy efficient solutions to commercial buildings.

Atomberg Technologies:  

Mumbai based deeptech energy startup, Atomberg Technologies, which manufactures wide-range of fans, raised $10 Mn in series A funding round.  A91 Partners spearheaded the funding round while Whiteboard capital fund and Survam Patner also participated in the round. Mumbai based startup plans to use the latest capital infusion for ramping up distribution network across metro and non-metros markets. It also plans to invest in the R&D team in order to strengthen the IP and develop unique products for the ever evolving Indian consumers.

FPL Tech:

First Principles Lab would consider itself lucky considering that it raised good amount of $4 Mn in its very first round of funding. Matrix Patners and Sequoia Capital pumped the capital in the funding round. The startup has launched OneScore App to help cater to the credit needs of the people who don’t get credit despite possessing good credit score.                      

Digital Refresh Networking:

Digital Marketing is widely considered as one of the sunrise businesses and this was again vindicated this week when Digital Refresh Networking raised $6 Mn from Mumbai based TIW Private Equity. With this capital infusion, TIW Private Equity acquired majority stake in the Mumbai headquartered digital marketing firm. The company plans to use the funds for strengthening its expertise in content creation.

3rdFlix:

Hyderabad based Edtech startup, 3rdFlix Visual Effects Pvt LTD, secured $5 Mn funding from Exfinity Venture Partners in pre-series A round.  Other investors such as YourNest Venture Capital, IDFC Parampara Fund and clutch of HNIs also participated in the round.

Vyapar Tech:

Vyapar Tech, which offers business accounting software to small businesses, raised $ 5 Mn (nearly Rs 36 crore) from Indiamart. Existing investors Axilor Venture and India quotient also joined in to contribute to the funding round. Incorporated in 2016, Vyapar Tech claims that its mobile app saves small business owners from the inconvenience borne by manual entries and complicated calculations.                                                           

Cashflo:

Mumbai based Fintech startup CashFlo raised $3.3 million in series A round. SAIF Partners and clutch of angel investors including Ashish Iyer and Arpan Sheth spearheaded the funding round. The Mumbai based startup claims to be India’s first integrated, multi-funder marketplace that creates profitable situation for both buyers as well as sellers.     

OTO:

Mumbai based OTO raised INR 10 Cr from Prime Venture Partners. No other investors participated in the funding round. With eye on expansion, the company plans to utilize the latest capital infusion to expand in 10 cities in the coming months. Founded by two IIT Bombay batchmates Sumit Chhazed and Harsh Saruparia, OTO claims to be India’s first auto leasing platform.

ProPhysio:

Healthcare startup ProPhysio raised undisclosed amount of funding from NestaVera Group. The startup currently offers physiotherapy services only in the Bengaluru city. Following the latest capital infusion, the startup plans to explore AI driven solutions and expand to other cities to cater to the larger demography.

Myelin Foundry:  

Bengaluru based deep technology startup, Myelin Foundry, secured nearly $1 Mn (Rs 7.2 crore) in its seed funding round. Endiya Partners solely spearheaded the round. The company said in its officially released statement that it will use the funds to scale up its product’s commercial viability, ramp up its R&D capabilities and hire sales & marketing staff.

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