The Tech Panda takes a look at recent funding events in the ecosystem, seeking to know where the cash is flowing.
GlobalFair, a technology first global supplier of building materials in the cross-border space, has raised $20Mn in its Series A fundraise through a mix of equity and debt. This fundraise was led by Lightspeed with participation from Saama Capital, India Quotient, AUM Ventures and Stride Ventures. This will see them deepen their manufacturing base across India and Vietnam, launch capital finance solutions and build a sustainable end to end synchronized cross border supply chain accessible at one click to the global buyer.
Bejul Somaia, Partner, Lightspeed said, “The pandemic exposed structural issues in cross-border supply chains and heightened the need for transparency, visibility and diversification in procurement. GlobalFair is using technology to address these issues for the global construction and building materials industry and we are excited to back the team as they modernize the industry and create new trade corridors.”
GlobalFair, Anand Lunia, Partner India Quotient said, “With India and Vietnam set out to become the de-facto factories of the world, we love how GlobalFair is using technology to bridge the capacity gap and leverage economies of scale. Looking back on how the team has grown across the mid to large scale construction enterprises across the US coupled with expansion across the Vietnam supply markets, we are confident about the team’s capability as they look to scale further, and continue to partner with their mission”
Lythouse has secured an undisclosed amount in fund raise from Hyderabad sheadquartered SucSEED Indovation Fund and established Angel Gopinath Latpate as part of its pre-series round.
Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said, “Having worked in senior leadership roles in enterprise risk, business continuity & resilience function in large global enterprises for over two decades, I am aware of the significant gaps which exists in business environment and sufficient use-cases for an enabling platform. There are a number of natural and man-made events that pose a risk to continuity of large enterprises. Lythouse collects granular safety data from several sources, uses AI tools and converts them into meaningful insights for business continuity. Lythouse’s can cater to MSMEs as well as MNCs, which increases their user base and scalability. We have seen their product evolving with early business adoption already and with our vast network of risk professionals & business leaders, we can help them with early market access too.”
Gopinath Latpate, the lead investor says, “Since inception, Lythouse’s mission towards citizen and business safety has resonated very well with me; they have always delivered on this promise even during the peak of pandemic; this has further increased my belief in their purpose. As technology matured, Lythouse has been able to provide data driven intelligence to the businesses and their employees. Lythouse risk matic platform holds a promise to be widely adopted technology by the company leadership in maintaining the business continuity.”
Digital marketing solutions company Intellemo has raised over INR 3 crore in a seed round led by Inflection Point Ventures. The round also saw participation from Kunal Shah, Founder, Cred, Soonicorn LLP, Rahool Sureka & Saurabh Aggarwal, Co-Founders of Fitso and Amit Gupta, Co-Founder of Badri Ecofibers. The funds raised will be utilised primarily to expand the tech team, scaling video ads tech to provide instant landing pages, and integrate among the other ad platforms.
Mitesh Shah, Co-founder, Inflection Point Ventures says, “We are living in a hyper digital world where it is a necessity for every company irrespective of their size to be discovered online and promote their services and product to reach their customers. Intemello is solving this by taking the SaaS route as it becomes cost friendly for small and medium businesses. Companies who have smaller budgets allocated to marketing and ads can now utilise a SaaS service without feeling the extra pressure. As more SMEs go digital, we see this market growing and exploding. At IPV, we back businesses who are able to see ahead of the curve and can deliver on their vision.”
We Founder Circle (WFC), an early-stage startup investment platform led by a global community of successful founders and strategic angels, along with the WFC VP has announced leading the pre-seed round worth INR 54 lakhs raised by Humors Tech.
Humors Tech is founded by IIIT Alumni in 2021 to develop innovative products for Home Healthcare. The primary aim of the startup is to combine its expertise in Artificial Intelligence, Deep Tech, and IoT with clinical research to create innovative yet simple-to-use healthcare platforms.
Ankur Jaiswal, CEO & Co-Founder of Humors Tech said, “We want to thank WFC and all other investors for their faith in our prototype and idea. The investment has boosted the confidence of our team and it definitely will make a meaningful contribution to our company’s hypergrowth, allowing us to build our business more quickly. We thank WFC’s experienced angel investors to provide guidance in fundraising, from creating the pitch deck to presentation. Furthermore, we will look forward to their expertise in elevating our business model and target market segment to make it a success.”
One of India’s fastest growing agtech platforms, Falca has raised over $ 3 million in PreSeries A round led by Inflection Point Ventures, along with a combination of debt and equity funding. The round also saw a participation from LetsVenture, Mumbai Angels among other HNIs. The funds raised will be utilized in scaling the services beyond the current geographies, acquiring talent for growth, and focusing on building tech infrastructure for the platform.
Vinay Bansal, Founder & CEO, Inflection Point Ventures says, “FALCA with its extensive research has curated a plethora of services for farmers right from the grass root level to final dispersion of product to the end users. It aims to educate the farmers through its platform and make them well versed with the usage of technology for cultivation and the benefits the FALCA has to offer to make a better living and profitable farming business. Along with its virtual support, the company now has its offline presence ‘Falca Rural Service Points’ with 30 centres. IPV aims to further strengthen the support for the farming community with FALCA”.
The founders of the XDC Network have leveraged a portion of their personal token allocations to secure a $50 million commitment from global alternative investment group LDA Capital Limited to accelerate the expansion and development of Layer 2 projects across the XDC Ecosystem and to facilitate network adoption and real-world utility. LDA support will help fund new ventures and entities laser-focused on increasing network adoption among retail and institutional participants, jumpstarting on-chain activity and Total Value Locked (TVL), and supporting technological innovation.
“Our collaboration with LDA will usher in an exciting new period in the XDC Network’s history by enabling unprecedented growth of the Layer 2 ecosystem across various use-cases, with an emphasis on bringing ever more value TVL (“Total Value Locked”) to the network via hyper-scalable dApps, DEXs,TradeFi/DeFi and advanced products filling the gaps between traditional and decentralized finance.” Ritesh Kakkad, Co-founder XinFin (XDC) Network.
“Though there have been many institutional funds eager to participate in the XDC Network over the years, we’ve always looked for genuine strategic partners, not just funders, who can actively and strategically advance the ecosystem, while bringing utility to the network, and making XDC the preferred Layer 1 for institutions the world over–in LDA, we’ve found such a partner.” – Atul Khekade, Co-founder XinFin (XDC) Network.
“LDA Capital is pleased with the developments made in the XDC Network by the XDC ecosystem. In addition to its funding, LDA will offer strategic counsel and support to help XDC Blockchain Network assume its position as a market leader.” – commented Anthony Romano, LDA Capital Ltd.
Syntellect, a Mumbai-based global affordable housing fintech startup, receives strategic investment in Pre Series A Round from UK-based Reall – an impact organization in affordable housing. The funds will be used to further build and promote Syntellect’s flagship product RightProfile for affordable housing solutions in India, Africa and South America.
Commenting on its partnership with Reall, Syntellect’s Founder & CEO Sumedha Salunkhe Naik says, “With the investment received from Reall, we intend to grow our platform, take our capabilities to lenders and promoters across India, Africa and South America. We will bank the unbanked across the world and make affordable housing a reality while helping lenders expand their customer base without having to take unnecessary risks.”
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