The Madhya Pradesh Government has rolled out a new venture fund Madhya Pradesh Venture Finance Limited (MPVFL). The venture fund has been established under the Madhya Pradesh MSME Fund Trust, with an aim to create an SME Innovation Fund. The SME Innovation Fund is the first fund raised under this…
Start Up India
Social networking platform VoxWeb raises $1 m from undisclosed investors
Mumbai-based VoxWeb, a mobile-first, social networking platform has raised $1 m from undisclosed individual investors. The start-up will use the funding to strengthen back-end technologies and to add new front-end features. It will also invest in scaling marketing efforts to increase its use…
MaxWholesale raises $1 m from Indian Angel Network & Maple Capital Advisors
MaxWholesale, a mobile-based B2B grocery supply chain, has raised $1 million in Pre-Series A round of funding led by Indian Angel Network (IAN) and Maple Capital Advisors. IAN investors include Ambarish Raghuvanshi, Raman Roy, Sunil Munjal, amongst others. Bikky Khosla of Tradeindia, Pankaj Karna…
O2O fashion e-Commerce platform Fynd raises $2.4 m from IIFL, others
Mumbai-based O2O fashion e-Commerce platform Fynd has raised $2.4 Mn in a funding round led by IIFL Seed Ventures. The round was an extension of the Series A round and also saw participation from Kae Capital, FJ Labs, Singularity Ventures, GrowX, Tracxn Labs, and Hong Kong-based Axis Capital…
Healthtech start-up grow fit raises $4.5 m funding from manipal group, others
Bengaluru-based healthtech startup Grow Fit has raised $4.5 Mn in Series A funding. The investment was led by Manipal Education and Medical Group (MEMG), the PE arm of Manipal Group. Existing investors, SAR Group and The Grover Trust also participated in this round. With this investment, Dr. Ranj…
Start-up Banyan Nation to help Telangana clean up waste
The Telangana government, which has been talking about partnering startups to roll out solutions for citizens, on June 20 announced that it will be joining hands with Hyderabad-based startup Banyan Nation to usher in efficiency in the area of waste management in the state. “Telangana has be…
How start-up CoinTribe is helping SMEs get loans quickly
Having spent most of their professional life in the banking and financial sector, Amit Sachdev, Rohit Lohia and Manish Chaudhari finally decided to start their own financial services company. The three had had a particularly close look at SME lending. “As consultants, we were exposed to the banki…
Cabinet may give nod to Rs 2k cr Credit Guarantee Fund in July
The proposed credit guarantee fund that will help startups get collateral-free loans is likely to get the cabinet nod in July. The fund, with a total corpus of Rs 2,000 crore, was announced in January 2016 by Prime Minister Narendra Modi to enable greater financial support for startups. “We…
Darwinbox raises $4 m in series A from Lightspeed Ventures & existing investors
Darwinbox, a human resources software-as-a-service (SaaS) startup, has raised $4 million (about Rs 25 crore) in a series-A round of funding led by Lightspeed India Partners. The company plans to leverage the new infusion of capital for product innovation and market expansion. Founded by Roh…
NITI Aayog looks to set up 1k tinkering labs
NITI Aayog CEO Amitabh Kant has stated that this year, the Atal Innovation Mission (AIM) scheme will look to select 1,000 schools. They will receive a grant of about $31K (INR 20 Lakh) each. The money will be utilised to set up tinkering labs to foster innovation, as per a recent report. The repo…