Tiger Global and Info Edge Ventures invest $28 million in Geniemode
Geniemode, a B2B cross-border technology platform for lifestyle products, pocketed $28 million in a Series B funding round led by Tiger Global. Existing investor Info Edge Ventures also doubled down in the round. The new round came just 4 months after the company closed its $7 million Info Edge-led Series A round.
The company said it is on track to reach over $200 million in annualized GMV by the end of FY23. With this capital, the startup plans to deepen its penetration on key international markets like USA, UK and EU and to strengthen its supplier base in India and SEA.
“The United States will be one of our key territories in the coming year and we will completely streamline our onshore operations to address supply chain issues faced by all types of retailers and suppliers. The funding will also help further strengthen our technology platform. with new features and new details,” said Amit Sharma, co-founder and CEO of Geniemode.
Ayu Health Raises $27M in Series B Led by Fundamentum Partnership
Ayu Health Hospitals, a healthcare startup, has received $27 million in a Series B funding round led by The Fundamentum Partnership, an early growth stage fund founded by Nandan Nilekani and Sanjeev Aggarwal .
The round also saw participation from US fund 57 Stars and Capier Investments. Existing investors Stellaris Venture Partners, Vertex Ventures and Alteria Capital, as well as angel investors like Ashish Gupta, Khadim Batti and Vara Kumar, also participated.
With this fundraising, Prateek Jain of Fundamentum Partnership will join the Ayu Health Board, the company said in a statement. The new capital will be used to expand Ayu Health’s hospital network and develop innovative technology solutions for patient experience, insurance processing, efficient supply and clinical quality management at network hospitals.
With the addition of over 4,000 beds in multiple locations across India, the company aims to become the largest hospital chain in the country by the end of 2022. “Over the past 2 years, we We’ve had phenomenal success in Chandigarh and Bengaluru, two markets at different ends of the spectrum.
With the support of new and existing investors, we are now well positioned to expand this model to more geographies and aim for a network of over 200 hospitals and over 10,000 beds by December 22, ensuring care high quality healthcare for all,” Himesh said. Joshi, co-founder and CEO of Ayu Health.
Drone maker ideaForge raises $20M in Series B
Drone maker ideaForge has raised $20 million in its Series B funding round led by Florintree, which is led by former Blackstone India co-head of private equity Mathew Cyriac.
The round also saw participation from its existing investors such as Celesta, which is a leading deep tech investment fund, Infosys, Qualcomm and Infina, as well as Exim Bank of India.
“ideaForge has grown 10x over the past two years and we will use this funding to invest in R&D, international expansion and building a world-class team,” said Ankit Mehta, co-founder and CEO from ideaForge.
ideaForge boasts of being the first Indian OEM to win repeat contracts from the Indian Army for its SWITCH UAVs. Its customers include Indian Navy, Air Force, State Police Force, BSF, NSG, CRPF, Adani, L&T, Indian Oil, Survey of India and Indian Railways among others.
Tractor Junction secures $5.7M from Info Edge Ventures and Omnivore
The Tractor Junction rural vehicle market has pocketed $5.7 million in a seed funding round co-led by Info Edge Ventures and Omnivore. Existing investors AgFunder GROW Impact Fund and Rockstart AgriFood Fund also participated in the round, alongside angels such as Vikram Chopra and Mehul Agrawal – the co-founders of Cars24, Vellayan Subbiah and Arun Venkatachalam of Murugappa Group, and Sanjiv Rangrass.
The startup plans to use the funding for talent acquisition, financial services development and the launch of physical stores for used tractor deals in northern India, it said in a statement. communicated. Over the past two years, Tractor Junction claims to have increased its annual revenue sevenfold and remained operationally profitable.
Finbots.AI lands $3M Series A round led by Accel
Fintech startup Finbots AI has raised $3 million in a Series A round from Accel. Accel’s investment comes from its Fund VII and is the first outside investment for the AI-led company.
The funds will be used to accelerate product enhancements, marketing and sales, and customer support, in addition to recruiting senior talent and expanding its team in its offices, the company said in a statement.
India leads all of Finbots.AI’s global development and support, as well as being a key market for the company which is headquartered in Singapore and has a regional headquarters in Dubai. added the company.
Real estate tech startup TEAL raises $2m from Omidyar Network India
Real estate technology startup Terra Economics & Analytics Lab (TEAL) has closed its Rs 14.8 crore ($2 million) pre-Series A led by Omidyar Network India, with participation from existing investor, Info Edge.
Through this fundraising, the Bengaluru-based company will strive to expand its data engineering capabilities, increase its geographic coverage and provide its clients with more actionable and analytics-driven insights, said he declared.
“We are building India’s first digital title verification system, similar to a CIBIL for property. Just as CIBIL has radically transformed the personal loan process in India – simplifying a series of otherwise manual and messy procedures to demonstrate due diligence on an individual before making a loan – we aim to do the same for property,” said Kshitij Batra, co-founder and CEO of TEAL.