MobiKwik invests in data science company, IndiQube raises Rs 100 Cr from WestBridge Capital
In a bid to strengthen its fintech portfolio, digital payments platform MobiKwik announced it has made a strategic investment of Rs 2 crore in Pune-based data science company Pivotchain Solutions. A predictive analytics company with expertise in Machine Learning and Artificial Intelligence, Pivotchain has built exclusive AI and deep learning models for MobiKwik. MobiKwik said these models will be instrumental for it as it rolls out numerous lending products to address the credit requirements of its user base.
Smart workspace solutions provider IndiQube announced it has raised Rs 100 crore of equity in a round led by WestBridge Capital. The round also saw participation by Ashish Gupta, co-founder of Helion Ventures, who serves on the advisory board of the company. The funds from this round will be used to strengthen the company’s execution capabilities and the company’s aggressive expansion plans across Bengaluru, Pune, Hyderabad, Chennai, Mumbai, and NCR.
The Indian startup ecosystem has seen a slowdown in funding in the past few months, after getting off to a brisk start earlier in the year. While the first 40 days of the year saw investments totaling a staggering $1.8 billion, the funding has dropped pace since then. The first six months of 2018, to this date, has seen $5.1 billion in startup funding, but that’s a disappointment considering the promise it held at the beginning of the year.
San Francisco-based HealthPals was founded to automate, personalise, and visualise evidence-based care plans of every patient within a health system. HealthPals' clinical intelligence platform CLINT uses data and machine learning to automate and personalise treatment pathways at an individual and population-level for South Asians. The company was born through Co-founder Rajesh’s clinical and research work in 2015.
From government-led policies to ease of doing business, and building an ecosystem that promotes mentorship and development, Hyderabad has been walking the startup talk for a while now. Hyderabad is now shining the spotlight on deep tech, which is taking the world by storm due to its enabling power, the potential to catalyse change, and the differentiation it can lead to.