Startup news and updates: daily roundup (June 23, 2021)
US Pharma giant Pfizer is in the final stages of an agreement with India to supply anti-COVID-19 vaccines, CEO Dr Albert Bourla said, observing that the domestically manufactured vaccines would be the backbone of vaccinating the Indian people. Addressing the 15th edition of the India-US Bio Pharma & Healthcare Summit being organised by the US-India Chamber of Commerce, Dr Bourla said that Pfizer has made a specific plan that the mid and low-income countries, which includes India, will receive at least two billion of such doses.
Mumbai-based nutraceuticals startup Wellbeing Nutrition has raised a $2.2 million in Series A funding in a Series A round led by Fireside Ventures. It also saw participation from ACG, one of the leading providers of integrated solutions for pharmaceutical and nutraceutical industries.
[Funding alert] AI-based networking platform CoffeeMug.ai raises $625K in pre-seed round from Paradigm Shift Capital, AngelList India
Singapore-based AI-based 1:1 professional networking platform CoffeeMug.ai on Wednesday announced that it has raised $ 625,000 in a pre-seed round led by Paradigm Shift Capital and AngelList India. The round also saw participation from marquee angel investors, including Archana Priyadarshni (General Partner, Point One Capital), IIM Indore Alumni Angel fund, Yagnesh Sanghrajka (Co-Founder and CFO, 100X.VC), and Aloke Bajpai (Co-Founder and CEO, ixigo.com).
Bengaluru-based MeTripping Technologies Pvt Ltd, which operates under the name Pathfndr.io, has raised a pre-Series A funding of an undisclosed amount. The round was led by Arali Ventures, with participation from SEA Fund, Wayfare Ventures, KPB Family Trust (family office of KP Balaraj, Co-founder of WestBridge Capital and Sequoia Capital India), Acsys Investments, and Capital A (Family office of Manjushree Ventures).
US-based small business banking platform Novo has recently secured $40.7 million (Rs. 302 crores) in Series A round led by Valar Ventures along with Crosslink Capital, Rainfall Ventures, Red Sea Ventures and BoxGroup.
Hyderabad-based HR staffing, payroll, and recruitment firm BigLeap on Wednesday announced that it has raised Rs 5 crore in debt funding from champion roller skating athlete and Arjuna award winner Anup Kumar Yama and others.
The first phase of the national single-window system, which will allow investors to identify and apply for various pre-operations approvals required for commencing a business in India, is likely to be launched soon, Commerce and Industry Minister Piyush Goyal said on Tuesday.
[Funding alert] Homegrown IoT startup Kazam raises Rs 7 Cr in seed round led by Inflection Point Ventures
Bengaluru-based IoT based charging station, Kazam, has raised Rs 7 crore in a seed round led by Inflection Point Ventures, one of India’s largest angel investment platforms in India. Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam was built with the mission to make electric mobility accessible to all.