BlackSoil’s venture debt optimism
Mumbai-based venture debt fund BlackSoil Capital invested Rs 35 crore as growth capital in five startups.
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Mumbai-based venture debt fund BlackSoil Capital invested Rs 35 crore as growth capital in five startups. These include two-wheeler vehicle financing startup Orange, marketing automation platform , direct-to-consumer FMCG brand Habanero Foods, fintech startup , and another undisclosed generic pharma company.
This development comes a week after BlackSoil announced its investment in global consulting firm Kaar Technologies.
“Their unique business positioning and ability to survive through adversities like COVID is what made these companies an attractive proposition for BlackSoil. We are optimistic that our debt capital will help these companies take their businesses to the next level and we will continue to support them throughout their journey,” Ankur Bansal, Co-founder and Director, , said in a statement.
San Francisco-headquartered virtual events platform Hubilo also raised a Series B round of $125 million led by Alkeon Capital, with participation from Lightspeed Venture Partners and Balderton Capital.
It plans to use the funds to expand its market reach in India and overseas through new business functions, product enhancement, go-to-market teams in the US, the UK, EMEA, and APAC.
— a global NFT marketplace creator and B2B SaaS for launching white-label NFT marketplaces — raised under $1 million additional investment in its seed round from Nitish Mittersain (Nazara Games), Gaurav Munjal (), Sujeet Kumar (), Kunal Kapoor (Bollywood actor), Surojit Chatterjee (), and other global investors.
M2P FINTECH, earlier known as YAP, raised $35 million in a Series C round of funding led by Tiger Global, along with existing investors, including BEENEXT, Flourish Ventures, Omidyar Network India, 8i Ventures, Better Capital, and the DMI Group via its investment vehicle Sparkle Fund.
The Chennai-headquartered startup intends to use the funds to enhance its API infrastructure capabilities and expand its reach beyond Asia.
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News & Updates
- Oyo’s Founder and Chairman, Ritesh Agarwal pledged Rs 1 crore to support micro-entrepreneurs from small towns of India. He also named four startups from Ladakh and the Himalayan region that will receive a part of this equity-free grant.
- AI customer experience platform Jio Haptik Technologies has announced the launch of Interakt, an app that enables SMBs to manage their entire business on WhatsApp. This is the first product created by Haptik that focuses on the SMB and MSME economy in India.
- Drone solutions startup Aarav Unmanned Systems has won a contract to deploy drones across four states under the government’s SVAMITVA scheme. As part of the contract, the startup will deploy 80 drones across Uttar Pradesh, Madhya Pradesh, Maharashtra, and Rajasthan.
- An expert panel of Drugs Controller General of India has recommended granting emergency use authorisation to Bharat Biotech's Covaxin for children and adolescents in the two to 18 years age group with certain conditions.
- Bombay Stock Exchange (BSE) signed a Memorandum of Understanding (MoU) with the Business Leadership League (BLL) aimed at spreading awareness about the benefits of listing for Indian small and medium enterprises.
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