Startup news and updates: Daily roundup (December 3, 2021)

Funding news

Marketing tech platform Almond Solutions raises undisclosed amount from HEXA Global.

Marketing technology and customer engagement solutions platform Almond Solutions has raised an undisclosed amount from Texas, US-headquartered investment firm, HEXA Global Ventures. Almond Solutions was incorporated as part of Gurugram-headquartered gaming, IoT and content distribution company, ATechnos.

Founded in 2018 by Abhinav Jain and Apurv Modi, Almond Solutions will utilise the capital to grow its Platform-as-a-Service by scaling up operations, investing in team expansion and product innovation, said a statement issued by the company.

“We wanted a partner who’d not just bring the growth expertise but also an ability to understand our ethos. With HEXA, we have begun our venture strategy for American and European Markets,” said Abhinav Jain, Co-Founder and CEO of Almond Solutions.

The company works with brands, corporates, media and not-for-profit organizations, offering them customer engagement technology across video, virtual and digital engagement modules.

Atypical Advantage raises seed round

Hiring platform for people with disabilities, Atypical Advantage, has raised Rs 1 crore from a group of angel investors. 

Some of the names which participated in the round include Mohan P Alexander, Co-founder of Amba; Rohan Bhansali, Co-founder of Gozoop; Sadashiv Nayak, CEO of Future Retail Limited; Lokesh Bharwani, Founder of Mad Over Donuts; Sashi Rajamani who works for causes for the disabled, and artist Revati Sharma Singh. 

Founded in 2020 by IIM Bangalore alumnus Vineet Saraiwala, Atypical Advantage is already clocking in revenues of $450,000 annually. 

Atypical Advantage offers a platform for people with disabilities to look for jobs and opportunities across 16 skill categories. The platform connects them to brands, corporates and retailers looking for specific talent.

Klub raises debt funding from Northern Arc Capital

Revenue-based financing platform Klub has raised an undisclosed amount in debt funding from Northern Arc Capital. This comes months after Klub raised $20 million from US-based Alter Global and Japan’s GMO Venture Partners.

The company will utilise the debt to scale its embedded financing platform targeted ecommerce merchants selling on online platforms in India. 

Founded in 2019 by Anurakt Jain and Ishita Verma, Klub provides growth capital ranging from Rs 2 lakh to Rs 30 crore to Small and Medium Enterprises (SMEs).

“Klub’s embedded financing solution helps merchants on our partner marketplaces get easy access to capital without leaving the marketplace ecosystem. We are excited to partner with Northern Arc to offer this compelling solution to our rapidly growing customer base,” said Sudharsan Venkatakrishnan, Vice President of Klub in the statement. 

General News

Battle of the EVs: A price comparison of electric two-wheelers in Indian market

Bengaluru-headquartered Bounce entered the electric vehicle (EV) fray with the launch of its Infinity e-scooter on Thursday, priced at Rs 68,999 with battery and charger. Earlier this year, the startup had acquired 22 Motors for technology to build out the line of electric scooters.

Bounce, which started out as an app-based shared mobility solutions company, enters a space that includes heavyweights such as Ola Electric, which is valued at nearly $3 billion and has raised $526 million to date.

Apna.co hires Sharechat executive to head product role

Professional networking and jobs unicorn Apna.co has appointed Mithun Madhusudan as the Head of Product -- Communities. Prior to this, Mithun served as the Director of Product Management at Indian language content and social media app, ShareChat. 

In his new role, Mithun will be responsible for enhancing the user experience on Apna’s platform, said a statement issued by the company. 

“Mithun brings with him an in-depth understanding of consumers and industry best practices. We will leverage his expertise in crafting a greater user experience as we build for the world. He will play a pivotal role in strengthening apna’s communities and help us drive our mission of #AcceleratingIndia,” said Karthik Manivannan, Chief Operating Officer of Communities at Apna in the statement. 

Founded in 2019, Apna has made multiple top-deck hires in 2021 to strengthen its leadership team. Backed by Tiger Global, Owl Ventures, Insight Partners, Sequoia Capital, and others, Apna helps skilled blue and grey collar workers look for jobs and gig-work opportunities apart from providing a platform to connect with their peers.