[Funding roundup] Early-stage deals raised by Finbots.AI, TEAL, TravClan, others
Here are the companies that announced early-stage funding rounds during the day.
![[Funding roundup] Early-stage deals raised by Finbots.AI, TEAL, TravClan, others](https://images.yourstory.com/cs/2/4d03ae105be411ebb93d1523d01d233d/Cover-Geniemode-13-1641282720421.png?mode=fit&crop=faces&ar=16%3A9&format=auto&w=1920&q=75)
AI fintech startup Finbots.AI raises $3 million from Accel in Series A
Accel's Fund VII invested in Finbots.AI's round. The funds will be used to better the product, for marketing and sales, the addition of customer support members, and hiring senior talent across the startup's teams.
Founded in 2017 by Sanjay Uppal and Shripad Neni, helps financial institutions make better credit decisions using AI via its plug-and-play model that can be deployed on existing infrastructure.
The startup has offices in Singapore and a regional head office in Dubai.
Proptech startup TEAL raises $2 million from Omidyar Network, Info Edge
The Bengaluru-based startup said it will use the funds to grow its data engineering capabilities, increase geographical coverage, and provide better analytics-based insights to its customers.
TEAL's analytics tools organise and provide real-time data on individual real estate properties to banks, mortgage companies and transacting parties. It has data on 50 million properties, currently, across 52 cities.
"We are building India's first digital title verification system, akin to a CIBIL for properties. Just as CIBIL dramatically transformed the process of personal lending in India, simplifying a series of otherwise manual, messy procedures to do due diligence on an individual before giving a loan, we are aiming to do the same for property," said Kshitij Batra, co-founder and CEO of .
B2B travel platform TravClan raises $4.7 million in extended pre-series A
The startup had raised $2.2 million last year from TheVentures and Leo Capital.
Its latest round saw participation from Hashed Emergent Fund and global angel investors, including Nick Talwar (CEO at ), Aayush Phumbra (Ex co-founder of ), Travis Katz (Ex co-founder of Trip.com), Pritesh Gupta (Ex co-founder of ), and Vikram Chopra and Mehul Agrawal (Co-founders of ), among others.
The startup said it will use the funds to launch operations in the US and South East over the next 12 months, and double down on its product and development. It added it expects to grow to a $500 GMV run rate by the end of FY23, and the latest capital infusion will help it do so.
Founded in 2018 by Arun Bagaria, Chirag Agrawal, and Ashish Thapliyal, helps travel entrepreneurs grow their travel businesses by setting up their online websites quickly.
Medical education marketplace eMedEvents raises $150,000 from We Founder Circle
said on Thursday it has raised $150,000 in funding from early-stage investor We Founder Circle, which will be used to expand the platform, scale up the SaaS model for healthcare professionals, and penetrate more deeply into the market.
eMedEvents helps healthcare professionals stay up to date with medical developments in their field of practice, and offer lifelong learning and developmental opportunities. The startup has served 15 million healthcare professionals in the last six years after it was founded.
"At eMedEvents, we are on a mission to connect continuing education (CME/CE) providers and physicians, clinicians, dentists, nurses and other healthcare professionals to get the right CME/CE," said Priya Korrapati CEO & Founder of eMedEvents.
Drone manufacturer ideaForge raises $20 million led by Florintree
The round also saw participation from its existing investors such as Celesta Capital, a prominent deep tech investment fund, Infosys, Qualcomm, Infina, along with the Exim Bank of India.
Founded in 2007 by IIT Bombay alumni, is backed by more than 15 years of research and development (R&D) with over 20 global patents. It dominates the Indian market with its drones being deployed by the defence sector, homeland security, and enterprise customers.
The startup claims to be having repeat contracts from the Indian Army for its SWITCH UAVs and its other customers include the Indian Navy, Air Force, State Police Forces, BSF, NSG, CRPF, Adani, L&T, Indian Oil, Survey of India, Indian Railways, and so on.
Rural vehicle marketplace Tractor Junction raises $5.7 million in seed funding from Info Edge Ventures, Omnivore
Existing investors AgFunder GROW Impact Fund and Rockstart AgriFood Fund also participated in the round, along with angels including Vikram Chopra and Mehul Agrawal — the Co-founders of , Vellayan Subbiah and Arun Venkatachalam from the Murugappa Group Company.
As per the official release, the startup plans to use the fresh capital to ramp up hiring, develop financial services, and launch physical stores for used tractor transactions across northern India.
Launched in 2019 by Animesh Agarwal, Rajat, and Shivani Gupta, is a digital marketplace to buy, sell, finance, and insure new and used tractors as well as farm equipment and rural commercial vehicles.
Geniemode raises $28 million in Series B from Tiger Global, Info Edge Ventures
Existing investor, Info Edge Ventures, also doubled down in the round. The new round has come within just four months of the company closing its $7 million Series A fundraise led by Info Edge.
With this capital, the company is planning to penetrate deeper into key international markets. It also plans to strengthen its supplier base across India and Southeast Asia (SEA).
Founded in May 2021, Geniemode works with buyers and manufacturers of furniture, home textiles, apparel and accessories to streamline and take control of the end-to-end supply chain, from design to delivery.
It has created a tech platform for buyers with end-to-end transparency of cost, based on MOQs (minimum order quantity), quality assurance, design library, and complete order management including compliance, tracking, inspection, communication, information storage library, and logistics.
Within less than a year of inception, is now working with 150+ manufacturers from India and SEA.
The company is on track to hit over $200 million in annualised GMV (Gross Merchandise Value) run-rate by the end of FY23.
Ayu Health raises $27 million in series B round led by Fundamentum Partnership
The round in the healthcare startup that has a network of over 70 hospitals across India, also saw participation from US-based fund 57 Stars, Rohit MA-led Capier Investments, angel investors like Ashish Gupta, Khadim Batti, Vara Kumar, and existing investors Stellaris Venture Partners, Vertex Ventures, and Alteria Capital.
With this fundraise, Prateek Jain of Fundamentum Partnership would be joining the Ayu Health Board.
Founded in 2019 by Himesh Joshi, Arjit Gupta, and Karan Gupta, who sold their previous firm Zefo to Quikr, acquires speciality hospitals and rebrands them to create a network of hospitals.
Funds raised from the fresh round of investments will be used to expand Ayu Health's hospital network and develop innovative technological solutions for patient experience, insurance processing, efficient procurement, and clinical quality management at network hospitals. The startup expects to post 10X growth by the end of 2022.
James Murdoch, Uday Shankar lead $1.78 billion investment in Mukesh Ambani's Reliance Viacom18
Mukesh Ambani's Reliance Viacom18 has announced a $2 billion investment from Bodhi Tree Systems and Reliance Projects & Property Management Services. Bodhi Tree is making up the bulk of that investment, with a $1.78 billion infusion.
Bodhi Tree Systems is a platform between James Murdoch's Lupa Systems and Uday Shankar.
The investment will be used to help strengthen Viacom18's streaming services in India. Currently, the company operates the OTT platform VOOT, and the suite of Colors TV channels.
Edited by Saheli Sen Gupta