[Funding roundup] EV startup Esmito, edtech co Student Ink raise early-stage deals

YourStory presents daily funding roundups from the Indian startup ecosystem and beyond. Here's the roundup for Wednesday, September 21, 2022.
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MapmyIndia buys ~26% stake in Kogo Tech Labs for $1.25M

Digital maps startup MapmyIndia says it has invested $1.25 million to acquire a 26.37% stake in Kogo, a startup building a large travel and hyper-local discovery platform.

MapmyIndia will also have the option to raise its stake to 50% in two years, as part of the deal.

The investment will be used by Kogo Tech to provide service to automotive OEMs in India. MapmyIndia will also use Kogo's platform to increase consumer engagement.

"KOGO will benefit through integration with MapmyIndia Mappls best-in-class maps, navigation, N-CASE & geospatial technologies and IoT to help us build something unique and working with them on go-to-market will help us scale rapidly," said Raj K Gopalakrishnan, Co-founder and CEO of KOGO.

Edtech startup Student Ink raises funding from We Founder Circle

Student Ink, an edtech platform, has raised an undisclosed seed round from investor We Founder Circle (WFC), via its accelerator programme, EvolveX.

The startup said it will use the funds to scale its platform faster.

Founded by Nihar Sheth, Jayraj Jadeja, and Kevin Ritter, Student Ink has 300+ schools, more than 6,000 educators, and over 1.6 lakh users. It offers over 600 courses on the platform.

EV startup Esmito raises Rs 10 crore

IIT-Madras incubated EV startup Esmito says it has raised Rs 10 crore in seed funding from Unicorn India Ventures.

Funds raised will be used to expand the technology team, the startup said.

Founded in 2018, Esmito offers swapping solutions and energy services to electric vehicle drivers.

(This article will be updated with the latest news throughout the day.)

Edited by Megha Reddy

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