[Funding roundup] Serosoft, Himshakti, SoME, others raise capital
Here are the companies that announced early-stage funding rounds during the day.
Serosoft bags Rs 30 Cr funding from SIDBI ventures
A B2B enterprise SaaS product company, Serosoft Solutions Pvt Ltd () has raised Rs 30 crore from SIDBI Venture Capital Limited (SVCL).
Serosoft’s flagship product, Academia ERP, is an ERP/Student Information System (SIS) to manage all educational and administrative activities. It helps educational institutions across the spectrum viz: universities, colleges, and schools to track the entire student lifecycle, assess students and analyses results and their progress, and bring all stakeholders across the education eco-system on one unified, platform.
The Indore-based startup was founded by Arpit Badjatya. Siddharth Badjatiya subsequently joined the team as the COO. The new version of the product Academia was developed in 2015 for the global markets.
Artha Venture Fund ties up with IIM Kashipur to lead pre-seed round in Himshakti
IIM Kashipur announced that it has entered an MoU to partner with the Artha Access programme. The association announced its first deal with the Dehradun-based FMCG brand Himshakti, which has raised Rs 17 lakh in its pre-seed round.
The round also saw participation from angel investors Anand Kumar of Pier Counsel and Varun Agrawal of StarClinch. Himshakti plans to use the funds towards marketing, sales, and improving the packaging quality of its products.
Artha Access is an Artha Venture Fund (‘AVF’) programme through which AVF co-invests with accelerators like India Accelerator, Huddle, and IIM Calcutta Innovation Park.
Founded in November 2019 by Harshit Sehdev, Himshakti’s purpose is to provide the best quality, healthy, nutritious, and pure food products from the Himalayan region of India.
Bengaluru-based education startup, SoME closes 3rd round in angel funding
The School of Meaningful Experiences (SoME), a Bengaluru-based tech-enabled communication startup announced today that it has closed its third round of angel funding. It helps people develop soft/human skills through its communication programmes—across the age group including young adults, working professionals and entrepreneurs.
The round was led by existing investor Uday Singh, former Executive Chairman and Managing Director of SIS India, and Mohan Alexander, an angel investor and finance veteran. With this, the venture has strategically raised half-a-million dollars through angel funding.
The company plans to use the latest funds to strengthen its outreach programmes, expand the team as well as introduce innovative communication programmes for working professionals, managers, CXOs, and entrepreneurs.
Northern Arc Capital raises $50M through NCDs from FMO
announced that it has concluded a $50 million bond issuance. The issuance was subscribed by FMO, the Dutch entrepreneurial development bank, with a mission to enable entrepreneurs to increase inclusive and sustainable prosperity.
Northern Arc will use half the proceeds to serve MSMEs and women entrepreneurs, especially among the next billion. The long-term nature of the facility will help Northern Arc provide customised credit solutions to these customers both directly and through partners.
The use of proceeds will address three critical UN Sustainable Development Goals: SDG 8 (Decent Work and Economic Growth), SDG 5 (Gender Equality), and SDG 10 (Reduced Inequality).
(This article will be updated with the latest news throughout the day.)
Edited by Kanishk Singh