[Funding roundup] NeuralGarage, Collatree, Fixigo raise early-stage funds

Here are the companies that announced early-stage funding rounds on 17 November, 2022.

[Funding roundup] NeuralGarage, Collatree, Fixigo raise early-stage funds

Thursday November 17, 2022,

3 min Read

Deeptech startup NeuralGarage raises $1.45 million in seed funding

Bengaluru-based deeptech startup NeuralGarage has raised $1.45 million in seed funding led by Exfinity Venture Partners with participation from angel investors including Anand Singh (Elios and Nexus Global Fund), Sarath Sura (Sunn91 Ventures), Sachin Jain, Narendra Soni (ex-KPMG) and Kejal Shah (ex-Avendus PE).

The company uses artificial intelligence and computer vision algorithms to improve content consumption, delivery and creation.

Founded by Subhashish Saha, Anjan Banerjee, Subhabrata Debnath and Mandar Natekar, NeuralGarage's will use the fresh funding to invest in hiring talent, and across R&D, engineering and product verticals.

Bio-fuel marketplace Buyofuel raises Rs 11.5 crore

Buyofuel, an online marketplace for biofuel and wastes, has raised over Rs 11.5 crore (~$1.4 million) in a pre-Series A round led by Inflection Point Ventureswith participation from Venture Catalysts, LetsVenture, Lead Angels Fund, and Gruhas Proptech.

The funds will be used towards expanding services across geographies as well as for developing product offerings and technology.

The startup says it has the largest supply base of biofuels and fuel consumers.

Auto startup Fixigo raises seed funding from Agility Ventures

Auto-tech startup Fixigo has raised an undisclosed amount of seed funding in a round led by Agility Venture Partners with participation from industry veteran and director of iGlobe Telecom, Tarun Kalra and Alienics Inc, a Canadian investment firm.

Other unknown angel investors are also said to have invested in the round. The startup plans to use the funds in expanding its services in newer markets like Hyderabad, Pune and Mumbai, it said in a press statement.

Fixigo provides after-sales car repair and maintenance services. It looks to strengthen its foothold automobile repair and services market with the help of technology. The app offers a gamut of services such as on-demand car wash, periodic services, breakdowns, mechanical repairs and accidental claims.

Conversational ecommerce platform Gallabox raises $1.2 million

Gallabox, a conversational commerce platform for small and medium-sized businesses has raised $1.2 million in seed funding led by Prime Venture Partners. Several angel investors also participated in the round.

The no-code platform uses WhatsApp Business API to help SMBs improve sales conversations without a mobile app. It serves over 500 customers including PVR, Shiprocket and Mantri.

Aye Finance raises Rs 87 Cr from Swiss Based Impact Investor BlueOrchard

Aye Finance, the Capital G backed fintech lender, has raised Rs 87 crore as debt funding from BlueOrchard managed funds. Aye will utilise this latest round of funds to extend affordable and customised credit solutions to the base of the pyramid businesses of India and power their growth into the new age India.

For the current year, Aye has a target of raising Rs 1,500 crore in debt out of which over Rs 700 crore has already been raised. Along with providing economical credit to power the growth of their businesses, Aye also provides beyond financing support to this sector through its not-for-profit arm FAME (Foundation for Advancement of Micro Enterprises). Started in 2019, FAME has supported over 40,000 micro-entrepreneurs of dairy, shoes manufacturing, sports goods manufacturing, and kirana clusters.

(The copy will be updated throughout the day with the latest news)

Edited by Affirunisa Kankudti