iRasus, Codebuddy raise early-stage funds
YourStory presents daily funding roundups from the Indian startup ecosystem and beyond. Here's the roundup for Thursday, December 22, 2022.
Northern Arc fund raises Rs 65 Cr from Belgian Investment Company
Northern Arc Investments Managers (NAIM), the fund management vertical and a wholly-owned subsidiary of debt financiers, Northern Arc Capital, has raised Rs 65 crore from the Belgian Investment Company for Developing Countries (BIO).
The investment, a part of the company’s AIF (Alternative Investment Fund)—Northern Arc Impact India Fund (NAIIF), will be targeted towards impact enterprises (IE), it said in a statement.
The fund has a total corpus of Rs 700 crore raised from investors Blue Earth Capital, Anthos Fund and Asset Management, and Calvert Impact Capital.
The debt lender said it has deployed 100% of its commitments across 30 investments in impact-focused themes, including financial inclusion, agritech, and climatetech.
About 5.2 million loans were extended from the NAIIF to finance farm productivity through loans for the purchase of fertiliser/manure/seeds/tractor or equipment/livestock and poultry, it added.
The debt lender has raised close to over Rs 1 trillion in financing since 2008.
Deeptech startup iRasus raises funds
Battery intelligence and analytics platformraised an undisclosed seed funding round from Digital Futurists Angel Networks (DFAN), Elina Investments, and angel investors Bhuvan Gupta and Amit Khetan, among others.
The startup—which is building a platform to enable companies to organise and analyse battery data—aims to deploy the funds to expand its market reach and enhance battery analytics and visualisation platform.
Co-founded by BITS Pilani alumni Arjun Sinha Roy and Anirudh Ramesh, the digital infrastructure platform integrates and uses battery data to build applications for superior battery management. The startup has created an API-driven middleware platform that connects batteries to the cloud for data visualisation, analytics, third-party development, and integration.
The SaaS tool is offered to EV OEMs, battery pack manufacturers, fleet operators, telecom tower operators, charging infrastructure companies, battery swapping networks, and other stationary battery systems.
INT. makes strategic investment in SaaS startup Codebuddy
Digital engineering and transformation service provider INT. (Indus Net Technologies) has made a strategic investment in digital consultancy firm, which enables SMEs and startups to build their businesses online and scale.
Founded in 2019 by Abhishek Gupta and Sudipta Bhowmick, Codebuddy specialises in software and product development, talent-augmenting strategic partnerships, and remote development teams.
The startup claims to have a team of over 40 experts and has serviced over 100 customers in SaaS, insurance, edtech, and legaltech industries. A majority of the business comes from referrals and repeat business, it said.
According to Abhishek Rungta, Founder and CEO, INT., in the current environment, both startups and SMEs are manoeuvring through technology and talent gaps to serve their end customers profitably.
“Codebuddy has a proven track record of creating innovative, future-proof solutions for businesses. While INT. does not look beyond enterprise clients, Codebuddy extends our network and enables our vision to help organisations across diverse industries and geographies. I believe that our resources, know-how, and processes will help the Codebuddy team achieve their vision in time,” he said.
(The copy will be updated with the latest news throughout the day.)
Edited by Suman Singh