Niyo raised $30 million from Multiples Alternate Asset Management
Consumer-focused fintech platform Niyo has raised $30 million from private equity firm Multiples Alternate Asset Management. Niyo has raised approximately $180 million, including the $100 million he raised in an Accel-led Series C funding round in February. Founded in 2015 by Vinay Bagri and Virender Bisht, it offers digital savings accounts and other banking services in partnership with banks. It will use the funds to expand its product capabilities and increase its customer base.
Eka Care has raised $15 million from Hummingbird Ventures
Healthtech startup Eka Care has raised $15 million in a funding round led by Hummingbird Ventures. 3one4Capital, Mirae Asset, Verlinvest and Aditya Birla Ventures also participated in the round. Founded in 2020 by Sahni and Deepak Tuli, Eka Care works to build health profiles for people to achieve better health outcomes and savings on healthcare expenditures. The company claims to have over three crores of medical records and over 5,000 doctors using its products. It will use the new capital for product development, hiring, and digitizing healthcare.
Fitterfly raised $12 million from Amazon Smbhav Venture Fund
Digital therapeutic startup Fitterfly has closed a $12 million funding round from Amazon Smbhav Venture Fund and Fireside Ventures. Founded in 2016 by Singal and Shailesh Gupta, Fitterfly focuses on diabetes management and claims to have helped over 20,000 patients. It will use the funds to expand the reach of Diabefly’s digital therapy and clinically proven program to prevent, manage and reverse diabetes.
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Edtech Creative Galileo raises $7.5 million
Kid-focused edtech platform Creative Galileo has raised $7.5 million from a group of investors including Kalaari Capital, Affirma Capital and East Ventures. The round valued the company at $40 million, a tripling of its previous valuation of $12.5 million last July. Launched in 2020, the company claims to have over seven million app downloads. It will use the funds to expand its operations, accelerate recruitment across teams and geographies, introduce regional languages and further strengthen its research and development.
Drink Prime snagged $7.5 million from Omidyar
DrinkPrime, a subscription-based reverse osmosis (RO) water supply startup, has raised $7.5 million in a mix of equity and debt financing led by Omidyar Network India, Sequoia Surge and 9Unicorns. Founded by Vijender Reddy and Manas Ranjan Hota, DrinkPrime aims to enable access to drinking water with personalized water purifiers compatible with the Internet of Things (IoT) via a subscription. It plans to invest in the people, products and infrastructure to deliver its services to around one million homes by 2026.
Lal10, a wholesale market for artisans, raised $5.5 million
Lal10, a cross-border wholesale marketplace for Indian artisans to sell their wares, raised $5.5m in its pre-Series A funding and funding round led by Yuj Ventures (Xander Group) and Beyond Capital Ventures . Lal10 is technology for artisanal MSMEs and has over 2,200 such businesses using its app to digitize their inventory for global wholesale. The company plans to use the capital to expand in the United States, Japan and the Middle East.
Other concluded deals
■ Liberate Foods, a plant-based protein company, raised $2 million in a funding round led by Better Bite Ventures, Blue Horizon and venture debt fund Panthera Peak. The company has 25,000 monthly active users and aims to increase that number by 20-30% over the next few quarters.
■ xQ, an edtech startup that teaches young people how to make videos, has raised $1.4 million (Rs 11.18 crore) from a small group of high net worth individuals (HNIs), including senior Google executives , Deloitte and Tata 1mg, among others. The startup has so far trained 6,000 students in eight countries.
■ Business-to-business (B2B) software service provider ElevateHQ raised $1.1 million in a funding round led by Leo Capital. The round also saw participation from Veda VC, PointOne Capital and 100X Entrepreneurs. Founded in 2021 by Apoorv Singh and Kartik Arora, ElevateHQ helps companies motivate their sales teams and improve their performance with its sales commission automation platform.