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3D reconstruction platform Preimage raises $1.7M in a seed round led by pi Ventures

Cloud-based 3D reconstruction application Preimage has announced that it has raised $1.7 million in a seed round from pi Ventures, Better Capital, Java Capital, and other prominent angels.

Preimage’s AI-first solution generates photorealistic 3D digital clones of environments and assets using photos as input. The company will use the fresh funds to double down on building the product, scale its team across business functions, and build a robust go-to-market motion in the drone-based mapping and surveying use case. 

Earlier this year, Preimage released a beta version of their product that engaged more than 200 business customers ranging from small businesses to large enterprises across the US, India, the Asia-Pacific, and Europe. Its open-to-all 3D reconstruction platform will be released later this year.

Preimage had raised a pre-seed round of $355,000 last year led by Better Capital, which also saw participation from Arka Ventures and iSeed Ventures.

Kidbea raises Rs 1.5 Cr from Agility Ventures in pre-seed round

Kidbea, a sustainable kidswear brand based in Noida, has secured a pre-seed funding round of Rs 1.5 crore. The brand is being funded by Agility Ventures, along with some individual co-investors, including Nandi Mehta, CFO of Kaaf Funds; Tapas Sahu, Chairman of the CII in Jharkhand; Divij Bajaj, Founder of Power Gummies; Abhishek Kocchar, Founder of Diamond Overseas; and Vivekananda Nareddula, Founder of Apaizer.

The founders intend to use the funds to boost marketing efforts, expand the team, and improve R&D activities within the Indian kidswear market.

Founded in 2021 by Swapnil Srivastav, Mohammed Hussain, and Aman Kumar Mahto, Kidbea makes certified organic spill-proof, anti-bacterial, and breathable kidswear. The aim is to provide non-toxic sustainable products to the children and relaxed parenting to every toddler’s parent.

Kidbea has already raised two rounds of funds, including the angel round that took place in March this year.

UK-based Reall invests in housing fintech startup Syntellect

Syntellect, a Mumbai-based global affordable housing fintech startup, has received strategic investment in Pre-Series A round from UK-based Reall, an impact organisation in affordable housing. 

The funds will be used to further build and promote Syntellect’s flagship product RightProfile for affordable housing solutions in India, Africa, and South America.

RightProfile is a customer profiling and loan underwriting tool that provides creditworthiness insights to the underserved, unbanked low-income informal customer segment.

It leverages AI, ML, statistics, specialised programming, and advanced analytics to uncover actionable insights and provide decision intelligence to lenders based on multiple parameters and customized to the top 20 trades globally. Since its inception in 2017, RightProfileTM has generated customer profiles for over 14,000 clients. 

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Indel Money raises Rs 50 Cr via its first tranche of market-linked debentures 

Indel Money Limited, the flagship company of Indel Corporation and gold loan non-banking finance company, has raised Rs 50 crore via first tranche of its principal-protected market-linked debentures (MLDs). Issued on August 30, 2022 through Yubi (formerly CredAvenue), a fintech debt marketplace, the MLDs offer a fixed coupon rate and come with the tenors of 16 and 18 months. 

The first tranche of MLDs witnessed rapid subscription from HNI offices/investment houses from cities like Mumbai, Delhi, Chennai, Jaipur, Ahmedabad, etc. Indel Money plans to raise another Rs 250 crore by issuing the second tranche of the MLDs in Q3FY23. 

The fund raised from the MLDs will be utilised to expand Indel Money’s book size along with its footprint. 

Umesh Mohanan, Executive Director and CEO, Indel Money Ltd said, 

“The launch of MLDs is a part of our mission to expand our presence across India and further build our operational efficiency. We look forward to stronger investor traction for the second tranche scheduled in Q3FY23.”

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