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13SQFT raises $1M in pre-Series A round led by Inflection Point Ventures

13SQFT, a B2B platform for warehousing, logistics and industrial sectors, has raised $1 million in a pre-Series A round led by Inflection Point Ventures. The funds will be utilised to expand the commercial and technical teams, bolster the platform’s technology, and elevate its brand presence.

13SQFT focuses on the unorganised and fragmented base of building materials, equipment and fittings for warehousing, aggregating demand for specialised warehousing needs. It is also building tech-driven designs for optimal space planning and estimation of costs to set up warehouses.

“We’re excited to partner with the government, supporting national growth by creating the right facilities. Our goal is to help small businesses, startups, and Make-in-India companies succeed on our platform,” said Alok Bansal, Founder, 13SQFT.

“13SQFT is an innovative B2B platform that will streamline operations and provide end-to-end solutions for the logistics industry,” said Ankur Mittal, Co-founder, Inflection Point Ventures.

GradRight raises Rs 50 Cr in Series A investment from IvyCap Ventures

Ed-fintech startup GradRight has raised Rs 50 crore in Series A funding from IvyCap Ventures. The infusion of funds will enable GradRight to build on college selection and financing solutions for students through its AI-powered ecosystem of universities and banks.

GradRight aims to make international higher education accessible and affordable for lower- and middle-income students across the world. It brings together prospective students, universities, and lenders on a single platform by leveraging technology, data science, and community.

Over the past two years, GradRight’s platform has processed loan requests of over $1.75 billion (Rs 14,300 crore) and assisted more than 55,000+ students.

“As a tech-first company with a platform-based approach to solving these problems, we are committed to ensuring that every student has the resources they need to obtain the education they deserve,” said Co-founder and CEO Aman Singh and Co-founder and COO Sasidhar Sista.

“GradRight has the potential to transform the global higher education admissions and financing market. Their technology-driven solution is well-positioned for profitable scaling; it is adaptable across markets

and can emerge as a leader in the sector,” said Vikram Gupta, Founder and Managing Partner of IvyCap Ventures.

Tej Kapoor, Managing Partner of IvyCap Ventures will be joining the board of GradRight on behalf of IvyCap Ventures.

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JIIF leads pre-Series A funding round in Ecowrap

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Pooja Mehta, COO, JIIF

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JITO Incubation and Innovation Foundation (JIIF), a community-based angel network, has invested an undisclosed amount in a pre-Series A round in Ecowrap.

Ecowrap is a tech-based waste management solution entirely based on waste segregation at the source for HORECA (Hotel, Restaurant, Cafe) industry. The company’s business model aims to make waste management services viable and scalable by offering a comprehensive end-to-end solution on a single platform. This solution includes waste segregation at the source, supply chain management, and the production of upcycled products.

“This capital infusion will be instrumental in realising our expansion goals and allowing us to establish a presence in various cities,” said Angraj Swami, Co-founder, Ecowrap.

“Ecowrap’s innovative approach to waste management, centered around waste segregation at the source, has the potential to create a significant positive impact on our environment,” said Pooja Mehta COO, JITO Incubation and Innovation Foundation.

Other News

Uber appoints Arnab Kumar as Director of Business Development for India and South Asia

Ridesharing app Uber has appointed Arnab Kumar as Director of Business Development for India and South Asia.

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Arnab Kumar, Director of Business Development, Uber India and South Asia

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Arnab joins Uber with more than 17 years of experience across the technology and financial services sectors. His professional journey includes building the India operations for Coinbase and leading India fintech investments and strategic initiatives for Prosus (formerly known as Naspers). Arnab has previously served as Programme Director at NITI Aayog where he contributed to the development of emerging technology initiatives including Aarogya Setu, India’s COVID-19 contact tracing app. He has also worked as an investment banker for Deutsche Bank in Singapore and New York and is an alumnus of Birla Institute of Technology Mesra and Indian School of Business Hyderabad.

Arnab’s appointment comes as the company completes a decade of operations in India and is focused on growing sustainable mobility options.

“I am excited to join Uber, which has transformed the way people move while creating earning opportunities for millions of people in India and across the region,” said Arnab Kumar.

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