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Funding news

Data Science Wizards raises $1.4M seed funding

AI innovation company Data Science Wizards (DSW) secured $1.4 million in seed funding from an undisclosed angel investor.

Building on a pre-seed round of $450,000, this latest seed funding has raised DSW’s valuation to $16.4 million. It will use the capital to develop and enhance its deep tech AI platform, UnifyAI, and strengthen its team.

DSW in a statement said it will also launch ‘insurAInce,’ which uses UnifyAI’s capabilities, offering pre-learned models and specialised tools to address the unique challenges of the insurance industry—enhancing risk management, operational efficiency, and innovation.

The new funding will enhance UnifyAI and the insurAInce solution for scalable enterprise AI adoption. DSW will soon launch domain-specific AI solutions for banking, telecom, retail, and manufacturing, driving industries from experimentation to full-scale production.

D2C footwear brand Yoho raises Rs 27 Cr in pre-Series B funding

D2C footwear brand Yoho raised Rs 27 crore in a pre-Series B funding round led by Gulf Islamic Investments (GII) for its domestic and global expansion.

The capital will also help drive the company’s growth and innovation, including investment in research and development to bring more products to market.

Additional investors supporting the round included Rajeev Misra (CEO, SoftBank Investment Advisers), Vijay Shekhar Sharma (CEO, Paytm), Rukam Capital, and Pankaj Chaddah (Founder, Shyft).

Traqo raises pre-seed round

Traqo.io, a no-code third-party logistics management platform for manufacturers, raised an undisclosed pre-seed funding round led by We Founder Circle.

The startup will use the funding to scale its AI and tech teams, enhancing the platform to meet the rising demand for efficient logistics solutions in the manufacturing and ecommerce sectors.

Founded by Mukesh Deogune, Traqo offers a SaaS platform that covers the entire freight lifecycle—from procurement and tracking to audit and settlement.

Other news

IVCA gears up for GreenReturns Summit 2024

The Indian Venture and Alternate Capital Association (IVCA), India’s apex industry body for the alternate capital ecosystem, will host the two-day GreenReturns Summit 2024, an initiative focusing on climate change, in New Delhi from December 2-3.

The summit will bring together institutional investors, including sovereign wealth and pension funds, alongside Indian leaders. Among its many highlights will be the Green Pop-up Village, showcasing India’s top companies and startups in the green economy.

In a statement, IVCA said that the discussions during the summit will focus on mobilising capital for renewable energy, emphasising on concessional finance, technology transfers, and innovative financing to tackle India’s climate challenges.

Aditya Birla Housing Finance partners with BharatPe

Aditya Birla Housing Finance (ABHFL), a fully owned subsidiary of Aditya Birla Capital, has partnered with fintech startup BharatPe, to facilitate access to home loans and loans against property for merchant partners.

This collaboration will enable ABHFL to offer home loans and loans against property to over 1.3 crore BharatPe merchants across 450+ cities, with a strong focus on Tier II and III markets.

Merchants can initiate loan applications directly through the BharatPe app.

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