Funding News
BlackSoil invests over ₹230 Cr across 11 companies
BlackSoil, an alternative credit platform, has disbursed ₹233 crore ($29 million) across 11 portfolio companies in Q2FY25, with investments spanning financial institutions, healthcare, logistics, and consumer businesses. The investments include seven new portfolio companies and 4 recurring clients.
The Company’s Assets Under Management (AUM) grew by ~25% year-on-year, driven by steady investment activity. Additionally, BlackSoil exited 11 investments during the quarter, demonstrating ongoing progress in its portfolio management.
“This quarter’s diverse investments across diverse sectors reaffirm our commitment to empowering high-potential, high-growth startups. We are excited about our continued momentum and the impending merger of Caspian Impact Investments into BlackSoil, which will further strengthen our position in the market,” said Ankur Bansal, Managing Director of BlackSoil.
Other News
Bizom acquires Rhythm 2.0 Sales Route Optimiser
Bizom, a platform for route to market solutions, has acquired Rhythm 2.0 Sales Route Optimiser, also known as Beat Planner. Developed by Algorhythm, a Pune-based company, Rhythm 2.0 Sales Route Optimiser is an offering for travelling sales professionals.
With the advent of quick commerce in urban centres, this digitisation is aimed at supporting traditional retailers, including mom-and-pop stores.
“This acquisition is in-line with our ambition to further expand Bizom’s capabilities and consolidate with like-minded solutions in the RTM tech space,” said Lalit Bhise, CEO, Bizom.
ideaForge franchise model expands drone service for entrepreneurs
Drone technology company ideaForge Technology has launched India’s first app-based Drone as a Service (DaaS) model – FLYGHT Franchise. This model empowers large enterprises and organisations to harness UAV technology on-demand while benefiting from ideaForge’s expertise and operational support.
The FLYGHT Franchise model offers a range of benefits including exclusive area service rights, comprehensive operational assistance and marketing support, and a scalable business framework with multiple revenue streams
FLYGHT Franchise offers businesses an opportunity to integrate drone solutions and gives access to technological resources. The model offers a range of benefits, including exclusive area service rights, comprehensive operational assistance and marketing support, and a scalable business framework with multiple revenue streams with clients across the government, public safety, and private sectors.
“The FLYGHT Franchise model is designed to empower both individuals and organisations, allowing them to leverage cutting-edge drone technology with AI capabilities while benefiting from ideaForge’s comprehensive support,” said Ezhilan Nanmaran, Head of Product and Strategic Partnerships, ideaForge.
(This article will be updated with the latest news throughout the day.)
