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Funding

QuickReply.ai raises $1.14M in seed round led by Leo Capital

QuickReply.ai, a WhatsApp marketing and automation startup, has raised $1.14 million in a seed funding round.

The funding was led by Leo Capital, which invested $0.75 million, with additional participation from Pentathlon Ventures, GSF, and several entrepreneurs and angel investors, including Deepak Diwakar, Azhar Iqubal, and Dinesh Agarwal.

QuickReply.ai plans to utilise the seed funding towards talent acquisition, product development, bolstering its tech infrastructure, research and development, marketing, and global expansion.

“WhatsApp has already established itself as a major customer engagement and retention tool, entirely superseding emails and other traditional mediums in some sectors. Businesses that are capable of leveraging this tool in an interactive manner are poised to have a competitive edge,” said Leo Capital Partner Dinesh Singh

Indian luxury brand Louis Stitch raises Rs 5 Cr from Bijli Group’s Logistics arm

Indian luxury fashion brand Louis Stitch has secured Rs 5 crore in a Pre-Series A funding round at a pre-money valuation of Rs 100 crore.

The funding comes from Bijli Group’s logistics arm, ATC Logistics, and will be used to expand the brand’s offline presence through exclusive brand outlets across key Indian cities, as well as to expand its product lines and strengthen its production and distribution capacity.

Louis Stitch aims to create a Rs 100 crore topline in FY24.

Founded in July 2019, it sells through its website and ecommerce platforms such as Myntra, Amazon, Flipkart, and Nykaa.

“With over a million customers served so far now, we plan to launch luxury apparel series of Polos, shirts, and trousers,” said Amol Goel, Founder and CEO of Louis Stitch. “The funding will be a huge boost for us to expand our production and distribution capacity, and reach all the prominent markets with our new products.”

Other news

Stashfin appoints Priyadarshi Dutta as Chief Risk Officer

Lending and credit solutions fintech platform Stashfin has appointed Priyadarshi Dutta as its Chief Risk Officer to manage and mitigate risk while guiding the company through an ever-changing regulatory environment.

Dutta has more than 18 years of experience in risk analytics, and decision analytics. He previously held senior positions at RBL Bank and American Express.

Stashfin recently raised $100 million in a debt funding round, attracting participation from Trifecta Capital, Innoven Capital, and several domestic lenders, and is looking to expand its presence in the Indian fintech market.

The company provides access to fair, fast, affordable, and transparent financial products for millions of borrowers in India, including those with limited credit footprints.

Settl. to expand co-living business with 1,500 new beds in Delhi-NCR by FY 24

Settl., a Bengaluru-based co-living operator, plans to open four new centres in Gurugram, with a total capacity of about 300 beds in the next month.

The move is in response to the rising demand for rental accommodations from working professionals in Delhi-NCR. Settl. already has seven operational co-living properties, with approximately 700 beds in Gurugram and is set to open four new properties with around 300 beds in the next month.

Besides Gurugram, the company currently has 1,200 beds in Bengaluru and 300 in Hyderabad.

The co-living operator plans to launch a total of 1,500 beds in NCR during FY24 and touch 2,200 beds in Delhi-NCR and 5,000 across India by March next year

“The rising demand for managed rented co-living accommodation is a testament to the need for community living and convenience,” said Settl. Co-founder Bharath Bhaskar.

IOCL, Tesla Power USA partner for battery distribution in India

Indian Oil Corporation Limited (IOCL) and Tesla Power USA have announced a strategic partnership to distribute and service automotive batteries at IOCL petrol pumps across India.

Marking the first national-level tie-up between Indian Oil Corporation Ltd and a battery distribution company, the move comes as part of IOCL’s commitment to achieving net-zero emissions by 2070.

The TBA (Tyre Battery Accessories) concept of placing batteries at petrol stations has the potential to offer significant benefits to customers, including the convenience of getting battery replacement or new purchases along with refuelling their car.

Initially, Tesla Power USA batteries will be available at IOCL fuel pumps in the Delhi-NCR region, which will later be expanded to other states.

Customers will receive a free fire extinguisher worth Rs 600 with every purchase of four-wheeler batteries.

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