Funding news
SmartCheck secures debt funding
SmartCheck, headquartered in Hyderabad and specialising in SaaS facility management services, has recently secured undisclosed debt funding from Incred Capital, with facilitation by India’s premier investment banking firm, Lakhani Financial Services. This marks SmartCheck’s first external funding round.
The capital infusion comes at a pivotal moment for SmartCheck as it embarks on a journey to expand its business operations and accelerate software development initiatives. With a strong focus on delivering cutting-edge facility management solutions, SmartCheck aims to leverage the funds to strengthen its market position and enhance its suite of innovative offerings.
“We are thrilled to have secured this debt funding, which will enable us to fuel our growth trajectory and further enhance our software capabilities,” said Sreenivasteja M. and DV Sarath Reddy, founder and director of SmartCheck.
Holani Group launches Rs 400 crore SME focused fund
Holani Venture Capital Fund, a SME-focused fund promoted by a renowned name in the investing realm, The Holani Group, has received a communique from the Securities and Exchange Board of India (SEBI) for registration of its Alternate Investment Fund, enabling it to operate as an Equity Fund house. T
his landmark communication marks a significant milestone for the Holani Group, signaling its foray into the realm of fund management and investment.
Holani Venture Capital Fund Category I AIF, managed and sponsored by Holani Capital Advisors LLP, is an Indian growth capital private equity fund. Recently, the fund received official registration from SEBI as a Category I AIF – Venture Capital Fund.
This regulatory approval allows the Holani Venture Capital Fund to mobilise and allocate Rs 300 crore from investors into the vibrant Indian equity markets. Additionally, the fund possesses a greenshoe option, enabling it to retain an extra Rs 100 crore.
Other news
Wonderchef launches all in one Kitchen Robot
Wonderchef, an industry leader in premium kitchen appliances has announced the launch of Chef Magic, an innovative, all-in-one kitchen robot designed to transform the home cooking experience with fully automated cooking processes. The device has hundreds of preloaded recipes, which can be chosen at will from the smartphone-like touchscreen.
Chef Magic then takes charge, providing step-by-step guidance on ingredient addition, weighing, and executing various cooking functions such as mixing, chopping, steaming, sautéing, blending, frying, stirring, and kneading.
Ravi Saxena, Founder and CEO of Wonderchef said, “We are confident of achieving Rs 200 crore in sales from Chef Magic in three years. This product will be leveraged strategically to further strengthen our foothold in overseas markets and we will be servicing the global markets from June this year. There is already a tremendous demand from Indians living abroad and from parents in India whose kids are abroad. The 120-volt machine for North America has also been developed and would be made accessible in the USA and Canada. All machines will keep getting regular recipe updates.”
(The copy will be updated with the latest news throughout the day.)
Edited by Affirunisa Kankudti
