Funding
Cashinvoice secures $3.4M in Series A funding
Cashinvoice secured $3.4 million in Series A funding led by HDFC Bank, Pravega Ventures, and Accion Venture Lab. The company targets $2.4 billion in loan disbursals to MSMEs by FY25, aiming to expand operations, enhance market presence, and develop new products.
“This strategic investment will enable extended financial inclusion for the missing middle by deploying innovative SCF technologies. It underlines our dedication to transforming MSMEs’ cash flow and working capital management, creating a more streamlined and efficient supply chain finance landscape,” Shrinivas Kasar, Co-founder of Cashinvoice, said.
Cashinvoice’s digital invoice discounting marketplace aids anchor companies and MSME partners, integrating with corporates for loan processing against invoices. So far, it has facilitated over 15 lakh invoices totalling more than Rs 15,000 crore.
Piscium secures Rs 6 Cr for medical devices, eyes global expansion
Piscium, a nano-technology startup focusing on medical devices, has raised Rs 6 crore in Series A funding led by Unicorn India Ventures.
“Unicorn India Ventures agreeing to come on board to fund our Series A round gives us the much-needed impetus and backing to scale up the business into an internationally renowned dental and medical device company in the near future,” Malay Dikshit, Founder and CEO of Piscium, said.
Founded in 2017, the startup aims to elevate dental and medical practices with its patented nano-diamond technology. With a portfolio of over 10 product categories, including dental burs and alginates, Piscium targets to reach 300,000 dentists worldwide by 2027.
“As volumes grow, Piscium is also developing its vendor ecosystem to deliver precision and quality. The company has served over 25,000 dentists till now, it said in a statement.
Koparo secures Rs 5.2 Cr for brand expansion
Sustainable home care brand Koparo raised Rs 5.2 crore in funding from 4P Capital Partners and Rs 70 lakh from Shark Tank India, with boAt’s Aman Gupta and SUGAR Cosmetics Founder Vineeta Singh as investors.
Launched in 2021 by Simran Khara, the brand focuses on naturally powered, child-safe, and pet-friendly cleaning products, aiming to reach 10 lakh Indian consumers in the next two years.
Koparo will use the funds for brand building and distribution expansion. Valued at Rs 70 crore, the startup closed last fiscal revenue at Rs 5 crore and is planning to clock Rs 12 crore this fiscal and grow to Rs 50 crore in the next two years.
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Other news
Cleartrip launches corporate travel management tool Out of Office
Flipkart-owned Cleartrip launched Out of Office (OOO), a corporate travel management tool, for businesses of all sizes.
The OOO feature will offer real-time policy adjustments, integrated travel expenses, and access to corporate fares. It also features one-click onboarding, GST billing for large enterprises, detailed expense reports, and multiple provider options.
“OOO is a plug-and-play solution that adapts to organisational needs quickly. It can manage multiple booking behaviours (self-booking, travel desk booking) and multiple entities in a single instance. The focus of the tool is 30% on bookings and 70% on policy adherence. Notably, the tool addresses a common pain point for corporates by enabling the procurement of hotel invoices,” the company said in a statement.
It also gives access to self-contracted corporate fares, real-time invoices, and a reconciliation engine.
It is already working with 300 SMEs and 10 large corporations, processing a monthly business volume of Rs 20 crore. Its early adopters include The Federal Bank and Sify Technologies.
(This article will be updated with the latest news throughout the day.)
Edited by Suman Singh
