You are currently viewing Startup news and updates: daily roundup (June 3, 2021)

Startup news and updates: daily roundup (June 3, 2021)

Crejo.Fun raises $3M led by Matrix Partners India, Binny Bansal’s 021 Capital (Funding)

Crejo.Fun, an edtech platform focused on extracurricular activities for children has raised seed funding of $3 million led by Matrix Partners India and Binny Bansal’s 021 Capital. The funds will be used for team expansion, product and content development, as well as to drive growth.

Edtech platform raises $500K in seed round from HNIs and Angels (Funding)

Digital academy for extracurricular activities on Thursday announced that it has raised $500,000 in its seed round from HNIs and angels, including Ankit Nagori, Co-founder of Cure.Fit and CEO of Eat.Fit; Neeraj Aggarwal, Co-founder and COO Xto10x; Abhishek Nag (Angel List), Director of Business Development, Netflix India, and family fund of MEL.

Jio accelerating rollout of digital platforms, indigenously-developed 5G stack

Jio is accelerating the rollout of digital platforms and indigenously-developed next-generation 5G stack, Reliance Industries’ annual report said, highlighting that India is at the forefront of the global digital revolution.

Reliance Jio has built sufficient network capacity for the next 300 million mobile broadband subscribers, over 50 million fibre homes, and 50 million micro, small and medium businesses, it said.

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KreditBee Co-founder and CEO Madhusudan E

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KreditBee Co-founder and CEO Madhusudan E

Fintech lending startup KreditBee raises Rs 60 Cr from SIDBI’s India SME (Funding)

India SME Investments has recently expanded its portfolio in the BFSI segment by infusing a capital of Rs 60 crore into the holding entity of fintech lending startup KreditBee. 

The investment comes in the form of both equity and debt. This round is a follow-up tranche of investment from India SME after having invested Rs 28.4 crore in September 2019 as debt in Krazybee Services Private Limited, the RBI-backed NBFC-ND-SI which is a part of the holding company of KreditBee.

Indian envoy holds meetings with CEOs of top US companies on COVID-19 crisis

The Indian envoy in the US is having an intense engagement with the CEOs of top American companies, particularly from the pharma sector, to help India get the necessary medical equipment and drugs to successfully combat the COVID-19 pandemic.

On Wednesday, India’s Ambassador to the US, Taranjit Singh Sandhu, tweeted: “Spoke today afternoon with Medtronic CEO Geoff Martha on their support in India’s fight against the pandemic, including through supply of ventilators along with other partners.”

Digital platform Spardha raises Rs 3Cr in pre-Series A1 round led by IPV (Funding)

Spardha, a Delhi-based digital platform for learning music and performing arts, on Thursday said it has raised Rs 3 crore in a pre-Series A1 round led by Inflection Point Ventures (IPV), along with a few US-based HNIs.

According to an official statement, the platform will utilise the funds in branding and marketing, expansion of sales and products team, curriculum development and enhancement, digital platform enhancement, and expanding presence in four new international markets, including the UK, Singapore, Canada, and Australia.

Healthcare startup Onelife Nutriscience raises undisclosed sum from Lasons India (Funding)

Mumbai-based nutraceutical healthcare company Onelife Nutriscience Pvt Ltd has raised an undisclosed amount of funding from pharmaceutical manufacturer Lasons India.

The healthcare startup produces Vitamin B3 (Niacin and Niacinamide) and specialty chemicals from India, with exports to more than 100 countries, including China.

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Gaurav Aggarwal, Founder, Onelife

” align=”center”>Gaurav Aggarwal, Founder, Onelife

Gaurav Aggarwal, Founder, Onelife

Enabling Qapital, Vivriti Asset Management partner to invest Rs 375Cr in underserved Indian businesses

Enabling Qapital (EQ) — a Swiss impact investment firm — on Thursday announced its partnership with Indian asset manager Vivriti Asset Management (VAM) to invest up to Rs 375 crore over time towards fostering UN sustainable development goals (SDGs) and supporting businesses that are expected to lead economic recovery post the COVID-19 pandemic.

The partnership aims to provide debt finance to support small enterprises and fintechs, empower women entrepreneurs, and strengthen agriculture supply chains.

D2C brand Flatheads raises growth capital from GetVantage (Funding)

Online footwear brand Flatheads has raised an undisclosed amount in growth funding from ecommerce investment marketplace GetVantage.

Launched just before the pandemic, the brand claims to have grown 5X in the past year. It will use this capital infusion to fuel expansion and grow revenues.

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