Funding news
Infinity Fincorp raises an additional $8M from Archerman Capital
Infinity Fincorp Solutions, an NBFC focusing on customised property loans for MSMEs, has secured an extra $8 million from Archerman Capital. This investment acts as an extension to the recent $26 million funding round led by Jungle Ventures, an independent VC firm based in Singapore. With this addition, the total funds raised in this round reached $34M, elevating the company’s total Assets Under Management (AUM) to Rs 800 crores (~$100M).
Distinguishing itself from other NBFCs, Infinity has carved out a niche in enabling credit access to a diverse range of MSMEs, including tea shop owners, vegetable vendors, small machine enterprises, restaurants, provision stores, textile shops, electricians, plumbers, carpenters, milkmen, laundry service providers, hairdressers, and financially underserved small-scale manufacturers.
This niche focus has contributed significantly to Infinity’s tremendous growth over the last four years and its role in supporting the burgeoning MSME segment in India.
Fresh From Farm raises $2M in Pre Series A
Fresh From Farm, a B2B2C platform for consolidating fresh fruit demand, has raised $2 million in a Pre-Series A round with participation from Inflection Point Ventures. Spearheading this investment is Ashish Kacholia, a seasoned investor in the public markets.
Fresh From Farm assumes responsibility for retailers’ operations, managing procurement, handling, sorting, and distribution, allowing them to concentrate exclusively on boosting sales.
The allocated funds will be utilised for team expansion, tech enhancement, and to introduce new product lines. This collectively aligns with Fresh From Farm’s growth strategy, positioning them for continued success and expansion in the marketplace.
TalkEsport raises $1M In Pre-Series A funding round
One of India’s leading esports media platforms TalkEsport has closed its pre-series A funding round securing a significant investment of $1 million from Saswat Ventures. The investment highlights TalkEsport’s strong growth trajectory and reaffirms its status as a pioneering force within the esports industry.
Established in 2011, TalkEsport was founded with a vision to deliver timely news and updates to gaming communities globally. As one of India’s longest-standing esports media platforms, the company currently serves millions of gamers worldwide through its website and social media channels.
With the recent investment, TalkEsport aims to expand its core website, introduce a highly interactive application for its audience, and establish a cutting-edge production studio in Mumbai. Through these initiatives, the company will launch exclusive content IPs focusing on gaming and esports.
Other news
Footprints Childcare launches AI assistant at their centers
One of India’s renowned preschool and daycare brands Footprints Childcare has announced the launch of its revolutionary AI assistant, boasting an impressive 98% accuracy rate. This cutting-edge technology represents a substantial advancement in early childhood education, enabling Footprints to provide care and transparency to parents more effectively.
Footprints’ new AI assistant offers a multitude of benefits for parents. The system can automatically detect situations where adult supervision is lacking in a classroom, triggering immediate alerts for teachers.
Additionally, the AI can monitor cleaning schedules, ensuring a hygienic environment for all students. Parents will have access to real-time data on their child’s activities, including meals consumed, nap times, and bathroom breaks.
Agilitas Sports appoints Nirdosh Chouhan as Chief Technology and Product Officer
Agilitas Sports, an innovation-led Sportswear and Athleisure solutions platform has announced the appointment of Nirdosh Chouhan as the Chief Technology and Product Officer. Being part of the founding team at Agilitas Sports, Chouhan will spearhead the technological revolution within the company, driving innovation in athleisure and sports footwear through state-of-the-art technology.
With over two decades of expertise in technology and product development, Chouhan is a seasoned leader known for driving cutting-edge innovations at industry giants like Apple, OYO and Oracle.
Ayodhya based CHUK turns profitable in 2023
The flagship brand of Pakka, CHUK has turned profitable during the third quarter of the fiscal year 2023–24. Underlining its dedication to compostability and innovation, CHUK has positioned itself as one of the leaders in providing eco-friendly alternatives to conventional tableware. During Q3 of the current fiscal year, CHUK recorded a noteworthy profit before tax (PBT) of Rs 174.24 lakhs.
Established in 2017, CHUK specialises in compostable tableware crafted from sugarcane residue, commonly known as bagasse. Additionally, it offers compostable alternatives to styrofoam and single-use plastic.
CCAvenue partners with Shivalik Small Finance Bank to boost payment options
Infibeam Avenues Ltd, a payment solutions provider, announced a strategic partnership between its flagship payment brand, CCAvenue, and Shivalik Small Finance Bank. This collaboration marks a significant milestone in expanding payment options for merchants and customers alike.
According to the agreement, CCAvenue will incorporate Shivalik Small Finance Bank’s internet banking option into its extensive payment platform. This integration introduces a fresh opportunity for the numerous merchants utilising CCAvenue’s services. They will soon gain access to a large customer base from Shivalik Small Finance Bank, thus substantially enhancing their business potential.
The partnership benefits not only merchants but also Shivalik Small Finance Bank’s account holders. With this integration, account holders will be able to make seamless payments on numerous websites powered by CCAvenue.
(The copy will be updated with the latest news throughout the day)
Edited by Affirunisa Kankudti
