Blog

Funding

Fundly.ai raises $3M in Seed round from Accel

Indian fintech startup Fundly.ai has secured $3 million in a Seed funding round led by Accel India, with participation from Multiply Ventures and angel investors.

Fundly.ai specialises in providing customised solutions to retailers and distributors in the pharma supply chain, helping to minimise friction, better manage cash flow, and increase margins.

The company was founded by Amit Chawla and Shreeram Ramanathan, who have more than 40 years of collective experience in the financial sector, including previous roles at TATA Capital, Aditya Birla Finance Ltd., and InCred.

Others

Alvarez & Marsal India appoints new MD

Santosh Kamath has been appointed as Managing Director of Alvarez & Marsal (A&M) India to strengthen the firm’s energy practice in the areas of energy transition and clean energy.

With over 23 years of experience in advising clients across the energy value chain, Kamath is known for shaping policy for governments, advising investors on investment decisions, and providing strategies to corporates and new energy companies.

Kamath is expected to expand A&M’s footprint in India, and further enhance the firm’s ability to drive change and maximise value for its energy sector clients.

InCred makes three senior hires in the investment banking team

InCred Capital, the institutional arm of financial services firm InCred Group, has hired three new senior executives to strengthen its investment banking leadership team.

Akbar Khan has been appointed as Chairman, Advisory; Anjani Kumar as Chairman, Client Coverage; and Mahesh Prasad as Managing Director.

“We are excited to have Akbar, Anjani, and Mahesh join our team. Their wealth of experience and expertise in investment banking, corporate finance, and M&A will be invaluable as we continue to grow our business and provide top-notch advisory services to our clients,” said Venky Vishwanathan, CEO, Investment Banking & Capital Markets, InCred Group.

(The copy will be updated throughout the day with the latest news.)