Funding
BlackSoil invests $4M in GenWorks Health
Alternative credit platform has invested $4 million in GenWorks Health Private Limited, a medical technology company based in India.
The investment is expected to support GenWorks Health’s growth and development while contributing to the advancement of innovative healthcare solutions.
“Our investment in Genwork Healthcare is not only a testament to their potential for growth, but also to our belief in the transformative power of healthcare technology,” said Ankur Bansal, Co-founder of BlackSoil Capital. “By leveraging our expertise and resources, we are confident that together we can make a positive impact on the healthcare industry and improve the lives of countless individuals.”
GenWorks Health claims it has served over 40,000 customers in more than 700 districts across the country. Other investors in Genworks Health include Somerset Indus Capital Partners, Evolvence, and Morgan Stanley.
RACEnergy secures $3M in a pre-Series A round
Deeptech battery swapping company has raised $3 million in debt and equity in a Pre-Series A round led by growX Ventures. Investors like Micelio Mobility, Huddle, and other angel investors also participated in the round.
The new capital brings the total funds raised by the company to $6 million. RACEnergy noted that the funds will enable its expansion to new markets and further develop its swapping technology for two-and-three wheelers. It will also help scale its operations with a new facility in the pipeline, Co-founder Arun Sreyas, said.
“We are thoroughly impressed by RACEnergy’s expertise in deeptech, its exceptional in-house battery pack and swapping station developments,” Sheetal Bahl, Partner at growX Ventures, said in a statement. “With the recent clearance of AIS-156 Phase 2 certification and their successful commercial pilot that recorded an impressive 3 million green km, we are optimistic about their potential for exponential growth.”
Founded in 2019 by Arun Sreyas and Gautham Maheswaran, RACEnergy is a deeptech electric vehicle infrastructure company. It is expanding its network of battery swap stations in the country through its strategic national and state-level partnerships, including HPCL and Hala Mobility.
Slick raises $1.6M in seed funding
Slick, a social networking platform for GenZ, has raised $1.6 in a seed funding round led by WEH Ventures. Other investors like iSeed, Titan Capital, All In VC, and a clutch of angel investors, including Sumit Gupta, participated in the round.
The funding will be used to enhance Slick’s user experience, drive innovation, and develop
cutting-edge features to attract more users, the company said.
“There’s still a strong innate need to keep in touch with people and that’s why we believe this is the right time to build new social products, where the paradigm for monetisation could be very
different from when Snap/Facebook started,” Rohit Krishna, General Partner at WEH Ventures, said in a statement.
Since launching in December, with a team of 15 members, Slick claims to have amassed over one million users. Last year, Slick raised $500k in a pre-seed round led by Unacademy’s founders and other angel investors like Kunal Shah, Sujeet Kumar, and early-stage VCs, Titan Capital, and Blume Founders Fund.
Other news
ZebPay partners with TaxNodes
Crypto asset exchange has partnered with TaxNodes, an ITR filing platform, to simplify tax filing for virtual digital assets in India.
TaxNodes will provide assistance to ZebPay’s user community to ensure precise tax calculations and compliance, and to keep them updated with recent tax-related developments in the virtual digital asset industry.
“We are committed to creating a regulatory-compliant ecosystem that fosters the mainstream adoption of crypto in India. This partnership is a significant step towards achieving that goal and enabling greater collaboration between stakeholders in the crypto ecosystem,” Rahul Pagidipati, CEO of ZebPay, said in a statement.
(The copy will be updated throughout the day with the latest news.)
