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Funding news

Kaabil Finance raises $3M in pre-Series A funding

Jaipur-based MSME loan provider Kaabil Finance secured $3 million in pre-Series A funding led by 2point2 Capital and a host of high net-worth investors.

It will use the funds to strengthen its MSME loan book and beef up its credit, risk, collections, and tech teams, the company said in a statement.

Founded in 2018 by Ramavtar Meena, Kaabil provides nano and micro-loans of up to Rs 3 lakh to small and medium-sized businesses, intending to achieve assets under management of Rs 1,000 crore in 1,000 days.

“We are elated with the support of such a high-calibre group of investors. This investment will allow us to accelerate our growth and continue to create a positive impact for our target customer segment,” Ramavtar Meena, Founder and CEO of Kaabil Finance, said.

Social impact startup Mikro Grafeio raises $1.2M pre-Series A funding

Bengaluru-based social impact startup Mikro Grafeio has secured $1.2 million in pre-Series A funding from new and existing investors.

The company will use the fresh capital to fuel its expansion plans and penetrate Tier II and III markets to create over one lakh jobs in the regions. It aims to strengthen its technology capabilities to enhance operation efficiency.

Mikro Grafeio fosters economic growth and creates job opportunities beyond metro cities in India. It aims to generate one lakh job opportunities by offering integrated workspace and workforce solutions, as well as advisory and consulting services for businesses seeking to establish operations outside of Tier I cities.

“This funding will enable us to scale up our operations, enhance our technology, and reach out to more customers across India. We are confident that with our unique value proposition and focused efforts to increase social impact and employment in emerging cities, we will be able to create a positive impact on the lives and businesses of our customers,” Mohan Mathew, Co-founder of Mikro Grafeio, said.

Mar-tech startup MyEra raises undisclosed funding from EvolveX

New Delhi-based marketing tech startup MyEra has secured undisclosed funding from We Founder Circle’s early-stage programme, EvolveX.

The company plans to utilise the new capital to expand its technical team, build technology infrastructure, conduct public outreach, and develop and maintain its platform, it said in a statement.

Founded in April 2023, MyEra focuses on simplifying marketing and sales through its proprietary API, which helps online shoppers personalise products and virtually try before purchasing.

“With this infusion of capital as well as the mentorship of EvolveX, MyEra is poised to accelerate its development and revolutionize the ecommerce landscape, delivering unparalleled value to both shoppers and retailers alike. The dedication and ingenuity of our team, coupled with this strategic backing, herald a promising future for MyEra and the transformative potential of our technology,” Anirudh Sharma, Co-founder and CEO of MyEra, said.

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