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MaxIQ raises $7.8 Mn led by Dell Technologies

EntrackrEntrackr · 7m ago
MaxIQ raises $7.8 Mn led by Dell Technologies
Medial

Revenue AI platform Gyaan AI has rebranded as MaxIQ and has raised $7.8 million in seed funding led by Dell Technologies Capital along with participation from Intel Capital. The proceeds will be utilized to scale its operations, accelerate product innovation, and expand the leadership team, MaxIQ said in a press release. Founded by Sonny Aulakh in 2022, MaxIQ is the first AI-powered customer journey management platform, designed to unify sales, customer success, and revenue operations to maximize customer lifetime value. It enables B2B SaaS enterprises to manage revenue across their entire customer lifecycle. MaxIQ weeds out the hassles of inaccurate forecasting, delayed time-to-value, and lost revenue opportunities. On average, sales and customer success teams rely on more than 14 tools in their tech stack, making it difficult to drive adoption, retain customers, and forecast revenue with confidence.

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Kaleidofin raises $13.8 Mn led by Rabo Partnerships

EntrackrEntrackr · 1y ago
Kaleidofin raises $13.8 Mn led by Rabo Partnerships
Medial

Fintech startup Kaleidofin has raised $13.8 million in a new round led by Rabo Partnerships B.V. Existing backers Michael & Susan Dell Foundation, Oikocredit, Omidyar Network India and Flourish have also participated in the round. This takes the total funds raised by kaleidofin since its inception to $37 million. In May 2022, the Chennai-based startup raised $15 million in its Series B round led by the Michael and Susan Dell Foundation and others in two tranches in the same year. The fresh proceeds will be used to scale its lending portfolio and expand credit scoring, middleware, and risk services through selected partnerships. Led by Sucharita Mukherjee and Puneet Gupta, Kaleidofin offers products such as KaleidoGoals, a goal-based savings solution; KiScore, a supervised machine learning-based automated credit health checking platform for informal sectors; KaleidoCredit, a credit as a platform service for lending and debt capital markets use cases; and KaleidoPay, a suite of inclusive payment solutions. The company claims to have facilitated loan disbursal of cumulatively over $2.7 billion for over 4.7 million customers and small enterprises working in the informal economy, since 2020.

CredRight raises $10 Mn in Series B led by Abler Nordic

EntrackrEntrackr · 2m ago
CredRight raises $10 Mn in Series B led by Abler Nordic
Medial

CredRight, a Hyderabad-based NBFC focused on nano and micro enterprises, has raised $10 million in Series B funding led by Abler Nordic, which marked its first investment from its new Fund V. Existing backers Michael & Susan Dell Foundation and Unleash Capital also participated, while Abler Nordic has now emerged as the company’s largest equity investor. Earlier in August 2023, CredRight had raised around $9.7 million led by the Michael & Susan Dell Foundation and others. The new proceeds will be used to expand CredRight’s loan book, strengthen its technology platform, and deepen reach across tier-II to tier-IV markets. Founded in 2016 by Neeraj Bansal and Vineet Jawa, the company operates a phygital model combining digital lending with a network of 125 low-cost branches across four states. Currently, CredRight serves over 20,000 micro-enterprises, including shopkeepers and traders traditionally excluded from formal finance. Its model targets India’s $530 billion MSME credit gap, of which $169 billion lies in the micro segment. CredRight competes in the inclusive finance and MSME lending space alongside players like Kinara Capital, Varthana, Aye Finance, U GRO Capital, and Indifi.

Chara Technologies raises $6 Mn in Series A led by Arkam Ventures

EntrackrEntrackr · 12d ago
Chara Technologies raises $6 Mn in Series A led by Arkam Ventures
Medial

Chara Technologies raises $6 Mn in Series A led by Arkam Ventures Chara Technologies, a deep-tech powertrain solutions company developing rare-earth-free motors and controllers, has raised Rs 52 crore (about $6 million) in Series A funding round led by Arkam Ventures along with participation from Exfinity Venture Partners, Kalaari Capital, and IIMA Ventures. The Bengaluru-based company had previously raised $4.75 million in its pre Series A funding round led by Exfinity Venture Partners. The funds will be used to set up a new Bengaluru factory, launch advanced motor variants, and enhance its powertrain and in-house tech capabilities, Chara Technologies said in a press release. Co-founded in 2019 by Bhaktha Keshavachar, Mahalingam Koushik, and Ravi Prasad, Chara Technologies specializes in the development of rare-earth-free electric motors and controllers for various applications, including Electric vehicles, both on-highway and off-highway, Industrial applications, and Agricultural equipment. According to Chara Technologies, it has built a synchronous reluctance architecture that eliminates magnets entirely, making its motors 15-20% more cost-effective and significantly more sustainable, while still matching the performance of PMSMs (Permanent magnet synchronous motors). Its products deliver improved vehicle range, reduce energy losses, and lower total cost of ownership (TCO). Chara’s proprietary motor control algorithms, power electronics architecture, and software form the foundation of its end-to-end powertrain system, enabling superior system efficiency and scalability across applications. The firm boasts of close to 100 customers, including Greaves Cotton, BullWork, Sonalika, VST, and European OEMs. With Greaves Cotton, Chara has entered into a strategic partnership to jointly manufacture rare-earth-free synchronous reluctance motors and controllers at Greaves. With footprints in Belgium and Italy, Chara plans to target North America and a deeper presence in Europe. The company is also targeting a 6x top line growth, from FY25 to FY26, with a goal of selling 40,000 motors by FY27.

Deeptech startup Planys raises $4 Mn

EntrackrEntrackr · 1y ago
Deeptech startup Planys raises $4 Mn
Medial

Deeptech startup Planys Technologies has raised $4 million in its ongoing pre-Series A round. The fresh investment tranche has come after a gap of more than two years for the Chennai-based firm. The board at Planys Technologies has passed a board resolution to issue 8,471 CCPS at an issue price of Rs 41,600 each to raise Rs 35.23 crore, its regulatory filing accessed from the Registrar of Companies shows. Himalaya Finance, Golden Birch Investments, Krishna Defence, Impact India Investments, SiriusOne Capital, and several individuals including Ashish Ramesh Kacholia, Shalini Chhabra, and Puneet Gupta participated during the new investment tranche. The company also approved its MSOP pool of 1,445 equity shares amounting to Rs 6 crore (as per the valuation report) in February, a separate filing shows. Established in 2015 by Tanuj Jhunjhunwala and Rakesh Sirikonda, Planys does underwater inspection by offering secure and adaptable solutions through marine robotics and analytics systems. The company has been working on over 350 projects with its 10 products across 5 countries. It also has more than 30 patents under its belt. Planys Technologies has raised around $8 million to date including a $1.6 million round led by Keiretsu Forum, LetsVenture in November 2021. According to the startup data intelligence platform TheKredibe, the company has been valued at around Rs 135 crore (post-money) in the new tranche. Unlike other startups, Planys hasn’t been growing at a rapid clip and this could be evident from its flat scale which grew to Rs 8.63 crore in FY23 as compared to Rs 7.41 crore in FY22. Moreover, the firm’s losses also spiked 3.2X to Rs 3.51 crore in the same period.

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