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Optimo Loan raises $10 Mn seed in round

EntrackrEntrackr · 1y ago
Optimo Loan raises $10 Mn seed in round
Medial

MSME-focused lending-tech startup Optimo Loan has raised $10 million in its seed round led by Blume and Omnivore, with additional contribution from Optimo’s founder, Prashant Pitti. The proceeds will be used to expand its operations, enhance its technology, recruit new talent, and broaden its presence to 20 locations in rural India by the end of this year, the startup said in a press release. Founded by Pitti, Optimo facilitates access to quick, easy, and flexible financing options for MSMEs. It supports businesses in investing in new technologies, increasing liquidity, and ensuring business continuity. The startup actively contributes to local job creation, economic growth, and community development. The startup is also building a co-lending platform for MSMEs with a unique underwriting method. This approach allows Optimo to gain deeper insights into the financial health of MSMEs, enabling informed lending decisions and catalyzing entrepreneurship and economic growth in rural communities. That said, early-stage India-focused venture fund Blume Ventures invests in seed and pre-Series A rounds in tech-led startups. It is presently investing via its Fund IV, a $300 million vehicle supported by institutional LPs and family offices. Following the close of Fund IV, Blume now has an AUM (Assets Under Management) of over $600 million.

Related News

Airbound raises $8.65 Mn in seed funding round

EntrackrEntrackr · 6d ago
Airbound raises $8.65 Mn in seed funding round
Medial

Airbound, an autonomous delivery logistics firm specializing in blended-wing-body aircraft, has raised $8.65 million in a seed funding round and entered a pilot partnership with Narayana Health. The round was led by Lachy Groom, with participation from Humba Ventures, existing investor Lightspeed, and senior leaders at Tesla, Anduril, and Ather Energy. Following this seed round, Airbound has raised over $10 million in total funding. The funds will be used to scale manufacturing, expand operations beyond medical delivery, refine its technology, and prepare for wider market adoption in 2026, Airbound said in a press release. Launched in 2023 by Naman Pushp, Airbound aims to make logistics seamless and delivery costs negligible, enabling fast, reliable transport across all sectors, including underserved regions. The company’s proprietary carbon-fiber manufacturing process allows rapid production of drones, each achieving a payload-to-aircraft mass ratio of 1 kg to 1.5 kg. According to Airbound, its blended-wing-body tailsitter design combines vertical takeoff and landing with the efficiency of fixed-wing flight, overcoming the limitations of tilt-rotor and quadplane designs. The company’s aircraft form the backbone of a scalable, cost-efficient, borderless supply chain. Airbound has launched a three-month pilot partnership with Narayana Health, aiming to complete 10 medical deliveries per day, including blood samples, test kits, and essential supplies. This program provides a proof of concept for one of the most demanding delivery applications, demonstrating reliability, speed, and cost efficiency.

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