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Olee.space raises $3 Mn in seed round

EntrackrEntrackr · 4m ago
Olee.space raises $3 Mn in seed round
Medial

Olee.space, a laser-based communication and photonics defense system, has secured $3 million in a seed funding round from Rockstud Capital and other global investors. The fresh funds will be allocated towards scaling production, advancing its quantum-secure communication protocols, and expanding its defense tech roadmap, Olee.space said in a press release. Co-founded in 2023 by James Solomon and Suman Hiremath, Olee.space is a photonics and defense technology company that builds next-generation systems in Free-Space Optical Communication (FSOC), quantum-encrypted networking, and directed energy weapons. Its advanced solutions include resilient systems for terrestrial, inter-satellite, and ground-to-space links, designed for low latency, maximum security, and optimized data throughput. As per the Pune-based startup, Free-Space Optical Communication (FSOC) uses low-powered infrared laser beams to deliver ultra-fast, secure data links across land, air, sea, and space. Olee.space’s DEW platform, which is under development for anti-drone/UAV and anti-satellite operations, is designed to deliver precision tracking, real-time targeting, and neutralization of aerial threats. “I have always been fascinated by how lasers function. Working with light gives me happiness and I am here to do as much justice to this domain as any of my able team members. What we do here is rewarding to the country, and would continue doing so,” said James Solomon, founder and CEO of Olee.

Spacetech startup Sisir Radar raises $1.5 Mn in seed round

EntrackrEntrackr · 10m ago
Spacetech startup Sisir Radar raises $1.5 Mn in seed round
Medial

Spacetech startup Sisir Radar, which builds Synthetic Aperture Radar (SAR), has raised $1.5 million in its seed round led by Shastra VC. The round also saw participation by Riverwalk Holdings and INVSTT. The proceeds will be used to enable Sisir Radar to build stronger R&D and manufacturing capabilities and uniquely position it to launch the highest resolution L-band SAR Satellite by the end of 2026. Founded by Dr Tapan Misra, Sisir Radar provides SAR technology enabling defence, intelligence and commercial applications. It claims to be the first Indian company to build SAR imaging payloads across multiple bands including L, P and X bands. Sisir’s SAR technology enables 24x7 real-time monitoring of the Earth and can see through darkness, clouds, and dense foliage, enabling critical applications in defence, agriculture, mining, disaster response, maritime surveillance, and infrastructure monitoring. Besides being a technology partner to major defence companies in India for developing radar solutions, Sisir has also won 2 IDEX challenges to build a submetric L band and high resolution P band SAR satellite for the Indian Air Force.

Vimano raises Rs 25 Cr in seed round led by Ankur Capital

EntrackrEntrackr · 8m ago
Vimano raises Rs 25 Cr in seed round led by Ankur Capital
Medial

Vimano raises Rs 25 Cr in seed round led by Ankur Capital Nanotechnology startup Vimano has raised Rs 25 crore (around $3 million) in its seed round led by Ankur Capital. This is the first investment from Ankur Capital’s new third fund. The proceeds will be used to help them grow their team, start pilot projects, and set up manufacturing. Started in 2019 by Murari Ramkumar and Dr. Nagesh Kini, Vimano makes special membranes used in energy systems like redox flow batteries, fuel cells, and green hydrogen production. These membranes help store and use energy more efficiently. Its technology aims to reduce the cost of green hydrogen and make long-term energy storage cheaper. Vimano works on clean energy problems by making special materials that help electricity flow better. Its membrane technology can be changed to fit different uses, making it more useful and powerful. These membranes also waste less energy and last longer than many others available today. The startup is working with partners in the energy space to test and use its tech in real-world projects. According to Vimano, it aspires to speed up the shift to green energy and support industries looking for better ways to store and use clean power. In August last year, Ankur Capital had received commitments from two of its existing Limited Partners into its third fund. Since its inception, the VC firm has been backing deep technology innovations companies such as Captain Fresh, String Bio, Vegrow, Offgrid Energy Lab, BigHaat, Cropin, and Niramai.

Stock Radar: Medi Assist, Matrimony, HAL, Premier Energies, Gensol Engg, Muthoot Finance in focus on Tuesday

Money ControlMoney Control · 1y ago
Stock Radar: Medi Assist, Matrimony, HAL, Premier Energies, Gensol Engg, Muthoot Finance in focus on Tuesday
Medial

In today's stock market, several stocks are in focus. Some notable ones include: 1. Medi Assist Healthcare Services: Promoter Bessemer India Capital Holdings plans to sell shares worth Rs 540 crore through a block deal. 2. Adani Green Energy: Approved a joint venture with TotalEnergies Renewables Singapore, with an investment of $444 million. 3. Hindustan Aeronautics: The Cabinet Committee on Security approved the procurement of aero-engines for the Indian Air Force. 4. Muthoot Finance: Its subsidiary, Belstar Microfinance, received SEBI approval for an IPO to raise Rs 1,300 crore. 5. Lemon Tree Hotels: Signed a license agreement for an 80-room hotel property in Gir, Gujarat. 6. Maruti Suzuki India: Reported a 2.1% increase in total production in August compared to the same period last year. 7. Welspun Corp: Approved a $100 million investment for upgrading manufacturing and coating capabilities in the USA. 8. Zee Entertainment Enterprises: Appointed Shiva Chinnasamy as Chief Technology & Product Officer. 9. ICICI Bank: Stated that no salary or employee stock option plans have been paid to Madhabi Puri Buch after her retirement. This is just a brief snapshot, and there is more news in the market.

8i Ventures leads $4 Mn Series A round in TransBnk

EntrackrEntrackr · 1y ago
8i Ventures leads $4 Mn Series A round in TransBnk
Medial

Mumbai-based fintech startup TransBnk has raised $4 million in Series A funding round led by 8i Ventures. The round also saw participation from Accion Venture Lab, GMO Venture Partners, Ratio Ventures, and Force Ventures along with a group of family offices, institutions, and angel investors. The Mumbai-based fintech startup had previously raised $1 million in seed funding led by 8i Ventures back in June 2023. The proceeds will be allocated towards expanding the network of banking partners, making foray into the Middle East and SouthEast Asia markets, bolstering its tech infrastructure, and enhancing product stack, TransBnk stated in a press release. Co-founded in 2022 by Vaibhav Tambe, Lavin Kotian, Sachin Gupta, and Pulak Jain, TransBnk is a transaction banking platform enabling corporate, commercial and institutional clients to make agile, secure and robust transactions with embedded finance and SaaS. It aims to provide deep domain expertise to ensure seamless business transactions for domestic cash management and payments, escrows, trade finance, supply chain finance and custodial services in close collaboration with banks. According to market research, transaction banking is holding $1 trillion global market potential and is projected to be a $2 trillion industry by 2030. TransBnk claims to have witnessed 10X revenue growth, forged partnerships with over 25 Banks, extending more than 200 APIs, while working with 100 BFSI clients. The platform also claims that it has supported over 5,000 accounts including escrows and processed more than 50 million transactions. TransBnk may directly or indirectly compete with other companies like Razorpay, Cashfree Payments, Decentro, Knight Fintech, Digio and others.

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