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DSP leads $2 Mn seed round in ArthAlpha

EntrackrEntrackr ยท 4m ago
DSP leads $2 Mn seed round in ArthAlpha
Medial

Investment technology firm ArthAlpha has raised over $2 million in a seed funding round led by DSP, with participation from family offices and wealth managers. The proceeds will be utilized to enhance its technological capabilities, scale its data infrastructure, and further develop its investment management offerings in Indian public equities, ArthAlpha said in a press release. Co-founded in 2022 by Rohit Beri and Rohit Jha, ArthAlpha is an investment technology and investment management platform that leverages data-driven insights to empower investors with state-of-the-art investment solutions. The startup specializes in Portfolio Management Services (PMS) and AI-driven investment research. The Bengaluru-based company intends to deliver consistent and superior long-term investment outcomes for its clients. โ€œWith the support of our investors, we are accelerating the development of AI-driven investment research platforms that will empower us to deliver insights and strategies that are not only smarter but also more personalized. As we scale our offerings and broaden our reach, we are excited to lead the charge in transforming investment management for the future,โ€ said Rohit Beri, CEO and co-founder of ArthAlpha. ArthAlpha plans to expand its research team and refine its proprietary algorithms to make more accurate and timely investment decisions. Its strategic focus includes expanding its client base and developing new product offerings within the investment management sector. ArthAlpha integrates technology with investment management to provide data-backed insights and quantitative investment solutions for investors. It also aims to develop a cutting-edge quantitative investment research platform for other investment firms, which will support improved decision-making and deliver enhanced investment outcomes.

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DSP Mutual Fund acquires Volt Money

EntrackrEntrackr ยท 3m ago
DSP Mutual Fund acquires Volt Money
Medial

DSP Mutual Fund has acquired Volt Money, a platform providing instant secured loans against mutual funds, according to three sources aware of the development. โ€œThe two companies were in talks for the past few months and the deal ultimately closed last month. Following the acquisition, Volt Money key team members will join DSP Mutual Fund,โ€ said one of the sources requesting anonymity as talks are private. Volt Money collaborates with lenders and distribution partners to provide instant secured loans with favorable terms. The company offers credit lines ranging from Rs 25,000 to Rs 1 crore, with interest rates starting at 9% and flexible repayment options. Led by Lalit Bihani, Ankit Agarwal, and Bharat Lamba, the firm raised $1.5 million in a Seed round led by Titan Capital and All In Capital, with participation from individuals including Praveen Jadhav of Raise Ventures, Aditi Kothari of DSP Adiko Holdings, Gemba Capital, Kunal Shah of Cred, and Ashish Kehair and Rahul Jain from Nuvama Wealth. Managed by DSP Investment Managers, DSP Mutual Fund offers investment products across equity, debt, hybrid, and international funds. According to sources, the deal did not provide significant returns for investors. โ€œVolt was unable to secure a follow-on round after its seed funding, but this is a reasonable outcome for the founders,โ€ said another source who wished to remain anonymous. Queries sent to Volt Money and DSP Mutual Fund did not elicit responses until publication of the story. Volt Money competes with Quicklends and DhanLap. Last year, fintech unicorn BharatPe also entered the loans-against-mutual-funds space through a partnership with Volt Money.

Admission startup Ambitio raises $2 Mn in seed round

EntrackrEntrackr ยท 3m ago
Admission startup Ambitio raises $2 Mn in seed round
Medial

Admission startup Ambitio raises $2 Mn in seed round Admissions startup Ambitio has secured $2 million in a seed funding round led by BLinC Invest along with participation from Ritu Bapna and other investors. Prior to this, the startup raised $187K in the same round from First Cheque and others. The fresh funds will be used to invest in technology and scale distribution channels, Ambitio stated. Co-founded in 2022 by Dirghayu Kaushik and Vikrant Shivalik, Ambitio is an AI-driven admissions platform leveraging over 10 million data points to provide a personalized admissions experience. It aims to match students to best-fit universities using real admission data. Ambitio claims successful admissions in top colleges like Harvard, Stanford, Columbia, and Oxford. It plans to help over 500,000 students access global education in the next two years and competes with startups such as Yocket, Gradvine, and MiMEssay.

Piston closes $7.5 Mn seed round led by Spark Capital

EntrackrEntrackr ยท 18d ago
Piston closes $7.5 Mn seed round led by Spark Capital
Medial

Piston closes $7.5 Mn seed round led by Spark Capital Fintech startup Piston has closed its seed round at $7.5 million. The latest $6.1 million round was led by Spark Capital, with participation from Pear VC and BOND. It follows a $1.4 million pre-seed raised via the PearX accelerator. The proceeds will be used to expand go-to-market efforts and continue building its network across the US. Shivam Shah leads the India presence, with all engineering and parts of operations and customer success based there. Founded by former fleet operators Vikram Sekhon and Shivam Shah, Piston replaces card-based systems with a direct payment infrastructure that connects fleet drivers and fuel stations. The platform uses a QR-code-based system to link payments to vehicle, time, location, and fuel data, while stations connect directly to Pistonโ€™s network without hardware upgrades or intermediaries. Piston currently works with over 120 fleets and 800 gas stations, processing more than $20 million in annualized volume with a 50% monthly growth rate. Its headquarters is in Cupertino, with additional operations in Lehi and a 25-member engineering and operations hub in Kolkata, which is expected to double in size over the next year.

Gen AI SaaS startup Vodex raises $2 Mn in seed round

EntrackrEntrackr ยท 1y ago
Gen AI SaaS startup Vodex raises $2 Mn in seed round
Medial

Generation artifical intelligence (AI) startup Vodex has raised $2 million in its seed round from Unicorn India Ventures and Pentathlon Ventures. The funds raised will be used for global expansion and to scale their business to at least four-folds in the next one year, the company said in a press release. Co-founded by Anshul Shrivastava and Kumar Saurav, Vodex uses its Generative AI solution to craft voice conversations that closely mimic human interaction, enhancing outbound sales calls with a more personal and engaging experience. Vodex offers businesses a tool to expand their reach, qualify leads, and close deals with speed and scale, all while delivering a natural and engaging customer experience. Since 2022, Vodex claims to have empowered businesses worldwide, with calling needs in the USA and Canada regions. In the Gen AI space, Ema scooped up $25 million which is the second largest funding for an early-stage startup operating in this space. In December 2023, generative AI startup Sarvam AI raised $41 million in a Series A round led by Lightspeed along with participation of Peak XV Partners and Khosla Ventures.

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