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MedySeva raises Rs 4 Cr led by Unicorn India Ventures

EntrackrEntrackr ยท 1m ago
MedySeva raises Rs 4 Cr led by Unicorn India Ventures
Medial

Healthtech startup MedySeva has raised Rs 4 crore in a seed round led by Unicorn India Ventures. The proceeds will be used to expand phygital healthcare clinics across tier-II and tier-III locations, upgrade its telemedicine platform, strengthen digital infrastructure, increase patient outreach, and build on-ground operations and clinical support teams. Founded in 2022 by Dr. Vishesh Kasliwal, MedySeva provides teleconsultation and in-person doctor services through a hybrid healthcare model for rural and semi-urban regions. The company connects patients to doctors across medical specialities using a central telemedicine platform supported by physical clinics. MedySeva claims to have delivered 1,00,000 consultations in the last 12 months with a 60% repeat-patient rate. The firm aims to scale to 2 lakh annual consultations in 18 months. It has partnered with medical colleges to set up satellite clinics and onboarded doctors from 10 medical specialties. The brand has also tied up with pharmacies and healthcare providers to build a local care network. MedySeva plans to open over 500 phygital healthcare centres across India over the next 18โ€“24 months and enter five new states through institutional and state-level partnerships. MedySeva competes with primary healthcare and telemedicine players such as Practo, Medibuddy, Clinikk, HealthPlix, CureBay, and eSanjeevani in rural and semi-urban healthcare access.

IRDAI Approves Creation Of Insurance Marketplace Bima Sugam

Inc42Inc42 ยท 1y ago
IRDAI Approves Creation Of Insurance Marketplace Bima Sugam
Medial

The Insurance Regulatory and Development Authority of India (IRDAI) has approved the establishment of the online insurance marketplace, Bima Sugam. The marketplace aims to improve insurance penetration and make insurance products more accessible and affordable. It will serve as a one-stop platform for buying, servicing, and settling insurance claims. The marketplace will promote transparency, efficiency, and collaboration across the insurance value chain. India's overall insurance penetration reduced to 4% in FY23, down from 4.2% in FY22, highlighting the need for initiatives like Bima Sugam. The development is expected to boost the Indian insurtech industry and support new-age insurance players.

Online dispute resolution platform CADRE ODR raises $200K

EntrackrEntrackr ยท 1y ago
Online dispute resolution platform CADRE ODR raises $200K
Medial

Online dispute resolution (ODR) platform CADRE ODR has raised $200,000 in an ongoing pre-series A funding round from Aprameya Radhakrishna, Murali Subramanian, Ram Bhamidi, Aneesh Garg, and Rahul Guptan. The proceeds will be used to democratize access to justice, creating an affordable, efficient, and accessible dispute resolution option for businesses and individuals, CADRE ODR said in a press release. Co-founded in 2019 by Kanchan Gupta and Rajneesh Jaswal, CADRE ODR uses advanced technology to offer legally binding, rapid, and cost-effective solutions for commercial and other disputes. The company leverages an AI-driven platform to reduce dispute resolution times to as little as 45-60 days, compared to conventional methods. The companyโ€™s platform addresses the critical issue of delayed and costly legal resolutions. CADRE provides a comprehensive, tech-enabled dispute resolution solution with a streamlined legal workflow. It asserts that it has already processed nearly 8,000 cases across banking, securities, employment, and commercial disputes. The company plans to enhance its development of AI-based tools that improve transparency, accuracy, and user experience in dispute resolution. According to the Bengaluru-based company, it is entering both the South African and Australian markets, capitalizing on the surging demand for digital dispute resolution solutions. It has established a strategic partnership with Orington & Partners, an Australia-based consulting firm.

BlackSoil NBFC raises $12 Mn equity capital from existing backers

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BlackSoil NBFC raises $12 Mn equity capital from existing backers
Medial

Alternative credit platform BlackSoil NBFC, the flagship arm of BlackSoil Group, has raised equity of Rs 100 crore ($12 million) from its existing Indian investors and family offices through a rights issue. The capital injection will improve BlackSoil NBFCโ€™s credit profile and boost its borrowing capabilities and growth, the company said in a press release. BlackSoil is backed by investors and family offices of Allcargo Logistics, Navneet Education, Mahavir Agency, and Mathew Cyriac-led Florintree Advisors. This latest funding also marks BlackSoil NBFCโ€™s fourth capital infusion within eight years, bringing its total equity raise to approximately Rs 250 crore ($30 million). Additionally, it has secured debt financing of over Rs 1,700 crore (more than $200 million) from HNIs, banks et al. BlackSoil provides alternative credit solutions to growth companies, financial institutions, NBFCs and MSMEs across sectors. At the group level, BlackSoil has surpassed Rs 5,000 crore (over $600 million) disbursement across 214 deals by December 2023. Its portfolio includes ideaForge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Dunzo, Purplle, Mobikwik and Cure Foods. As per BlackSoil, its AUM grew around 30% year-on-year in 2023 and it deployed Rs 1650 crore (nearly $200 million) across 63 deals and exited from over 20 deals in the last year. The firm also said that its portfolio companies collectively raised equity of $800 million in the last year while three of them including Yatra, ideaForge and Cellecor got listed on the stock exchange in 2023.

Venttup raises seed funding from Unicorn India Venture

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Venttup raises seed funding from Unicorn India Venture
Medial

Venttup, a pioneering Industries 5.0 startup focused on building a global network of scalable engineering and capacities with India at its epicentre, has raised seed funding from Unicorn India Ventures. The funds will be used for accelerating business growth and technology development for Indigenisation Program Management, Venttup said in a press release. Founded by Sandeep Nair, M. Wasim Ankli, and Joseph Panakkal, Venttup aims to revolutionize the manufacturing landscape by uniting millions of manufacturing MSMEs on a single digital platform. By equipping these businesses with a supply chain, Venttup boosts operational efficiency. Venttup assists large enterprises in outsourcing their engineering needs while enabling them to reduce their carbon footprint through cloud manufacturing and sustainable practices. It offers localized production of critical engineering solutions and highly customized, complex components across the energy, EV, aerospace, and defense sectors. The company claims that it has achieved Rs 2 crore ARR and an order pipeline of Rs 20 crore since its launch in 2023. It aims to boost its revenue 5x in 12 months by securing at least 50 new clients.

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