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CirclePe raises close to $1 Mn in pre-seed round

EntrackrEntrackr · 1y ago
CirclePe raises close to $1 Mn in pre-seed round
Medial

Fintech startup CirclePe has raised close to $1 million in its pre-seed round led by OTP Ventures, with participation from 1947 Rise, iSeed, IIT Delhi, Venture Catalyst, and founders and CXOs from OfBusiness, BharatPe, Uni Cards, OYO, and others. Led by Navan Jaiswal and Ankur Yadav, CirclePe’s ‘Smart Renting’ solution allows credit-worthy tenants to opt for a zero security-deposit move-in, enjoying the luxury of paying only their monthly rent without any extra charges. By partnering with major proptechs, CirclePe is enabling the smart renting feature for independent retail landlords and co-living operators, providing an easy and hassle-free rental experience. By eliminating the need for heavy security deposits paid by tenants and unlocking capital for landlords and co-living operators, CirclePe aims to disrupt the traditional rental value chain. Suhail Sameer, who is the former CEO of BharatPe, is serving venture capital firm OTP Venture as managing partner. As per a media report, OTP Ventures is also looking to close its debut fund at Rs 400 crore by June.

Beauty brand Asaya raises $1.5 Mn from OTP Ventures and others

EntrackrEntrackr · 1y ago
Beauty brand Asaya raises $1.5 Mn from OTP Ventures and others
Medial

Premium skincare brand Asaya has raised Rs 12 crore ($ 1.5 million) in Seed funding round led by OTP Ventures and Huddle Ventures, with additional investments from Eternal Capital. The funds will be allocated towards melanin-centric research and developing more products that cater to melanin-specific needs, the company said in a press release. Part of the funding will also be utilised to enhance market reach. Launched in September 2023 by Neeraj Biyani (former Co-founder of Paper Boat), Mandeep Bhatia, and Eeti Sharma, Asaya has rapidly expanded its sales and customer base, retailing through its website and online retail platforms like Nykaa, Amazon, Flipkart, and Myntra. Currently, it claims to have more than 11 products and 23 SKUs. According to Biyani, this funding will help us go from 20,000 to over 250,000 consumers in the next 12 months. Suhail Sameer, who is the former CEO of BharatPe, is serving venture capital firm OTP Venture as managing partner. As per a media report, OTP Ventures is also looking to close its debut fund at Rs 400 crore by June. The firm recently led $1 million round in CirclePe.

Former BharatPe CPO Ankur Jain to launch new startup Jivi.ai

EntrackrEntrackr · 1y ago
Former BharatPe CPO Ankur Jain to launch new startup Jivi.ai
Medial

Ankur Jain, the former chief product officer of fintech company BharatPe, is set to launch his new startup in the field of AI healthcare, sources aware of the development told Entrackr. “Ankur Jain’s Jivi.ai is expected to go live with its public launch this month,” said one of the sources requesting anonymity. “The founding team consists of professionals and research scholars from Stanford, MIT, Harvard, and Yale.” Jain left BharatPe in July last year after serving more than three years at the company where he was responsible for the complete product life cycle and innovation. Entrackr had exclusively reported the development. Jivi.ai will be the second startup for Jain who also co-founded travel tech startup Instalocate. “Jivi.ai is leveraging artificial intelligence, digital health, large language models, machine learning, and generative AI to transform primary healthcare,” said another source. As per sources, version one of Jivi.ai is anticipated to launch in India and the US. “It has partnered with over 100 doctors, physicians, and hospitals in India in the last 3 months,” sources added. Sources further said that Jivi.ai has also closed initial seed funding and is in discussions to close the next round soon. Queries sent to Jain did not elicit any response. We’ll update the post in case he responds. Growing BharatPe mafia After, Flipkart, Paytm, PayPal and others, now there’s a growing BharatPe mafia. Genwise was launched by former BharatPe’s executives Rajat Jain, Geetanshu Singla and Nehul Malhotra, raised money in April last year. Entrackr exclusively reported the development. Third Unicorn, floated by former BharatPe co-founder and MD Ashneer Grover and his wife Madhuri Jain, launched fantasy sports platform CrickPe. Third Unicorn is also on the verge of launching another fintech startup ZeroPe. Bhavik Koladiya, another co-founder of the company, joined SaaS startup OTPless as CEO. Suhail Sameer, who served as CEO of BharatPe, is handling venture capital firm OTP Venture as managing partner.

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