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iTuring raises $5 Mn in Series A round led by Dallas Venture and Mela Ventures

EntrackrEntrackr · 5m ago
iTuring raises $5 Mn in Series A round led by Dallas Venture and Mela Ventures
Medial

iTuring raises $5 Mn in Series A round led by Dallas Venture and Mela Ventures iTuring.ai, an enterprise-grade AI/ML platform for the Banking, Financial Services & Insurance (BFSI) sector, has raised $5 million in Series A funding round led by Dallas Venture Capital (DVC) and Mela Ventures. Prior to this, the company had raised $1.19 million in the same round co-led by SenseAI and Pentathlon Ventures along with participation from Ghosal Ventures. The proceeds will be used to accelerate the rollout of its proprietary, zero-code platform, which enables banks and insurers to automate every stage in the deployment of data science and machine learning. Co-founded in 2018 by Suman Singh, Amit Kumar, Mohammed Nawas and Srivalsan Ponnachath, iTuring.ai streamlines the entire lifecycle of data science and machine learning, enabling organizations to rapidly develop, deploy, manage, govern, and operationalize AI applications at scale. The company aims to deliver transparency, accountability, compliance, and reliability across every phase of model development, deployment, and operation. iTuring addresses the sector’s complexity by integrating advanced automation for data preparation, feature engineering, model development, deployment, and ongoing monitoring - all within a unified environment that meets the sector’s demanding regulatory and audit requirements. “Our vision from day one was to empower financial institutions to automate the full lifecycle of AI model development, deployment, and governance with a transparent, explainable, and audit-ready solution,” said Suman Singh, founder & CEO of iTuring. The company states that it delivers its AI/ML platform to clients across India, South Africa, and the United States. In the US, it has established a strategic partnership with one of the world’s leading payment platforms, enabling them to drive customer revenue growth and realize significant cost savings. iTuring claims that its clients in the BFSI sector have reported rapid project delivery and significant reductions in manual effort, with measurable gains in predictive performance.

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Bluecopa raises $1.8 Mn in pre-Series A round

EntrackrEntrackr · 1y ago
Bluecopa raises $1.8 Mn in pre-Series A round
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Finance operations (FinOps) automation platform Bluecopa has raised $1.8 million in a pre-Series A funding round co-led by Blume Ventures, Dallas Venture Capital, and Venture Catalysts. The proceeds will be utilized to expand market reach, enhance AI capabilities, and advance product development, Bluecopa said in a press release. Co-founded in 2021 by Nilotpal Chanda, Raghavendra Reddy, and Satya Prakash Buddhavarapu, Bluecopa leverages AI and data analytics to enable the office of the CFO to drive efficiency through autonomous financial processes. It offers a comprehensive solution for modern finance teams and its cloud-native platform, powered by AI, provides a unified solution for finance teams, streamlining operations and improving efficiency. According to market research, the global market of FinOps is more than $40 billion. Bluecopa claims that its solution provides value to finance leaders from major industries like eCommerce, financial services, travel, logistics, and gaming. The company has added several prominent customers in the last 12 months.

InstaAstro raises $2.3 Mn led by Artha Venture Fund

EntrackrEntrackr · 1y ago
InstaAstro raises $2.3 Mn led by Artha Venture Fund
Medial

Online astrology platform InstaAstro has raised Rs 18.50 crore in its pre-Series A round led by Artha Venture Fund. The round also saw participation from LogX Ventures, Singularity Ventures, IR Capital Partners, Blume Founders Fund and Aloke Bajpai, MD & CEO of Ixigo. In November 2021, InstaAstro had raised Rs 3.2 crore in a seed round led by Artha Venture Fund along with Ramakant Sharma’s LogX Ventures. With fresh funds, InstaAstro is launching new spiritual e-commerce, daily pooja, and reiki healing services. As per the company, these offerings would deepen the platform’s user engagement and provide access to a comprehensive spiritual and astrological guidance ecosystem. Founded by Nitin Verma, InstaAstro claims to have over 200,000 monthly app installs, 50,000 minutes per day in consultations, and an ARR of $5 million. It offers horoscopes, tarot readings, and numerology in English, Hindi, and various regional languages. The startup has a total user base of over 5 million users and provided a cumulative consultation of more than 2 crore (20 million) minutes to its subscribers in FY24. The firm has 1,500 astrologers on its platform. It competes with GaneshaSpeaks, AstroTalk, Click Astro, and Bodhi. In the past 12 months, a clutch of astro and spiritual tech startups raised funds. The list included AstroTalk, Vama, Utsav, DevDham (previously DevDarshan), and Melooha. As per Entrackr’s sources, Bodhi is also in talks to raise a new round. AstroTalk had raised the largest funding ($20 million) among the astro and spiritual tech startups.

CapGrid Solutions raises $5 Mn led by Anicut Capital

EntrackrEntrackr · 11m ago
CapGrid Solutions raises $5 Mn led by Anicut Capital
Medial

CapGrid Solutions raises $5 Mn led by Anicut Capital B2B manufacturing startup CapGrid Solutions has raised $5 million (around Rs 45 crore) in a funding round led by Anicut Growth Fund. The round also saw participation from existing investors Nexus Venture Partners and Axilor Ventures. Earlier in January 2023, CapGrid had raised $7 million led by Nexus Venture Partners. The round closed at a valuation of Rs 305 crore after the investment, according to an ET report. The proceeds will be used for global expansion and investments in technology to improve supply chain and operational efficiencies. Founded in 2020 by Tiwari and Himanshu Singh Raghuvanshi, CapGrid helps car part makers and suppliers by making it easier to find and buy the materials they need. It helps OEMs procure precision parts and components from suppliers that it has tied up with. CapGrid currently operates around 11 fulfilment centres and has 50 strategic supply manufacturing partners. The Gurugram-based startup claims to have recorded a revenue of around Rs 99 crore in the last fiscal year and expects to reach Rs 220 crore in FY25.

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