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PeLocal secures $2 million funding led by Unicorn India Ventures

Economic Times

Economic Times · 9m ago

PeLocal secures $2 million funding led by Unicorn India Ventures

Chennai-based payment solutions provider PeLocal has raised $2 million in a funding round led by Unicorn India Ventures. The startup enables ecommerce transactions through messaging platforms like WhatsApp and aims to scale its monthly transaction numbers from three million to 10 million in the next year. PeLocal plans to build a marketing catalogue and a dedicated small business payments platform on WhatsApp. The company's offerings have been adopted by clients such as Delhi Metro, Indraprastha Gas, and Mahanagar Gas, as well as multiple insurance companies. PeLocal previously raised $1 million in a seed round.

Related News

Proost, Swish, PeLocal, Theranautilus bag early-stage cheques

VCCircle

VCCircle · 9m ago

Proost, Swish, PeLocal, Theranautilus bag early-stage cheques

Proost, Swish, PeLocal, and Theranautilus have recently announced securing early-stage investments. Proost, a beer startup, raised $3.5 million in a Series-A round led by Chimes Group and Srinivasan Namala. Swish, a food-delivery startup, completed a seed funding round raising $2 million with participation from Accel, Urban Company founders, and Karthik Gurumurthy. Fintech startup PeLocal received $2 million in seed funding led by Unicorn India Ventures and plans to expand its payment services through WhatsApp. Theranautilus, a deep-tech startup, gained $1.2 million in seed funding led by pi Ventures for developing nanorobotic solutions for healthcare.

Unicorn India Ventures leads $2 Mn round in PeLocal

Entrackr

Entrackr · 9m ago

Unicorn India Ventures leads $2 Mn round in PeLocal

Fintech startup PeLocal has raised $2 million in a seed funding round led by Unicorn India Ventures. The Chennai-based company had previously raised $1.06 million in the same round from Future Monk Investments and others. The proceeds will be used to expand and enhance the platform and also help accelerate go-to-market strategies for rolling out large-scale projects, PeLocal said in a press release. Launched in 2021 by Vivekanand Tripathi, PeLocal is a payment solutions provider within WhatsApp, advancing digital transactions for clients like Delhi Metro, Indraprastha Gas, Mahanagar Gas, and insurance providers. The platform specializes in transit ticketing, utility payments, and financial services, delivering secure solutions across government and private sectors. It aims to empower secure and end-to-end solutions leveraging cutting-edge communication channels. PeLocal aspires to leverage technologies like WhatsApp for seamless, secure, and customer-centric transactions. It also bridges the gap between merchants and consumers, envisioning the idea of being ‘Vocal for Local.’ The company plans to go aggressively on payments in WhatsApp and further strengthen its leadership position in the payments solutions market. In the last 12 months, PeLocal claims to have grown from 500K monthly payment transactions to 3 million monthly payment transactions. The company aims to touch 10 million monthly payment transactions on WhatsApp in the next 12 months. It is planning to launch a Marketing Catalog on WhatsApp with payments and an SMB payments platform on WhatsApp. It competes with other players in the space like Yellow.ai, Gupshup, and others.

All Things Baby, Ikin Global, BitSave, DevX secure early-stage cheques

VCCircle

VCCircle · 9m ago

All Things Baby, Ikin Global, BitSave, DevX secure early-stage cheques

Indian companies All Things Baby, Ikin Global, BitSave, and DevX have secured early-stage funding. All Things Baby, a platform for mother and baby products, raised Rs 30 crore ($3.6 million) in a Series A funding round led by Inoventures and Richa Choksi. Ikin Global, an IoT smart lock brand, raised $1 million in a pre-Series A round, led by Unicorn India Ventures and Callapina Capital. BitSave, a crypto investment platform, secured an undisclosed amount in a pre-Series A round, led by Leo Capital. DevX, specializing in headless commerce solutions, secured pre-seed funding led by Avinya Ventures.

Medway Hospitals secures maiden funding from Kyra Ventures

VCCircle

VCCircle · 1y ago

Medway Hospitals secures maiden funding from Kyra Ventures

Chennai-based Medway Hospitals has raised $5 million in its first round of institutional equity funding led by Kyra Ventures. Family offices also participated in the funding round, although their names were not disclosed. The investment will be used to accelerate the hospital chain's expansion plans and reach a total of 1,000 beds by 2026. Medway Hospitals currently operates eight hospitals in Tamil Nadu and Andhra Pradesh, with a focus on providing quality healthcare in Tier 2 cities.

Probus, Healthfab, Agrilectric bag early-stage cheques

VCCircle

VCCircle · 6m ago

Probus, Healthfab, Agrilectric bag early-stage cheques

Probus, Healthfab, and Agrilectric have secured early-stage funding. Probus, focused on smart grid technologies, raised $5 million in a Series A round led by Unicorn India Ventures. Healthfab, known for reusable period panties, raised $1 million in a pre-Series A led by Mistry Ventures. Agrilectric secured $100,000 for developing electric-powered farming solutions. These firms aim to utilize the funds to enhance product development, market reach, and technological advancements in their respective sectors.

Sportstech Platform KheloMore Raises $2 Mn in Funding

Inc42 · 1y ago

Sportstech Platform KheloMore Raises $2 Mn in Funding

Indian sportstech startup KheloMore, with 500,000 users, has raised $2 million in a Pre-Series A funding round. The funding will be used to expand its platform into new cities and launch cricket academies. KheloMore offers AI-powered coaching and venue bookings, aiming to make sports more accessible in India. The investment was led by Clear Bridge Ventures and Ashwin Damera, founder of edtech unicorn Eruditus. The startup plans to expand into cities like Delhi, Ahmedabad, and Rajkot, and establish a network of training centers.

Metafin, three others raise early-stage funding from multiple VCs

VCCircle

VCCircle · 1y ago

Metafin, three others raise early-stage funding from multiple VCs

Cleantech-focused non-bank financial company Metafin has raised $5 million in a funding round led by Prime Venture Partners and Varanium Capital. Metafin plans to utilize the funds to expand its presence across states, grow its loan book, improve technology, IoT stack, and hire talent. Cashinvoice, a supply chain finance platform, raised $3.4 million in a Series A funding round from investors including Pravega Ventures and HDFC Bank. Healthtech startup Piscium and home care brand Koparo also secured early-stage funding. Piscium raised $722,994 in a Series A round led by Unicorn India Ventures, while Koparo raised the same amount in a funding round led by 4P Capital Partners.

Waterfield Advisors secures $18 million from Jungle Ventures in primary-secondary mix

Economic Times

Economic Times · 6m ago

Waterfield Advisors secures $18 million from Jungle Ventures in primary-secondary mix

Waterfield Advisors, a wealth advisory firm, raised $18 million in a funding round led by Jungle Ventures, comprising $15 million in primary capital and $3 million to buy out existing investors. The funds will enhance technology, expand their presence in key financial hubs, and improve client engagement. With advisory services on $5 billion in assets, the firm aims to reach founders, professionals, and women, including India's tier-2 and tier-3 cities and international markets.

Sugar.fit secures additional $5M in Series A

Inshorts · 1y ago

Sugar.fit secures additional $5M in Series A

Healthtech startup Sugar.fit has secured an additional $5 million in Series A funding led by B Capital, bringing the total funding raised in the round to $16 million. Existing investors MassMutual Ventures, Tanglin Venture Partners, Endiya Partners, and Cure.Fit also participated in the round.

Fixed asset investment platform Tap Invest secures $2 million funding

Economic Times

Economic Times · 1y ago

Fixed asset investment platform Tap Invest secures $2 million funding

Tap Invest, a fixed asset investment platform, has raised $2 million in its seed round of funding. The funding was led by Snow Leopard Ventures and included participation from angel investors such as Kunal Shah, founder of Cred. Tap Invest offers fixed income investment opportunities, allowing investors to participate in asset leasing and invoice discounting. The company plans to use the funds to expand its market presence, pursue growth, and diversify its range of services in the debt investment space.

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