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Piper Serica Angel Fund leads $1 Mn round in DesignX

EntrackrEntrackr · 7m ago
Piper Serica Angel Fund leads $1 Mn round in DesignX
Medial

Shopfloor hyper-automation company DesignX has raised $1 million in a pre-Series A funding round led by Piper Serica Angel Fund. The Noida-based company previously raised $300,000 in equity from Modular Capital, Accel, and select manufacturing industry investors in 2021. According to a press release, the new funds will be used to expand its Df-OS platform in key markets, including APAC, Japan, and Europe, as well as to achieve lighthouse status by focusing on AI-driven analytics and sustainability. Co-founded in 2015 by Rajat Srivastava and Nishant Srivastava, DesignX specializes in hyper-automation for manufacturing shop floors. Its flagship Df-OS platform helps lighthouse factories improve productivity and sustainability through real-time data analytics, benefiting sectors such as automotive, FMCG, and consumer electronics by reducing waste and lowering carbon footprints. DesignX aims to transform manufacturing with minimal infrastructure investment, drawing parallels to the transformative impacts of UPI and 4G technologies. The Df-OS platform addresses outdated processes and inadequate infrastructure by significantly reducing the time and cost associated with modernizing factory processes, allowing manufacturers to adapt quickly to contemporary demands. According to market research, the factory process application market is experiencing substantial growth, currently valued at approximately $34 billion annually. DesignX claims to have partnered with major industry players such as Unilever, Hero MotoCorp, and Dabur. Over the last three years, it reports having digitized over 10,000 processes across more than 500 factories, connecting over 1,400 machines in real time and securing over 405 customers.

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Rupeeflo raises $1 Mn from Piper Serica

EntrackrEntrackr · 4m ago
Rupeeflo raises $1 Mn from Piper Serica
Medial

Rupeeflo raises $1 Mn from Piper Serica Fintech startup Rupeeflo has raised $1 million in funding in a pre-seed round led by Piper Serica Angel Fund. Fintech veterans including Ravi Shankar (co-founder of Active AI), Kishore Natarajan, and Kedar Kulkarni (co-founder of Hyperverge) also participated in the maiden round. Rupeeflo will use the funding to roll out a full-stack NRI investment platform, introduce instant UPI access, and expand its global presence. Founded in 2024 by Dharmendra Maurya, Ashish Jha, and Manav Bharambe, Rupeeflo streamlines banking and investing for NRIs in India. Starting with the U.S. and U.K., it aims to expand across global NRI hubs. With Rupeeflo, NRIs can now digitally apply for an NRE/NRO account in less than 10 minutes and have easy and paperless access to stock markets, mutual funds, and index funds without regulatory headaches. “We see this as one of the biggest untapped opportunities in fintech. In the USA alone, NRIs have over $300 billion in low-yield savings overseas because investing in India has been too complex. We are fixing the problem so that they can participate in India's future instead of just watching from the sidelines,” said Ashish Jha. Piper Serica is an asset manager investing in India’s public and private markets. It manages a SEBI-registered PMS, advises a Mauritius-based offshore fund, and runs the Piper Serica Angel Fund for early-stage startups, overseeing over Rs 1,000 crore in assets.

Healthcare and insurtech startup FlashAid raises $2.5 Mn

EntrackrEntrackr · 1y ago
Healthcare and insurtech startup FlashAid raises $2.5 Mn
Medial

Healthcare and insurtech firm Flashaid has raised $2.5 million in its pre-Series A funding round led by Piper Serica Angel Fund and global venture capital firm SOSV. Early-stage investors —Z21 Ventures Fund and ZNL Growth Fund also participated in this round. The proceeds will be used for growth and expansion to six new cities, the company said in a press release. Founded by Manoj Gupta and Gunjali Kothari, Flashaid offers a full-stack health solution with proprietary pre-underwritten products, open APIs, and embedded solutions. Formerly known as EasyAspataal, Flashaid is building an API-first health cover to make health insurance affordable and accessible to common people. It is developing a distinctive channel for retail health plan distribution via a B2B2C platform. Over the last year, the firm claims to have partnered with over 20 platforms to distribute 30,000 health covers and is profitable at the EBITDA level. Currently, it has an ARR (annual run rate) of $1 million and is expected to grow to $10 million ARR in the next two years.

Astrogate Labs raises $1.3 Mn led by Piper Serica

EntrackrEntrackr · 4m ago
Astrogate Labs raises $1.3 Mn led by Piper Serica
Medial

Astrogate Labs raises $1.3 Mn led by Piper Serica Spacetech startup Astrogate Labs has secured $1.3 million in its pre-Series funding led by Piper Serica Angel Fund. The proceeds will be used to accelerate further the development of its laser communication terminals for space and additional use cases in terrestrial and airborne applications, scale operations, and strengthen partnerships with space agencies and defense organizations. Founded by Nitish Singh, Yogeshwaran J, and Subhajit Chakraborty, Astrogate Labs provides technology to improve data downlink for small satellite constellations, helping them transmit data more efficiently to the ground. With over 25,000 small satellites expected to be in orbit by 2030, current radio frequency systems face severe bandwidth limitations and spectrum congestion. Astrogate's laser communication solutions claim to provide a scalable alternative for high-speed up to 10 Gbps, secure data transmission. Astrogate Labs has also received recognition for its technology innovations including DRDO Dare to Dream 4.0 and graduated from the Seraphim Space Accelerator APAC Program in 2023. The Bengaluru-based company has been backed by Speciale Invest, SatSure and Anicut Capital, who provided early funding to support the development of its innovative technology.

Startup news and updates: Daily roundup (November 12, 2024)

YourStoryYourStory · 7m ago
Startup news and updates: Daily roundup (November 12, 2024)
Medial

StampMyVisa, an AI-powered visa processing platform, has raised Rs 6.6 crore in funding from Unicorn India Ventures. The company plans to use the capital to enhance its AI capabilities, introduce innovative services to manage international travel and visa processes, and expand its geographical footprint in India. DesignX, a manufacturing startup, has raised $1 million in pre-Series A funding from Piper Serica Angel Fund. The startup focuses on hyper-automation for manufacturing shop floors and aims to enhance productivity and sustainability through real-time data analytics. India IVF, a tech-enabled fertility platform, has secured $1.25 million in pre-Series A funding from Tomorrow Capital. The funding will support the company's expansion across North India and enable it to provide improved access to fertility care. Animation and VFX studio 88 Pictures has launched a gaming division called 88Games to bring Indian history and culture to the gaming industry. IT solutions provider Mphasis has appointed Mike Meyer as head of strategic sales to drive closure on large and strategic deals. IIT Madras's eXperiential Technology Innovation Centre (XTIC) is launching the 'XTIC-Academic Partnership Program' to support the growth of the XR sector in India and create highly-trained XR developers and designers for the global market.

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