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Saswat Finance raises $2.6 Mn led by Ankur Capital

EntrackrEntrackr · 1m ago
Saswat Finance raises $2.6 Mn led by Ankur Capital
Medial

Saswat Finance raises $2.6 Mn led by Ankur Capital Saswat Finance, a Mumbai-based fintech platform, has raised $2.6 million in its pre-Series A funding round led by Ankur Capital. Incubate Fund Asia, an existing investor, also doubled its investment in this round. The startup previously raised seed funding from investors like Seedstars VC, Sparrow VC, and Incubate Fund Asia. The proceeds will help Saswat expand its technology capabilities, introduce new financial products, and scale operations across Maharashtra, Karnataka, and Uttar Pradesh. The funding will also be used to enhance its data and analytics infrastructure and broaden its product portfolio. Founded in 2022 by Arun Tiwari, Indrajyoti Bhattacharjee, and Ravi Ranjan Chaudhary, Saswat Finance uses proprietary technology and alternative data, such as milk production and geographic trends, to enable efficient delivery of credit, insurance, and advisory services to underserved segments. “India’s rural segments — over 65% of the population — are underserved by traditional financial services. At Saswat, we blend technology and trust to bring financial services directly to their doorstep. This funding will help us deepen our reach and scale operations,” said Arun Tiwari, CEO of Saswat Finance. Saswat claims to have onboarded over 6,000 customers and disbursed more than Rs 55 crore in asset-backed loans.

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Redcliffe Labs raises $42 Mn in Series C round

EntrackrEntrackr · 10m ago
Redcliffe Labs raises $42 Mn in Series C round
Medial

Omnichannel diagnostics service provider Redcliffe Labs has raised $42 million in a Series C funding round led by Denmark-based investment firm IFU, which contributed $20 million. Existing investor LeapFrog added $15 million, while the remaining capital came from shareholders HealthQuad and Spark Growth Ventures. This new funding follows the Noida-based company’s previous rounds, including $61 million in its Series B in May 2022 and $10 million in Series A in April 2021. Other notable investors include Schroders, LC Nueva, Chiratae Ventures, and Alkemi Venture Partners. The fresh capital will fuel Redcliffe’s expansion plans, particularly in deepening its presence in tier II and III cities across India. The company plans to open more labs and collection centers and expand its home collection network, according to a press release. Redcliffe has executed strategic acquisitions in North-Western India and continues to pursue PAN-India expansion through partnerships and further acquisitions. In addition to its financial growth, Redcliffe has strengthened its leadership. Ankur Shah, former chief finance and strategy officer of Careem (acquired by Uber), has joined as an independent director. Alka Saxena, formerly of Health Care at Home and Dr. Lal PathLabs, has been appointed as CFO. Currently, Redcliffe Labs’ services are available in more than 220 cities across India through a network of 80 labs, over 2,000 collection centers, and home collection services. The company claims to have served more than 7 million patients across tier I, II, and III cities. Redcliffe Labs’ operating revenue surged 2.6 times to Rs 347 crore in FY23, up from Rs 130 crore in FY22. However, the company’s losses jumped fivefold to Rs 345.6 crore from Rs 67.7 crore over the same period. It competes with notable players such as PharmEasy-owned Thyrocare, Healthians, 1mg, and Dr. Lal PathLabs.

BPR Hub raises $2.6 Mn led by Accel and Kae Capital

EntrackrEntrackr · 5m ago
BPR Hub raises $2.6 Mn led by Accel and Kae Capital
Medial

BPR Hub raises $2.6 Mn led by Accel and Kae Capital BPR Hub, a San Francisco and Bengaluru-based AI-powered compliance management platform for manufacturers, has closed its $2.6 million seed funding round, co-led by Accel and Kae Capital. The funds will be used to scale globally, expand the team, and enhance product features to meet the rising demand for compliance management. Prominent angel investors in manufacturing also participated, positioning the company for rapid growth in India and North America. Founded in 2024 by Teja Edara (CEO), Milanjeet Singh (COO), and Vinodh Peddi (CTO), BPR Hub was created to address key challenges in compliance. With over a decade of experience in manufacturing and compliance, Milanjeet Singh's firsthand insights drove the development of a platform to streamline compliance management for manufacturers. BPR Hub's platform automates up to 80% of quality, compliance, and governance tasks, cutting certification time by 40%. It effectively tackles key challenges faced by small and medium manufacturers in a complex regulatory environment. Through automated evidence evaluation and continuous monitoring, BPR Hub helps companies fast-track certification – turning a process that typically takes months into one that takes weeks. The platform streamlines the management of overlapping certification requirements, eliminating duplication and ensuring nothing falls through the cracks. BPR Hub streamlines manufacturing by integrating quality assurance, production control, inventory, and asset management into a single platform. This ensures seamless compliance management, allowing teams to focus on growth.

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.

Superfone raises $1.9 Mn in pre-Series A round

EntrackrEntrackr · 7m ago
Superfone raises $1.9 Mn in pre-Series A round
Medial

Superfone, an all-in-one business phone and CRM app for SMBs, has raised $1.9 million in its pre-Series A funding round. The round was led by YourNest Venture Capital with an investment of $950,000, along with participation from Ankur Capital, Finsight Seed Fund, and a consortium of angel investors. The funding comes as part of the YourNest-SanchiConnect Velocity Program 2024, an accelerator initiative by YourNest and SanchiConnect to support high-growth startups. The Bengaluru-based company had previously raised $1.84 million from Ankur Capital and others back in July 2021. The proceeds will be used to acquire national-level telecom licences, strengthen its engineering and product teams with key senior hires, and scale its customer acquisition efforts to maximize its reach and impact, Superfone said in a press release. Co-founded in 2021 by Pradeep Dodle and Nikhil Goenka, Superfone aims to empower the landscape of business phone numbers by replacing traditional SIM cards with a fully app-based solution that integrates advanced tools such as CRM, lead management, WhatsApp marketing, and AI-powered agents. This approach addresses the critical communication and operational challenges faced by SMBs, empowering more than 10 million small businesses in India to accelerate growth, enhance customer engagement, and streamline operations. According to Superfone, it leverages a software-first approach to provide SMBs with a powerful, intuitive telecom platform that integrates communication, CRM, and marketing tools to drive growth and efficiency. The company plans to expand globally in the future, eyeing high-growth markets in Southeast Asia (SEA) and Latin America. Superfone claims that it has recently secured a Unified Licence (VNO) with Access Service for the Karnataka telecom circle and a Unified Licence (Audio Conferencing/Audiotex/Voice Mail Service) for Pan-India from the Department of Telecommunications (DoT).

Edtech startup MyCaptain raises Rs 14 Cr from IPV, others

EntrackrEntrackr · 1y ago
Edtech startup MyCaptain raises Rs 14 Cr from IPV, others
Medial

Edtech startup MyCaptain has raised Rs 14 crore (approximately $1.7 million) in a new round from Inflection Point Ventures, MyNavi, Piper Serica, Super Capital and Ankur Capital. Earlier to this round, the startup had raised $3 million in its pre-Series-A round led by Ankur Capital in January 2022. The fresh proceeds will be used to expand its hybrid programs into different cities, establishing over four regional sales centers. Additionally, the startup aims to enrich its course offerings, introducing new programs of over 50 beginner courses and five placement readiness programs. Co-founded by Mohammed Zeeshan, Sameer Ramesh and Ruhan Naqash, MyCaptain allows students to learn directly from young professionals, discover new career options and build practical skills through over 30 beginner to advanced live cohort-based courses. The startup claims to have crossed over 20,000 enrollments across its courses and will be ending with Rs 31 crore in booking revenue in FY23-24. It plans to reach 50,000 yearly enrollments in its courses and Rs 100 crore in bookings by FY25-26. The platform has trained more than 250,000 learners in careers across content, design, visual arts, finance, business and empowered them to become entrepreneurs, writers, designers, filmmakers, financial analysts, and more.

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