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Skilling platform FinX mops up $6 million in round led by Elevar Equity

Economic Times

Economic Times · 1y ago

Skilling platform FinX mops up $6 million in round led by Elevar Equity

Indian skilling platform FinX has raised $6m in a funding round led by Elevar Equity. The funds will be used to expand its offerings and geographical reach, as well as diversify into IT training. Launched in 2019, the edtech platform currently provides vocational courses in the banking, financial services, and insurance (BFSI) sector. The company plans to partner with universities and colleges to offer finance-focused vocational courses and joint degree programmes. It also aims to expand into the IT industry and make strategic acquisitions of skilling and training firms in the finance and technology sectors.

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Elevar Equity-backed FinX buys BSE's financial education arm

VCCircle

VCCircle · 10m ago

Elevar Equity-backed FinX buys BSE's financial education arm

FinX, an Elevar Equity-backed skilling platform, acquired BSE Institute, the financial education arm of BSE, for Rs 16.9 crore. This acquisition aims to strengthen FinX's presence in the BFSI education sector, expanding its program offerings and training infrastructure. FinX, founded in 2019, has trained over 50,000 students alongside BSE Institute. The merged entity aims to reach over 100,000 learners annually, offering extensive programs and partnerships with over 70 BFSI companies.

SarvaGram Bags INR 565 Cr To Expand Its Lending Play

Inc42 · 1y ago

SarvaGram Bags INR 565 Cr To Expand Its Lending Play

SarvaGram, a lending tech startup, has raised INR 565 Crores ($67 million) in a Series D funding round led by Peak XV Partners. Existing shareholders, including Temasek, Elevar Equity, TVS Capital, and Elevation Capital, also participated in the round. The funding brings SarvaGram's total funding to INR 950 Crores.

Curebay raises $7.5 Mn from Elevar Equity

Entrackr

Entrackr · 2y ago

Curebay raises $7.5 Mn from Elevar Equity

Health-tech platform Curebay has raised Rs 61.8 crore ($7.5 million) in an extension of its Series A round, led by existing investor Elevar Equity. Curebay aims to make healthcare accessible to small towns and villages through its technology-enabled platform and network of e-clinics. The Chennai-based company was valued at around Rs 450 crore ($55 million) post-allotment. Curebay's revenue from operations stood at Rs 63 lakhs during FY23, with losses of Rs 15.95 crore in the last fiscal year.

Health-tech startup CureBay raises $21 million in round led by Bertelsmann India

Economic Times

Economic Times · 10m ago

Health-tech startup CureBay raises $21 million in round led by Bertelsmann India

CureBay, a tech-first hybrid healthcare platform from Odisha, raised $21 million in a funding round led by Bertelsmann India Investments, with British International Investment and Elevar Equity participating. Founded in 2021, CureBay aims to expand its network of 150 e-clinics across rural India, reaching states like Jharkhand, Bihar, and Uttar Pradesh. The funding will enhance its technology, AI, and data capabilities, supporting its mission to provide affordable healthcare in underserved areas.

Cloudphysician raises $10.5 million in funding round led by Peak XV Partners

Economic Times

Economic Times · 1y ago

Cloudphysician raises $10.5 million in funding round led by Peak XV Partners

Healthcare technology provider Cloudphysician has secured $10.5m in a funding round led by Peak XV Partners. The Indian start-up plans to use the funds to expand its presence in the country and overseas, as well as further develop its artificial intelligence (AI) platform. Cloudphysician partners with hospitals to provide AI-driven intensive care unit (ICU) and emergency department support. The company currently manages 2,400 ICU beds across 230 hospitals in India and aims to capture 10% of the market. The funding round also involved participation from Elevar Equity and Panthera Peak.

SarvaGram In Talks With Peak XV, Apis Partners & Others To Raise $50 Mn Funding

Inc42 · 1y ago

SarvaGram In Talks With Peak XV, Apis Partners & Others To Raise $50 Mn Funding

SarvaGram, an Indian fintech startup, is currently in talks to raise a new funding round with a projected valuation of $170 million to $200 million. The round is expected to be led by venture capital firms Peak XV, Apis Partners, Beams Fintech Fund, and Creation Investments Capital Management LLC. In the previous year, SarvaGram successfully raised $35 million in a Series C funding round with participation from Elevar Equity, Elevation Capital, Temasek, and TVS Capital Funds.

Fintech Niro in talks for pre-Series B funding, eyes valuation bump

VCCircle

VCCircle · 2y ago

Fintech Niro in talks for pre-Series B funding, eyes valuation bump

Bengaluru-based consumer fintech startup Niro is in talks to secure pre-Series B funding at a higher valuation than before. The company, backed by Elevar Equity and GMO Ventures, is an embedded lending platform. It is currently raising funds for its pre-Series B funding round.

Decoding SarvaGram’s Series D round, valuation and captable

Entrackr

Entrackr · 9m ago

Decoding SarvaGram’s Series D round, valuation and captable

SarvaGram raises Rs 565 Cr ($67 Mn) in Series D round led by Peak XV, with the participation from existing investors Elevation, Elevar, Temasek, and TVS Capital. Rural-focused credit startup SarvaGram announced its Rs 565 crore (approximately $67 million) Series D funding round led by Peak XV Partners, along with the participation of existing investors Elevation Capital, Elevar Equity, Temasek, and TVS Capital. Entrackr has gone through its regulatory filing to decode the details such as round breakup, shareholding, and current valuation. In November last year, SarvaGram’s board approved the allotment of 21,857 Series D CCPS and 20 equity shares at a price of Rs 2,51,431.22 each to raise Rs 550 crore (approximately $65.2 million). With the prior Rs 15 crore allotment, the total funding round stood at Rs 565 crore ($67 million), as per filings with the Registrar of Companies (RoC). Peak XV Partners spearheaded the round with an investment of Rs 340 crore ($40.3 million), followed by existing backers Elevation Capital and Elevar Equity, who contributed Rs 80.76 crore ($9.58 million) and Rs 68 crore ($8 million), respectively. Temasek and TVS Capital participated with Rs 45.48 crore ($5.4 million) and Rs 30.78 crore ($3.6 million). According to Entrackr’s estimates, SarvaGram’s valuation soared 2X to Rs 1,785 crore ($212 million), which stood at Rs 790 crore ($94 million) during its previous $35 million Series C round. Founded in 2019 by Utpal Isser and Sameer Mishra, SarvaGram offers a range of credit products to rural households, including business, farm, personal, home, and gold loans. The company also provides insurance and farm mechanization services through its SarvaMitra network, giving rural users affordable access to high-quality equipment such as cultivators, rotavators, and harvesters. According to the company’s website, it has served over 1.5 lakh households and more than 170 shops, along with 630+ SarvaMitra franchises spread across over 38,000 villages. According to startup data platform TheKredible, SarvaGram has raised over $116 million across multiple funding rounds. Following the latest injection, Elevar Equity is the largest external stakeholder with 23.78%, followed by Peak XV Partners and Elevation Capital, which command 19.05% and 18.40% respectively. Co-founders Utpal Isser and Sameer Mishra retain 11.00% and 7.05% stakes in the company. The Pune-based fintech company reported 2.3X year-on-year growth in its operating revenue to Rs 170 crore during the fiscal year ended March 2024, while it managed to narrow its losses by 30% to Rs 19.75 crore during the same period. SarvaGram competes with Jai Kisan, which last raised $50 million in a Series B round in July 2022. Another rival, agri-fintech startup Arya.ag, secured $30 million in debt funding in January.

Lumikai leads $1.5 Mn seed round in NPrep

Entrackr

Entrackr · 10d ago

Lumikai leads $1.5 Mn seed round in NPrep

NPrep, a placement-focused company building an AI-powered skilling platform for nursing students and professionals, has raised $1.5 million in a seed funding round led by Lumikai. The round also saw participation from existing investor All In Capital, along with Velo Partners, DSP Group Family Office, and angel investors including Viren Shetty. The Jodhpur-based startup had previously raised an undisclosed amount in a pre-seed funding round led by All In Capital, with participation from IIMA Ventures, Chegg founder Aayush Phumbhra, and several family offices and angel investors. The fresh funds will be utilised to ramp up its AI-powered learning platform, expand exam-focused content, and reach more nursing candidates across India preparing for government and global healthcare roles, NPrep said in a press release. Co-founded in 2024 by Prince Kaushik, Utkarsh Paliwal, and Gourav Khurana, the startup aims to address the barriers faced by students from tier II and tier III cities by offering an AI-powered skilling and placement platform tailored to the specific needs of nursing students and professionals. According to NPrep, it addresses the systemic gap in nursing education by delivering over 1,400 hours of exam-aligned original video content along with personalised study plans. An AI mentor, curated questions from historical exam data, and individual performance tracking are designed to improve exam outcomes and help candidates access government jobs and global roles. Within 10 months, NPrep says that over 1,00,000 nurses in India are already using its platform, with more than 6 million minutes of video content consumed and 31 million questions answered.

Peak XV Partners leads ₹565-crore investment in rural credit startup SarvaGram Solutions

Livemint

Livemint · 1y ago

Peak XV Partners leads ₹565-crore investment in rural credit startup SarvaGram Solutions

Pune-based credit platform SarvaGram Solutions has raised ₹565 crore in a Series D funding round led by Peak XV Partners. SarvaGram plans to use the funds to expand its credit products business to more regions across India. Existing investors Temasek, Elevar Equity, Elevation Capital, and TVS Capital also participated in the round, bringing the company's total funding to ₹950 crore. SarvaGram offers loans, insurance, and farm mechanization services to households in rural areas, using technology to select the right products and disburse loans.

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