India Dealbook: BASIX Sub-K, Khidki, Prolive, Menterra Ventures in funding news

While fintech firm BASIX Sub-K, social content platform Khidki and health food startup Prolive have raised funds, impact investor Menterra Ventures has invested $2 million in tech-enabled startups.

BASIX Sub-K raises $3.1m more in Series B round

Hyderabad-based fintech firm BASIX Sub-K iTransactions Ltd on Thursday said it has raised an additional Rs 22 crore ($3.1 million) in its Series B round of funding.

According to an official statement, the funding came from its existing investors Accion, Nordic Microfinance Initiative (NMI), and Michael & Susan Dell Foundation.

The startup had initially raised Rs 35 crore in March this year. Cumulatively, the company has raised Rs 57 crore in its Series B round.

“The company will deploy the fresh capital to expand its reach, strengthen technology capabilities and fintech expertise, and to launch innovative digital financial services targeting low-income clients,” it said.

Basix Sub-K currently claims to provide affordable financial services, including loans, basic banking services, and payments to more than 2.2 million customers across the country.

Social content platform Khidki raises funds from Axilor, others

Regional social content platform Khidki has raised an undisclosed amount in a funding round led by Axilor Ventures.

According to a report in The Economic Times, the latest round also saw participation from Astarc Ventures, Gemba Capital, Purple Patch Ventures and Lets Venture.

The Bengaluru-based startup plans to use the capital raised for expanding into other states and enhancing its existing product. Khidki currently boasts over 400,000 users in Gujarat and recently forayed into Madhya Pradesh and Rajasthan.

Mumbai Angels backs Prolive

Mumbai Angels have invested in Nutrisattva Foods Pvt. Ltd, which produces protein-based functional foods under the Proliva brand.

The financial details of the investment were not disclosed.

Proliva, which also counts BCCL as an investor, focuses on developing customised protein-based functional foods for individuals across age groups, nutritional needs, and lifestyles.

“Together, Nutrisattva and MA Network aim to increase brand awareness and boost distribution for Proliva,” said MA Network CEO & MD Nandini Mansinghka.

Menterra invests $2m in healthtech, edtech startups

Menterra Social Impact Fund has invested a total of $2 million in healthtech startups Omix Labs and Adiuvo Diagnostics and edtech startup Stones 2 Milestones.

The company, along with its partner Artha, is also assessing opportunities for an investment, including a pre-Series A round, for an agtech company, Menterra said in a release.

Following these investments, Menterra has a portfolio of 10 companies. It is nearing a complete deployment of its first fund.

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