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.

Also Read:

India: BASIX Sub-K raises $5.4m from Accion, Nordic Microfinance, others

India: Impact investor Menterra invests in FarmFolks

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.