India Dealbook: Cornerstone backs two B2B startups; PURE EV gets funding

B2B tech startups, Wigzo and IntelligenceNode Consulting, and IIT Hyderabad-incubated PURE EV are among the latest startups that have raised funding.

Cornerstone Venture backs B2B startups

Cornerstone Venture Partners, established by former Reliance Industries executives, has invested $1 million each in two early-stage B2B tech startups, Wigzo and IntelligenceNode Consulting.

The VC firm, founded by Rajiv Vaishnav and Abhishek Prasad, has routed the investment through its first fund, it announced on Wednesday.

Singapore and New Delhi-based Wigzo Technologies provides cloud based AI solutions for marketers to enhance customer engagement and improve investments on marketing spends.

IIT Hyderabad-incubated PURE EV gets funding

Indian Institute of Technology Hyderabad-incubated startup PURE EV, which makes e-bikes and lithium batteries, has raised an undisclosed amount in funding from V.C.Nannapaneni, chairman and managing director Natco Pharma.

Nannapaneni has invested in the company in his personal capacity, pushing its valuation to $35 million.

PURE EV has also been developing a prototype of HVDC electric truck/ bus lithium battery modules and intends to showcase them in 2020 to potential collaborators. It is looking to ramp up its EV manufacturing capacity to 2,000 units per month by October 2019.