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.

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.