India Dealbook: CropIn, Skillbox, Yaantra, Genius Corner, MergerWare raise funds

Photo: Bloomberg

CropIn, Skillbox, Yaantra, Genius Corner, and MergerWare are among the latest Indian startups to raise funds.

CropIn raises $8m from Chiratae, others

Agri-tech startup CropIn Technology Solutions Pvt Ltd has raised Rs58 crore ($8 million) in a Series B funding round from Chiratae Ventures (formerly IDG Ventures India) and the Bill & Melinda Gates Foundation Strategic Investment Fund. The Bengaluru-based startup plans to use the funds to expand the reach of its SmartFarm technology platform both in India and overseas. It also plans to further develop its machine-learning-based SmartRisk platform that helps detect crops and predict yields at the plot level using satellite images. CropIn has so far raised a total of $12 million in funding.

Skillbox bags seed funding

Gurugram-based art social network and discovery startup Skillbox on Monday announced that it has raised an undisclosed amount in seed funding from US-based angel investor Sandip Ranjhan. Founded in 2016 by Anmol Kukreja, Ravi Pardhi and Nitish Bhardwaj, the platform helps artists including, musician, bands, photographers, designers and sketch artists connect with enthusiasts and businesses. The startup plans to utilise the funds to scale and strengthen the product and in marketing.

Anicut invests $2m in Yaantra

Delhi-based smartphone refurbishing and resale platform Yaantra has raised around $2 million (Rs 15 crore) in venture debt from alternative investment firm Anicut Capital, TechCircle reported. Anicut has made the investment by subscribing to the startup’s non-convertible debentures. Yaantra will use the capital raised to expand its market and for its working capital needs. The startup raised $3.1 million in its fourth round of funding from existing investors, private equity fund Carpediem Capital and family office Duane Park, in October last year.

Angel investors back Genius Corner

Edtech startup Genius Corner has raised Rs 2 crore in an angel round of funding from a clutch of angel investors including Ranbir Singh, Mahesh Mohta, Lakshmikantan Sundereswaran, Dipak Varshney, and Puneet Garg. The startup will use the funds for expansion and to augment its machine learning programs. Launched in 2014, Genius corner claims to have helped more than 50000+ students across country to raise the academic level.

MergerWare gets pre-Series A funding

MergerWare, which provides software solutions to aid integration related to mergers and acquisitions (M&A), has raised an undisclosed amount in pre-Series A funding from Mori Beheshti, global vice-president of M&A at electric equipment maker Schneider Electric, and Philippe Bouchet, CEO of baggage and freight inspection firm Visiom, TechCircle reported. The startup will use the funds to accelerate growth in the US market. Besides, the firm plans to double its headcount for research & development, marketing and sales, the report added.

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