India Dealbook: Das, Gunosy back Faircent; Chiratae to invest in Emotix; Tjori raises $700k

Photo: Mint

In the latest funding deals, Faircent has raised an undisclosed amount led by Singapore-based Das Capital and Gunosy Capital while Emotix is raising about $7.5 million in a Series A round. Separately, Tjori has raised $700,000 from a clutch of investors.

Faircent raises funding from Das Capital, Gunosy

P2P lending platform Faircent has raised an undisclosed amount in funding led by Singapore-based Das Capital and Gunosy Capital.

The round also saw participation from existing investors Starharbor Asia Pte Ltd, and M&S Partners Pte Ltd (Sin Growth Partner Pte Ltd). Faircent will utilise the funds to strengthen the platform’s technology, expand distribution and to add unique loan offerings for its lenders.

Faircent founder and CEO Rajat Gandhi said, “Currently, loan origination on the platform is at an annualized rate of Rs 600 crore. With support from our marquee investors, we will focus on taking financial inclusion to every part of India while delivering on the expectations of all our stakeholders.”

Chiratae Ventures leads funding for Emotix

Emotix, a robotics startup and developer of India’s first companion robot ‘Miko’, is raising about $7.5 million in a Series A round led by Chiratae Ventures (formerly IDG Ventures India), YourNest Venture Capital, investor Bruno Raschle’s family office and a group of angel investors.

The funding proceeds will be used to expand operations in North America, UK and the Middle East, The Economic Times reported.

Emotix was founded in 2014 by three IIT Bombay post-graduates Chintan Raikar, Prashant Iyengar, and Sneh Vaswani. The startup has raised $10 million in funding till date.

Craft marketplace Tjori raises $700k

Online craft marketplace Tjori has raised $700,000 in a pre-Series A funding round from a clutch of investors including McKinsey partners and HNIs from India and abroad.

The startup plans to use the funds to further expand categories like apparel, footwear, jewellery, wellness, mom and baby care and home, it said in a statement.