India Dealbook: Lenskart backs Israeli co; Happay, Param.ai raise funds; AlmaMapper buys iTeknika

While Lenskart has invested in an Israeli firm 6over6, Indian startups Happay and Param.ai have raised funds. Also, edtech firm AlmaMapper Technologies has acquired iTeknika.

Lenskart invests $1m in Israeli startup 6over6

Indian eyewear solutions company Lenskart has acquired a minority stake in Israeli startup 6over6 for $1 million, said a report in The Economic Times today.

Peyush Bansal, CEO of Lenskart, told the newspaper that Lenskart could look at investing more funds in the Tel Aviv-based startup later.

“We had started working with 6over6 in February earlier this year, and this strategic partnership will allow us to co-develop the product and ensure that our interests are aligned. We anticipate that this technology will change vision care globally,” Bansal said.

In September this year, Lenskart had also invested $1 million in another startup Ditto, a US-based 3-D graphical modelling venture.

Expense management startup Happay raises $10m

Bengaluru-based expense management startup Happay has raised Rs 65 crore ($10 million) in a Series B round of investment from Sequoia Capital, Axiom Asia and AME Cloud Ventures

According to a report in The Economic Times quoting a regulatory filing, Happay allotted preferential shares to 5 investors at a premium of Rs 1.03 lakh per share.

While Sequoia invested Rs 38.5 crore, Singapore-based PE fund Axiom Asia put in Rs 25.7 crore. It has also received an investment of ₹35 lakh from Yahoo co-founder Jerry Yang-led venture fund AME Cloud, said the news report.

Earlier in July 2015, Happay raised $7.2 million in a funding round which was led by Sequoia Capital and Prime Venture Partners. Before that, the firm raised seed funding of $500,000 from Prime Venture Partners in 2013.

Param.ai raises funds from US-based Institutional Fund Core Financials

Artificial intelligence startup Param.ai, which offers companies an AI-based inbound hiring solution, has raised Rs 1.75 crore in seed funding from US-based Institutional Fund Core Financials.

As per a report in The Economic Times, Indian actor Ashish Vidyarthi also invested in the firm.

The startup was earlier backed by Satya D Sinha and Gyanendra Singh, the founders of Mancer Consulting.

Param.ai is a predictive intelligence recruitment solution. Param helps companies to automate most of the hiring tasks using AI.

AlmaMapper Tech acquires iTeknika

Ahmedabad-based edutech firm AlmaMapper Technologies has acquired another recruitment and assessment solutions firm iTeknika in a cash and share swap deal, said a report in The Economic Times.

The financial details of the deal were not disclosed.

Backed by Oswal Techno Ventures, AlmaMapper had acquired recruitment solution company VibrantMinds Technologies earlier this year.

In April last year, the company had raised $400,000 in seed funding from Oswal Techno Ventures LLP.

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AlmaMapper buys recruitment firm VibrantMinds