India Dealbook: Rupeek, MedTel, WebEngage raise funding

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Financial technology firm Rupeek, health-tech startup MedTel and business data analytics company WebEngage have raised funds.

Rupeek raises $6.8m in new funding round

Rupeek, a digital lending company offering gold loans, has raised $6.83 million (Rs 44 crore) in a fresh funding round led by Accel Partners, according to a VCCircle report quoting regulatory filings.

It was reported in September last year that the Bengaluru-based firm was in the process of raising close to $12 millioas part of the early-stage funding round led by Accel India and financial inclusion-focused investment firm Lok Capital.

As per the filings with the Ministry of Corporate Affairs, while Accel Partners put in $5 million in the round, existing investor Sequoia Capital invested the remaining amount.

Rupeek had raised angel funds from the likes of  former Snapdeal chief product officer Anand Chandrasekaran, Anupam Mittal, founder, People Group; Kunal Shah, founder, Freecharge and Ravi Garikipati CTO, Flipkart.

Health-tech startup MedTel raises pre-Series A round

Health-tech startup MedTel has raised an undisclosed amount of funding led by programme jointly run by the British and Indian governments named Innovative Ventures and Technologies for Development (INVENT).

The Odisha-based startup plans to use the pre-Series A funding to improve its technology and product offerings in addition to expanding to other states, according to an official statement.

Founded last year MedTel HealthCare Pvt. Ltd operates an artificial intelligence and cloud-based web and mobile platform which brings together pharmacies, pathology labs, doctors and patients.

MedTel claims to have aggregrated 850 pharmacies and diagnostic centres as digtial health clinics. It offers more than 400 registered specialist doctors with expertise in areas including paediatrics, psychology, caridiology, neurology, oncology and diabetology.

US-based Social Capital backs WebEngage

Business analytics startup WebEngage, operated by Webklipper Technologies Pvt. Ltd, has raised an undisclosed amount of funding from US-based venture capital firm Social Capital, led by former Facebook executive Chamath Palihapitiya.

According to an official statement, WebEngage is first company to raise money through Social Capital’s Capital-as-a-Service (Caas) vehicle, which allows the investment firm to make funding decisions through algorithms based on a company’s data and metrics.

Founded in 2011, the Mumbai-based startup plans to use the money raised to enhance its product pipeline for this year.

“The company will focus on suggesting user journeys to marketers and product managers based on data and machine learning, helping customers measure and optimise based on global/local benchmarks, helping customers to holistically test campaigns across channels before launching, growing the platform to integrate nicely with other ecosystem players,” Avlesh Singh said in a blog post.

In 2016, Bengaluru based-based technology firm Capillary Technologies Pvt Ltd had picked up a minority stake in WebEngage.

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Rupeek raises early-stage led by Accel India

India: Capillary Techologies invests an undisclosed amount in WebEngage