India Dealbook: Chariot, LetsMD, Mojro, Ideal Insurance secure fresh funding

IoT startup Chariot, healthcare-focused fintech firm LetsMD, smart urban logistics platform Mojro and insurance management startup Ideal Insurance Brokers have received funding.

IoT startup Chariot gets funds from GEMs Partners

Delhi-based IoT startup Chariot has raised Rs 2 crore ($306,000) from venture capital firm GEMs Partners in its pre-Series A funding round.

Founded in 2017, Chariot is a digital enterprise connecting sensing devices to provide deep analytical capabilities in detecting patterns inside data streams.

The company plans to use the funds raised for product development and market expansion, according to a press statement.

“Within only one year of inception, Chariot has started working with large corporates and listed giants in India and across the globe. This investment by GEMs Partners will help us in further consolidating our reach at the global level, upgrading in-house technology platform, infrastructure and products, and also in pushing internal growth,” said Nilay Mehrotra, Co-founder & CEO, Chariot.

SRI Capital invests $1m in LetsMD

Investment firm SRI Capital has put in $1 million in New Delhi-based healthcare-focused fintech startup LetsMD.

Existing Investor Waterbridge Ventures, along with Thinkuvate, participated in this round of funding, which will be used by the company to scale up operations across the country.

Last year, LetsMD raised an undisclosed amount of funding from WaterBridge Ventures

LetsMD gives financial access to people for their tertiary level healthcare needs. It uses technology to generate loans faster and cater to a wide segment of borrowers who traditionally depend on private sources.

The company has tied up with more than 200 reputed hospitals and super speciality chains such as Fortis Healthcare, BLK Hospital and Apollo Hospitals in the Delhi-NCR region so far.

Smart urban logistics platform Mojro raises $650k funding

Smart urban logistics platform Mojro has raised $650,000 in a round led by 1Crowd and its investor community.

According to an official statement, the Delhi-based startup plans to use the funds for technology development, team expansion, marketing and building partnerships with fleet owners.

Mojro offers a machine learning-driven intra-city logistic planning and optimization platform.The platform can be used by large and medium businesses to optimize their logistics needs in terms of fleet utilization, space utilization and cost optimization.

Ideal Insurance gets $1m from Venture Catalysts

Kolkata-based insurance management startup Ideal Insurance Brokers has received $1 million seed funding from incubation platform Venture Catalysts, according to a report in The Economic Times.

Last year, Ideal Insurance, which operates online insurance broking platform www.121policy.com, has raised an undisclosed amount from Xelpmoc, a technology incubator promoted by former JustDial CTO Sandipan Chattopadhyay.

The previous funding was done at a valuation of Rs 100 crore ($15 million).

Also Read:

Ideal Insurance raises funds from Xelpmoc

LetsMD receives additional angel funding from WaterBridge Ventures