In the latest startup funding, ed-tech startup PlayAblo has raised $600,000 from ABI-Showatech (India) Ltd, a maker of precision automotive components, while RainCan has raised Rs 1.75 crore from Prabodh Agarwal, group CFO, IIFL Holdings Ltd., and existing investor Dr. Aniruddha Malpani.
ABI-Showatech invests in PlayAblo
The potential reach and the impact that PlayAblo can have in the way education at the primary level can be improved is the reason the group has decided to invest in this venture commercially, said ABI in a statement on Wednesday.
“I see Gamified Learning being exactly where e-commerce in the country was 10 years ago – Nascent but with massive latent potential. This infusion of capital from investors who share our vision is the reinforcement that we needed to make our next leap of growth,” said Dheeraj Sharma, CEO, Playablo.
“PlayAblo can make a substantial impact on the entire education ecosystem at Primary School level as well as for Skill Development of young adults. We will leverage this investment for two key purposes: Building our sales, technology teams and investments in product & technology,” he added.
RainCan raises pre-Series A
Subscription-based grocery delivery startup RainCan has raised Rs 1.75 crore ($273,000) in a pre-Series A funding round led by Prabodh Agarwal, group CFO, IIFL Holdings Ltd., and existing investor Dr. Aniruddha Malpani, said a report in The Economic Times.
The Pune-based firm, operated by Bloomskart Retail Pvt Ltd, will use the funds to expand delivery operations centres and to set up a logistics platform to lower delivery costs for customers.
RainCan was founded by Indian Institute of Technology Bombay graduates Abhijeet Kumar and Munendra Singh in June 2015. The startup claims to have crossed Rs 10 crore in revenue, and is clocking a monthly 15% growth.