India Dealbook: ABI-Showatech invests in PlayAblo; RainCan pre-Series A

By Pramugdha Mamgain

July 19, 2017

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

PlayAblo, a Bangalore-based ed-tech startup, has raised $600,000 in funding from ABI-Showatech (India) Ltd, a maker of precision automotive components, and its associate companies.

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.

Also Read:

India Dealbook: Startups Qriyo, Sepalika, iNurture receive funding

India Dealbook: Online marketplace SparesHub, data analytics firm Quantta raise funds

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW