India: Freedom Smart Labs raises $145k; Funcart gets $70k from HNIs; Carveniche raises angel funding

Photo: Mint

Retail solutions provider Freedom Smart Labs has raised around $145,000 from electronics goods retailer DCS Group, while online retailer for party supplies Funcart has received $70,000 from undisclosed high networth individuals.

Also, education tech startup Carveniche has raised funding of an undisclosed amount from angle investors

Retail IoT solutions provider Freedom Smart Labs raises $145k

Freedom Smart Labs Ltd, retail solutions provider, has raised Rs 1 crore ($145.8k) amount in seed funding from DCS Group, the regional retail partner for Dell, Samsung, Sony and Apple.

The company raised the funding within three months of its launch.

“Freedom.desi is next generation platform powered with Internet of Things. This will empower offline retail trade with required analytics & decision making data. Importance of IoT in retail can be realised with such visionary products,” said Kapil Goel, MD, DCS Group.

Gurgaon-based Freedom Smart Labs is bringing technology and innovation together by providing a common platform to shoppers and retailers.

“We endeavour to add new dimensions to the company and aspire to ramp up sales team,” said Yogesh Huja, founder, Freedom Smart Labs.

The company claims to received over 30,000 downloads.

Funcart Raises $70K From HNIs

Delhi-based online party supplies store, Funcart, has raised $70,000 as seed funding from a group of high networth individuals(HNIs).

The startup plans to utilise the latest round of funding to expand its business and team, as well as to create a strong marketing network for the website.

Launched in March 2015, Funcart is an online website that sells party supplies for kids’ parties, bachelorette parties, baby showers, and theme parties, among others.

“This will enable us to offer many more benefits and to bring in newer party supplies. We look at funding to make us even stronger than before by getting into personalization & adding more products to our existing range,” said Ritika Nangia, founder of Funcart.

“Funding is a positive growth and comes as an asset to a business enterprise. I have always believed in giving Funcart’s clientele a variety to choose from, that too at the best price the market can offer,” she added.

Funcart competes other party supplies e-tailers partymanao.com, partyhunterz.com and partyinabox in addition to other mainstream e-commerce platforms like Flipkart and Amazon that offer party supplies.

Carveniche raises angel funding

Ed-tech startup Carveniche Technologies Pvt Ltd has raised funding from Calcutta Angels, Lead Angels and some undisclosed high networth individuals(HNIs), according to a report in VC Circle.

The amount of the funding was not disclosed.

The Bengaluru-based company plans to use the funds for product development, scaling up of operations, marketing and also for strengthening its B2C (business to consumer) operations, Avneet Makkar, CEO of Carveniche Technologies, said.

In 2012, Carevniche had raised angel funding of around Rs1 crore ($0.2 million) from Mumbai Angels.

“Our products are centred around a personalised learning technique that suits every student. We also want to use the power of data to ascertain why a student is not doing well and what could be the right way to help them understand a concept,” said Makkar.

Founded in 2010 by Avneet Makkar and Saraswathy A, Carveniche using various technologies including machine learning, artificial intelligence, big data and analytics to overcome all the difficulties a child faces in the learning process

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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.

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.