India Dealbook: Identity management startup ERA, AI platform Raybaby raise funding

Photo: Mint

Identity management platform ERA has raised $39k seed funding while AI firm Raybaby has secured $1 million.

Identity management firm ERA gets funding

ERA, a Mumbai-based identity management firm, has raised $39k in seed funding from incubation platform Venture Catalysts and Patni Computers’ Amit Patni.

The investment was recently concluded at MTV Dropout, India’s first startup reality show.

ERA will use the funds for hiring more team members, update technology and explore strategic partnerships, according to a statement.

“Our decision to invest in ERA as a product was taken since blockchain is a rapidly growing product segment in financial technology, and the market potential for such a product is significantly greater. The team’s pitch and business plan were also stronger and more comprehensive, which influenced our final funding decision,” said Apoorv Ranjan Sharma, co-founder & president, Venture Catalysts.

Raybaby gets $1m from Anthill Ventures

Artificial intelligence-based startup Raybaby will get $1 million funding from Singapore-headquartered Anthill Ventures, according to an Economic Times article.

Raybaby, promoted by three Bengaluru-based women entrepreneurs and registered in the US, has developed the world’s first non-contact vital baby monitor. It will track well-being of babies using sensors, where the device also alerts when the baby has higher respiratory rates usually associated with fever or other such conditions.

“Six out of 24 startups that we have funded over the past two years were founded by women entrepreneurs. All six are doing extremely well,” said Prasad Vanga, partner, Anthill Ventures to ET.

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