India Dealbook: Freshboxx, AadhaarAPI.com, Prest Loans raise funding

Online fruits and vegetables enterprise Freshboxx.in and Aadhaar-based technology startup AadhaarAPI.com have raised an undisclosed sum in an angel round even as NBFC Prest Loans has received Rs 3.7 crore in a fresh round.

Freshboxx raises angel funding led by Jayant Humbarwadi

Online fruits and vegetables enterprise Freshboxx.in has raised an undisclosed amount of angel funding led by Jayant Humbarwadi, joint MD at Ashok Iron Works. Existing investor Ravi Linganuri also participated In the round.

Hubli-based Freshboxx enables farmers to sell their produce directly to retail shops, restaurants and individual customers. The company was founded in December 2015 by Rohan Kulkarni.

“Our strong network makes it possible to move the produce within 24 hours. With initial pilots, we have reduced our unsold wastage from 18% to 9% and we are confident of reducing it even further to less than 3%,” said Rohan Kulkarni, founder, Freshboxx.

Last year in December, Freshboxx acquired Hubli-based UrMajesty, a last-mile logistics startup, for an undisclosed amount.

CIO Angel Network backs AadhaarAPI.com

CIO Angel Network has invested an undisclosed sum in Aadhaar-based technology startup AadhaarAPI.com, according to a statement.

The round was led by Sanjay Mehta; Kalpana Maniar, chief information officer at Edelweiss Financial Services; and Anoop Mathur, founder of CAN.

“In India, the cost of enrolling customers is so high, hence AadhaarAPI.com is a disruptive proposition that companies find very useful. The company is already profitable and with this investment it’s only going to accelerate its growth,” said Sanjay Mehta.

Run by Quagga Tech Pvt Ltd, AadhaarAPI.com was started in 2016 by Ritesh Kothari and Vijay Chhuttani. The company offers Aadhaar-based customer eKYC, authentication, eSign and AadhaarPAY services.

CIO which was started in 2015 has backed companies like PayTunes, Codemojo, Aisle, and Anakage.

NBFC Prest Loans gets $570k funding

New Delhi-based non-banking finance company (NBFC) Prest Loans has raised Rs 3.7 crore ($570,000) in a fresh round from Manish Poddar, angel investors Arun Garg, Parmeshwar Sharma and others, according to a company’s statement.

“This round of fundraising shall help us strengthen our balance sheet and in-turn leverage more to meet the robust demand we are witnessing,” said Ashok Mittal, founder & CEO, Prest Loans.

Prest Loans was started as Lord Krishna Financial Services Ltd in 1992. In July, the company was acquired by financial market veteran Ashok Mittal for Rs 2.5 crore. It offers small businesses loans.

Prest Loans has also secured debt funding from AU Small Finance Bank. “With this round we shall be able to raise more debt funding from other institutions. We expect good offtake in the next three to six months,” Mittal said.

Also Read:

India Dealbook: Matrix backs Gobasco; UFO Moviez to merge with Qube Cinema
India Dealbook: Centrum buys FirstRand Bank’s India ops; Alembic Pharma acquires Orbit Labs

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.