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.