While healthtech startup Innovaccer and travel management firm ITILITE have raised equity funding, Aye Finance has secured $10 million debt.
Microsoft’s corporate venture fund backs Innovaccer
Microsoft’s corporate venture fund, M12 (formerly Microsoft Ventures), has closed its maiden investment in India by investing in healthtech startup Innovaccer.
The financial details of the deal were not disclosed.
In August 2016, Innovaccer had raised $15.6 million in a Series A round of funding led by Westbridge Capital. In 2015, it had raised seed funding from Google India head Rajan Anandan, 500Startups and redBus founder Phanindra Sama.
Rashmi Gopinath, partner at M12, will be leading its investments in India. M12 comprises experienced VCs and Microsoft veterans — with team members in North America, Europe and Israel. Globally, M12 has invested in over 70 startups in areas ranging from cybersecurity and artificial intelligence to business SaaS and industrial drones.
Travel management startup ITILITE raises Series A round led by Matrix
ITILITE, corporate travel management startup, has raised Rs 30 crore in its latest funding round led by existing investor Matrix Partners, according to a report in The Economic Times.
The Series A round also saw participation of angel investors including Ashish Gupta, founder of Helion VC fund.
The Bengaluru-based software-as-a-service (SaaS) platform offers end-to-end corporate travel management solutions. ITILITE had earlier raised a seed round of an undisclosed amount in late 2017.
Aye Finance raises $10m debt via NCDs
Financial services firm Aye Finance has raised $10 million in debt funding from global impact investment manager, responsAbility and Northern Arc, said a report in The Economic Times.
The investment, which was made through the issuance of non-convertible debentures, will help the company to strengthen its lending portfolio and offer affordable business loans to a larger number of micro-enterprises in India.
In December last year, Aye Finance announced raising $2.8 million through non-convertible debentures in a deal syndicated by Northern Arc Capital.
The venture is equity funded by four venture capital funds – CapitalG, Accion International, SAIF Partners and LGT. Last year it also raised Rs 70 crore in debt from Swiss impact investor BlueOrchard.