India Dealbook: Nuvepro, Redbook and Mr Button raise funding

Cloud environment solutions provider Nuvepro has raised $400k through crowdfunding, AI-enabled pharmacy platform RedBook has secured $250k in seed funding while menswear private label Mr Button has closed pre-Series A funding.

Nuvepro raises $400k seed funding via 1Crowd

Nuvepro, a managed cloud environment solutions provider, has raised $400k funding through crowdfunding platform 1Crowd.

The company will use the proceeds to deepen its R&D efforts and for expansion plans, it said in a statement on Tuesday.

Nuvepro delivers ready-to-use infrastructure and applications on a single or multiple clouds, automates resource provisioning, manages cloud resources & spend and ensures governance and compliance of cloud usage.

1Crowd focuses on investing in early-stage ventures, and has made a dozen of investments since last year. It has around 500 investors on board and over 50 people as mentors.

AI pharmacy platform RedBook secures seed funding

Mumbai-based Instinct Innovations, which runs AI-enabled pharmacy platform RedBook, has received $250,000 in seed funding led by Vida Ventures and Aniruddha Malpani.

Redbook was founded by Ankit Solanki, a National University of Singapore graduate and ex-Fractal data scientist, Priyanka Gosai and Himanshu Singhi.

The company acts as a base for a proprietary AI engine that offers deep insights on drug consumption patterns. For pharmacies, RedBook claims to free up resources and time, and increases business by over 15 per cent with its intelligent features.

The company said it will use the funds to scale up RedBook across India.

Menswear brand Mr Button secures pre-Series A funding

Menswear brand Mr Button, which is owned by Jaipur-based Khetan Apparel Pvt Ltd, has raised an undisclosed amount in a Series A round led by Nine Rivers Capital founder Sandeep Daga.

The round was joined by UAE-based Jetty Ventures and a few unnamed high net worth individuals (HNIs).

Mr Button was started in 2011 by Deepak Khetan and Akshat Singh. It offers blazers, trousers, shirts, t-shirts, Nehru jackets, bandhgalas and joggers.

“Deepak has built a phenomenal brand and achieved significant scale in a boot strapped mode without losing sight of unit economics and building a profitable business. That speaks volumes about the leadership and the robustness of the business model,” said Daga.

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