India Dealbook: PeeSafe, Boxx.ai, JustCode, Loanmeet raise funds

Photo: Reuters

Hygiene products retailer PeeSafe’s parent Redcliffe Hygiene has raised $1 million from a group of investors, AI startup Boxx.ai has received $500k from angel investors, JustCode acquires online hiring company Jobspire even as lending firm Loanmeet has secured an undisclosed amount of seed funding.

Hygiene products retailer PeeSafe’s parent raises $1m

PeeSafe, a toilet seat sanitizer spray manufacturer, has raised $1 million from investors including Venture Catalyst, Alfa Capital, Green Shots Capital and Real Times Ventures.

Other investors in the round include Amit Choudhary, partner at Motilal Oswal PE, and Govind Raja, former CEO at Freecharge.

Redcliffe Hygiene will use the money to build its distribution network, brand visibility, offshore manufacturing and on-ground sales force.

Two months ago, SafetyKart Retail had raised funds from Redcliffe Capital and moved its private label brand PeeSafe to a newly founded entity Redcliffe Hygiene.

Unicorn India backs AI firm Boxx.ai

Mumbai-based VC firm Unicorn India Ventures has led a $500k funding round in Boxx.ai, a Bangalore-based artificial intelligence-backed analytics startup, the company said in a statement.

Other investors who participated in the round include angel investors Venky Krishnakumar, former COO and CFO, Citibank APAC; Suresh Shankar, founder and CEO, CrayonData; and Vivek Bhargava, CEO, DAN Performance Group.

The company plans to utilise the newly raised funds to upgrade its technology and algorithms platforms, and to expand its product portfolio.

Boxx.ai was launched in July 2016 by IIT alumni Ajay Kashyap, Prakhar Raj and Shitiz Bansal. The startup builds products that use AI to solve critical analytics problems quickly and at an affordable cost.

JustCode buys online hiring portal Jobspire

New York-based JustCode, an interview platform, has acquired Bangalore-based hiring portal Jobspire for an undisclosed amount, as per a company statement.

The acquisition will help JustCode expand its operations in the country and strengthen its core products for employers.

Jobspire, which is owned by Jobspire Technologies Pvt. Ltd, was founded in 2014 by Manipal Institute of Technology alumni Mohak Dhingra, Kartik Luke Singh, Sandesh Kini and Varun Mayya. The startup provides online job recruitment solutions including sourcing, matching, decision-making and tracking for Indian startups.

Lending firm Loanmeet gets seed funding

Digital lending platform Loanmeet has received an undisclosed amount of seed funding from Chinese entrepreneurs and investors Cao Yibin and Huang Wei, and KrazyBee.com co-founder and CEO Madhusudan E, as per a company statement.

The Bangalore-based startup will use the money for expanding its customer base.

LoanMeet provides short-term working capital loans to retailers for inventory financing, and claims to be growing at roughly 50 per cent month-over-month. It was founded by Sunil Kumar and Ritesh Singh in 2016.

“LoanMeet is disrupting the multi-billion dollar supply chain finance in offline retail. It is leveraging technology to fundamentally transform inventory financing for retailers,” said Yibin.

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