India Dealbook: Vyapar, GOQii, Myelin Foundry in funding news

Photo: Mint

Vyapar, a mobile-based business accounting software, smart wearable brand GOQii, and deep technology startup Myelin Foundry have been in news for fundraising.

IndiaMART leads funding in Vyapar

Vyapar, a mobile-based business accounting software for small businesses, has raised Rs 36 crore (about $5 million) in funding led by B2B e-commerce firm IndiaMART.

The Series A funding round also saw participation from existing investors India Quotient and Axilor, per a statement.

Vyapar, operated by Simply Vyapar Apps Pvt. Ltd, is an invoice accounting and stock inventory app, which can be used by small and medium businesses for billing Goods and Services Tax (GST) invoices, managing stock inventory, and accounting solutions. The app claims to have recorded 1 million+ downloads.

BCCL invests in GOQii

Smart wearable brand GOQii has raised over Rs 45 crore in funding from media group Bennett Coleman and Company Ltd (BCCL).

Per the company’s filings with the Registrar of Companies (RoC), it has issued five-share warrants priced at Rs 9.1 crore each, along with one equity share of Rs 8,525, taking its total funding to Rs 45.50 crore, YourStory reported.

In July, the startup had raised Rs 13.81 crore (about $2 million) from its parent entity.

Myelin Foundry to raise $1m

Bengaluru-based deep technology startup Myelin Foundry is in the process of raising a seed round of about $1 million led by Endiya Partners, The Economic Times reported.

The startup was founded by former Group Chief Technology Officer at Tata Sons, Gopichand Katragadda. It will use the funds to scale up products commercially, in research and development and in hiring across sales and marketing.