RP-Sanjiv Goenka Group has created a Rs 100 crore venture capital fund to invest in FMCG startups in India. Also, gamified social learning platform Knudge.me and logistics tech startup FreightBro have raised funds.
RP-Sanjiv Goenka Group creates $15m VC fund, eyes FMCG startups
The RP-Sanjiv Goenka Group has created a Rs 100 crore ($14.8 million) venture capital fund to invest in fast-moving consumer goods startups, according to a Business Standard report.
“If the companies are good, our inputs can help them scale up. At some stage, they could become very good acquisition targets. Many of them will want to exit in three to five years, so then we give them an automatic exit option,” Goenka told BS.
This latest fund comes in the wake of growing investor interest in non-tech brands. Other venture capital firms focused on this segment include, DSG Consumer Partners, Saama Capital and Fireside Ventures.
Indian Angel Network backs gamified social learning platform Knudge.me
Bengaluru-based gamified social learning platform Knudge.me has raised an undisclosed amount of funding from Indian Angel Network.
Venture capital firm Axilor also participated in this latest funding round. Knudge.me was part of Axilor’s Summer ’17 Accelerator batch.
“We want to build Knudge.me as a global edutainment platform that makes learning fun for everyone. We already have seen interest from users in countries like the United States, Brazil and Indonesia,” said Zunaid Ahmed Co-founder and CEO at Knudge.me.
Logistics tech startup FreightBro gets angel funding
Logistics technology company FreightBro has raised a seed round of funding from angel investor Suresh Kumar, former Global CIO of Bank of New York Mellon.
According to an official statement, Kumar has also come on board as advisor to the firm and assist FreightBro, which builds technology solutions for the shipping industry.
The firm provides instant quotes, rate management solutions, and business intelligence to freight forwarders through its sophisticated and intuitive solution called FB Forward.