India Digest: Info Edge backs Zippserv; Groww raises $1.6m; SynThera secures seed funding

Photo: Groww.

Online classifieds company Info Edge India Ltd has made a $437,000 investment in Ideaclicks Infolabs that handles risk assessment work, while Groww, which helps people invest in mutual funds through its online platform, has raised $1.6 million in a pre-Series A round. Medical devices maker SynThera Biomedical has raised seed funding from 1Crowd and Venture Center.

Info Edge India invests about $437,000 in Zippserv

Info Edge India Ltd, an online classifieds company, has made a ₹3 Crore ($437,000) investment in Ideaclicks Infolabs Private Limited, a Bengaluru-based real estate risk assessment service provider, the company announced.

The investment was made through a subsidiary of Info Edge India and marks its entry into the field of recruitment, matrimony, real estate, education and related services.

Post investment, the aggregate shareholding of Info Edge India in Ideaclicks Infolabs would be 45.31 per cent.

Also known as Zippserv, the platform of Ideaclicks Infolabs enables customers to make property purchases.

Groww raises  $1.6m from Insignia Ventures, Lightbridge, others 

Groww, an online investment platform, has raised $1.6 million in a pre-series A round from investors including Insignia Ventures Partners, Lightbridge Partners and Kairos, the company announced on July 9.

Its existing investors Mukesh Bansal and Ankit Nagori also participated in the investment.

The investment came about five months after it raised seed funding from Y Combinator, Myntra founder Mukesh Bansal, and former Flipkart executive Ankit Nagori.

The proceeds of the latest investment will be used to strengthen technology and other growth channels of the platform.

Established in 2017, Groww has partnered with 34 mutual funds and offers an investment channel via mobile app or web platform. The platform was founded by ex-employees of Flipkart, Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal.

Groww says India has 20 million existing investors and another 200 million potential investors who have investable income but are not making investments as yet.

SynThera Biomedical receives seed investment from 1Crowd and Venture Center

SynThera Biomedical Private Limited, a Pune-based startup producing affordable biomaterials-based medical devices, has raised an undisclosed seed investment from 1Crowd and Venture Center, the company announced.

The financing of Venture Center comes from the Ministry of Science and Technology Government of India’s Biotechnology Industry Research Assistance Council (BIRAC) SEED scheme.

“SynThera has unique technology capabilities and intellectual property, and will be the first bioactive glass company from India. It will be uniquely positioned to provide valuable biomaterial solutions to dental and orthopaedic surgeons,” said Dr. Premnath, director of Venture Center.

SynThera Biomedical’s flagship products are SynOst and PoroSyn, used in dental and orthopaedic surgeries to repair and regenerate bones.

1Crowd has made investments in over 17 startups.

Also Read:

India Dealbook: Advanced Enzyme raises debt; Disprz, Rare Media get equity funding

India Dealbook: eKincare, Groww, The Wedding Brigade raise funds; PeopleStrong acquires Grownout

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.