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.