Infibeam Avenues Ltd is selling its wholly owned subsidiary Infinium (India) Ltd to Ingenius E-commerce Pvt. Ltd for Rs 60 crore ($8.5 million) while 5C Network (India) Pvt. Ltd has raised an undisclosed amount in seed funding.
Infibeam sells Infinium for $8.5m
“The company (Infibeam Avenues) has divested its ownership with control in its wholly owned subsidiary Infinium (India) to Ingenius E-commerce Pvt Ltd,” the filing said. Infinium accounts for 10.51 per cent of the parent’s consolidated turnover and 0.31 per cent of its net worth.
Ingenius owns and operates B2B marketplace Tradohub for SMEs with focus on appliances, industrial equipment,
and raw materials.
Unitus backs 5C Network
Bengaluru-based health tech startup 5C Network (India) Pvt. Ltd has raised an undisclosed amount in seed funding from Unitus Ventures, Axilor, and Centre for Innovation Incubation and Entrepreneurship (CIIE), the technology business incubator of IIM Ahmedabad.
Launched in November 2016 by Kalyan Sivasailam and Syed Ahmed, 5C Network operates a radiology-focused online portal that allows hospitals and diagnostic centres to upload a patient’s reports directly to the cloud-based platform where automated data extraction and analysis is done by its proprietary machine learning (ML) algorithm.
5C Network claims to be handling more than 950 cases per day. The startup plans to reach more than 1000 hospitals, 200+ radiologists, and integrate the complete ecosystem in a mobile environment in the next few years.