India Deal Monitor: Karbon Card nabs $2m in seed funding and more updates

Bengaluru- and Shanghai-based fintech startup Karbon Card, which issues corporate cards to Indian startups, has raised a seed funding of $2 million from a clutch of Indian and Chinese investors, it announced on Monday.

The investors include Kunal Shah, founder and CEO of Cred, Amrish Rau, co-founder of Citrus Payments, and Jitendra Gupta, co-founder of Jupiter, the startup said in a statement.

Karbon Card will use the corpus raised for product development, operations and market expansion.

Founded in 2019 by Pei-fu Hsieh and Amit Jangir, Karbon Card offers corporate cards to Indian startups with funding of at least Rs25 lakh. The startup offers an interest-free corporate credit card that includes rewards specific to startups such as AWS credit, Uber, HubSpot, Freshworks discount, and MakeMyTrip, and also expense management software among others.

“…the banks’ position to protect their customers’ savings at all cost make their requirements and policies rigid and unfriendly to startups. We will strive to improve your cashflow with credit, help you to spend wiser and manage better through our suite of products,” Hsieh, co-founder and CEO of Karbon Card, said.

INDIA DEAL MONITOR

Here are some prominent venture capital transactions in India for March 8-March 9.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
Karbon CardBengaluru/Shanghai2 millionSeedKunal Shah, Amrish Rau, Jitendra Gupta-Financial Services
Singularity Automation Pvt LtdBengaluru1.15 millionPre-Series AIvyCap Ventures-Software/Software Services
InstamojoBengaluru944,000-Times Internet-FinTech
StyleNookMumbai--Lead Angels Network & Stanford Angels & Entrepreneurs-E-Commerce

 

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.