India Dealbook: Freyr Energy, Paymatrix, Niramai Health, Koye Pharma, Blue Planet raise funds

Photo: Bloomberg

The India startup scene looks robust as investors continue to pour funds into the sector. Paymatrix, Freyr Energy, Niramai Health, Koye Pharma, and Blue Planet are among the latest startups to secure financing.

Freyr Energy raises $1.5m Series A

Hyderabad-based solar energy company Freyr Energy has secured $1.5 million in Series A funding from Impact Partners, a crowdfunding platform for impact investing.

Operated by Singapore-based Impact Investment Exchange (IIX), Impact Partners brought together a consortium of global investors including Netherlands-based C4D Partners and India-based angel investors.

Freyr said the funding will help it extend access to reliable and affordable solar energy to 2,275 households and 2,975 businesses, enable 675 off-grid rural villages to enjoy electricity for the first time through micro-grids, and avoid 167,270 metric tons of CO2 emissions by 2022.

The proceeds will also be used to improve its technology platform, strengthen its sales and channel partner network, and support marketing activities to fuel future growth.

Paymatrix raises $100K pre-Series A

Hyderabad-based rent management platform Paymatrix has raised $100,000 as part of a pre-Series A round of funding from SucSeed Venture Partners, local media reported.

The startup is looking to raise a larger pre-Series A round of $1 million and is in talks with several investors for the same. Other investors in Paymatrix include Xseed Venture Partners, IIIT-H seed fund, and IIIT-H Foundation.

The startup plans to use the proceeds from the financing round to enhance its technological infrastructure and to meet marketing expenses.

Ankur Capital invests in Niramai

Breast cancer screening startup Niramai Health Analytix Pvt Ltd has raised about $6-7 million (Rs 42.5-50 crore) in a fresh round of funding from early-stage investment firms Ankur Capital, Axilor Ventures and pi Ventures, and Flipkart co-founder Binny Bansal, VCCircle reported.

Founded in July 2016 by Geetha Manjunath and Nidhi Mathur, Niramai uses big data analytics and artificial intelligence over thermal images for early detection of breast cancer. It currently offers services in Bengaluru, Mysore, Hyderabad, Mumbai, Dehradun and Pune.

PremjiInvest backs Sequoia-backed Koye

PremjiInvest, the family office of Wipro Ltd chairman Azim Premji, has invested an undisclosed amount in Sequoia Capital-backed Koye Pharmaceuticals Pvt. Ltd, VCCircle reported.

The investment marks PremjiInvest’s first bet on a pharmaceuticals company in the country in more than a decade.

The transaction will help Koye strengthen its position in the domestic formulation market and pursue newer business avenues, the report added. Last year, Sequoia had increased its stake in Koye to 62.6 per cent from 58.3 per cent by pumping in more money.

Neev Fund backs Singapore’s Blue Planet

State Bank of India (SBI)-backed Neev Fund has made a strategic investment in Singapore-based waste management solutions company Blue Planet Environmental Solutions, per an announcement.

Neev Fund is an infrastructure-focused private equity fund that was created in partnership between SBI and the UK Government’s Department for International Development (DFID). The investment will give Blue Planet additional impetus to aggressively scale up the business in the waste management space, the statement added.

Also Read:

India Dealbook: Prodigal Tech, Magiclane raise funds; CarDekho acqui-hires Carbiqi

India Dealbook: Aye Finance, Signzy raise funds; Curefit in M&A; Singhania scion to back startups

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.