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
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
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
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
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.