Placio has acquired subscription-based food startup Paco Meals and raised $50,000 in a seed funding round for the new food business. Other startups to raise funding include medical devices technology company iNICU, edtech startup Genext Students, and NBFC Kinara Capital.
Placio acquires Paco Meals, raises funding
Placio will help Paco Meals extend its services to the former’s captive audience, B2B partners in student housing market, and scale up operations, it said in a statement on Tuesday. The takeover of Paco Meal provides Placio with a team of culinary professionals and equipped facilities to develop menus that meet a multitude of tastes, it added.
Founded in March 2016 by Rohit Pateria and Ankush Arora, Placio was incubated by Amity Business Incubator and currently manages 15+ properties.
Venture Catalysts invests in iNICU
The key investors who participated in the funding round for iNICU include Vishal Jhunjhunwala¸ Vikas Khandelwal, Dipan Dalal and Vikas Kapoor, among others. iNICU is an integrated solution, which automatically captures real-time clinical data from connected devices, laboratory results, and bedside clinical observations. Further, it analyses this data in medically comprehensive and user-definable formats to provide rapid, real-time clinical decision support to the medical practitioners treating pre-term infants.
Genext Students raises $250K
Edtech startup Genext Students has raised $250,000 in a bridge round from undisclosed investors, it announced on Tuesday.
With this round of funding, Genext Students will look to bolster its existing services and strengthen its market presence. In terms of tech integration, it will expand the role of AI and other tech tools that will be useful for tutors to deliver much better and measured learning outcomes, it said in a statement.
Genext Students enables personalized learning for students and claims to provide real-time progress updates to parents. Its services are live in Mumbai, Pune, Bangalore, Hyderabad and Lucknow with 70,000+ hours of tutoring being clocked over the past two years. In addition, it also claims to have over 1.25 million users of its digital study content.
responsAbility backs Kinara Capital
Non-banking financial company Kinara Capital has raised debt funding of Rs 32 crore (about $5 million) via non-convertible debentures from Zurich-based responsAbility Investments, an asset manager specialising in debt and equity financing for private firms, reported The Times of India.
Founded in 2011 by Hardika Shah, Bengaluru-based Kinara Capital provides loans ranging between Rs 1 lakh and Rs 25 lakh to micro, small and medium enterprises. In October last year, it had raised Rs 96 crore ($15 million) in a funding round led by private equity firm Gaja Capital. The company claims to have serviced 15,000-plus customers in six states with a loan portfolio of Rs 450 crore.