India Deal Monitor: Saama leads $5.9m funding in Intello Labs and more updates

Artificial intelligence-focused agricultural technology startup Intello Labs Pvt. Ltd Wednesday said it has raised about $5.9 million (Rs 45 crore) in its Series A funding round led by early-stage investor Saama Capital.

The round also saw participation of new investors Singapore-based agtech accelerator GROW and US-based SVG Ventures Thrive, and existing investors Omnivore and Nexus Venture Partners.

The startup will use the corpus raised to accelerate growth in international markets, particularly in the US and across Asia-Pacific, per a statement.

Founded in May 2016 by IIT Bombay alumni Sharma, Nishant Mishra and Himani Shah, along with Devendra Chandani, Intello Labs uses artificial intelligence tools including computer vision and deep learning to build a platform for grading and monitoring the quality of agricultural commodities. It had closed a seed round of $2 million from Nexus Venture Partners and Omnivore in April last year.

The startup is based out of Gurugram, with operations in Singapore, China, and the US. Its major clients include Reliance Fresh, Dole, Ocean Spray, and online grocery companies in China and Southeast Asia.

INDIA DEAL MONITOR

Here are some prominent venture capital transactions in India from May 10-May 13, 2020.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
Intello Labs Pvt. LtdGurugram5.9 millionSeries ASaama CapitalGROW, SVG Ventures Thrive, Omnivore, Nexus Venture PartnersInformation Technology
Ascent Health and WellnessMumbai2 millionDebtAvendus Structured Credit Fund 1-Healthcare
MagicpinGurugram3.9 million-Lightspeed Venture PartnersMoonstone Investments, WaterBridge Venture, The Bunting Family Private Fund, Srivatsan RajanE-Commerce
Doceree Inc.New Jersey1 millionSeedKumar Gaurav-HealthTech
Tecso Charge Zone Pvt. LtdGujarat--Mumbai Angels Network-Automotive
SpyneGurugram-Pre-Series AAngellist, Smile Group, Manish Amin, Anil Goel, Anubhav Sonthalia, Deepak Mittal-Internet
Refrens Internet Pvt. LtdBengaluru--Vijay Shekhar Sharma, Anupam Mittal AngelList’s Collective Fund, FirstCheque, Amiya Pathak, Gireesh Subramaniam, Sujayath Ali, Naveneetha Krishnan, Amit Lakhotia, Ajeet KhuranaInternet
Sindhuja MicrocreditNoida8.7 millionSeries BNordic Microfinance Initiative (NMI, Carpediem Capital Partners-Financial Services
ShiprocketNew Delhi13 millionSeries CTribe Capital LLC, Innoven Capital, Bertelsmann India Investments-LogiTech
NykaaMumbai9 millionSeries FSteadview Capital-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.