India Digest: True Credits bags $30m funding; Haber raises $20m Series B

Photo: Reuters

True Credits, an NBFC and an affiliate of the lending company True Balance, has raised $30 in debt funding. In another development, AI-driven industrial robots maker Haber has raised $20 million in its Series B funding.

True Credits bags $30m funding

True Credits, an NBFC and an affiliate of the RBI-authorised lending company True Balance, has raised $30 in debt funding, it announced on Tuesday.

True Balance is operated by Balancehero India Private Limited, the wholly-owned subsidiary of Balancehero Co Ltd Korea.

This third round of investment has come from a mix of new and existing investors, namely, Northern Arc, Arthmate, Shine Star, E clear and Hinduja, and other Korean investors to support the company’s growth in India, the company said in a statement.

With the latest infusion, the total debt raised by the company stands at $55 million in FY21.

True Balance claims to have disbursed loans worth over Rs600 crore in this calendar year through its licensed NBFC subsidiary. The company sees over 10 lakh transactions per month on its platform for various financial services, loans being the primary contributor.

Haber raises $20m Series B

AI-driven industrial robots maker Haber has raised $20 million in its Series B funding round led by Ascent Capital, as per an announcement on Tuesday.

Other investors that were part of the financing included Accel, Elevation Capital, Beenext, Temasek partner Mukul Chawla and the founders of GreyOrange, another robot as a service company, SamayKohli, and Akash Gupta.

Accel had also led the startup’s Series A funding in 2019.

The company will use the fresh funding to expand its reach across new geographies and industries, with a goal to save over 400 billion litres of water in the next two years and to deploy over 10,000 eLIXAs in the next 5 years.

eLIXA is the company’s flagship product that was launched in 2017.

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.