India Dealbook: Vowelor Books, Syook, GroMo secure funding

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Indian startups continue to attract investor attention. Vowelor Books and Media, Industrial Internet of Things (IIoT) startup Syook, and fintech platform GroMo are among the latest to have secured funding.

Vowelor raises pre-series A funding

Vowelor Books and Media, an interactive platform for book lovers, has raised Rs 1 crore in a pre-Series A funding round led by angel investor Dr. Sanjeev Juneja.

Vowelor, launched in November 2018 by Manik Ghawri, Lalit Sharma and Himanshu Gandhi, is an inclusive platform for readers and writers which not only lets them connect with like-minded book lovers but also solves their dilemma of finding a next read.

“This funding will help us to develop, implement and market this app to target 150k+ downloads on our app and 200k monthly website hits,” the founders said.

Inflection Point backs Syook

Industrial Internet of Things (IIoT) startup Syook has raised an undisclosed amount in funding from Inflection Point Ventures, VCCircle reported.

The startup, operated by Sparkyo Technology Pvt. Ltd, plans to use the fresh capital to scale up its operations in India, apart from expanding to the Southeast Asian market.

GroMo nabs seed funding

Fintech platform GroMo has raised Rs4 crore in a seed funding round led by Ramakant Sharma, co-founder of Livspace, and Utsav Somani of AngelList India, besides other angel investors, Mint reported.

Launched earlier this year by three IIT Delhi alumni, GroMo plans to use the funding proceeds to strengthen its core technology and operations team, the report said. It also aims to provide access to financial products to the underserved and unpenetrated Tier 2 and beyond cities of the country.