Wednesday, December 07, 2022
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Funding

In FY22, the fintech reported Rs 1,690 crore in revenues, which is more than double from Rs 640 crore in FY21

Vaishnav Shetty, executive director of Allcargo Logistics, Pirojshaw Sarkari, CEO of Gati, Ankur Agarwal, co-founder of Dunzo, Saurabh Aggarwal, co-founder of Fitso and Himanshu Periwal, co-founder of unlu also participated in the round

The company will utilise the capital for technological advancements and product offerings

IndiaMART's subsidiary TradeZeal Online recently decided to sell 4,850 shares of Instant Procurement, ProcMart's parent company to Sixth Sense Ventures

Set up in 1988, ICICI Venture has a total private equity assets under management of $1.65 billion across four funds

Evocus to use the funds for global expansion. Funds were disbursed in just 7 days

The first seed investment would be made by end of December 2022 and the minimum other three investments by end of March 2023

Alpha Wave Incubation led the investment round by investing Rs 39.4 crore while Viko Ventures, Reddy Futures LLP and AL Trust invested Rs 3.98 crore, Rs 3.98 crore, and Rs 3.59 crore, respectively

The early-stage technology-focused fund will invest in Knorish, a creator monetisation platform in a pre-series A extension round

The Sebi-registered Cat II VC fund is aligned with the platform's vision of investing in 500 start-ups, with Rs 5,000 crore and creating 5,00,000 jobs