Payments company MobiKwik made its first acquisition! The company announced its entry into the wealth management business by acquiring Mumbai-based wealth management platform Clearfunds. The MobiKwik platform will now allow its customer base to start saving in mutual funds seamlessly from the app, and said that it will be investing $15 million over the next year to scale up its wealth management business.
Soon, Innov8 will have co-working spaces of 1 lakh square feet. On Wednesday, the startup announced that it raised $4 million in its its pre-Series A funding led by Credence Family Office. It said that the latest round of funding is to open more centres, and doubling up its seat and customer count to 8,000 and 7,300 in the next six months.
The company is also looking to make additional investments in building technology platforms for businesses along with customer-facing apps, and is investing in community experience while increasing its NPS (Net Promoter Score).
The Gujarat government has announced a grand challenge for startups for a prize money of Rs 3 crore. At the Vibrant Gujarat Startup and Technology Summit in Gandhinagar, Chief Minister Vijay Rupani announced that the state will support 2,000 startups by 2021, at the cost of Rs 7,000 crore. The second edition of the three-day summit has one key objective – to attract the brightest entrepreneurial minds from across the nation to ideate, innovate and help them shape their idea for the development of the state and the nation.
Compatibility-based partner search platform Betterhalf.ai announced it has secured a seed funding of $500,000 through angel investors to build the platform’s AI capabilities, and for continued investment in technology and talent. Founded in 2016 by MIT alumni, Pawan and Rahul Namdev, the company has raised about $750,000 till date.
LetsVenture registers as an angel Alternate Investment Fund (AIF) under the Securities and Exchange Board of India’s (SEBI) regulation to get more angels and facilitate more investments. It aims to enable early-stage investments worth Rs 1,000 crore in the next two years through this new vehicle. The company announced that investors can continue to log in and engage with the startups. Once they decide to commit, they will need to go through the process of signing up through the AIF before the closure of the round.
Delhi-based fertility platform, Elawoman raised $3 million in Series A funding led by Chiratae Ventures, which it plans to use to enhance technology and expand to non-metro cities, and even to other Asia Pacific countries, catering to more than a $4 billion market. The startup uses AI-driven patient-doctor matching algorithm to increase success rate of pregnancies, and functions as a one stop solution for its users.
The UN says that 600 million girls will enter the workforce in the next ten years, and the girl child of today is a powerhouse, slowly and steadily creating a worldwide impact. To celebrate this girl power, on the occasion of the International Day of the Girl Child, we bring to you stories of five powerful women entrepreneurs empowering and reshaping India’s rural economies.
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