Newnex Newsletter
16 April 2024
Newnex's latest track on the venture capital investment landscape across Europe and India. Stay informed as we delve into insights, fundraisings, and strategies shaping venture capital and startup scaling.
We tracked $1.1+ billion fundraisings in the European and Indian VC markets.
Top of the mind:
Temasek steps-up European commitment with Paris office
Norway's wealth fund says no investing in private equity
Mustafa Suleyman appointed CEO of Microsoft AI
Impact of EU's Digital Markets Act and FTA's actions on big-tech
Y-Combinator visiting London and 3-universities in UK
India Venture Capital Report 2024 - Bain & Company
European startup fundraisings ($930m):
Mission Zero Technologies, a cleantech company specializing in direct air capture (DAC), has disclosed a successful Series A funding round, raising £21.8 million. Leading the investment is 2150, with significant participation from World Fund, Fortescue, Siemens Financial Services, and Breakthrough Energy Ventures.
Crosstown H2R, a climate technology startup based in Baden, has emerged from stealth mode, revealing that it has secured over €2 million in subsidies and grants from the Swiss Federal Office of Energy (SFOE) and additional investors.
UpHill Health has secured a Series A funding of €7 million. The funding round was spearheaded by Portugal's private equity firm, Explorer, along with the collaborative support of the joint social impact fund of Redstone and EnjoyVenture. Previous investors, including Brighteye Ventures, Maze, Caixa Capital, and Grupo Luz Saúde, have reaffirmed their confidence in the company by backing it once more.
The startup Candela has unveiled a new capital infusion of €24.5 million, with French boat manufacturer Groupe Beneteau joining as a new investor, alongside the return of existing backers such as EQT Ventures and Ocean Zero LLC. This funding will be allocated towards further enhancing its technology and expanding its sales team.
French fintech Xaver has introduced its B2B AI platform tailored for life insurance and private pensions, alongside announcing the successful procurement of €5 million in Pre-Seed. Leading the investment are Motive Ventures and Cavalry Ventures, with participation from a cohort of former C-level executives from banks and insurers, including Martin Blessing (Commerzbank, UBS), Thomas Münkel (Allianz Group, UNIQA), and Matthias Setzer (Meta, PayPal). Additionally, founders such as Julian Teicke (Wefox), Raffaele Terrone (Scalapay), Felix Ohswald (GoStudent), Elmar Broscheit (Gorillas, Macquarie), Michael Wax (Forto), Jessica Holzbach (Penta/Pile), Tushar Ahluwalia (Razor Group), and Christian Reber (Pitch, Superlist), alongside Mario Götze, are among the investors. Fintech scouts from Sequoia, a16z, Lakestar Scout Fund, and EQT Ventures, along with participation from further funds like Robin Capital, The Delta, and Notion Capital, further contribute to the funding round.
German embedded finance platform Solaris SE has confirmed the finalization of its €96 million Series F round, with primary backing from SBI Group alongside other existing investors.
Eindhoven-based EFFECT Photonics, a firm specializing in highly integrated optics solutions, has revealed the successful closure of a $38 million Series D funding round. Innovation Industries Strategic Partners Fund spearheaded the investment, supported by Dutch pension funds PMT and PME, alongside co-investor Invest-NL Deep Tech Fund, and the involvement of other existing investors.
Innatera, headquartered in Rijswijk, South Holland, and renowned for its groundbreaking ultra-efficient neuromorphic processors, has revealed the successful closure of a €15 million Series A financing round. This round was co-financed by the EIC Fund and existing investors MIG Capital, Matterwave Ventures, and Delft Enterprises. Additionally, the Invest-NL Deep Tech Fund is contributing €4.8 million to this Series A round.
Stanhope AI, a London-based startup, aims to circumvent existing challenges with a novel AI approach, for which it has recently raised £2.3 million to further develop. The funding round was spearheaded by the UCL Technology Fund, given that Stanhope is a spinout from University College London. Additionally, Creator Fund, MMC Ventures, Moonfire Ventures, and Rockmount Capital have also participated in this investment round.
Belgium-based e-peas, a fabless semiconductor company specializing in ultra-low power management for energy harvesting, has disclosed the successful procurement of €17.5 million in a new funding round led by Otium Capital. Joining as new investors are Nomainvest and EIC Fund, alongside the continued support of existing investors including KBC Focus Fund, The Faktory, Wallonie Entreprendre, Noshaq-Leansquare, and Start.Invest.
Graswald.ai, a German 3D brand creation tool, has successfully raised $3.3 million in funding, co-led by Lakestar and Supernode Global. The platform offered by graswald.ai revolutionizes enterprise 3D content by providing a Figma or Canva-like experience for 3D, significantly enhancing customer engagement through immersive visuals.
Cathedral Studios, a UK-based indie game development studio, has announced the successful closure of a Seed funding round amounting to $6.66 million. This investment, spearheaded by Arca and supported by significant contributions from key industry players including Hartmann Capital, LiquidX, IVC, 6th Man & Spartan, marks a significant milestone for Cathedral Studios as it endeavors to redefine the horror gaming genre.
Greenly, a Paris-based leading carbon accounting platform, has secured a significant $52 million Series B funding round led by Fidelity International Strategic Ventures, with participation from new investors BGV (Benhamou Global Ventures), Move Capital, Hewlett Packard Enterprise (HPE), XAnge, Energy Impact Partners, and HSBC.
Cure51 has secured €15 million in a seed funding round, led by Sofinnova Partners. Other notable contributors to this round include Hitachi Ventures GmbH, Life Extension Ventures, Xavier Niel, and Olivier Pomel, CEO, and co-founder of Datadog.
Pelikan Mobility, a commercial fleet platform, has disclosed a successful seed round raising €4 million. The funding was secured from Pale Blue Dot, Frst, Seedcamp, and other investors.
London-based Automated Architecture (AUAR), a construction tech startup, has revealed the successful closure of a £2.6 million Seed round of funding. This investment was spearheaded by deep-tech and AI fund Miles Ahead and Robotics & Automation Ventures (ABB RA Ventures). Additionally, Rival Holdings, Morgan Stanley, Vandenbussche Group, Bacchus Venture Capital, and angel investors Nicolas Bearelle, Stefano Bernardi, and Dob Todorov have also contributed to the round.
CemVision a startup aiming to produce cement that is 95% greener than traditional options, has closed a €10M seed round with investment from Polar Structure, BackingMinds, and Zacua Ventures. Supported by the EQT Foundation and Breakthrough Energy, CemVision has also garnered interest from a diverse array of venture capital investors, including Playfair Capital, Norrsken VC, and Kompas VC, as well as energy companies like Vantaa Energy.
Green PRAXIS, a startup specializing in supporting operators and infrastructure owners in managing natural assets, has disclosed the successful completion of its Seed fundraising round. The funding was secured from a consortium of investors, including Open CNP, the CNP Assurances Corporate Venture fund, AFI Ventures, the Ventech early-stage impact fund, as well as historical investors.
Buddywise has announced the closure of its €3.5 million seed round aimed at preventing workplace accidents in industrial spaces across Europe. The funding round was co-led by specialist AI fund J12 and Kvanted, with participation from Soundcloud founder Eric Quidenus-Wahlforss.
Firecell, empowering industrial enterprises of all sizes to embrace smart industry solutions, has revealed the successful conclusion of a €6.6 million Seed round in equity. The funding was led by Ventech and Matterwave Ventures, with participation from Bpifrance's Digital Venture fund and Bouygues Telecom Initiative.
A new wealth-building platform named Belong has emerged from stealth mode after securing an impressive £2.95 million in Pre-Seed funding. Notably, this marks the largest Pre-Seed round ever raised by female founders in Europe. Additional investors in the venture include Octopus Ventures, Viola Fintech, Connect Ventures, Portage Ventures, and January Ventures. Moreover, prominent Fintech angel investors Ricky Knox and Gautham Radhakrishnan, along with Nutmeg co-founder William Todd, leading UK Economist John Kay, and tech industry expert Edwina Johnson have also joined in supporting the venture.
Dema.ai, a prominent predictive analytics platform for e-commerce, has finalized a €7 million seed funding round. The investment is spearheaded by J12 Ventures and Daphni, along with a consortium of high-profile angel investors. The primary objective of this funding is to facilitate the company's continued growth and the advancement of its innovative predictive analytics tool.
Global Screening Services (GSS), headquartered in London, a regulatory compliance platform assisting financial institutions in fulfilling their global sanctions obligations, has secured $47 million in a funding round. Notably, the company had previously raised a similar amount last year from prominent backers such as Japan’s Mitsubishi UFJ Financial Group (MUFG), one of the world’s largest banks. In this recent funding round, GSS has disclosed another significant supporter: the Commonwealth Bank of Australia (CBA), alongside Cynosure Group and AlixPartner, contributing to this latest cash infusion.
Medtech company Protembis has successfully raised a €30 million Series B round aimed at supporting the enrollment of their PROTEMBO Investigational Device in clinical trials. This funding round was co-led by a European consortium of VC investors, including Segulah Medical Acceleration based in Sweden, XGEN Venture from Italy, and TechVision Fund based in Germany. Additional investors in the round include Coparion, several large family offices, and angel investors.
Clean Food Group (CFG) has disclosed a funding of £2.5 million. This capital injection is designated for the ongoing development of CFG’s sustainable oil and fat alternatives, paving the way for a scheduled commercial launch in 2025. The funding round was spearheaded by Clean Growth Fund, a prominent investor specializing in low-emission companies across various sectors including power and energy, buildings, transport, agriculture, water, and waste.
Frankfurt-based Gunzilla Games, a AAA games developer, has revealed the successful acquisition of a combined funding totalling $30 million. This includes a $10 million strategic token round, co-led by CoinFund and Avalanche’s Blizzard Fund, with additional participation from Republic Capital and Morningstar Ventures.
Paris-based Metyos, a medtech startup focusing on chronic kidney disease (CKD), has announced the successful closure of a €2.3 million pre-seed round of funding. The investment was spearheaded by Cenitz, with participation from KIMA Ventures, Advans Lab, and Bpifrance. Additionally, the round saw support from doctors, health insurance angels, and business leaders from Implicity, Deepmind, and Nabla.
Sweden-based Arevo AB, a biotech company specializing in enhancing plant growth for a healthier planet, has disclosed a funding round amounting to €3.1 million from new investor Industrifonden. Additionally, existing investors Navigare Ventures, Fort Knox, Stora Enso, and Kempestiftelserna have collectively contributed an additional €3.5 million to further bolster Arevo's growth initiatives.
UK biogas tech company WASE has unveiled a successful fundraising effort, amassing over £8.5 million, which includes £2.4 million in non-dilutive funding. Extantia Capital led the financing round, with participation from Hitachi Ventures, WEPA Ventures, and Engie New Ventures, the corporate venture capital arm of global energy company Engie. Additionally, Elbow Beach Capital and Empirical Ventures have also contributed to the investment round.
London-based Oriole Networks, a startup leveraging light to train LLMs (Large Language Models) a hundred times faster with significantly less power consumption, has secured £10 million in seed funding. The round was co-led by UCL Technology Fund, Clean Growth Fund, XTX Ventures, and Dorilton Ventures, with support from Innovate UK Investor Partnership.
Freital-based watttron, a frontrunner in digital temperature control systems, has secured €12 million in Series B funding. The round was spearheaded by the Circular Innovation Fund (CIF), a global venture capital fund dedicated to circular innovation and co-managed by European-based Demeter and North American-based Cycle Capital, along with the European Circular Bioeconomy Fund (ECBF). In addition to watttron's longstanding partners TGFS Technologiegründerfonds Sachsen, Constancia New Business (CNB), SKion GmbH, BA Mr. Rico Kleinhempel, new investors have also joined to support watttron's endeavor to drive sustainability in the packaging industry.
London-based iCustoms, a company specializing in fully automated customs management solutions, has revealed the closure of a $2.2 million seed funding round. The investment was supported by Fuel Ventures, PlugnPlay, Outrun Ventures, Montblu Capital, SyndicateRoom, and prominent angel investors.
Stockholm-based Agteria Biotech, a company specializing in biotechnology solutions for reducing methane emissions from livestock, has announced the completion of a €1.4 million pre-seed funding round led by Norrsken Launcher. The Swedish company intends to utilize the capital to develop scalable and cost-effective solutions aimed at addressing cattle methane emissions.
The distributed cloud provider, Hive, has secured a €12 million Series A investment round led by SC Ventures.
The revenue management platform ayora has disclosed the successful acquisition of $1.6 million in a Pre-Seed funding round. J12 spearheads the funding, with Twin Path Ventures also participating. Additionally, a group of angel investors, including Farah Ballands (former CEO of Estera and Appleby partner), Roger Siddle (former Chairman of Lawyers on Demand, UK Managing Partner at Bain), and Abhijat Saraswat (CRO of Lupl, former Senior Director at Litera), have contributed to the round.
AI-powered computer vision company, Robovision, has successfully raised $42 million in its latest investment round. Target Global and Astanor Ventures took the lead in this round, with additional participation from Red River West.
Digital health company Wellola has confirmed the completion of a €2.2 million funding round, elevating its total funding to €4 million. Elkstone spearheaded the investment, with additional contributions from Enterprise Ireland and Bay Advisory.
Bavest, a B2B fintech company based in Frankfurt and Munich, has revealed the successful closure of a €1.1 million pre-seed round of funding. This latest round boasts notable backers including Christian Trummer from Bitpanda, ReZoom Capital, Nautic Ventures, Jens Rehwinkel, Dieter Staib, and senior figures from leading consultancies and the fintech sector.
London-based Metaview, an AI-powered interview note-taking platform catering to recruiters, has disclosed the successful closure of a $7 million fresh funding round. The round was led by Plural, with participation from Coelius Capital and existing investors Vertex Ventures US, Seedcamp, and Village Global. Notable angels such as Kyle Parrish (Figma VP of Sales) and Barney Hussey-Yeo (Cleo co-founder) also contributed to the round.
The digital health startup Tonic App has finalized a Series A funding round of €10.85 million. Leading the investment are BlueCrow Capital and Iberis Capital. Additionally, Vesalius Biocapital III, Armilar Venture Partners, Shilling VC, and FSNB Health & Care have also joined in as participants.
Stippl, a comprehensive travel app, has announced raising over €575k in funding. Supported by Marbruck Investments from Australia and Volve Capital from the Netherlands, the tech firm intends to enhance its AI-powered travel planning feature.
Berlin-based Recare, a SaaS platform simplifying patient transfers from hospitals to care providers, has announced securing €3.2M in new funding to enhance its digital discharge management marketplace in Germany. The funding encompasses contributions from existing investors and a €2M loan facilitated by Gilion, renowned for assisting tech companies in accessing funding and projecting growth.
Helsinki-based Onego Bio, a food-biotech company, has disclosed securing $40M in a Series A funding round led by NordicNinja, marking one of the largest A-rounds in the Nordics. The round also saw equity investments from Tesi and EIT Food, alongside contributions from existing investors Agronomics, Maki.vc, Holdix Turret, and specific strategic partners.
Luminance has secured $40M in funding for its Series B round. The company aims to fulfill a longstanding prediction in legal circles since ChatGPT's release: that LLMs will be capable of handling a significant portion of paralegals' tasks. March Capital led the round, with contributions from National Grid Partners and existing investors, including Slaughter and May.
Coadjute, headquartered in London and specializing in property technology, has revealed securing new funding from notable entities including Lloyds Banking Group, Nationwide, NatWest, and Rightmove.
Sparxell, a UK-based company specializing in the development of high-performance, sustainable, plant-based pigments, has successfully concluded a $3.2 million funding round. This round comprises Seed investments, grants, and awards. Among the investors participating in the seed funding is The Circular Innovation Fund, a global venture capital fund jointly managed by Demeter and Cycle Capital, with L’Oréal as an anchor investor. Other contributors include Future Communities Capital, sustainability-focused investor PDS Ventures, impact investor Katapult, biotech and consumer sectors investor Joyance Partners, and climate investor SNØCAP VC.
Supersimple, headquartered in Tallinn and known for its AI-native data analytics platform, has revealed securing $2.2M in a pre-seed round of funding. The platform enables users to delve into data and offer accurate responses to intricate queries within minutes. Leading the investment is Tera Ventures, with involvement from Specialist VC, Tiny VC, and several angel investors, including the former CTO of Twilio and the founders of Sixfold and Grünfin.
Telness Tech, headquartered in Stockholm and specializing in software solutions for the telecommunications industry, has announced raising €5 million from its two major shareholders — Industrifonden and Viltor (JCE Group).
XUND, a health tech scale-up headquartered in Vienna, has revealed securing €2 million in an extended Seed funding round. The funding round saw participation from new investor Thieme Group, alongside existing investors such as MMC Ventures and MassMutual Ventures.
Alrik, an operations software provider, has recently secured €1 million in seed funding from global venture capital firm Pi Labs. Alrik aims to address the construction sector's significant carbon footprint by implementing sustainable practices.
Warwick Acoustics, known for its patented loudspeaker technology poised to transform in-car audio systems, has secured an additional £7 million in funding. Mercia Asset Management spearheaded the funding round, which also saw participation from NFU Mutual and various private investors.
Fluid Topics, a digital platform facilitating automated customer service, has secured a Series B round of €15M from Kennet Partners. Among its previous investors are Ventech, a pan-European early-stage venture capital firm, and Credit Mutuel Innovation.
Pigment, a platform aiding organizations in business planning and strategic decision-making, has disclosed a Series D funding round of €133 million. This round is spearheaded by ICONIQ Growth. Additionally, Sandberg Bernthal Venture Partners and numerous existing investors, including IVP, Meritech, Greenoaks, and Felix Capital, have also contributed to this funding round.
Barcelona-headquartered HR unicorn Factorial has secured an $80 million go-to-market investment from General Catalyst, with GC covering a substantial portion of the expenses associated with acquiring new customers. This funding round comes after Factorial's oversubscribed $120 million Series C round in 2022, which was led by Atomico.
Mimo, a financial management startup streamlining the administrative aspects of B2B payments, has secured £15.5 million in funding. Led by Northzone, this round will facilitate the launch of a new platform for the company. Additional investors joining the round include Cocoa Ventures, Seedcamp, and Upfin VC, alongside angel investors.
Clyde Hydrogen, a Scottish cleantech company, has raised more than £1 million to support its decoupled electrolyser technology. This innovation is designed to enhance hydrogen production safely, at scale, and with low costs. The funding came from Zinc, the University of Glasgow, and a group of angel investors.
Scavenger AI, a German startup specializing in data analytics and AI, has secured €1.1 million in Pre-Seed funding. This investment aims to empower companies to conduct intricate data analyses within seconds. HTGF led the investment round in collaboration with Calm/Storm Ventures, Femventix, and the B4i Fund.
Fotokite AG, a Swiss-American company specializing in tethered drones for firefighting and public safety teams, has concluded its Series B funding round, securing $11 million. Leading the funding round is Carbyne Equity Partners, a European private equity firm focusing on nurturing European enterprises. Existing investors such as Swisscanto Private Equity Growth I and Credit Suisse Entrepreneur Capital Ltd also participated in the round.
Kepler Vision Technologies, a prominent software developer in the healthcare industry, has received a €1.5 million investment from Dutch investment firm ROM InWest. This funding will support the worldwide dissemination of Kepler's groundbreaking fall detection product, Kepler Night Nurse, which aims to transform elderly care and ease the burden on healthcare workers.
Indian Startup fundraisings ($177m):
SuperK, a technology-driven grocery retail chain, has secured approximately $3.7 million in its Series A funding round. The round was led by Catalyst Trusteeship Limited. Additionally, VSS Investment Fund, Veltis Capital, Stargazer Fund, CoralBay Ventures, Silver Needle Ventures, HOF Profectus, IA Growth Opportunities, and Abhishek Goyal collectively invested the remaining amount in the round.
JustDeliveries, a company offering logistics solutions for perishable goods, has secured $1 million in a pre-Series A funding round, with Nabventures leading the investment. Other investors, such as Faad Network, Anay Ventures, Caret Capital, and Mahansaria Family Office, also joined the round. Nabventures, a subsidiary of the National Bank for Agriculture and Rural Development (Nabard), is a venture growth equity fund focused on investing in startups within agritech, foodtech, rural fintech, healthtech, and edtech sectors.
AdOnMo, an ad-tech firm based in Hyderabad, has secured approximately $7 million in its Series B1 funding round, marking its first significant investment since the Series A round led by Zomato last year. Healthcare expert Ravindranath Kancherla and his son Kancherla Pruthvinath contributed Rs 16.6 crore, while Qatar Insurance Company and ZNL Growth (Z Nation Lab) invested Rs 8 crore and Rs 1.80 crore, respectively. Additionally, a group of thirty-six individual investors, including Manish Kailash Chhabra, Vindhya Guduru, Vikram Malhotra, Usha Reddy Chigarapalli, and Desireddy Srinivasa Reddy, participated in AdOnMo’s Series B funding round.
Aeria, a platform focusing on tenant experience and asset management for commercial real estate, has secured $1.8 million in pre-seed funding. Kalaari Capital and Foundamental led the funding round, joined by AC Ventures, AL Trust, and other investors.
KreditBee, a digital lending platform, has secured $9.4 million in an extended Series D round from existing investors. Wiseanya Ltd led the round by contributing Rs 40.91 crore, while Motilal Oswal PE (via India Business Excellence) and Mirae Asset invested Rs 9.52 crore and Rs 1.15 crore, respectively. Premji Invest, MUFG Bank Limited, and NewQuest Capital also participated in the round with the remaining funds. Premji Invest holds the largest external stake at 23.44%, followed by Newquest Asia and Alpine Capital.
SydeLabs, a startup specializing in AI security and risk management, has secured $2.5 million in its seed funding round, with RTP Global leading the investment. Picus Capital also participated in the round, alongside notable angel investors including Kunal Shah and Sai Srinivas Kiran.
Skyflow, a provider of software services that securely stores user data for companies, has secured an additional $30 million to expand its Series B funding round. This latest investment round was led by Khosla Ventures, along with continued support from existing investors including Mouro Capital, Foundation Capital, and Canvas Ventures.
Sindhuja Microcredit, a next-generation microfinance firm, has successfully raised $14.5 million in its Series C funding round. The investment comes from GAWA Capital, through its vehicle Huruma Fund, and Oikocredit.
Mave Health, a mental healthtech startup based in Bengaluru, has secured Rs 6 crore in a pre-seed funding round, with leading contributions from All-In Capital and Utsav Somani’s iSeed Fund. This funding round also attracted investment from prominent investors such as Bharat Founders Fund, Deepinder Goyal of Zomato, Kunal Shah of CRED, Mohit Kumar, and Vatsal Singhal of Ultrahuman. Additionally, angel investors including Gaurav Agarwal of TATA 1mg, Nandan Reddy of Swiggy, and Rohan Verma of BreatheWellBeing, among others, participated in the funding round.
SingleInterface, a domestic SaaS platform, has secured $30 million in a funding round led by Asia Partners, an investment firm based in Singapore. PayPal Ventures also joined the round as a participant. The startup specializes in offering a range of tools aimed at assisting brick-and-mortar businesses in expanding their online presence. Its focus areas include digital marketing, customer engagement, and eCommerce solutions.
ONO, an agritech startup, has secured $1.31 million in a seed funding round led by Aeravti Ventures, with involvement from Indigram Labs. The startup aims to utilize the raised capital to improve the agricultural supply chain and create economic growth prospects for farmers and ecosystem stakeholders across India's expansive APMC/MANDI network.
Planys Technologies, a deeptech startup headquartered in Chennai, has secured $4 million in an ongoing pre-Series A funding round led by a varied group of investors. The startup funding round was led by Shell Oil Company, ONGC Startup Fund, MEMG Family Office, LetsVenture, Kris Gopalakrishnan, and Keiretsu Forum.
Metalbook, a full-stack metal supply chain platform based in Delhi, has reportedly secured $3 million from Northern Arc, a Chennai-based RBI-registered debt financing firm. The Series A funding was led by Rigel Capital, with participation from Stride Ventures, Foundamental, FJ Labs, Axilor Ventures, and Trifecta Capital Advisors.
In an extended Series A funding round, BeepKart, a comprehensive retailer of two-wheelers, has secured $6.5 million led by its existing investors. Participating in this round are Chiratae Ventures, Stellaris Venture Partners, and Vertex Ventures. This funding infusion will support the startup's expansion initiatives and strengthen its foothold in the market.
Vodex, a startup specializing in generative AI, has secured $2 million in a seed funding round, with prominent investors Unicorn India Ventures and Pentathlon Ventures leading the investment.
Arch0, a startup specializing in cloud security, has secured $1.25 million in a pre-seed funding round, with Leo Capital leading the investment. Additionally, a varied group of investors, including Village Global, Indian Silicon Valley Capital, Appreciate Capital, Supermorpheus, and others, participated in the round. This funding will support the expansion of the startup's core team and the enhancement of its artificial intelligence (AI) capabilities in cloud security operations.
Bambrew, a cleantech startup, has secured $7 million in a series A funding round, consisting of a blend of debt and equity. The funding was spearheaded by Blume Ventures, with participation from Blue Ashva Capital, Mumbai Angels, Indus Capital, as well as angel investors such as Sreevathsa Prabhakar, Mandeep Manocha, and RK Narayan.
ClaimBuddy, a platform offering assistance with health insurance claims, has disclosed raising $5 million in its Series A funding round. The investment was led by Bharat Innovation Fund, with participation from Japanese fund CAC Capital, as well as existing investors such as Chiratae Ventures and Rebright Partners.
Neysa Networks, a startup specialising in AI cloud and platform-as-a-service, has raised $20 million in seed funding. The round was led by Matrix Partners India, Nexus Venture Partners, and NTTVC. This funding will support the development of their generative-AI-cloud platform as a service and observability solutions for both Indian and global markets.
Recykal, a B2B waste management and recycling marketplace, has secured $13 million from a Category II scheme managed by 360 ONE Asset Management Limited.
EyeMyEye, a full-stack eyewear platform, has secured $2.5 million in a new tranche as part of its pre-Series A round. RBA Finance & Investments, Ashish Ramesh Kacholia and Sachin Shah participated in this new funding.
In a recent funding round, the medical diagnostics platform 5C Network has secured $3 million from Redwood India Healthcare Fund.
Sprinto, a compliance automation platform catering to SaaS companies, has successfully raised $20 million in a Series B funding round. The round was spearheaded by Accel, with continued support from existing investors Elevation Capital and Blume Ventures.
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