Detect Technologies, an IITM-incubated Internet of Things (IoT) start-up, has raised about ₹24 crore ($3.3 million) in a Series A funding round led by SAIF Partners. Bharat Innovation Fund, existing investor Axilor Ventures and BlueHill Capital, besides members of the Keiretsu Forum participated in this funding. Detect has two products – GUMPS (Guided Ultrasonic Monitoring Pipelines System) to monitor industrial pipelines and NOCTUA, a drone to inspect industrial structures. It will use the fresh funds to expand to global markets and increase production.
Perpule receives ₹34-cr funding
Bengaluru-based Perpule, an omni-channel retail tech company, has raised about ₹34 crore ($4.7 million) in a Series A round from Prime Venture Partners, Kalaari Capital and Venture Highway. It had raised $650,000 in a seed round from Kstart, the seed fund of Kalaari Capital, Venture Highway and Raghunandan G, co-founder of TaxiforSure, in 2017. With the latest fund raise, Perpule has got a little over ₹40 crore from investors. The company will use the fresh funds to expand into more retail outlets across 10 cities in the next year.
Engineer.ai in Series A funding
Engineer.ai, which develops human-assisted AI platform that helps build digital products, has raised about ₹210 crore ($29.5 million) in a Series A round, from Lakestar, Jungle Ventures and SoftBank’s DeepCore. The company will use the money for engineering purposes and acquiring customers.
FarEye acquires Dipper
Delhi-based FarEye, a Software as a Service logistics management company, has bought IoT platform Dipper for an undisclosed sum. This deal will help create a digital freight ecosystem that connects all logistics stakeholders on one platform. It involves data analytics to track and trace freight, optimised movement while maintaining cost efficiency.
Venture Catalyst invests in CleanseCar
Venture Catalyst has invested ₹3.5 crore in CleanseCar, a mobile-based car service start-up. CleanseCar aims to organise the daily car wash industry. The company will use the money to grow the business. It charges ₹499 for washing hatchbacks, ₹599 for sedans and ₹749 for SUVs. Started in March, CleanseCar offers its services in Bengaluru and Chennai. It now cleans over 2,000 cars daily.
Angel funding for Biizlo
Biizlo, a mobile-app based home security management solution, has raised ₹3.5 crore in an angel round from the Mumbai-based Eagle Group. It will use the money to grow the business. Our Bureau