Comments
KOOH Sports, a health and fitness company, has closed a follow-on round of about ₹15 crore ($2.2 million), with existing investors HDFC, Faering Capital, Elevate Sports and the founders participating in this round. KOOH Sports will use the money to expand globally, take new product innovations to the market and for working capital requirements. It is now operating in 180 schools in 50 cities, 80 multi-sport academies in 25 cities. In the next 6-9 months, this is expected to increase to 200-220 schools and 100 academies.
FlexiLoans receives ₹100 crore
Marquee investors led by Sanjay Nayar, Chief Executive of KKR India, have together invested ₹100 crore in digital lending platform FlexiLoans Technologies in their personal capacity. The other investors are Vikram Sud, former head of operations and technology at Citibank; Anil Jaggia, former Chief Investment Officer, HDFC Bank; and, Narayan Seshadri, former Managing Director, KPMG’s advisory business. FlexiLoans will use the money for expansion and investment in its technology and marketing platform. According to the deal, EpiMoney, an NBFC founded by the four will acquire a stake in FlexiLoans, which will be the product platform.
Ventureast raises $83 million
Ventureast, an early-stage venture capital firm, has announced the first close of $83 million of a planned $150-million tech fund. It hopes to achieve final close in six months. It has already made its first investments from the new fund, in three ventures – FineMeAShoe, a footwear recommendation app; OS Labs, a platform that allows handset makers and app developers to deliver a good smartphone experience; and a digital health company. Ventureast also plans to put in money in over 30 ventures in the next 36 months out of the new fund.
$1-m seed funding for Remitr
A group of start-up founders and angel investors has invested $1 million as seed funding in Remitware Payments Inc, which has built a cross-border mobile payments platform Remitr that helps individuals and businesses make international payments and remittances. The money will be used to develop the product for global markets. It is live in the UAE and will be launched in Canada by the year-end. The investors include Pravin Gandhi of Seedfund, Vijay Shekhar Sharma of Paytm, Kunal Shah and Sandeep Tandon of FreeCharge, Vishal Gondal of Goqii, Nirmal Bhogilal of Batliboi, Singapore Angel Network, UAE’s Smart Start Fund, and Japan Vyas of Sixth Sense Ventures. Our Bureau
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.