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Lendingkart Technologies, a fintech company that provides working capital to SMEs, has raised ₹70 crore ($10.1 million) from Singapore-based Sistema Asia Fund and existing investors Bertelsmann India Investment, Mayfield India, Saama Capital, India Quotient and Darrin Capital Management. With this round, the company has raised a total of ₹534 crore – ₹243 crore in equity and ₹291 crore in debt. The latest round will help Lendingkart increase its loan book and strengthen its technology and analytics capabilities.
OncoStem Diagnostics gets ₹40 cr
OncoStem Diagnostics, a Bengaluru-based oncology-focussed start-up, has raised about ₹40 crore ($6 million) in a round led by Sequoia India with existing Artiman Ventures participating. The company, which focusses on personalised cancer treatment planning, will use the funds on research and development, develop tests for oral, brain and colon cancer and automate these tests.
IFC invests ₹650 cr in Power2SME
IFC, the private sector financing arm of the World Bank, has invested about ₹650 crore ($10 million) as equity in Power2SME, an e-commerce platform that helps small and medium companies source raw materials at bulk prices and get working capital without collateral. IFC will also advise Power2SME to expand beyond the 14 States it is now present in, improve its ability to provide working capital to SMEs by roping in more banks as partners and also increase by nearly 10 times the number of users on its platform.
₹32-cr funding for CreditVidya
Fintech start-up CreditVidya, which provides customer profiling, credit risk assessment and fraud detection raises, has raised about ₹32 crore ($5 million) in a round led by Matrix Partners India, with existing investor Kalaari Capital also participating. The company will use the money to add a range of fraud and verification services to its existing big data underwriting platform.
Zomato acquires Runnr
Zomato, an online restaurant discovery and food delivery company, has bought out food delivery and on-demand logistics start-up Runnr, in an all-stock deal. Runnr will continue to function as an independent logistics firm within Zomato, catering to others, including pharmaceutical, grocery and e-commerce clients. – Our Bureau
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