Tracking deals: April 28, 2020

Karbon, a corporate credit card for Indian and South-east Asian start-ups, has raised about ₹7.3 crore ($1 million) in a seed round led by Orios Venture Partners, Whiteboard Capital and others. Karbon brings access to credit to the under-served market of early-stage start-ups as they were outside the purview of a traditional bank’s credit card. The money will be used for expanding the team and improving the product.

Bengaluru-based Setu, a fintech API infrastructure company, has raised about ₹110 crore ($15 million) in a Series A round led by Falcon Edge and Lightspeed Venture Partners US. Existing investors Lightspeed India Partners and Bharat Inclusion Seed Fund also participated in this round. Setu will use the money to strengthen the team, roll out a suite of new products and improve the technology infrastructure. Setu connects regulated financial institutions to other companies that wish to offer financial services to their customers.

EWar Games, a Bengaluru-based e-sports and real-time gaming start-up, has raised about ₹1.45 crore ($200,000) from the angel investment arm of House of Jindals and Jeet Banerjee, Founder, Gameplan. The company will use the money to improve the user experience of the product, on marketing and brand promotion.

FarEye, a logistics SaaS platform, has raised about ₹180 crore ($25 million) in a Series D round led by M12 (Microsoft’s venture fund) with participation from Eight Roads Ventures and Honeywell Ventures. Existing investor SAIF Partners also participated in the round. The company will use the money to enhance the platform’s predictive capabilities, increase platform partnerships, expand into new markets and grow the team in Europe, Asia-Pacific and the US. – Our Bureau