Eduvanz receives ₹13-cr funding
Eduvanz Financing, a Mumbai-based skills fintech NBFC, has raised about ₹13 crore ($2 million) from Unitus Ventures and the Michael & Susan Dell Foundation to provide financial access to high-quality skills education. Eduvanz has built a portfolio of over ₹12 crore with a borrower base of over 1,000 students.
Mswipe gets ₹210 cr in Series E
Mswipe Technologies Pvt Ltd, an independent merchant acquirer and point-of-sale network provider, has raised about ₹210 crore ($30 million) in a Series E round. A bulk of the money from existing investors — Falcon Edge, B Capital, Epiq Capital and DSG Growth Partners — will be used for new initiatives. Matrix Partners India continues to stay invested in the company. Mswipe has over 400,000 merchants on its platform.
Lavelle raises ₹13 crore
Bengaluru-based Lavelle Networks, which is a software defined networking platform, has raised about ₹13 crore ($2 million) in a Series A round led by YourNest Venture Capital. Existing investor Ideaspring Capital, KAAJ Ventures and ASM Technologies Ltd participated in this round. The company will use the money to tap into key digital transformation market opportunities.
Nexus, Omnivore invest in Intello
Nexus Venture Partners and Omnivore have invested about ₹13 crore ($2 million) in a seed round in AI-focussed agritech start-up Intello Labs. The company is leveraging AI tools, including computer vision and deep learning to build a platform for grading and quality monitoring of agricultural commodities.
Panacea secures ₹992-cr funding
India Resurgence Fund, promoted by Piramal Enterprises and Bain Capital Credit, has invested ₹992 crore in Panacea Biotec, a New Delhi-based pharmaceutical and biotechnology company. Panacea will use the money for a one-time settlement with lenders, general working capital requirements and to grow the business.
General Atlantic invests in Rubicon
Private equity firm General Atlantic has acquired a significant stake in drug development company Rubicon Research. General Atlantic is committing up to ₹700 crore ($100 million) of primary capital and has acquired the stake held by the existing private equity shareholders.