Lightspeed Venture Partners

Dec 13, 2019, 06.01 AM IST



Blume Ventures puts $1.5 million in TapChief

The startup plans to use the funds to expand its network of professionals, enhance its product offering and integrate its technology with existing enterprise people management systems.

ReNew Power partners with GS E&C to execute solar project in Rajasthan

ReNew Power will hold a 51 per cent equity under the partnership, whil...

ReNew Power partners with GS E&C to execute solar project in Rajasthan

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  • Separately, the firm has also closed a Rs 45 crore seed-stage fund — Rising-I fund — that will back idea stage and seed-stage companies with cheque sizes of Rs 50 lakh to Rs 3.5 crore, and which has been backed by a clutch of existing and new Limited Partners.

    The platform works with more than 120 corporate houses such as Tata Croma, Future Group and Vedanta. The company plans to use the fresh capital to speed up growth by hiring senior leaders. It also intends to develop new products and use the funds for acquisitions.

    The company also announced that is has been accepted into the Microsoft for Startups program. With this relationship, Microsoft customers can leverage Observe.AI’s platform through its Azure marketplace.

    Ninjacart connects farmers to retailers via a network of more than 200 collection centres and 1,200 warehouses across India. It moves over 1,400 tonnes of fresh produce per day.

    The company, promoted by Boris Zha, a Singaporean national, raised the funds from Korea Investment Partners (KIP), SamsungVenture Investment Corporation (SVIC), UOB Venture, 10 Fund, CVCapital, Zero2IPO Ventures and M&S Partners among others.

    The digitisation platform is a marketing and data analytics startup that enables local retailers to attract customers with a mobile-based loyalty programme.

    "This round comes in at the right time where the aim is to invest in technology and touch more than 10 million lives within the next financial year," said Annanya Sarthak, Co-founder, Awign.

    Aviva sells insurance policies through DBS and Bank of Maharashtra and through corporate agency tie-ups.

    These key hires come as the company embarks on an aggressive expansion drive to grow to 15 million homes across 40 cities in the next 18 months.

    Mohandas Pai said that liquidity and valuations shouldn’t be concerns for companies seeking to list, as the market is “flush with money” and India investors have shown a willingness to pay up for growth stocks.

    JM Financial and Axis Bank will manage the issue, said one of the people cited above.

    The funds would be utilised towards retail expansion, marketing and launching an integrated digital service.

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