Meesho Backer Good Capital Floats Second Fund, To Sign Bigger Cheques
Good Capital, an early-stage investor in unicorns such as Meesho and Lead school, has launched its second fund worth $50 million (₹410 crore) with a green shoe option of $15 million.
The VC firm, led by brothers and co-GPs Arjun and Rohan Malhotra, aims to back startups that are using AI in intelligent ways. However, it won’t just focus on AI businesses only. “The way we see the opportunity is that AI is enabling a lot of interface developments, both around growth as well as user engagement,”Arjun Malhotra said in an interview.
Its LPs are based in Singapore, Europe and the US. With the change in global factors, the firm expects more early-stage capital to flow into India, which is emerging as a bright spot amid tough markets worldwide.
Source : VCCircle
EV asset and lending platform Finayo has raised an undisclosed amount in a seed funding round from iAngels Network
The startup aims to use the funding to develop its technology stack, expand its operations across India and lend close to Rs 150 crore by the end of FY24.
Founded in 2022 by Brajendra Singh Tomar and Yogesh Prakash, Finayo’s proprietary technology automates the entire loan life cycle, from origination to disbursement, collection, repossession, and resale. In addition, it enables lenders to make risk assessments, which minimizes non-performing loans.
Source : VCCircle
Learn more about GIIN’s recent engagements in the Impact Investing Space in Asia
The Global Impact Investing Network's recent engagements across Asia underscore Asia’s fast-growing influence in the world of impact investing. These initiatives reflect the immense potential and promising market that Asia offers for driving positive social and environmental change regionally and globally.
Source : LinkedIn
Delve into new impact investing solutions at the GIIN Forum 2023, to be held in Copenhagen, Denmark on Oct 4-5.
Solution Sessions are education-based sessions that will share promising and scalable solutions to some of the planet's most pressing challenges. They will focus on specific topics such as "Ambition and Accountability in Climate Investing, "How to Profitably Invest in Marine Restoration," and "Climate Solutions for the Low-Income Consumer: An Inclusive Transition to a Low-Carbon Economy."
Solution Sessions will run throughout Oct 5, and will be presented by Morgan Stanley, Nuveen, a TIAA company, Mikro Kapital, Wellington Management, Walton Family Foundation, and Kayne Anderson Real Estate.Source : LinkedIn
Early-Stage VC Firm RTP Global Announces $1B Fourth Fund
RTP Global, which has startups including CRED, Classplus, and DeHaat in its India portfolio, will invest across sectors such as fintech, ecommerce, AI/ML, edtech and enterprise software.
The $1 billion fund will earmark $660 million for investment in new startups at the early stage, and $340 million into “breakout” companies—high-performing entities in its portfolio.
Source : YourStory
Omnivore Ups Target Corpus For Third VC Fund, Hits First Close
Agritech-focused venture capital firm Omnivore has marked the first close of its third fund at $150 million (about Rs 1,230 crore) and now aims to secure more commitments from limited partners than it initially set out to raise last year.
The firm aims to close the Omnivore Agritech and Climate Sustainability Fund 3 at $175-180 million next year, managing partner Mark Kahn told VCCircle Wednesday.
Omnivore, which has backed startups such as DeHaat, BharatAgri, BioPrime, ReshaMandi and Ecozen, floated the fund in April 2022 with an aim to raise $130 million.
Source : VCCircle
Arkam Ventures launches $180 million Fund II
Early-stage venture capital firm Arkam Ventures has announced its Fund II with a target corpus of $180 million to back technology-focused startups. The fund will tap into top-tier global institutional investors and family offices for investments, as per a statement issued by the firm. The firm’s first fund includes British International Investment, SIDBI, Evolvence, Quilvest, and others as limited partners.
Fund II will continue to focus on ‘middle India opportunity’ and aims to build tech solutions for the next 400 million Indians driven by digitisation. The new fund will back a portfolio of 20 startups in existing sectors as well as new sectors, including manufacturing technology and electric vehicles.
Source : YourStory
PharmEasy, Udaan-Backer EvolutionX Writes $24 Mn Cheque To Lendingkart
Fullerton-backed lendingtech firm Lendingkart has raised Rs 200 crore ($24.4 million) in long-term debt funding from growth-stage debt financing platform EvolutionX Debt Capital.
Lendingkart, which also counts Bertelsmann, Mayfield India, Saama Capital, Sistema Asia, and India Quotient as its backers, plans to use the funds to drive its core business growth as it plans to increase the number of its MSME (micro, small and medium enterprises) borrowers.
The company will also invest a part of the corpus to improve its tech capabilities that support its lending platform. Further, in partnerships with banks and NBFCs (non-banking financial companies), it is planning to launch new financial products such as credit cards for MSMEs, personal loans for self-employed individuals, gold loans, etc.
Source : VCCircle
Inflection Point Ventures Makes A Dozen Exit Moves, Clocks High Return
Angel investing platform Inflection Point Ventures (IPV) said it has announced 12 exits giving an internal rate of return (IRR) of 160% to its investors.
IPV has generated an IRR of 226% on a partial exit of Buyofuel and 186% IRR on partial exit of Kazam. It also exited its investments in an ad-tech startup with an IRR of 302% with a final money-over-money (MoM) for the exiting investors of more than 25x, the firm said.
Apart from it, IPV has partially exited companies like peAR, Cercle X, EnsuredIT, LoanKuber, Raaho and Streak during the year, generating an average IRR of 162%.
Source : VCCircle
Introducing two powerhouse briefs in this series, 2023 GIINsight: Impact Investor Demographics and 2023 GIINsight: Impact Investing Allocations, Activity & Performance.
Discover data-driven findings and actionable insights for Impact Investors with our latest release! Introducing two powerhouse briefs in this series, 2023 GIINsight: Impact Investor Demographics and 2023 GIINsight: Impact Investing Allocations, Activity & Performance.
Dive into these groundbreaking research briefs that lift data off the page and into the hands of investors to inform investing allocations and activity.Source : LinkedIn
'Providing food has all kinds of profound impact... TAPF has provided a successful blueprint for how things should be done at scale.' - Shamika Ravi, Economic Advisory Council to the Prime Minister
The D&A team would like to congratulate The Akshaya Patra Foundation, Delhi on its 5th anniversary. TAPF is set to add their second kitchen in Delhi, bringing it to a total of 68 kitchens catering to providing mid-day meals to over 40,000 children every day. The D&A team is a proud supporter of the great work done by TAPF.
Source : LinkedIn
Oben Electric has secured $4.8 million (Rs 40 crore) in an extended pre-Series A funding round
EV startup Oben Electric has secured $4.8 million (Rs 40 crore) in an extended pre-Series A funding round from a host of investors including Stride Ventures and Indian Renewable Energy Development Agency (IREDA), Mumbai Angels and existing investors We Founders Circle, Kalvani Family Office and US India EV Angels.
The funding will be used to start the deliveries of their electric bike, fulfill the existing order book, increase production capacity and improve the distribution network.
Source : VCCircle
BillionElectric, an e-Mobility as a Service (eMaaS) platform, said it has raised $10 million in a seed round of equity and asset lease funding.
HNIs (high net-worth investors) and family offices participated in the funding round.
Gujarat-based BillionElectric says that it aims to provide a wide range of services, including electric vehicles, charging infrastructure in collaboration with CHARGE+ZONE, and an integrated e-Mobility platform. The platform also plans to support commercial electric vehicles. The company will use the fresh funds to deploy electric tarmac buses at the Bengaluru International Airport and develop a mid-mile heavy electric trucks platform, according to a statement.Source : YourStory
Sustainable Development Solutions Network's 2023 Sustainable Development Report is out
The Sustainable Development Report (SDR) reviews progress made each year on the Sustainable Development Goals since their adoption by the 193 UN Member States in 2015. At the halfway mark to 2030, the Sustainable Development Report 2023 takes stock of progress made and discusses priorities to restore and accelerate SDG progress. Published on the eve of the 2023 Paris Summit for a New Global Financial Pact, this year’s edition focuses specifically on the need to scale up development finance and to reform the global financial architecture to support the SDGs.
Source : LinkedIn
Healthtech startup Karma Primary Healthcare raises an undisclosed amount in the Series A funding round
Healthtech startup Karma Primary Healthcare has raised an undisclosed amount in a Series A funding round from a consortium of investors including Innospark Ventures, 1Crowd, Innovative Directions, Aanshi LLP and Social Innovation Circle, among others.
Founded by Jagdeep Gambhir, Karma Primary Healthcare is a rural-area-focused healthcare startup that provides real-time online video consultations and delivers healthcare to users via its facility-based, paramedic-assisted clinics. These clinics provide clinical treatment, medicines and diagnostics and partner with other public health organizations for disease-specific programs like Covid, diabetes and others.
Source : VCCircle
Shell India launches new start-up programme
Shell India is introducing a fresh initiative within its start-up accelerator program, Shell E4, called the Net Zero Challenge. As part of the initiative, Shell India will choose two start-ups to receive funding of $15,000 each, a top company executive told businessline.
The program consists of two phases: “During the initial three months, start-ups will undergo intensive mentorship in boot camps, while the subsequent phase will provide the opportunity for the five selected start-ups to secure MVP funding, which will span an additional 3-4 months,” explained Debasis Goswami, General Manager of Shell E4 Startup Hub.
Source : Hindu Business Line
India's Avaana Capital hits $70m in first close of climate fund
ndia’s climate-focused venture capital firm Avaana Capital on Wednesday said it has secured $70 million in commitments for the first close of its Climate and Sustainability Fund. The fund is targeting a total corpus of $100-125 million and will focus on three sectors: energy transition & resource management; mobility & supply chains; and sustainable agriculture & food systems.
Source : Deal Street Asia
Blume Ventures makes first close of $25 million for new opportunity fund
Early-stage venture capital firm Blume Ventures has made the first close of its new opportunity fund at Rs 200 crore (around $25 million), about half the final target that it expects to achieve by Augus
Blume will use three-fourths of the corpus to purchase assets held by its existing funds, giving investors in those funds an exit option, the VC firm’s partners told ET.
Source : Economic Times
Waterfield Advisors introduces a discretionary investment platform
Having pioneered investment advisory in India, we recognised the limitations of non-discretionary investment management for certain clientele. We discovered a specific group of clients who desired to minimise their time commitment and involvement in portfolio decisions. Being a company dedicated to addressing the complexities of managing substantial wealth for our clients, Waterfield developed a discretionary platform that leverages meticulous agility in portfolio execution to minimize opportunity loss arising due to delayed action. The platform needed to act like an outsourced investment office of the client and we're thrilled to have achieved precisely that. Find out more here.
Norwegian Climate Investment Fund to invest in Indian wind power plant
Enel Green Power has secured equity and loan guarantees totalling INR 4bn ($53.9m) from Norway's largest pension fund KLP and state enterprise Norfund for a 168 MW wind power project in Gujarat, India. Enel has a 25-year power purchase agreement and the facility is expected to produce approximately 700 GWh per annum, avoiding approximately 573,000 tonnes of carbon dioxide per year
Source : Economic Times
Dallas Venture Capital (DVC), a cross-border venture capital firm, has received commitments of Rs 60 crore from Self Reliant India (SRI) Fund and NewcrestImage.
Source : YourStory
Navadhan has raised $1.5 million (Rs 12.3 crore) in a seed funding round co-led by fVaranium NexGen and Anicut Capital
Founded by Nitin Agrawal, Vijay Haswani, Anirudh Ramakuru and Amit Biswal, Navadhan is a rural-fintech startup with an NBFC license, whose platform helps micro, small and medium enterprises (MSMEs) to secure loans from institutions like NBFCs and Banks, facilitating seamless connections.
The startup counts lenders like Ugro, Vivriti, Northern Arc, Caspian, Unitus, and TruCap, as part of its network and claims to have enrolled 2 lakh customers and disbursed over Rs 100 crore.
Source : VCCircle
Capital Small Finance Bank Gets Equity Funding From Max Life Insurance
Capital Small Finance Bank, India's first small finance bank, has secured an equity investment from Max Life Insurance Company Limited for a minority equity stake in the lender at a valuation of over Rs 1,600 crore.
Source : VCCircle
Unnati Agri has raised pre-Series B funding of $3.5 million
Agriculture supply chain and financial services startup Unnati Agri on Wednesday said that it has raised pre-Series B funding of Rs 28.5 crore ($3.5 million) led by the family office of bio-product agri firm IPL Biologicals.
The round also saw existing investors Incofin Investment Management, Nabventure, and Orios Ventures in this round.
Source : VCCircle
Starya Mobility has raised $2 million (Rs 16.3 crore) in an undisclosed funding round from ah! Ventures High Tables Platform and Exedy Clutch India.
Founded in 2018, Bengaluru-based Starya Mobility is a manufacturer of electric power train and retrofitting of gearless internal combustion (IC) engine scooters.
Source : VCCircle
Mykare Health has raised $2.01 million
Mykare Health has raised $2.01 million from accelerator program operators OnDeck ODX, Huddle, and others. The seed round also drew in renowned investors such as Avaana Seed, Endurance Capital, F Health, VeritasX, Stanford Angels & Entrepreneurs, Phoenix Angels, Snap Asia Pacific president Ajit Mohan, Nazara Technologies joint managing director Nitish Mittersain, BigBasket founder Hari TN, besides other founders and senior executives
Source : TiE Mumbai
Cloudbankin secures $400K funding
Cloudbankin has successfully raised USD 400K in funding from Angel investors, Upekkha, SaaS accelerator and fund, and Kube VC - a global venture capital firm.
Prominent Fintech angel investors including Ramanathan RV, CEO at Hyperface, Mohan Karuppiah, CEO at IppoPay and Magendra Negi, Head of Alliances & Partnerships (Financial Services Solutions) from one of the leading Global Technology companies extended their support and participated in the funding round.Source : Business Insider
Satyukt Analytics has secured $1.2 million in a pre-Series A funding round from Nabventures
Founded in 2018, Satyukt deploys satellite technology and machine learning to provide SaaS-based advisory services to farmers. Satyukt’s proprietary technology can measure farm soil nutrient content within minutes enabling users to assess soil quality on their mobile devices without having to visit the farm.
Source : VCCircle
Buyofuel,has raised $550,000 in a funding from revenue-based financier Recur Club.
Founded in 2020 by Kishan Karunakaran, Buyofuel offers all types of biofuels and organic wastes which helps fuel consumers to switch to biofuels and allows biofuel manufacturers to access organic wastes, thus connecting raw material aggregators, biofuel manufacturers, consumers and waste generators
Source : VCCircle
Indifi Technologies has raised Rs 290 crore in its Series E funding round
Indifi Technologies, a lending platform focused on the MSME segment, has raised Rs 290 crore in its Series E funding round. The round was led by funds managed and advised by ICICI Venture, along with participation from existing investors including British International Investment, OP Finnfund Global Impact Fund I, Omidyar Network India, Flourish Ventures, and CX Partners.
Source : YourStory
Climake and Unitus Capital hosted 'State of Climate Finance 2023' on the 8th of June, 2023
The event was one activity for the ecosystem foster discussions and engagement on improving the involvement of finance in addressing the climate crisis, by backing innovative solutions. Find out more about the event here:
Acumen releases their Annual Report 2022
In 2022, Acumen invested in new businesses, celebrated extraordinary wins by those in our community, and reached an incredible milestone: over 500M+ lives impacted through our philanthropic Patient Capital work. Read more here:
Aviom India Housing Finance has secured $30 million in a Serie D equity investment round led by Nuveen
C4D Partners, which had invested in the startup's Series B funding round, announced a partial exit in the round. Besides Nuveen and C4D Partners, Aviom has raised funds from Japan’s Gojo and Company and India-based Sabre Partners.
Source : YourStory
Kyte Energy Pvt. Ltd. has raised $363,854 (Rs 3 crore) in a funding round from ah! Ventures' angel platform, Soonicorn Ventures, among others
Kyte Energy currently produces two EV scooters and plans to launch a third one in a few months. It claims to have sold 5000 scooters through its 30 dealer stores across Maharashtra and Gujarat and with the recent product launch and the revised subsidy policy, it claims to have seen a 200% surge in demand.
Source : TiE Mumbai
Amp Energy India has secured up to $250 million from SMBC Bank of Japan, ICG and AIIB
Energy transition platform Amp Energy India has secured up to $250 million (~Rs 2,061 crore) from SMBC Bank of Japan (Sumitomo Mitsui Banking Corporation), ICG (Intermediate Capital Group), and AIIB (Asian Infrastructure Investment Bank). Amp Energy India, with a total portfolio of 2.7GW-plus spread across 17 states in the country, said it will utilise the $250 million funding to fund the growth of the company,
Source : YourStory
US pension fund makes commitment to India's Alkemi Growth Capital
The Teachers’ Retirement System (TRS) of Illinois has made a $5-million commitment to Alkemi Growth Capital, an investment firm based in New Delhi, India, that supports minority and women-owned business enterprises.
Source : Deal Street Asia
CaHa Capital Floats Climate Studio
Impact advisory firm CaHa Capital has set up a climatetech focused venture studio, a likely first in India, to focus on building climatetech ideas into startups in emerging markets, starting with India and Indonesia.
Source : VCCircle
RevFin has raised $5 million in debt from US International Development Finance Corp
The startup, which raised $10 million in October last year from Green Frontier Capital (GFC) and LC Nueva Investment Partners, told YourStory it also hopes to use the funding to expand its commercial fleet, including its ride-sharing taxis. Founded in 2018 by Sameer Aggarwal, Revfin provides commercial fleet drivers loans that it underwrites using proprietary underwriting methods that include psychometrics, biometrics, telematics, gamification etc.
Source : YourStory
Event Alert! Parivartan, a landmark climate-tech summit
Parivartan takes place on the 27th of June, 2023, at the India Habitait Centre, New Delhi.
It’s a great opportunity for founders, investors, ecosystem partners, and thought leaders to engage in conversations around everything climate-tech. Our member, Avaana Capital, is a key partner for this event.
Source : Avaana Capital
Proklean Technologies has secured $4 million from Raintree Family Office
Founded in 2012 by Sivaram Pillai and Bala Chandrashekar, Proklean Technologies has developed proprietary technologies using renewable input materials to make products that provide solutions to problems such as pollution caused by multiple industries and depletion of renewable resources.
In 2022, the startup raised Rs 6.5 crore in venture debt from Caspian Debt, the lending arm of impact investment firm Caspian Impact Investment Adviser.
Source : VCCircle
Achieving Women Equity (AWE) Funds has announced the first close of its maiden fund in India
The gender-focused investor has raised $15 million and is targeting an overall fund of $45 million with a green-shoe option of an additional $15 million. The platform will invest across sectors including climate and sustainability, food and agriculture, healthcare, education, and fintech while promoting gender equity and climate action as a differentiated strategy to seek commercial returns for its investors.
Source : YourStory
EV startup River raises $15 mn in funding round led by Dubai's Al Futtaim
Besides, other investors including Lowercarbon Capital, Toyota Ventures, Maniv Mobility, and Trucks VC also participated in the investment round, River said in a release.
The fresh capital infusion will help the company boost its manufacturing capabilities and also in the upcoming market launch of its maiden product -- Indie.
"River raised a USD 15 million investment round led by Dubai's multinational powerhouse, Al Futtaim Group," River said in the statement.
The diversified group has five operating divisions -- automotive, retail, real estate, healthcare, and financial services -- spread across over 20 countries, as per the statement.
Source : Business Standard
General Diagnostics raises $10.5 million from InvAscent
The funding infused by the healthcare-focused private equity firm is aimed at further enhancing GD’s technological capabilities and building in-house logistical solutions for the fast movement of biological samples. The company informed that it will also use the funds to expand its network of laboratories across India.
Source : Economic Times
Sequoia rebrands to Peak XV Partners in India and SEA
The US and Europe-focused unit will retain the parent name – Sequoia Capital. The China unit, on the other hand, will be called HongSham. The three firms will be headed by Roelof Botha, Neil Shen and Shailendra Singh, respectively.
“We are excited to share that Sequoia India & Southeast Asia (SEA) will rebrand to Peak XV Partners and will operate as a fully independent firm. Our new name, Peak XV was the original name given to Mount Everest,” said Shailendra Singh on behalf of Peak XV Partners.
Source : Entrackr
Red Seer Strategy Consultants and Pine Labs release "The Future of Online Payments" Report
The report highlights growth projections for the forecast period FY23-26 and shares insights on segments like UPI, Bharat Bill Payment System (BBPS), Embedded Finance, and e-commerce. As per the report, UPI is projected to clock 30-35 per cent growth in transaction value by FY26, with online food delivery and e-commerce already witnessing over 60 per cent use of UPI as a preferred payment mode.Click here to read the complete report
Webinar Alert! Nishith Desai Associates host "Angel Tax - Impact on PE/VC Investments"
In India, the concept of angel tax has hounded several start-ups and acted as an impediment in raising capital. With the expansion of applicability of angel tax provisions on non-resident investors, investment by foreign investors in Indian companies may now be subject to angel tax in case such investment is made at a price higher than fair market value. Registrations: https://lnkd.in/dVZC53kc
Sustainable Finance Initiative (SFi) HOSinaugural SFi Family Impact Summit
Sustainable Finance Initiative (SFi) in its inaugural SFi Family Impact Summit: Where Capital Meets Purpose – bringing together more than 100 impact investing and business leaders from around the region.
The program featured keynotes speeches, lightning pitches, fireside chats and small group discussions to share experiences and delve into ways to address common challenges in achieving scalable impact. Find out more here: https://www.sfiimpactsummit.com/Source : The Caravel Group
82Volt has raised $605,261 In a seed funding round from undisclosed angel investors.
“Our solutions are built keeping in mind the Indian grid conditions and provide automakers, electric vehicle supply equipment (EVSE) suppliers, and commercial businesses to benefit from adopting clean transportation through a robust charging network. In line with this, we aim to create an end-to-end EV charging solution that includes fast and slow charging solutions and energy storage solutions,” said Akshay Sasikumar, chief executive officer, 82Volt Technologies.
Source : VCCircle
Damroo has raised an undisclosed amount in a seed funding round from a host of investors including startup accelerator Marwari Catalysts
Founded by Ram Mishra, Damroo is a platform for regional and independent artists, wherein they can earn, grow and own the copyright of their music in a transparent environment. It houses diverse musical genres, including folk, classical, devotional, contemporary, etc and is also functional in the domain of Sync License Rights.
Source : VCCircle
Piper Serica Angel Fund surpasses Rs. 100 crore fundraising target
Launched in October 2022, Piper Serica has invested in companies, including ALT Mobility, a full-stack EV leasing platform offering mobility-as-a-service for commercial vehicle users; escrow platform Castler; Floworks, an AI-enabled sales team assistant; Crediwatch, an information intelligence platform to offer financial organisations big data risk analysis; Zippee, a physical network of micro warehouses (dark stores); Driffle, a marketplace built for gamers; and Oditly, an enterprise-scale SaaS application enabling businesses to digitise and automate the lifecycle of quality, safety, and compliance processes.
Source : YourStory
CleanMax Enviro Energy Solutions has raised $360 million in an equity round from Brookfield Renewable through the Brookfield Global Transition Fund
Through this investment, Brookfield Renewable will have a controlling stake in CleanMax, and will work with existing shareholders and management to drive its growth in the commercial and industrial (C&I) segment in India.
Source : YourStory
Edtech startup Klassroom Edutech has secured an undisclosed amount of funding from Bollywood actor Suniel Shetty.
The Mumbai-based startup plans to use the funding to boost the startup's social initiatives aimed at bridging the education gap for underprivileged students in India.
Founded in 2016 by Alka Javeri, Dhruv Javeri, and Dhumil Javeri Klassroom Edutech operates both offline and online and claims to have over 60,000 students across 500 cities via a network of 150 offline centers. It also claims to have recorded 10X revenue growth in the last two years.Source : VCCircle
sentra.world has raised $2 million in a seed funding round led by venture capital firm Avaana Capital
The round also saw participation from RPG Ventures and Golden Sparrow Ventures.
Founded by Harsh Choudhry and Vikas Upadhyay, sentra.world is a SaaS platform that helps industrial businesses on their net-zero journeys by providing comprehensive methods to measure emissions performance. Through its SaaS products, sentra.world enables businesses to decarbonise their value chain, and bring sustainability across the industrial sector. They are currently operational in India, the Middle East, Southeast Asia, and Europe.
Source : VCCircle
Citi India and ISDM launch Centre for Innovative Finance and Social Impact (CIFSI)
The centre in the national capital will help in raising dialogue among public and private stakeholders to tackle developmental challenges, a joint statement said.
The centre and its objectives resonate with Citi's commitment to seed innovation in financing tools that aid and accelerate social impact in crucial areas such as climate and poverty, Citi India CEO Ashu Khullar said.
The development community is utilising innovative financing tools, such as impact investing and social impact bonds, to draw funds towards programmes that are aimed at solving global challenges, such as alleviating poverty, improving living standards, and conserving the environment, it said.
CIFSI will serve as a platform for social purpose organisations, academia, research, and practitioners to identify and ensure access to social financing approaches for the future
Source : Business Standard
mooMark Becomes the First Indian Private Dairy to Offer Heat Index Insurance Plan to Farmers
Stellapps Technologies Private Limited’s fintech arm mooPay Private Limited, in partnership with IBISA NETWORK, HDFC ERGO General Insurance & GramCover, has launched a unique Heat Index-based insurance plan for farmers. It provides financial compensation to mooMark dairy farmers to offset income loss due to a fall in milk productivity during heat waves in summer.
This is a big step towards mitigating the impact of climate change on farmers by providing them with financial support, promote resilience, and foster long-term agricultural sustainability.
Roy Swan of the Ford Foundation joins the GIIN's Board of Directors!
"The GIIN is honored to welcome Roy Swan of the Ford Foundation to our Board. Roy's expertise and commitment to impact investing aligns perfectly with GIIN's mission," says Amit Bouri, CEO & Co-founder of GIIN. "The addition of Roy to our Board will enhance the GIIN's work to scale impact investing with integrity in order to direct more capital into solutions that address our most pressing challenges."
Source : GIIN
KarmaLife has secured $5.3 million in an extended pre-Series A funding round co-led by Krishna Bhupal’s family office and Artha Venture Fund.
The round also saw participation from Net Graph Investments, Singularity Ventures, LogX Venture Partners and other angel investors.
Founded in 2020 by Rohit Rathi, Naveen Budda, and Badal Malick, KarmaLife is an earnings-linked financial solutions provider for the gig and blue-collared workforce. It operates in a business-to-business-to-consumer (B2B2C) model and counts organizations, like Flipkart, Elastic run, Uber, Porter, Delhivery, as partners.
Source : VCCircle