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Swaayatt Robots Secures $4 Million Funding to Advance Autonomous Driving Technology

By
Garima Bansal
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0

Swaayatt Robots, an autonomous driving startup based in Bhopal, has announced the closure of a $4 million funding round, marking a significant milestone in its journey to revolutionize the automotive industry. Founder Sanjeev Sharma revealed that the investment, led by unnamed US-based investors, has positioned Swaayatt at a valuation of approximately $151 million.

This funding round is part of a larger financing endeavor, with plans to secure additional capital to reach a valuation of around $175 million. Sharma anticipates raising an additional $50 million in a pre-Series A round within the next 6-7 months. The influx of funds will fuel Swaayatt’s expansion into key markets such as North America, the UK, and the Middle East, as reported by Analytics Drift.

Swaayatt’s ambitious roadmap includes significant investment in research and development (R&D) to enhance its autonomous driving technology. Sharma articulated, “Going forward, we will be significantly scaling up our R&D in all frontiers of autonomous driving, specifically pushing the boundaries in unsupervised and reinforcement learning to showcase our sustainably scalable Level-5 autonomous driving technology architecture.”

Established in 2015 by Sanjeev Sharma, Swaayatt has distinguished itself through its proprietary algorithms and unparalleled capabilities in autonomous navigation, particularly on the complex and dynamic roadways of India. The startup aims to achieve Level-5 autonomous driving, the highest level of autonomy as categorized by the Society of Automotive Engineers International.

Prior to this funding round, Swaayatt secured $3 million from undisclosed US-based investors in 2021, enabling the startup to conduct over 80 demonstrations of human-less driving vehicles. Sharma’s initial investment of INR 80 lakh during the bootstrapped phase laid the foundation for Swaayatt’s pioneering position in artificial intelligence and autonomous driving technology.

While the concept of driverless cars is yet to reach widespread adoption, industry projections estimate the autonomous driving market to become a $300 billion to $400 billion revenue opportunity by 2035. Sharma emphasizes Swaayatt’s distinctiveness, citing its Level-5 autonomous driving technology capability, which consumes 80% less energy than competitors. As Swaayatt continues its journey towards reshaping the future of mobility, the funding injection will accelerate its efforts in pioneering safer, more efficient autonomous driving solutions.

LogicLadder Secures $2.5 Million in Series A Funding to Drive Global Expansion

By
Garima Bansal
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0

LogicLadder, a leading climate-tech SaaS startup, has successfully closed a $2.5 million Series A funding round. The investment was led by BIG Capital, based in Singapore and Vietnam, along with Rainmatter, a venture fund associated with Zerodha. Notable backers in this round include ONGC, Shell, and IIM Lucknow EIC.

Established in 2011 by Myank Chauhan and Atindra Chandel, LogicLadder has pioneered the development of ‘The Sustainability Cloud,’ a premium platform designed to assist enterprises in managing Environmental, Social, and Governance (ESG) factors. The platform enables businesses to track and account for Scope 1, 2, and 3 carbon emissions, ensure environmental compliance, and generate comprehensive sustainability reports. One of LogicLadder’s core strengths lies in its adherence to global standards such as the GHG protocol, SBTi, GRI, CDP, CSRD, SASB, BRSR, CBAM, and GRESB, among others. By aligning with these established frameworks, LogicLadder’s software facilitates seamless integration into existing sustainability initiatives within organizations.

Moreover, LogicLadder’s suite of products, including TSC Water, TSC Energy, and TSC Enviro, empowers organizations to drive efficiency-led decarbonization and sustainability across their operations, particularly in managing water consumption and waste generation.

With a growing roster of over 1,000 clients, including industry giants like NTPC, BHEL, PVR-INOX, and Mother Dairy, LogicLadder has established itself as a trusted partner in the sustainability space.  The fresh infusion of capital will fuel LogicLadder’s ambitious expansion plans, with a primary focus on scaling its presence in South Asia and North America. By leveraging this investment, LogicLadder aims to broaden its global footprint, penetrate new markets, and continue driving innovation in the climate-tech sector.

In conclusion, LogicLadder’s successful Series A funding round underscores investor confidence in the company’s mission to revolutionize sustainability management through technology. With a robust platform and a diverse portfolio of solutions, LogicLadder is well-positioned to lead the charge towards a more sustainable future.

Gravity Secures $1 Million to Transform B2B Banking Technology

By
Garima Bansal
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0

Gravity, an innovative business-to-business (B2B) banking technology startup, has announced the successful closure of a $1 million funding round. Spearheaded by Kettleborough VC, an early-stage venture fund renowned for strategic investments in tech ventures, the funding underscores Gravity’s potential to revolutionize the banking sector.

Co-founded by Satish Krishnaswamy and Rohit Maroo in March 2024, Gravity has rapidly emerged as a leader in banking technology. The startup’s platform facilitates seamless interoperability between diverse banking software systems, empowering banks to tailor bespoke, context-driven products to meet the evolving needs of their clients. Satish Krishnaswamy  enthusiasm about the funding infusion, stating, “The funds will enhance our engineering capabilities to develop and evolve our product, ensuring we offer the best in product engineering.”

Krishnaswamy emphasized Gravity’s commitment to staying ahead of industry demands, highlighting the need for continuous innovation in banking technology. “As a banking tech company, we need to anticipate industry demands and stay 2 to 3 years ahead,” he affirmed. With a robust engagement strategy, Gravity has gained traction in the banking sector, engaging with 18 commercial banks and completing proof of concept (POCs) with five. The Mumbai-based startup aims to onboard 4-5 Indian banks onto the Gravity platform this year and is poised for international expansion.

Nisarg Shah, founder and managing partner of Kettleborough VC, expressed confidence in Gravity’s potential to redefine the banking landscape. “Gravity aligns with our investment strategy of backing domain specialists. We believe it has the potential to become a category-creator, solving the challenge of siloed banking systems and revolutionizing the industry,” Shah remarked.

As Gravity continues to innovate and expand its presence, backed by strategic investors like Kettleborough VC, it is poised to reshape the B2B banking technology landscape, driving efficiency and enhancing customer experiences across the sector

Sift Healthcare Raises $20 Million to Expand Payments Intelligence Platform

By
Garima Bansal
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0

Sift Healthcare, a trailblazer in harnessing artificial intelligence (AI) for healthcare payments, has announced the completion of a $20 million Series B funding round, spearheaded by B Capital. The investment is poised to propel the growth of Sift’s cutting-edge Payments Intelligence Platform, which leverages AI to optimize financial operations in the healthcare sector.

Justin Nicols , CEO, Sift healthcare

Justin Nicols, founder and CEO of Sift Healthcare, expressed gratitude for the support from B Capital, emphasizing the company’s commitment to scaling its platform across new and existing markets. Nicols stated, “With the support of B Capital, Sift is well positioned to scale our Payments Intelligence Platform in new and existing markets and expand our impact within the revenue cycle, transforming how providers use their data to optimize payment outcomes.”

At the core of Sift’s Payments Intelligence Platform lies its unique ability to amalgamate clinical and payments data, thereby creating a comprehensive dataset that correlates clinical inputs with financial outcomes. By harnessing this data, the platform predicts adverse payment outcomes, delivers real-time alerts and recommendations, and enhances patient financial engagement.

One of the platform’s key features is its capability to remove variability and opacity surrounding payer reimbursement probability and amount. By accurately determining patient cost responsibility upfront, Sift’s platform takes a significant step towards promoting pricing transparency in healthcare.

Nick Whitehead, Principal at B Capital, expressed confidence in Sift Healthcare’s AI-based platform and its potential to revolutionize revenue cycle processes within the healthcare industry. Whitehead stated, “Our investment underscores our confidence in Sift’s AI-based platform to reshape revenue cycle processes and drive significant advancements in healthcare financial operations, and we are excited to support Sift Healthcare in this next phase of growth.”

The funding comes at a time when consumer interest in AI involvement in healthcare is on the rise. According to PYMNTS Intelligence, 42% of consumers are interested in AI’s role in healthcare, recognizing its potential to reduce errors and improve patient outcomes.

As the healthcare industry continues to embrace AI technologies, Sift Healthcare stands at the forefront of innovation, poised to revolutionize financial operations and drive advancements in healthcare delivery.

Ixigo Closes Rs 176 Cr Pre-IPO Secondary Placement

By
Garima Bansal
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0

Le Travenues Technology Limited, the operating entity behind the travel booking platform Ixigo, is gearing up for its debut on the stock exchanges on June 10th, with a price band set between Rs 88 to Rs 93 per share. The firm recently announced its pre-IPO secondary placement of Rs 176.2 crore ($21 million) at the top-end price of Rs 93 per share, a day ahead of the Anchor Book.

In this pre-IPO transaction, early investor SAIF Partners divested its 1,07,52,689 shares valued at Rs 100 crore ($12 million) to Ashoka India (White Oak), Tata Digital Fund, and Bay Capital. Concurrently, PeakXV sold its 6,989,248 shares worth Rs 65 crore ($7.8 million) to Bay Capital and Steadview Holding.

SAIF Partners will retain a 20.52% stake, while Peak XV and Micromax will hold 13.81% and 5.52% respectively. Ixigo’s co-founders Aloke Bajpai and Rajnish Kumar cumulatively hold a 16.65% stake in the company.

Analyzing the deal, it is revealed that SAIF Partners and Peak XV are set to gain significant returns, with SAIF Partners expected to enjoy a 13X return, while Peak XV anticipates an 8.2X return from their investments in Ixigo. Similarly, Micromax Limited is poised to achieve a healthy 10.88X return from its investment in the Gurugram-based company. Ixigo’s public offering is slated to be open from June 10th to June 12th, with a minimum lot size of 161 for retail investors and 14 lots for small non-institutional investors.

Ixigo has demonstrated notable growth in the first nine months of the last fiscal year (FY24), with operating revenue reaching Rs 491 crore and a significant profit of Rs 65.7 crore during the same period.

Eyebot Raises $6M for AI-Powered Vision Exam Kiosks

By
Garima Bansal
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0

Eyebot has secured $6 million in funding to revolutionize vision exams through its innovative AI-powered kiosks. The investment, led by AlleyCorp and Ubiquity Ventures, with participation from several prominent venture capital firms, underscores the high demand and potential for Eyebot’s disruptive technology.

The concept addresses a prevalent issue faced by many Americans: the need for a current eyeglass prescription to purchase corrective eyewear. With over half of the population relying on glasses or contact lenses, obtaining a vision exam traditionally involves scheduling appointments with optometrists, leading to delays, especially in rural areas experiencing a shortage of eye care practitioners.

Eyebot aims to transform this process by deploying self-serve vision-testing terminals in convenient locations such as shopping centers, grocery stores, and pharmacies. These kiosks utilize advanced computer vision technology to conduct comprehensive vision exams within approximately 90 seconds, eliminating the need for direct optometrist involvement.

Matthias Hofmann, founder and CEO of Eyebot, highlights the evolution of the technology from his previous venture at EyeNetra, where smartphone-based testing methods were explored. Eyebot’s fully automated experience simplifies the exam process, requiring users only to stand in front of the kiosk.

Following the exam, Eyebot-generated prescriptions are finalized by teledoctors within 24 hours. Consumers can opt for a $30 exam fee or receive a complimentary exam when purchasing glasses from Eyebot’s partner brands. The technology is FDA registered, ensuring compliance and safety standards.

Eyebot’s revenue model revolves around partnerships with major eyewear brands, offering them an opportunity to showcase their products in retail locations. The company plans to monetize by taking a commission on eyewear sales facilitated through its kiosks.

With significant interest from investors and partnerships with key eyewear merchants in the pipeline, Eyebot is poised for expansion beyond New England, leveraging the newly acquired funds to introduce its disruptive solution to broader markets.

Sware Secures $6M Funding to Enhance Life Sciences Software Validation Platform

By
Garima Bansal
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0
Ellen Reilly, CEO, Sware

Sware, a leading provider of cloud-based solutions for the life sciences industry, has successfully raised $6 million in a Series B funding round. Spearheaded by First Analysis, this investment aims to propel the development of Sware’s Res_Q platform, specifically designed to streamline software validation processes mandated by the US Food and Drug Administration (FDA).

Since its inception, Sware has garnered a total of $26 million in funding, with notable contributions from LRVHealth, New Stack Ventures, and Insight Partners. This recent influx of capital will facilitate the advancement of Res_Q and bolster Sware’s sales team, enabling wider market reach and adoption.

Res_Q stands as a beacon for innovation in addressing the persistent challenge of validation debt within the life sciences sector. By seamlessly integrating and scaling validation efforts across various domains such as IT, manufacturing, and laboratory systems, the platform empowers medical device, pharmaceutical, and biotechnology companies to automate and manage their validation processes efficiently.

At the core of Res_Q’s capabilities lies its cloud-based architecture, equipped with an open API framework. This facilitates seamless integration with existing systems and enables intelligent risk assessments, thereby optimizing workflows and workload assignments based on risk profiles.

Ellen Reilly, CEO of Sware, underscores the critical importance of automating validation processes to mitigate unforeseen expenses and delays associated with technology adoption and product updates. Reilly remarks, “Automating these processes is the only way to eliminate this validation debt. We have deep experience helping life sciences companies through these processes, and we’ve built everything we’ve learned into the Res_Q platform.”

As part of the investment agreement, Matt Nicklin, managing director at First Analysis, will join the Sware board of directors, offering strategic guidance and expertise to fuel the company’s growth trajectory. With this latest funding round, Sware is poised to revolutionize software validation in the life sciences domain, paving the way for enhanced efficiency and compliance in the industry.

Storyblok Secures $80M in Series C Funding to Propel AI-Driven Content Management for Enterprises

By
Garima Bansal
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0

In 2017, Storyblok embarked on a mission to redefine content management systems (CMS) for all teams, and today, with over 200,000 developers and marketers in its community, the company takes a monumental step towards its vision of creating the first end-to-end content platform powered by AI and automation. This ambition is bolstered by the announcement of $80 million in Series C financing, marking a significant milestone for Storyblok and bringing its total funding to $138 million.

Brighton Park Capital led this funding round, marking Storyblok’s first US investor and reflecting its commitment to expansion in the region. Kevin Magan, Partner at Brighton Park Capital, highlights Storyblok’s leadership in the CMS space, enabling marketers and developers to efficiently create content experiences across multiple channels. Existing investors, including HV Capital, Mubadala Capital, 3VC, and firstminute capital, also reaffirmed their support, underscoring their belief in Storyblok’s potential to shape the future of content management.

With this infusion of capital, Storyblok is poised to introduce groundbreaking advancements, including the launch of the Ideation Room in Beta. This collaborative environment, powered by AI, empowers users to bring their ideas to life, aligning with Storyblok’s commitment to user-centric content creation.

Since its $47 million Series B funding nearly two years ago, Storyblok has experienced remarkable growth, attracting leading brands like Adidas, T-Mobile, Renault, and Oatly to its platform. The Series C funding will drive further innovation, with a focus on leveraging AI and automation to enhance content creation and delivery throughout the entire content lifecycle.

CEO and Co-Founder Dominik Angerer emphasizes Storyblok’s dedication to providing teams with AI and automation tools to extract value from their content swiftly. With this latest funding round, Storyblok embarks on a revolutionary phase of its journey, poised to unveil transformative advancements that will shape the future of content management.

As Storyblok continues to push the boundaries of innovation, its commitment to empowering teams and delivering exceptional content experiences remains unwavering. The $80 million Series C funding sets the stage for Storyblok to redefine the landscape of content management, offering a glimpse into a future where AI-driven solutions drive efficiency, creativity, and success for enterprises worldwide.

Greptile Secures $4M Funding to Revolutionize AI-driven Code Understanding

By
Garima Bansal
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0

Greptile, a startup founded by recent grads from Georgia Tech, is changing how AI helps developers understand code. While other AI tools focus on writing code, Greptile’s unique twist is making it easier to understand existing code.

Instead of just chatting with a bot, Greptile lets developers connect to their code and ask questions using a special tool. Imagine having a super-smart coworker who knows all about your codebase.

The CEO, Daksh Gupta, explains that their tool works like this: first, you connect your code repositories. Then, you can ask questions in plain language, like “How does the login system work?” The AI then digs through your code to find the answer.

Greptile started last year after the founders came up with the idea at a hackathon. They quickly got customers and even joined a startup program called Y Combinator. But they admit they made mistakes at first, like focusing too much on impressing investors instead of solving real problems.

Now, Greptile has 500 paying customers, including individuals and big companies. They want to keep growing and help even more software teams understand their code better.

The $4 million funding round, led by Initialized Capital and supported by industry experts, shows that Greptile’s approach has real promise. It’s a sign that AI-powered code understanding could be the next big thing in software development.

Holani Group: Pioneering SME-focused Investments

By
cxolane
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0
Ashok Holani

Exciting news from the startup ecosystem! 🚀 Holani Consultants Private Limited has secured ₹184 crore for their new SME-focused venture capital fund, marking a significant step in supporting innovation and entrepreneurship in India. 🌟

Holani Group, founded by the visionary Ashok Holani, continues to make strides in the financial sector with its sector-agnostic strategy and meticulous risk management. Their focus on SMEs is truly transformative, providing much-needed support to this vital segment of the economy.

The fund aims to create long-term value for clients and foster economic growth, showcasing Holani Group’s commitment to driving progress and development. 💼

𝐌𝐨𝐭𝐢𝐯𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐕𝐢𝐬𝐢𝐨𝐧

The main motivation behind the establishment of Holani Group was to bridge the financial gap for SMEs and startups. The founders envisioned a platform that not only provides financial assistance but also offers strategic advisory services to foster growth and innovation. Their goal was to create long-term value for clients while contributing to the broader economic development of India.

𝐈𝐧𝐢𝐭𝐢𝐚𝐥 𝐒𝐭𝐫𝐮𝐠𝐠𝐥𝐞𝐬

In its early years, Holani Group faced significant challenges, including gaining trust in a competitive market dominated by established players. Building a diverse portfolio and attracting high-net-worth individuals (HNWIs) and institutional investors required consistent performance and a strong reputation. The founders’ perseverance and dedication to ethical practices gradually helped them overcome these hurdles.

𝐊𝐞𝐲 𝐔𝐒𝐏𝐬

Holani Group’s success can be attributed to several key unique selling propositions:

𝐒𝐞𝐜𝐭𝐨𝐫-𝐀𝐠𝐧𝐨𝐬𝐭𝐢𝐜 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲: The firm employs a sector-agnostic approach, allowing it to diversify investments and reduce risks.

𝐏𝐫𝐮𝐝𝐞𝐧𝐭 𝐑𝐢𝐬𝐤 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭: Meticulous research and prudent risk management are core to their investment strategy, ensuring sustainable growth for their clients.

𝐅𝐨𝐜𝐮𝐬 𝐨𝐧 𝐒𝐌𝐄𝐬: By concentrating on the SME sector, Holani Group taps into a market segment often overlooked by larger financial institutions.

𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬: Offering a wide range of services, from IPO management to business valuation consultancy and financial advisory, makes Holani Group a one-stop solution for financial services.

𝐌𝐚𝐣𝐨𝐫 𝐂𝐥𝐢𝐞𝐧𝐭𝐬 𝐚𝐧𝐝 𝐀𝐜𝐡𝐢𝐞𝐯𝐞𝐦𝐞𝐧𝐭𝐬

Holani Group has managed to attract a diverse clientele, including corporates, institutional investors, family offices, and foreign investors. They have an impressive track record, having supported valuations for over 100 private placement transactions and handling numerous SME IPOs on the BSE SME and NSE Emerge platforms.

#Startups #Entrepreneurship #VentureCapital #SMEs #Innovation #EconomicGrowth #HolaniGroup #Funding #Finance #AshokHolani

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