Three start-ups from empoWer, a Zone Startups India accelerator for women entrepreneurs, have received equity-free seed funding from the Department of Science and Technology and Vodafone. Saral Design Solutions Pvt Ltd, which makes sanitary napkins, received Rs.10 lakhs and Shubhpuja Services Pvt Ltd, an online marketplace that provides Hindu religious services, received Rs.500,000 from the Department of Science and Technology. Another start-up, MyKavach Wearable Technology Pvt Ltd-operated DAZL, which makes women safety devices such as fashion accessories, receivedRs.700,000 from Vodafone.
Private equity firm Mandala Capital is raising $250 million for a new fund, which will invest in agri-businesses in India. The Mauritius-based firm has invested $180 million so far, all in India-based companies involved in agriculture. Mandala Capital looks for opportunities to provide growth capital in public equity investments. The new fund, the firm’s second, has made first close of $140 million, and expects to reach final close by December.
Cambridge Innovations, the investment and technology platform of Cambridge Technology Enterprises Ltd (CTE), has invested an undisclosed amount of money in two US-based startups, EnerAllies and ComplyGlobal. Cambridge Innovations invests in early-stage ventures and helps them leverage technology, big data and machine learning to disrupt markets through the creation of efficient products and services, and helps them get to their Series A rounds faster.
Subscription-based hyperlocal delivery platform Daily Ninja has raised an undisclosed amount in a pre-Series A round of funding from LetsVenture and TracxnSyndicate investor network platforms. The round saw participation from angel investor Anupam Mittal and Kunal Shah of Freecharge. Led by NuVentures’ Venk Krishnan, the round also saw participation from other key investors such as TaxiForSure cofounder Aprameya Radhakrishna.
Sheroes a jobs and career platform for women has raised Rs 12 crore in a Series-A funding led by Lumis Partners as part of a larger commitment. Launched in 2014, Sheroes is looking to expand its footprint from 12,000 companies to 30,000 in the next 18 months. It runs a career support helpline that it plans to expand to be able to reach women on their mobile phones. Besides, it plans to scale up its pilots around the work-from-home segment.