Hyderabad-based logistics firm Gati Ltd has invested an undisclosed sum in BrownTape Technologies Pvt Ltd, a cloud-based software solutions company based out of Goa. BrownTape helps online merchants to manage their orders for multiple e-commerce marketplaces. The company has a technology platform that helps sellers manage orders and inventory in one place without the need to log into each e-tailing site separately.
Delhi-based Medhealix Healthtech Pvt Ltd, which operates Medzin, has raised INR 30 lakhs ($45,000) in fresh funding from existing angel investor A M Sikander, owner of logistics firm Sitics Logistic Solutions. The funding will be utilized to develop product, accelerate growth and create marketing campaigns.
A clutch of angel investors has committed to invest INR 2 crore in the education start-up Stones2Milestones (S2M) which is aimed at creating reading habit among school going children in the age group of 3-9 years.
Bizongo, an online B2B marketplace, has raised $3 million from existing investor Accel Partners as well as IDG Ventures in a Series-A round. The funding will be utilized to expand seller base and build tech capabilities and products.
Oil India Limited (OIL) has set up an OIL Start-Up fund of INR50 Crore to encourage new “out of the box” ideas related to the oil and gas sector, particularly in the Northeast. The government-run company also plans to create a dedicated website for its Start-Up initiative, inviting applications with project ideas, besides inviting through newspaper advertisements in the region with special attention given to ideas from students in technical institutions and universities.