Udaan, a business-to-business online marketplace has raised $10 million in series A funding from venture capital firm Lightspeed Venture Partners India and Lightspeed US. Udaan is currently running a pilot connecting manufacturers, wholesalers, traders and retailers. It has two categories so far—mobile accessories and fashion products.
Delhi-based non-banking financial company AYE Finance (AYE) has closed its Series B round of funding worth INR 70 crore from LGT Impact Ventures and existing investors SAIF Partners and Accion.The funding will be utilized to grow outreach across the country with a target loan portfolio of more than Rs 2,000 crore over five years.
Ed-tech startup VoLT, run by Edutainment Spearheads Pvt Ltd, has raised an undisclosed amount of seed funding from YMS Mobitech, a tech-based distribution company.VoLT (Vocabulary Learning Technique) simplifies vocabulary learning process using creative teaching methodologies, mnemonics, anecdotes and colored pictures for better retention.
Bengaluru-based NitroLabs Technology Pvt Ltd, the company which runs and operates news summarisation app Awesummly, has raised $146K (Rs 1 crore) in funding from Vivek Bhargava, chief executive, iProspect and Ameera Shah, promoter and managing director of Metropolis Healthcare. Awesummly is a machine-intelligence powered short news app which provides personalised news summary in 60 words in both English and Hindi.
Mumbai-based Nodd Ventures Pvt Ltd, the company which operates networking app Nodd, has raised INR 1 crore ($146,000) in funding from former Just Dial Ltd chief technology officer Sandipan Chattopadhyay, IKYA Global associate partner Jaison Jose and other investors. The funding will be utilized to scale up its operations and expand across major cities such as New Delhi, Bengaluru, Mumbai, Hyderabad and Chennai. It will also be used to strengthen team and technology.