Having identified fintech as a promising space to generate jobs, Andhra Pradesh announced a INR 100 crore fund of funds to invest in startups in this area. INR 100 crore will be put in initially for a fund of funds which will be managed professionally by a venture capital firm to help hone fintech startups.
Japanese investment firm Dream Incubator which has made its debut investment in India, has led an undisclosed funding round in Udupi-based gaming startup 99Games, accompanied by existing investors Kalaari Capital and Ascent Capital. The funding will be utilized for user acquisition purposes for global games and to build games for the Indian market, with two female-focused games launching this year.
Airmed Path Labs, a home-service health-test platform, has raised about INR 10 crore from Bennet, Coleman and Co Ltd’s (BCCL) investment arm Brand Capital to help fund its expansion and strengthen its brand. The funding will be utilized to increase brand salience and brand awareness to widen customer base and enter new markets.
Impact investment firm Aavishkaar-Intellecap Group has raised $25 million (about INR 170 crore) in an equity funding round led by Triodos Investment Management and Shell Foundation. The capital will be utilized to consolidate and expand its bouquet of ecosystem building businesses.
Nudge Foundation, which is backed by Infosys co-founder Nandan Nilekani, Tata Trusts and other industry heavyweights, has launched N/Core, an incubator for non-profit startups working towards poverty alleviation. Through N/Core, Nudge will invest more than INR 50 crore over the next five years to incubate and support over 100 non-profit startups.