Gurugram-based micro-lending platform Aye Finance, that delivers business funding to Indian micro and small enterprises, has raised Rs 20 crore in debt funding from the State Bank of India. Spread across 33 branches in the country as a non-banking financial company, Aye Finance provides mortgage, hypothecation and term-loan services accessible to India’s thriving and under-served MSME sector.
SoftBank Group Corp is close to announcing commitments of as much as $95 billion for its technology fund. The Japanese company announced plans for the Vision Fund last year, aiming to create a vehicle that would become one of the biggest technology investors over the next decade.
Chymera VR, a monetisation and advertising platform for virtual reality, has secured undisclosed funding from a clutch of angels, including People Group CEO Anupam Mittal, former head of operations at Airbnb Varsha Rao, former Google executive Surojit Chatterjee and chairman of HHC Holdings Nirav Choksi. The funding will be utlized to ramp up product development in Bengaluru and expand publisher-base and, primarily advertiser-base in the US.
SAIF Partners, an early investor in mobile payments and digital wallet player Paytm, has begun raising its third India-dedicated fund of about $350-400 million. The new fund will make SAIF Partners one of the largest venture funds in India after Sequoia Capital, Accel India and Nexus Venture Partners all of which have over $1 billion in assets under management.
Southeast Asia-based blockchain incubator Satoshi Studios has made its first investment in Delhi-based energy analytics startup Curie Labs. Satoshi Studios, which was launched in December 2016, provides startups $50,000 in funding for an 8-15% equity stake as part of its incubation programme.