Kstart Capital, the seed program of Venture Capital firm Kalaari Capital, has invested an undisclosed amount in a multilingual artificial intelligence platform for businesses. The startup, which was founded by three IIT Roorkee graduates- Sourabh Gupta, Akshay Deshraj and Manoj Sarda, is presently working on multi-lingual conversational agents for financial institutions.
Online fashion marketplace Fynd, run by Shopsense Technologies Pvt Ltd, has raised $500,000 in follow-on Series A funding from Silicon Valley-based venture capital fund Rocketship. Fynd will use the funds to strengthen its tech backbone, optimise operations and enhance customer offerings.
Chennai-based hyperlocal delivery and logistics startup Genie Solutions Pvt Ltd will resume operations as it has raised $250,000 from a group of unnamed high net-worth individuals (HNIs). The company will focus on attaining scale and being operationally profitable in a year along with creating supplementary products and sources of income.
Chinese e-commerce giant Alibaba Group Holdings has bought out former IDFC Securities equity analyst Nikhil Vora’s stake in One97 Communications, the parent company of leading digital payments major Paytm. The transaction was part of a larger secondary share sale round in which institutional investors Saama Capital, Sapphire Ventures and Reliance Capital sold their holdings in One97 to Alibaba and its payment affiliate Alipay.
Mobile point of sale (PoS) solution provider Mswipe Technologies has acquired the offline merchant acquiring business of PayU India. PayU had an offline merchant acquisition team and has so far acquired over 9,000 offline merchants in the country.