After securing $50 Mn from Chan Zuckerberg Initiative, edtech startup BYJU’s adds funding from the investment firm International Financial Corporation (IFC), a member of the World Bank Group. The funding will enable BYJU’s to further its plans to make quality education accessible for students across the nation as well as in international markets.
Next, in a bid to gain an edge over competitors, ecommerce giant Amazon has invested a fresh capital of $295 Mn (INR 2,010 Cr) in its main Indian unit, making it the single-largest capital infusion so far. The investment was made in November and marks the total capital invested in Amazon Seller Services to over $1 Bn (INR 7,000 Cr) in the last 12 months, according to regulatory filings.
This week 13 startups raised over $10 Mn in funding altogether. (Funding amount is based on the startups that disclosed their funding amounts.)
Startup Fundings Of The Week
enKast: Seamovation Labs Pvt. Ltd, a Bengaluru-based startup which provides cloud-based CRM product enKast raised $2 Mn in Pre-Series A round of funding. The funds were infused by the Ivy League Alumni Angel Network in a round led by Manish Maheshwari, CEO at Network18 Digital and former Head of Flipkart’s Seller Marketplace. The raised funds will be used by the company to enhance scalability and quality of enKast’s on-demand platform and utility application suits.
Innoplexus: Germany- and India-based DaaS (Data as a Service) startup, Innoplexus secured an undisclosed amount in its Pre-Series A round of funding from HCS, a Germany-based Venture Capital Fund. Post the investment, Hans-Christian Semmler, Managing shareholder of HCS will join as Chairman of the supervisory board of Innoplexus. The startup plans to deploy the raised funds to file patent applications, develop its trademark platform, iPlexus, and for marketing purposes.
Tiyo: Kolkata-based healthtech startup Tiyo, run by Labsense Technology Services, raised an undisclosed amount in its Seed round of funding led by Middle East-based existing investor, Ajith Nair, CEO iAdepto Global. The startup will deploy the newly raised funds to further accelerate its patient care technology and to increase its sales and marketing strategies.