This week, one of the India’s leading venture capital firm, Nexus Venture Partners, closed its fourth fund, Nexus Ventures IV Ltd with committed capital of over $450 Mn. With this, Nexus has gathered over $1 Bn in terms of total funds under management.
This week, 25 startups raised about $65 Mn in funding altogether. (The funding amount is based on the startups that disclosed their funding amounts).
Aye Finance: A startup that provides innovative & customer centered financial services to micro & small businesses, Aye Finance, received about $2.9 Mn (INR 20 Cr.) in follow-on investments from Accion and SAIF Partners. The company will utilise the capital to help the financial services startup that offer India’s MSMEs with expanded access to financing.
Holisol: Back-end logistic provider to ecommerce companies, Holisol, raised $10 Mn from CLSA Capital Partners ARIA IV Funds. The company will utilise the funds to set up more warehouses, expand last mile delivery network and increase the portfolio of supply chain optimisation solutions.
I2e1: Smart network layer platform, i2e1, raised $500K (INR 3.34 Cr.) in a seed round of funding led by growX ventures. This round also saw participation from angel investors such as Mohandas Pai, Sameer Mahandru, Rajan Pandhare, Debasish Mitter and Singapore Angel Network. The company will utilise the raised funds to expand its team as well as operations and strengthen its data analytics.