Cleantech startup ReCircle has raised an undisclosed amount in a bridge funding round led by Venture Catalysts and Mumbai Angels. The funds will support diversification, expansion, and the launch of a recycling unit. Founded in 2016, ReCircle focuses on solving India’s waste problem through tech-driven initiatives and ethical circularity.
State Bank of India-backed Cashfree’s Secure ID, a solution for identity verification, risk assessment, and fraud prevention, has surpassed 100 crore verifications, preventing fraud worth Rs 50 crore. The AI-powered tool serves major clients like Kotak Life Insurance and Meesho, bolstering Cashfree’s growth in digital payments.
Auto Ancillary firm Hindustan Composite has acquired a minority stake in Swiggy, investing Rs 5.17 crore for 1,50,000 equity shares. This move comes as Swiggy prepares for its IPO, aiming to raise up to $1.25 billion. The acquisition is expected to be finalized by November 30, 2024.
San Francisco-based Approveit, an operations and automation platform, raised $1M in funding from backers including 10vc and Verras Capital. The company, led by CEO Serge Gusev and CTO Dmitry Matveev, plans to use the funds to expand operations and development efforts, enhancing workflow automation across various departments.
Bengaluru-based lending platform Moneyview is raising Rs 250 crore ($30 million) in debt through non-convertible debentures. This marks its first major debt round in three years. The funds will support growth, working capital, and corporate purposes. The company is also nearing unicorn status, with a valuation approaching $1 billion.
Chemical software company Knowde secured $60 million in Series C funding led by Blue Cloud Ventures and others. The funds will expand operations and enhance its Master Data Management platform, which digitizes and automates processes for chemical suppliers and distributors, modernizing their online commerce.
Fintech firm Infibeam Avenues has introduced CCAvenue SoundBox Max, a versatile POS device for Indian merchants. The device supports multiple payment methods, including UPI, debit, and credit cards, and offers features like contactless payments and QR code support. Infibeam Avenues aims to enhance retail transactions, processing over Rs 7 trillion in FY24.
Global Care, a non-hospital medical tourism company, raised $3 million in a Series A round led by 35North India Discovery Fund – II. The funds will enhance clinical excellence and patient care access. Founded in 2016, Global Care offers specialized medical services across India, Turkey, Dubai, and beyond, with plans for international expansion.
E-commerce platform Meesho has appointed Mohit Rajani as Chief Product Officer. Rajani, with leadership experience at Meta and Instagram, will oversee product management, design, and analytics at Meesho. His appointment follows Meesho’s recent ESOP buyback program and the addition of seasoned business leaders as independent directors.
Direct-to-consumer brand Nutrabay secured $5 million in Series A funding led by RPSG Capital Ventures. The funds will fuel omni-channel expansion and product innovation. Founded in 2017, Nutrabay offers over 100 brands and its own products. The company saw 80% growth in FY24 and plans to add 50 new products next year.
