Fabless semiconductor startup BigEndian secured $3 million in a seed round led by Vertex Ventures SEA & India. The funds will enhance engineering, R&D, and operations. Founded in 2024, BigEndian focuses on surveillance chips, with its first SoC expected in 2025. Expansion into the IoT market is planned.
Limassol-based real estate startup Placy secured €1M in Pre-Seed funding led by Zubr Capital. The funds will enhance Placy Pro, a B2B SaaS tool for agencies, and improve Placy’s AI-powered B2C features for property seekers. The tool, currently piloting in Cyprus, aims to expand into Greece, the UAE, and the UK.
AI-based EPC and manufacturing marketplace Mytek Innovations has raised Rs 6 crore in debt funding to fuel expansion. Founded in 2020, Mytek’s platform streamlines project management for contractors, utilizing AI, blockchain, and data analytics. The company plans to extend its services beyond civil and electrical sectors to industries like automotive and textiles.
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.
