ToyStack.ai, a cloud deployment platform for developers, raised $325,000 in pre-seed funding from angel investors. Founded in 2023, the platform automates server setup, CI/CD pipelines, and security configurations. The funds will be used for product development, talent acquisition, sales, and marketing.
InsuranceDekho has received the composite insurance broking license from IRDAI, allowing it to offer reinsurance services in addition to broking. The platform, integrated with 48 insurance companies, aims to leverage technology for competitive reinsurance pricing and plans to increase its processed premium from Rs 3,300 crore to Rs 5,000 crore next year.
This week, 22 Indian startups secured $113.39 million in funding, with 5 growth-stage and 8 early-stage deals. Rays Power led growth-stage funding with $15.1 million, while Unimech Aerospace topped early-stage deals. Nine startups did not disclose their funding amounts. Last week, 35 startups raised $261.21 million.
Ola Electric will launch its IPO anchor book on August 1, with the public issue open from August 2 to August 6. Seeking a $4.2-4.4 billion valuation, the company aims to raise Rs 5,500 crore ($660 million). Ola Electric reported Rs 5,009.8 crore in revenue for FY24.
Ather Energy raised Rs 60 crore ($7 million) in debt from Stride Ventures, its second infusion in two months, bolstering funds ahead of its potential IPO. Having raised $450 million to date, Ather recent converted to a public company, signaling progress toward a public listing.
San Francisco-based DocketAI, an AI revenue enablement startup, raised $15 million in Series A funding led by Mayfield and Foundation Capital. Founded by Arjun Pillai and Anoop Thomas Mathew, DocketAI uses generative AI to provide instant technical support and personalized document generation, enhancing revenue processes and productivity for sales teams.
San Francisco-based Noded secured $4 million in funding led by Boldstart Ventures, with participation from Bessemer Venture Partners, 20VC, and First Hand Ventures. Led by CEO Chris Port and CPO Steve Wood, Noded offers technology for managing tasks, notifying users of important changes, and creating knowledge graphs.
Google has partnered with ElectricPe to improve the EV charging experience in India. Google Maps and Google Search users can now view real-time availability and status of charging points. ElectricPe, founded in 2021, operates over 25,000 public chargers in Bengaluru and has raised $8.29 million.
Go Digit General Insurance saw an 8% drop in net premium revenue to Rs 1,824 crore in Q1 FY25. Despite this, their gross premium was Rs 2,660 crore. Profits rose by 90.6% to Rs 101 crore, reflecting cost control efforts.
Leap Finance, a fintech platform aiding Indian students with overseas education, is in discussions to raise $70-100 million in a new funding round. This Series E round could make Leap a unicorn. The firm last raised $75 million in Jun-2022, led by Owl Ventures.
