Bengaluru-based micro lending platform KrazyBee has raised $8 million Series A equity and debt financing led by Xiaomi Technologies and Shunwei Capital. The newly-raised capital will be used for strengthening the company’s risk model and core algorithm, geared towards catering to new market segments and focusing on product diversification. A portion of the funding will also be spent on geographical expansion in existing segments.
Sankalp Semiconductor, a Hubli-based semiconductor design service company, has raised $5 million from Stakeboat Capital. The company has operations in the US, Canada, Bengaluaru, Hubli and Kolkata. Majority of the funds will be primarily used for buying out some of the existing stakeholders and some portion will come into the business. The company will also use the funds to hire more engineers as its looks to grow its business in the coming years.
Ready-to-cook (RTC) food brand Fingerlix has raised Rs.45 cr. in its third institutional round of funding from Accel Partners. With this, the total capital raised by the Mumbai-based company stands at Rs.63 cr. Fingerlix will use the capital raised to enter cities beyond Mumbai, Pune and NCR where it is currently present. The company is looking to expand to Bengaluru, Hyderabad and Chennai and increase presence in the NCR market.
Human Resources Company TeamLease Services Ltd has agreed to acquire Evolve Technologies, a smaller Pune-based staffing firm, to enter the specialized telecom staffing space. TeamLease would acquire Evolve through its wholly owned subsidiary, TeamLease Staffing Services Pvt. Ltd. The acquisition of Evolve is in line with the long-term strategy of expanding its footprint into specialized areas of staffing.
Mumbai-based peer-to-peer lending platform Lenden Club has raised $500,000 almost Rs.3.5 cr., in equity investment from three major investors Venture Catalyst, Anirudh Damani and an Indian venture capital fund. The company plan to utilize the funds mainly for strengthening technology platform and expanding the scope of operations.