Lendingkart Finance today said it has raised fresh debt funding worth Rs 50 crore from Yes Bank.
The funds will be utilised to further build the loan book as the company expands their reach to SMEs operating in tier III and below cities that often face lack of formal credit facilities.
"We firmly believe that our relationship will prove to be mutually advantageous, complementing each other's strength as we drive true financial inclusion," Lendingkart Technologies CEO and co-founder Harshvardhan Lunia said in a statement.
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Paytm Mall appoints Amit Sinha as Chief Operating Officer * Paytm Mall -- the e-commerce arm of Alibaba-backed Paytm -- has appointed Amit Sinha as its Chief Operating Officer (COO).
He will be responsible for overall operations of Paytm Mall and expanding the team, Paytm said in a statement.
Sinha has served in several key business roles in Paytm and has helped implement critical business, HR and financial processes for the company, it added.
"Amit's experience in building various businesses since their inception makes him our best choice to lead our commerce business," Paytm founder and CEO Vijay Shekhar Sharma said.
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PeeSafe raises $1 mn led by Venture Catalysts, others * Toilet hygiene global brand PeeSafe has raised USD 1 million (about Rs 6.4 crore) from Mumbai-based Venture Catalysts, Alfa Capital, Green Shots Capital and Real Time Ventures.
Angel investors like Harshita Mehta Jain, Abhijeet Pai, Amit Choudhary, and Govind Rajan Parthasarthy and others also participated in the pre-series A round.
"With the funding, we will be able to further our cause and achieve our objective of scaling PeeSafe into a global brand and reaching out to 10 per cent of our target market through 1 lakh stores by the end of this calendar year in India alone," Vikas Bagaria and Dheeraj Jain, co-founders of PeeSafe said.
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Unicorn IV invests in AI-led analytics startup Boxx.Ai * Artificial Intelligence-led analytics startup Boxx.Ai has raised USD 500,000 (about Rs 3.22 crore), led by Unicorn India Ventures.
Angel investors like Venky Krishnakumar (Former COO and CFO, Citibank APAC), Suresh Shankar (Founder and CEO, CrayonData) and Vivek Bhargava (CEO, DAN Performance Group) also participated in the pre-Series A funding round, a statement said.
Boxx.Ai was launched in July 2016 by IIT alumni Ajay Kashyap, Prakhar Raj and Shitiz Bansal. The Bengaluru-based startup builds products that use AI to solve critical analytics problems quickly and at affordable costs.
GoDaddy appoints Nikhil Arora as VP and MD India
* Web services firm GoDaddy today said it has appointed Nikhil Arora as Vice President and Managing Director of its India operations.
Arora will lead corporate strategy, business development and customer experience for GoDaddy in India, the company said in a statement.
"India has an estimated 460 million users online and an increasing mobile internet environment, so SMBs are taking their ventures online to attract customers and extend their brands," GoDaddy International Executive Vice President Andrew Low Ah Kee said.
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Ziox appoints Vikas Chandra as GM eCommerce & TV Shopping biz * Ziox Mobiles today said it has appointed Vikash Chandra as its General Manager (eCommerce and TV Shopping business).
"His experience in the eCommerce and TV shopping domain will support the company's strategy to lead the group to achieve bigger milestones," Ziox Mobiles CEO Deepak Kabu said.
Ziox expects online channel to account for about 20 per cent of its sales in FY2017-18.
Previously, Chandra was associated with LeEco India and has also been associated with Intex, ZTE India and Brightpoint India.
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IAN invests in 'assisted living' tech startup * Indian Angelk Network today said it has invested in Arcatron Mobility, which manufactures devices working on assisted living technology.
The funding round -- the amount of which was not disclosed -- was led by Sudhir Mehta, Harish Mehta and Ketan Dalal from the Indian Angel Network.
Arcatron will use the funds raised for the production launch of Frido, a self-driven shower and commode wheelchair which fits in a suitcase.
The company was founded in 2015 by four NIT Calicut alumni, Ganesh Sonawane, Laxmikant Banjarey, Kunal Kamble and Dewaj Baruah.
In addition, funds will also be utilised to set up online and offline sales channels across major cities in India and filing of IP for future products like the Frido Lite, it added.
The market potential for shower and commode wheelchairs in India is around Rs 440 crore, while bathroom assist devices are a USD 4 billion market globally.
