Syntizen raises pre-Series A funding from Mastercard, ACPL

Syntizen Technologies, a digital identity solutions provider, on Tuesday said it has raised funding from Mastercard and ACPL.

The company did not disclose the size of the pre-series A funding round.

"The latest round of funding will enable Syntizen to gain further momentum in the market and catalyse adoption of its business solutions. This will be done by reinforcement of its core product offerings for digital identity check, talent acquisition, and further enhancement of electronic customer onboarding platform," a statement said.

Syntizen Technologies was founded in 2014 by Siddharth Kukatlapalli, Vamsi Kotte, and Dinesh Desu. It offers digital identity solutions to regulated organisations and state governments in India by leveraging its proprietary Aadhaar-based solution.

 

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* Aye Finance raises Rs 80 cr debt funding

Capital G-backed fintech company Aye Finance on Tuesday said it has raised Rs 80 crore in debt funding.

The company, which did not disclose the name of the investor, said it plans to utilise the latest infusion of funds for further growing its lending portfolio.

It had recently raised Rs 55 crore from DCB Bank through a securitisation deal.

Aye has disbursed over Rs 2,200 crore to 1.5 lakh micro-enterprises since its inception in 2014.

"I believe the turmoil currently underway in the NBFC sector will separate the sustainable and sound business models from the rest. Aye has remained unaffected and continues to find support from investors in India as well as globally in its mission to transform micro enterprise lending," Aye Finance founder and MD Sanjay Sharma said.

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* Meddo raises USD 3 mn in pre-Series A funding led by SRI Capital

Meddo, a health-tech platform, on Tuesday said it has raised USD 3 million (about Rs 21 crore) in funding, led by SRI Capital.

The pre-series A round also saw participation from growX Ventures, LetsVenture, Jitendra Gupta (co-founder Citrus Pay) and Venture Gurukool among others, a statement said.

The Gurugram-based start-up currently has over 400 doctors and 200 clinics and is currently operational in Delhi-NCR.

Meddo was founded in June 2018 by Saurabh Kochhar (ex-founder of Foodpanda) and Naveen Nishchal (co-founder of Cygnus Hospitals).

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* * Blowhorn raises funding

Bengaluru-based Catbus Infolabs, which operates Blowhorn.com, on Tuesday said it has raised an undisclosed amount of funding from Venture Catalysts, James Lee Sorenson and Japanese VC firm Dream Incubator.

The round also saw participation from existing investors, Chiratae Ventures and Dell Foundation, a statement said.

The round was led by a prominent investor, it said, without disclosing the name of the investor.

The company, which connects logistics service seekers with mini-truck drivers, said it has expanded its presence to over 30 cities and now has over 25,000 driver partners on its platform.

"Our goal is to be active across more than 100 cities across India by 2021, and we are on track to achieving that. We are also in the final stages of executing our first international foray, and we are very excited about it. Our margin profile remains healthy and has grown 30 per cent over the last quarter," Blowhorn CEO Mithun Srivatsa said.