Fintech platform FypMoney App said on Tuesday it has secured $2 million (Rs 14.9 crore) in seed funding to develop its product and execute growth plan.
“We are targeting one million users by the end of this financial year,” said Kapil Banwari, founder of FypMoney, adding that the company will raise more cash by the end of 2021 to achieve its three-year plan of procuring five million users.
Angel investors in the first round of funding are Liberatha Kallat, Mukesh Yadav and Dinesh Nagpal.
Pockket Payment Technologies, which promotes crypto transactions for teenagers, will launch its Fyp Money App in June, the company said.
Healthtech firm Qube Health said on Tuesday it has raised cash in a pre-Series A funding round, which was led by Inflection Point Ventures.
Qube Health, which focuses on employee healthcare management, did not disclose the amount raised.
Investors in the funding round include Burman Family Office, Keiretsu Forum and a clutch of Indian and international high net worth individuals (HNIs).
Inflection Point Ventures announced Qube Health as its 14th deal for 2021. It is likely to invest Rs 155 crore this year across 60 plus startups.
Kotak Private Equity, Legacy Assets LLP (Baldota family fund) and Dr Ajith Kamath (ex-Pfizer) participated in the round along with existing investors Dr Anand Deshpande and Suman Kant Munjal.
The company counts Dr Ganesh Natarajan as an existing investor.
The freshly infused capital will be used for ‘first-in-human’ studies of new drug candidate AB1001 for vitiligo.
Eyewear retailer Lenskart said on Tuesday it has acquihired delivery startup DailyJoy to strengthen its operations.
The company also opened a technology centre in Hyderabad, where DailyJoy is based.
Lenkskart said it would hire more than 100 people across verticals in the next six months.
Founded in 2010, Lenskart operates in India and Singapore.