Bengaluru-based fintech startup HappyCredit said it has raised Rs 5 crore in a pre-seed funding round from Kunal Shah, CEO of CRED, and Krishna Kumar, CEO of Simplilearn.
The funding round saw participation from Goodwater Capital, Magic Fund, MyAsiaVC, Alex Lin of Outlier, Jeremy Cai of Italic, Chris Ye of Uken Game, Saad Siddiqui of Bonsai, Andrew Ladouceur of Bonsai, and Charlie Feng, co-founder of Clearco, among others.
The company said the fresh round of funds will be used to launch new products, build talent and enhance growth.
Founded by Jitendra Kumar and Ashish Virmani, the HappyCredit app has 50 plus e-commerce merchant brands on its platform, such as Flipkart, Myntra, Ajio, and Mamaearth.
The company said the HappyCredit app has received over 50,000 downloads on the Google Play store. It is planning to launch new credit products, aims to scale the user base to 1.5 million in the next 12 months, and expand its platform to offline retailers.
"Cashback and rewards are a significant part of the e-commerce ecosystem, and with HappyCredit, we want to make the process a seamless affair. In the coming months, we are looking at launching a checkout finance product as well," Ashish Virmani, co-founder of HappyCredit, said.
Endimension, an AI-based healthcare startup, said it has raised 2.3 crore in a seed round from Inflection Point Ventures.
The company said the funds will be used to acquire talent for new product development, R&D and for boosting the sales team to fuel further growth.
The startup said it helps in automatically detecting abnormalities and diseases via AI algorithms from medical scans, reducing patient misdiagnosis and increasing radiologists’ efficiency. Currently, it has an in-house AI technology team.
“There is a global shortage of radiologists leading to radiologist burnout and patient misdiagnosis. The number of medical images is increasing exponentially whereas radiologists are only growing linearly. We wanted to bridge this demand-supply gap using our radiology AI platform,” Bharadwaj Kss, founder and CEO of Endimension, said.
TravClan, a B2B travel tech platform, said it has raised $2.2 million in a pre-Series A round led by S Korea and Singapore-based TheVentures and Leo Capital, which had also led the seed round in August 2019.
TravClan said it helps agents to build and grow their travel business online by setting up websites and selling products digitally. It also provides marketing tools that allow its users to generate more demand from social media, and earn more profit by booking flights, hotels, and holidays with suppliers across the world on its platform.
"Covid-19 has severely affected the livelihood of more than 100 million people across the world. However, the urge to travel is innate in every human being and we are seeing strong consumer demand as vaccinations pick up,” Arun Bagaria, co-founder and CEO, TravClan, said.
The company said it has already crossed the pre-Covid revenue mark, and now aims to grow 10x over the next 12 months.
Health-tech startup SiCureMi said it has raised $425,000 in pre-seed funding through grants from Pfizer India, Sanofi India, BIRAC, C-Camp, COPIC, and RightSide Capital.
The company said the funds will be directed towards enhancing research and development, team building, and geographical expansion.
“Our product will use non-invasive technology, thus reducing the patient’s discomfort,” Tarun Gupta, co-founder and CEO, SiCureMi, said.
“We will use 4 unique biomarkers, which cannot be obtained in the retinal images generated by using fundus technology. We are analysing the deep layer of the retina in addition to the superficial layer, for better predictions of CVD,” he added.