MergerDomo, an online tech-based investment banking marketplace, said it has raised $500,000 as a bridge round from existing investors including Nadir B Godrej, chairman & managing director, Godrej Industries Ltd.
The startup said it will use the funds towards strategic investments such as technology upgrades, moving from algo-based systems to AI/ML, team expansion, and marketing activities. The company plans to boost its tech-based offerings by developing advanced features to facilitate mergers and acquisitions (M&A), private equity, debt and JV transactions.
MergerDomo said it has in-house funding-related tech tools like the Quick Startup Algo-based Assessment Tool (QSAAT) to check startups' funding readiness.
“I am delighted to be a part of the MergerDomo growth story. MergerDomo provides a modern, tech-enabled and efficient solution to SMEs/startups for challenges in their organic/inorganic growth journeys,” Godrej said.
MergerDomo said it has recently closed 2 startup funding deals in superfoods and wellness companies, bringing its total to 5 deals this year. On the consulting front, they have closed over 19 deals to date and an SME deal flow of over $800 million on the platform.
MergerDomo is a platform for investment banking, M&A, Technology sourcing, debt & equity funding opportunities for SMEs & startups.
Skyber, a SaaS and B2B commerce-based platform, said it has raised Rs 40 lakh in a financing round through the Encubay Angel Network – a women-led and women-focused angel network.
The funding saw participation from Niloufer Irani, talent executive at J Sagar Associates, Disha Shah, vice president at Bobble AI, and Pratibha Wilson, senior project manager at Natwest Group, all part of panel members from the Encubay Angel Network Community.
Skyber said it aims to digitise, optimise and streamline business transactions by bringing multiple stakeholders of the transaction on one single and unified platform.
“We are bullish on businesses that are unlocking the potential of SMBs in India as that’s where the real growth will happen. We are also excited to help Skyber build out its offering through the extensive network at Encubay,” Deeksha Ahuja, founding partner, Encubay Angel Network, said.
Bookingjini, a hospitality-focused SaaS platform, has raised $3.3 million in a pre-Series A funding round led by Mumbai Angels Network.
Mumbai Angels Network invested $1.2 million. Bookingjini said it will use the fresh capital for product development and global expansion.
“India’s startup ecosystem has grown tremendously in recent years and witnessing a startup from a Tier-II city in the SaaS segment having such a growth trajectory as Bookingjini is nothing short of remarkable.
Bookingjini has truly established its presence in nearly every state in the country and has also expanded beyond India’s borders,” Nandini Mansinghka, co-founder and CEO of Mumbai Angels Network, said.
Bookingjini was founded in 2017.
ConveGenius, a conversational AI-focused startup, said it has raised $5 million in a pre-seed financing round led by BAce Capital, Heritas Capital, and 3Lines Venture Capital as well as an existing investor, Michael and Susan Dell Foundation.
The funding will be used to launch its conversational AI platform, ConveGenius AI, in India and global markets.
Convegenius.AI said it aims to expand its products on the WhatsApp ecosystem and other conversational AI-based channels horizontally, to service more customers across different verticals and allow developers to launch their solutions on the platform.
Singapore-headquartered ConveGenius was founded by Jairaj Bhattacharya and Shashank Pandey.