Prescinto, a solar energy software-as-a-service analytics and monitoring platform, has raised $3.5 million (around Rs 25.38 crore) in a seed funding round.
The round in Gujarat-based Prescinto was led by startup incubator and accelerator Venture Catalysts, with participation from Inflection Point Ventures, Mumbai Angels, and LetsVenture.
In December last year, the company said it had raised an undisclosed sum from Venture Catalysts and Sarcha Advisors founder and managing partner Rohit Chanana as part of this seed round.
Prescinto, operated by Prescinto Technologies Pvt Ltd, was set up in 2016 by Puneet Singh Jaggi. The company says its artificial intelligence and Internet of Things-based platform helps increase solar power plant generation by around 7% at a cost of only 0.1% of revenue, leading to a 20-50 times return on investment.
It will use the capital it has raised to fund its international expansion with a focus on the United States, as well as further develop its intellectual property. The company has customers including Macquarie (Stride Climate Investments), Essel Infrastructure, and GMR.
Capital Quants Solutions
Capital Quants Solutions (CQS), a startup that utilises machine learning and natural language proficiency for analysing financial documents, has raised funding from NSE Data & Analytics Ltd.
NSE Data is a wholly owned subsidiary of the National Stock Exchange of India. The two companies did not disclose the financial details of the transaction.
CQS, operated by Capital Quants Solutions Ltd, says its platform helps in extracting and analysing structured information. It also builds machine learning models for extracting data from complex and unstructured financial documents.
NSE managing director and CEO Vikram Limaye said the bet on CQS is part of its programme of investing in fields including analytics, digital technology, robotics, security, and artificial intelligence.
“We are delighted to be an investee company of NSE group as we see a lot of synergies between what we are offering through our product FinStinct and the NSE Data’s business,” CQS founder Pravin Lal said.
Vistas Media Capital
Vistas Media Capital (VMC), a Singapore-headquartered media-focused investments company, has raised an undisclosed amount from industry veteran Sudesh Iyer.
Iyer is best known as co-founder of Sony Entertainment Television (SET Satellite Pte Ltd). Apart from this investment in VMC, Singapore-based Iyer has stakes in several businesses in the sector across the region.
He has also incubated several startups in areas such as healthcare, information technology, manufacturing, and logistics.
In a statement, VMC said it has plans to increase its exposure to India, while continuing to diversify into the North American and West Asian markets.
The firm and Iyer will also launch a movie fund that will focus on India before expanding to other Southeast Asian countries.
Chirrup, a video-integrated social gaming platform, has raised $300,000 (around Rs 2.17 crore) in a pre-seed funding round, it said on Thursday.
Participating investors in this exercise include Titan Capital, iSeed, First Cheque, and the 3.0 Fund, Delhi-based Chirrup said in a statement.
Operated by Chirrup Infotech Pvt Ltd, the startup was set up last year by Vipul Garg, Sourav Lashkari and Mehul Mittal.
The company says it currently offers nine multiplayer games, all of them having a built-in call feature. The firm will add another 10 games over the next six months.
It will use the capital raised in this fundraise to strengthen its product and focus on enhancing user experience. The startup says early adopters of the product include long-distance families and couples.
SmartQ, a food-technology platform that focuses on the digital cafeteria segment, has been acquired by the Indian arm of the United Kingdom-based Compass Group, Moneycontrol reported on Thursday
The Compass Group is one of the world’s largest contract food and support services providers, with a presence in 45 countries. It began operations in India in 2008.
SmartQ provides services including automated billing kiosks, centralised billing systems, NFC prepaid cards, and point-of-sale software to companies.
Compass India says the acquisition will help it develop and deploy solutions provided by SmartQ as part of its ‘return to work’ strategy to help employers enhance workplace experience. It did not disclose the financial details of the transaction.
SmartQ was set up by Krishna Wage and Abhishek Ashok in 2014. In 2016, VCCircle reported that the company had raised $250,000 (around Rs 1.7 crore) in a pre-Series A funding led by YourNest Angel Fund.
In July 2018, Bengaluru-based SmartQ said it had acquired Goodbox’s cafeteria business for an undisclosed amount.
Get My Parking
Get My Parking, a platform focused on digitising parking, has acquired battery-as-a-service startup Mobilytics, it said on Thursday.
In a statement, Delhi-based Get My Parking said that the acquisition will help it increase focus on the growing electric vehicle segment in the country. Its strategy includes increasing the utilisation of parking real estate by providing value-added services such as electric vehicle charging.
The two companies did not disclose the financial details of the transaction.
Mobilytics says it lets parking operators increase revenues by enabling electric vehicle battery swapping. Its application also lets original equipment manufacturers improve battery performance and reliability.