Readyassist Automobile Services Pvt Ltd has raised $1 million (Rs 7.3 crore) in a seed funding exercise.
The round in the Bengaluru-based startup has been led by angel investor Satish Grampurohit. Other angel backers include Visveswara Gupta Kothamachu, Nagraj Srinivasa, Praveen Kumar, Siddramesh V Nara, and Harish Srinivas Gudi.
Vijay Sambamurthi, founder and managing partner of law firm Lexygen, also took part in the round.
Readyassist was set up by Vimal Singh and began operations in 2018. It offers services through an on-demand and subscription service.
Some of these solutions include on-the-spot breakdown support, towing, and repairs for bikes and cars.
Readyassist will use the capital it has raised to enhance technological infrastructure, focus on customer service, and scale up operations.
“We have a robust team and proven deep-tech platform to provide our customers with a hassle-free experience while dealing with breakdowns,” Singh said.
Prior to this seed fundraise, ReadyAssist secured Rs 25 lakh angel funding in 2019 from Vivek Subramaniyam, an active angel investor who is founder and managing director of lifestyle disease-focused altLifeLab.
Knocksense Media Services Pvt Ltd, a content production platform, has raised $200,000 (Rs 1.46 crore).
Participants in this round include angel investor Mohit Satyanand’s syndicate on LetsVenture, and We Founder Circle.
Angel investors that have taken part include Venture Catalysts and We Founder Circle’s Neeraj Tyagi, Faering Capital’s Piyush Doshi, Stonehill Capital Management partner Tom Varkey, Rentomojo investor Syed Faiz Hasan, and Veda.vc partner Venus Dhuria.
The company was set up in 2016 by Vibhore Mayank and Varul Mayank. It focuses on creating local content, and claims to be generating more than 20 million organic impressions per month.
It will use the capital it has raised to deepen market penetration, launch its subscription plan, and strengthen user engagement.
“We firmly believe that the hyperlocal economy is the next wave of growth for Indian startups and Knocksense is perfectly poised to leverage this,” Tyagi said.
Wright Research & Capital Pvt Ltd, an artificial intelligence-powered investment adviser, on Thursday said it has raised an undisclosed amount in pre-seed funding.
The funds were raised from BSE Institute Limited Ryerson Technology Startup Incubation Foundation, which is supported by the government's NIDHI Seed Support System, and others.
Singapore-based Innovation Partners Capital and Ajat Hukkoo, director of engineering at US-based Broadcom, also participated in this round.
Wright Research was founded in 2019 by Sonam Srivastava, an IIT Kanpur graduate. The startup, which is registered with the Securities and Exchange Board of India (SEBI), is a quantitative investment manager that uses data and algorithms to invest.