Rubix Data Sciences, a technology and analytics-based B2B risk management and monitoring platform, has raised Rs 6.2 crore in its second round of funding.
The round saw participation from institutional investor Cactus Venture Partners, family offices and high net worth individuals (HNIs).
The proceeds will be used for enhancing technology and analytics capabilities of the Rubix Automated Risk Management and Monitoring System platform.
Rubix was launched in 2018.
"Covid-19 has also enhanced the credit and fraud risk faced by businesses worldwide. This volatile environment has created new challenges for businesses in assessing and monitoring the financial risk of customers, distributors, dealers, suppliers and other third parties in India and overseas,” said Mohan Ramaswamy, co-founder & chief executive officer, Rubix Data Sciences.
The statement said that the company has over 200 customers from banking, credit insurance and corporate sectors.
Milan Ganatra, founder and former CEO of Miles Software, marked his entry into India’s online gaming ecosystem with an investment in HalaPlay Technologies Pvt Ltd.
A veteran in software technologies and investment, Ganatra will be
seen mentoring the young team of HalaPlay in his investor role.
“I have been keeping a close eye on the space. India’s online gaming ecosystem has been on a consistent upward trajectory with the market set to grow to Rs 18,700 crore by 2022. With the incredible potential it has shown so far, I felt that it was the right time to make a move. HalaPlay is amongst the top companies in the category which makes it an ideal platform to enter the space with,” he said.
Ganatra began his entrepreneurial journey with Miles Software in 1998 and nearly two decades later sold it to Ebix Cash in 2018. Currently, he is spearheading his new venture, 1Silver Bullet, a fintech platform that provides gateway infrastructure for a range of tech-based avenues in areas such as wealthtech, findtech, edutech, agritech, insurance, travel tech.
Additionally, he has made investments in Finalyca (joint venture with PMS Bazaar) and education funding company Financepeer.
RuleZero, a legal and fintech platform, has raised Rs 10 crore in seed funding to enhance its technology development and increase customer deployments.
The round was led by Rainmatter Capital, a Zerodha backed startup incubator and fund, with participation by Infosys cofounder Kris Gopalakrishnan, IndusLaw and Reddy Futures LLP amongst others.
RuleZero was incubated at IndusLaw, a law firm.
Founded in 2019 by Satish Mugulavalli and Srinivas Katta, RuleZero has developed a platform that manages data of the company, automates share issuance processes, ESOP creation and provides mechanisms to track and certify cap tables and manage transactions.
Srinivas Katta, one of the founders of RuleZero, said, “Manual processes, limited number of skilled professionals and the absence of a single source of truth has resulted in private companies suffering from compliance issues, limited liquidity, high financing costs and delays. RuleZero is solving this problem by building an intelligent platform that enables stakeholder participation and capital flow in a transparent, efficient and compliant manner.”
“RuleZero is a platform that automates various manual tasks and paperwork involved in private investments and facilitates such transactions,” said Nithin Kamath, founder and chief executive officer of Zerodha.
Full-stack e-commerce enablement startup ANS Commerce has acquired Asterro, a software development firm focused on building B2B cloud ERP (enterprise resource planning) products across web and mobile.
“We are delighted to onboard the Asterro team. This will help us as we continue to innovate across multiple channels and work towards achieving our vision of making e-commerce easy in India,” said Vibhor Sahare, co-founder and chief executive officer of ANS Commerce.
“After gaining good traction on Kartify, we were looking to further strengthen our product and tech team and that’s how Asterro came into the picture. We acqui-hired Asterro because of their ability to offer high-quality tech solutions,” said Sushant Puri, co-founder of ANS Commerce.