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WizKlub, HappyPlus, Ashok Leyland ink deals
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WizKlub, an education-technology startup that focuses on holistic cognitive development of children, has raised Rs 6 crore (around $825,207) in a pre-Series A funding round.

Bengaluru-based WizKlub said it has raised this capital from Incubate Fund India, which is an existing investor in the company. The fund is backed by Japan’s Incubate Fund.

This development comes after the company in January last year raised Rs 7 crore (around $1 million) in seed funding led by Incubate Fund India, with participation from social-impact investor Insitor Impact Asia Fund.

WizKlub, operated by Wizklub Learning Pvt Ltd, was set up in 2018 by Amit Bansal. The company says its platform promotes cognitive skills in children between the ages of 5 and 15.

The firm will use the capital it has raised to accelerate growth and run rate. It claims to have so far delivered more than 100,000 hours of personalised learning content to students across the world.

HappyPlus

Artificial intelligence-based HappyPlus Consulting has raised an undisclosed amount in funding.

The Mumbai-based entity said it has secured this capital commitment from a high net-worth individual based in Dubai.

The entity, operated by HappyPlus Consulting Pvt Ltd, was set up last year by Ashish Ambasta. It says its platform focuses on building employer-employee relationships to achieve organisational happiness.

The startup says it has already worked with companies including Tata Steel, TM International Logistics, a health insurance company, and a public service utility firm.

Ashok Leyland

Ashok Leyland, a Chennai-headquartered multinational automobile company, has acquired a 26% stake in a solar energy company, it said on Tuesday.

The firm has picked up this stake in Prathama Solarconnect Energy Pvt Ltd for a consideration of Rs 18.66 crore (around $2.56 million), it said in a stock-exchange filing.

This investment is being made to allow the company to purchase solar power at a subsidised rate under a group captive scheme. It is also being made at an arm’s length basis, Ashok Leyland said.

Ashok Leyland is the flagship company of the Hinduja Group. It operates in several segments, including trucks, buses, light vehicles, power solutions, defence, and spare parts.

The company reported consolidated net sales of Rs 21,951.27 crore for the 2019-20 financial year, with post-tax profits of Rs 459.8 crore for the same period.

Shares of Ashok Leyland ended trading on Tuesday 1.23% down at Rs 128.75 apiece.

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