Fintech startup BASIC Home Loan has raised $4.7 million in a pre-Series B round, while Mykare Health has raised $2.01 million in a seed funding round. Separately, Natural Capsules has secured around $9.1 million from Somerset Indus Healthcare.
BASIC Home Loan raises $4.7m
Fintech startup BASIC Home Loan has raised $4.7 million in a pre-Series B funding round led by stock market investor Ashish Kacholia, per an announcement.
Existing investors Gruhas Proptech and Venture Catalysts along with new investors Dexter Angels, IIM Indore Alumni Angel Fund, and CommsCredible Venture Fund also participated in the round.
With the latest infusion, the company’s total funding stands at $8.7 million, including a $3.5 million Series A round in October 2021.
Founded in 2020 by Atul Monga and Kalyan Josyula, BASIC Home Loan will use the funds to expand its distribution network to new geographies, and build its lending vertical. It aims to disburse over Rs 6,000 crore worth home loans over the next 18 months.
Mykare Health secures $2m
Mykare Health, a digital health startup, has raised $2.01 million in a seed funding round, it announced on Thursday.
The round saw participation from renowned investors such as OnDeck ODX – US, Avaana Seed, Huddle, Endurance Capital, F Health, VeritasX, Stanford Angels, Phoenix Angels, Ajit Mohan (Founding CEO, Hotstar & Former MD, Meta India), Nitish Mittersain (Joint Managing Director, Nazara Technologies), Hari TN (Ex-BigBasket), Arjun Vaidya (Founder, Dr. Vaidya’s), Sean (Hyunil) Sohn (CEO, Krafton), Niraj Karia, Ankit Tandon (Global CBO and CEO, OYO), Nikhil Jaisinghani (Executive Director, Polycab India), and Dr Deepu Sebin (Ex-CEO & Founder, DailyRounds), among others.
The freshly raised capital will be deployed towards elevating the overall patient experience and bolstering talent acquisition efforts, the startup said in a statement. Founded in 2021, Mykare Health is currently operational in 12+ Indian cities with 200+ hospital tie-ups.
Somerset Indus backs Natural Capsules
Natural Capsules Limited has secured an investment of approximately $9.1 million (Rs75 crores) from Mumbai-based private equity firm Somerset Indus Healthcare, per an announcement.
NCL is setting up a greenfield facility for manufacturing active pharmaceutical ingredients (API) under its subsidiary NBPL. The investment from Somerset Indus Healthcare, which will come in the form of compulsorily convertible preference shares, will be utilised to fund the project capex of the API facility.
NCL, headquartered in Bangalore, primarily manufactures empty hard gelatin capsules (EHGC) and empty hard cellulose capsule (EHCC) shells. The company has a manufacturing unit in Bangalore and another in Pondicherry, with an aggregate production capacity of 16.7 billion capsule shells per annum and caters to both domestic and international markets.