AI start-up Vue.ai, publishing firm Leadstart Publishing and EnKash, a B2B payments management and automation platform, join the burgeoning list of elite startups to raise capital, signalling an increased investor interest in the sector. And they are not the only ones. As many as two medical devices startups also garnered funds to expand operations.
AI start-up Vue.ai raises $17m from investors
Headquartered in Redwood City, CA with offices in Chennai, Vue.ai has raised as much as $17 million in a Series B funding round, led by Falcon Edge Capital.
Existing investors Sequoia Capital and Global Brain, a GP of KDDI Innovation Fund, have also participated in the current round of funding. The artificial intelligence (AI) based start-up that has so far raised a total of $27.5 million capital, garnered its first round of funding in 2016.
The company plans to use the corpus to ramp up its team and scale its existing customer base.
Mumbai Angels Network leads funding in Leadstart Publishing
Mumbai-based Leadstart Publishing has raised as much as Rs 3 crore ($429,800) from angel investors to expand its operations, augment its customer base and develop its technology.
While the funding has been led by Mumbai Angels Network, JITO Angel Network and Hyderabad-based SucSEED Venture Partners have also participated in it. Established in 2006, Mumbai Angels has garnered a successful track-record with over 30 exits. It currently counts over 130 firms in its portfolio.
Leadstart Publishing, which started its operations about nine years ago, features distinguished authors and writing from across the world. It also has a platform that enables authors to self-publish globally.
EnKash raises funding from Mayfield India, Axilor
EnKash, a business-to-business (B2B) payments management and automation platform, has raised $3 million from venture capital fund Mayfield India and early-stage investor Axilor Ventures.
This marks the Series A funding round for the Mumbai-based company that plans to use will be capital to augment its existing technology base and for expand a leadership team, according to a statement. For the uninitiated, EnKash connects corporates, vendors and credit providers on its platform.
With the transaction, Vikram Godse, managing partner, Mayfield, will now join Enkash’s board of directors.
Venture Center invests in 2 medical devices startups
Technology business incubator Venture Center, headquartered in Pune, has invested an undisclosed amount in two medical devices startups Sensivision Health Technologies Pvt. Ltd and Kozhnosys Pvt. Ltd, it said in a statement.
While Sensivision, established in 2015, is a neonatal care startup focussed on the critical care segment of the newborn, Kozhnosys is involved in high-end research and development of medical equipment. It is in the process of developing a device to detect breast cancer at an early stage.
The funding will help the startups expand their operations and scale their business to the next level.