February 22, 2018
Hyperlocal delivery startup Grab, healthtech firm The Healthy Billion and technology company HighRadius have received funding.
Hyperlocal delivery startup Grab gets raises $1.3m
Hyperlocal delivery startup Grab has received $1.3 million investment from Maharashtra State Social Venture Fund, managed by SIDBI Venture Capital according to a report by to a paper.vc.
As per the report, the Mumbai-based Grab a Grub Services Pvt Ltd, which operates under the brand Grab.in, has allotted 10 equity shares of Rs 10 each at a premium of Rs 19,219.67 each and 89,807 debentures of Rs 1000 each on January 20, 2018.
Grab provides delivery service for businesses and merchants. Its fleet of riders are connected via a technology platform that allows merchants to book delivery requests and obtain real time updates.
Established in 2015, Maharashtra State Social Venture Fund is an Alternative Investment Fund, which works as a close-ended unit scheme of Maharashtra Laghu Vikas Trust. It has a corpus of $31.2 million. The fund has also backed startups like Hola Chef and ice cream manufacturer Shantiraj Foods Pvt Ltd.
The Healthy Billion raises $2.1m led by Blume Ventures, Healthquad
Gurgaon-based healthcare analytics startup The Healthy Billion, has raised Rs 14 crore ($2.1 million) in a funding round led by Blume Ventures and Healthquad, said a paper.vc report.
The latest round of funding, which is likely to be an extension of its seed round, also participation of Fireside Ventures, Apoorva Patni, and Arpan Sheth, partner in Bain & Co.
The Healthy Billion operates a health tech platform called THB Clinytics, is designed to help track and analyse patient data.
According to another report in The Economic Times, the startup plans to use the funds to expand technical teams.
Citi Ventures, PNC back HighRadius Corp
HighRadius Corporation, a company which provides cloud-based integrated receivables software solutions, has raised an undisclosed amount of funding from Citi Ventures and PNC.
The US and Hyderabad-based company had last has raised $50 million from US-based Susquehanna Growth Equity LLC in September last year.
“We plan to keep investing in our expansion across North America, Europe, and the Asia, while continually disrupting B2B payments by enabling frictionless payment processing,” said HighRadius founder Sashi Narhari.
Fintech enterprise Software-as-a-Service (SaaS) company HighRadius was founded by Sashi Narahari, IIT alumnus in 2006. The company applies artificial intelligence and machine learning to all aspects of accounts receivable operations, including credit, collections, cash application, deductions and payments.
Also Read:
HighRadius gets $50m from US-based Susquehanna
India: Strand Life Sciences raises up to $13m from Quadria Capital