Fintech startup CredRight, logistics startup ShipEase and HRtech startup MyWays.ai have secured early-stage funding, the companies said on Thursday.
Fintech startup CredRight has raised $9.7 million (Rs 78 crore) in a mix of equity and debt funding.
The equity capital round was led by the Michael and Susan Dell Foundation with participation from existing investors including YourNest, Spearhead Capital, 9Unicorns and AccionVenture Lab.
On the other hand, debt capital funding was provided by Blacksoil, Caspian Debt, RevX Capital and Westen Capital.
The Hyderabad-based startup plans to use the funding to expand into newer locations and strengthen its technology stack.
Founded by Neeraj Bansal and Vineet Jawa, CredRight is a fintech startup that provides institutional debt capital to micro, small and medium enterprises (MSMEs) in tier 3 and 4 towns in India.
“We have served more than 5,000 nano enterprises, and this fund-raise will help us expand our reach. Our phygital model, underwriting ability and understanding of nano enterprises help us reach remote areas and provide loans whilst ensuring profitability,” said Bansal.
The company is targeting assets under management (AUM) of Rs 2,000 crore over the next three years.
Logistics startup ShipEase has secured $1 million (Rs 8.26 crore) in a pre-Series A funding round from Inflection Point Ventures.
The funds will be used to expand the team, improve the technology, and develop new products along with branding and marketing.
Founded in 2020 by Pawan Kumar, Ajay K, and Lalit Singh, ShipEase is a software-as-a-service (SaaS)-based logistics provider that provides direct-to-consumer (D2C) and small and medium enterprises (SME) end-to-end automation for varied delivery requirements to make their supply chain efficient and streamlined.
HRtech startup MyWays.ai has secured Rs 80 lakh in a seed funding round from early-stage investor Real Time Angel Fund (RTAF).
The startup is planning to use the funds to increase its user base, develop its technology stack and expand its product offerings.
MyWays.ai is an artificial intelligence (AI)-based platform that streamlines and automates the entire recruitment process, from talent discovery and screening to interviews and training, enabling organizations to make informed decisions efficiently and reduce manual efforts.
“With the soft launch of the hiring tool suite, we witnessed a 4x surge in weekly product access requests. This fresh infusion of funds will help us expand our user base and extend our offerings to become a comprehensive software solution supported by dedicated services." Said Samyak Jain, co-founder and chief executive officer, MyWays.ai.
MyWays.ai claims to have a network of over 110,000 candidates across 800 colleges, and 150 companies as clients.
