Fintech startup Perpetuity Capital on Monday said it has secured Rs 1 crore (around $7.5 million) in a funding round from Sungrace Finvest.
The Kolkata-based firm, which is also the digital arm of Oracle Marketing, plans to deploy the fresh proceeds to ramp up its tech capabilities. It also looks to expand its EV OEM tie ups and help with financing their B2B and retail sales.
Founded by Karmveer S Dhillon and Karan Singh Dhillon, Perpetuity Capital enables asset and electric vehicle ownership for single-owner operators, drivers, and underserved entrepreneurs in the auto sector.
"..We are looking to fund this green revolution that is taking place in India. A society-altering shift is happening as we speak with EV in India. Currently, only 1.3% of all vehicles sold in India are EVs. Once this figure crosses the 5% threshold, it will signal the start of mass EV adoption….Perpetuity Capital is hoping to enable the adoption of a greener and cleaner mobility solution,” said Karamveer Dhillon, Co-Founder and chief executive officer of Perpetuity Capital.
Intercity bus platform ApniBus has raised an undisclosed amount of funding in a pre-seed round led by early-stage venture capital firm Antler India.
The round also saw participation from GoodWater Capital and angels including Niraj Singh (founder and CEO at Spinny) and Asish Mohapatra (founder and CEO at OfBusiness).
The Gurugram-based startup will use the fresh funds to ramp up its operations across India.
Founded by Sumit Gupta and Ravi Yadav last year, ApniBus is a full stack solution for commuters to find, track and book their intercity bus via a mobile app. It claims to be live in over 15 cities on more than 350 routes connecting over 1,000 destinations.
“ApniBus is going to significantly improve this experience with tech intervention. We are digitizing the bus journey and have built solutions to manage their real time schedules with real time inventory, so that commuters don't have to wait at bus stops for hours or travel on long journeys with no seat. We are already seeing great traction in the cities we are live in and have ambitious plans for ramping up operations across the country,” said Gupta.
“The Bharat customer has embraced digital experiences for everything from UPI payments to Amazon e-commerce, but the essential needs around intercity travel remains unsolved for three crore travellers every single day, with over 95% of buses not digitized. Intercity bus travel for the tier-3 and 4 markets has been underserved by existing players and we are thrilled to support ApniBus in its journey of transforming this space,” said Nitin Sharma, partner at Antler India.
