Digital India Payments Ltd (DIPL), a financial technology company, has raised Rs 5.75 crore (around $811,000 at current exchange rates) from the United States-based investment group IC1101.
The company raised the funding after participating in Horses Stable, the Indian adaptation of American television show Shark Tank.
In a statement, Horses Stable founder Prashant Agarwal said the platform screened over 200 applicants and chose 39 startups to present their products to a select group of investors.
Around 18 companies bagged funding from the investors, with DIPL getting the biggest cheque, according to Agarwal.
Other startups that received funding include Mitra Robot, a robotics startup which raised funding from ITI Growth Opportunities, IC1101, Windrose Capital and angel investor Kevin Saboo.
Ringtel Marketing, PawsIndia, and ANP Atelier and Associates also received funding.
Investors that participated in Horses Stable included Rohit Goyal, a graduate of the CASS Business School who has made several investments in India and abroad, according to the statement. The platform also included Nilesh Trivedi, a venture capital professional who has investing and operating experience across early-stage, growth-stage and Fortune-50 companies.
The startups that participated in the platform work in sectors such as pharmaceuticals, financial technology, consumer products, business-to-business and business-to-customer.