Virohan, an edtech company in healthcare space, has raised additional funding from Rebright Partners to top up its Series A round to a total of $3 million, the company said in a statement.
The proceeds from the fundraise will be used for expansion and addition of new campuses. The firm will also use the proceeds to augment its proprietary learning platform.
“With this funding, we plan to educate over one million students by 2025 through our blended learning platform. This funding is not just going to help us expand operations but will also help in successfully creating an army of skilled paramedical workforce,” said Kunaal Dudeja, chief executive officer and co-founder, Virohan.
"Virohan's full-stack offering brings in key stakeholders and partners in the ecosystem together on a common platform to address the challenges faced by students, trainers, hospitals and healthcare innovators,” said Brij Bhasin, general partner, Rebright Partners.
The company statement said that as part of the total fundraise, the Series A and seed rounds were raised from Rebright Partners, elea Foundation for Ethics in Globalization, the Singh Family Trusts advised by Artha Impact, Yunus Social Business, Better Capital and Keiretsu Forum.
The firm claims that it has trained over 5,500 students and is aiming to double student enrolment from 1,100 students a year to 2,000 students a year.
BankSathi
New Delhi-based fintech startup BankSathi Technologies has raised a $200,000 seed funding round from a group of angel investors including Dinesh Godara, founder of TREAD; Rajendra Lora, founder of Freshokartz; and Anuj Ahuja and Aditya Talwar, founders of Studybase.
Founded in January 2020 by Jitendra Dhaka, Sandeep Choudhary and ex-banker Himanshu Pujari, the startup will use the funding for product development, team building and executing marketing and growth plans.
BankSathi aims at promoting the role of financial advisors in decision-making while buying retail loans, credit cards and insurance products through their BankSathi Advisors App.
“We currently have 5,000 plus advisors across 700 PIN codes of India. We have 45 products of 15 financial institutions in our bucket to sell and we are targeting one million advisors, and 150 products of 50 plus financial institutions ready to distribute through BankSathi App by the end of this financial year,” said Jitendra Dhaka, founder and chief executive officer, BankSathi Technologies.
“We liked the idea as this is solving a huge mess in the distribution of retail financial products. Also, there is a market which is not yet tapped properly; and India is in the process of witnessing a huge shift in the fintech space, as the major reselling of products is going to be smartphone-driven, which is majorly going to be through social commerce,” said Godara.
Nemo
Platform for early stage investments Mumbai Angels Network has invested an undisclosed amount in Nemo, a smart cloud-based neobank for small businesses.
Positioned as an easy, secure, and smart cloud-based neobank for small businesses that unifies banking accounting, credit, and operations, Nemo is the brainchild of IIM Ahmedabad alumni Ashish Deswal and Jeevan Gopisetty.
Based out of Hyderabad, Nemo aims to create a first-of-its-kind business through its banking platform that aims to simplify the financial aspect of business for India’s MSMEs and empower them with the right tools, resources, and networks that large corporations have access to.
The freshly infused funds will be used to help Nemo accelerate its product development, hiring, and customer acquisition.
“We have been closely monitoring what the neobanks in Europe have been able to accomplish in a short period. However, these models may not be directly applicable in India as our MSMEs have a wider spectrum of needs and starkly different behaviour in terms of finance and banking as opposed to their western counterparts,” said Ashish Deswal, co-founder, Nemo.
“MSMEs are the backbone of the Indian economy. But they often face multiple challenges when it comes to access to banking and finance. As the Fintech industry grows exponentially in their offerings and footprint, our investment will help a fast-growing platform such as Nemo to scale and expand to empower the country’s MSMEs with the required access to financial services,” said Nandini Mansinghka, co-promoter and chief executive officer, Mumbai Angels Network.
Nemo is currently piloting with a small cohort of selected customers and plans to scale rapidly over the next 12-18 months.