US-based flexible work app Instawork has marked its first acquisition in India, buying YCombinator and Elevation Capital-backed startup Able Jobs, to strengthen its product suite.
Instawork aims to leverage Bengaluru-based Able Jobs's product to enhance its own capabilities and explore new segments. This acquisition will also help Instawork build a product from India for the global market and benefit from Able Jobs's expertise, the company said in a statement.
As a part of the acquisition, Ravish Agrawal, co-founder and CEO of Able Jobs, will serve as an advisor to Instawork, while Siddharth Srivastava, co-founder and CPO will join the Instawork team as a product leader.
Able Jobs, founded in 2019 by Agarwal and Srivastava is a jobtech platform for professionals. It aims to bridge the gap between education and employment through in-house designed training programmes.
Kindlife
Health, beauty, and wellness platform Kindlife raised $8 million in a Series A funding round. This round was led by the JB-Dooeun TK Fund and MIXI Global Investments, with participation from Kalaari Capital and other angel investors.
JB Investment and Dooeun & Company, private equity firms based in South Korea, have partnered to form the JB-Dooeun TK Fund. This fund led the Series A round in Kindlife. TKN Advisors served as the advisor for the fund.
Previously, the startup had raised a seed round of $2.5 million from Kalaari Capital, Titan Capital, Java Capital, and others.
Kindlife was founded by Radhika Ghai, Vidit Jain and Manasa Garemella. The company uses proprietary AI technology to help Gen Z consumers discover personalized skincare and wellness routines and products. The fresh infusion of funds will enable Kindlife to expand its base in Korea, Japan and India, the company said in a statement.
Anicut Capital has invested Rs 60 crore ($7.1 million) in BlueBinaries Engineering and Solutions Pvt. Ltd, an engineering and technology services company for the mobility industry.
Founded in 2017, BlueBinaries is an engineering R&D services player in the mobility industry. It has customer base in Europe, UK, US and APAC regions. The company focuses on accelerating the development of Software Defined Vehicles (SDVs) with E/E architecture design & development services and digital technologies like Cloud, Devops, AI/ML, cybersecurity and IoT solutions for its customers.
With the latest infusion, the startup intends to advance its initiatives by developing intelligent automotive technologies. It will enable the company to build on our existing robust customer base of OEMs and tier-I automotive suppliers across geographies, enhance its SDV and Digital capabilities, the company said in a statement.
Digital healthcare startup Karma Primary Healthcare secured funding from UBS Optimus Foundation as part of its Series A funding round. This investment brings the total Series A funding to Rs 11 crore (about $1.3 million). The round also saw participation from 1Crowd and other investors.
As per the company, the capital will be deployed to enhance Karma’s technological capabilities; extend value-added services and expand the team as it builds-out a patient-centric care model for rural patients in India. Karma aims to reach 100 locations serving over 150,000 patients annually by 2027.
It will also support the enhancement of predictive analytics capabilities, allowing for improved patient data management and personalized healthcare solutions.
According to a statement, Karma aims to make primary healthcare more accessible, equitable, integrated, and evidence based. It has a presence across eight states in India and claims to have treated over 350,000 patients.
