Several Indian startups have raised funds across various categories from September 16 to September 20, Fintech, FinOps, Domestic help service provider, etc. We will highlight six such transactions, including how these startups plan to use the raised capital.

Aye Finance | Micro Lending Platform

Microlending platform Aye Finance has secured Rs 250 crore ($30 million) in a Series G round led by Singapore’s ABC Impact. 

As per the startup, the funding will be used to scale operations and enhance the ability to deliver value to the target segment of micro enterprises.

Founded in 2014, the lender focused on small and medium enterprises is backed by Alphabet’s growth fund Capital G, Elevation Capital and others. Its initial investors are not participating in this round.

Sanjay Sharma, Founder and Managing Director of Aye Finance, stated we are excited to announce our Series G equity round. We have been fortunate to have stellar names from the industry partner with us in our mission to enable financial inclusion of the underserved segment right since 2014.

Bookmybai | Domestic help service provide

Bookmybai has raised Rs 2 crore in its pre-Series A round led by Inflection Point Ventures.

As per the startup, the funding will be used to expand to new locations and bring on 50,000 additional housemaids, strengthening Bookmybai’s network and service efficiency.

Founded in 2016 by Anupam Singhal, Bookmybai enables families in India and abroad including cities like Mumbai, Pune, Thane, Bangalore, Hyderabad, UK, U.S.A, Singapore, China and Australia to easily hire dependable, permanent domestic help for their homes. 

Vinay Bansal, Founder & CEO, Inflection Point Ventures stated that, with increasing demands of modern life, families often struggle to juggle their career with managing household responsibilities. By sending trustworthy house help, Bookmybai enables families to focus on other areas of the household.

NowPurchase | SaaS-enabled marketplace for metal manufacturers

NowPurchase, a SaaS-enabled marketplace for metal manufacturers, has raised $6 million in equity and debt round led by Info Edge Ventures.

As per the startup, the funding will be used for entering new markets and introducing new solutions to enhance its services.

Founded in 2017 by Naman Shah and Aakash Shah, NowPurchase procures raw materials through its scrap recycling services and metal cloud platform to benefit metal manufacturers.

Bluecopa | FinOps Automation Startup

Finance operations (FinOps) automation platform Bluecopa has raised $1.8 million in a pre-Series A funding round co-led by Blume Ventures, Dallas Venture Capital, and Venture Catalysts.

As per the startup, the funding will be utilized to expand market reach, enhance AI capabilities, and advance product development.

Co-founded in 2021 by Nilotpal Chanda, Raghavendra Reddy, and Satya Prakash Buddhavarapu, Bluecopa leverages AI and data analytics to enable the office of the CFO to drive efficiency through autonomous financial processes.

Satya Prakash, stated FinOps automation is a massive opportunity globally. We are excited to partner with some of the leading VCs to drive Bluecopa’s growth. This funding will fuel our mission to deliver exceptional value to our customers.

Kaleidofin | Fintech startup

Kaleidofin has raised $13.8 million in a new round led by Rabo Partnerships B.V. Existing backers Michael & Susan Dell Foundation, Oikocredit, Omidyar Network India and Flourish have also participated in the round.

As per the startup, the funding will be used to scale its lending portfolio and expand credit scoring, middleware, and risk services through selected partnerships.

Led by Sucharita Mukherjee and Puneet Gupta, Kaleidofin offers products such as KaleidoGoals, a goal-based savings solution; KiScore, a supervised machine learning-based automated credit health checking platform for informal sectors.

Sucharita Mukherjee, Co-founder & CEO of Kaleidofin, said the synergy between the company’s expertise in the Indian rural economy and Rabo’s focus on agriculture will enhance their ability to serve and underwrite agricultural customers with more tailored loan solutions.

Redcliffe Labs | Omnichannel diagnostics service provider

Redcliffe Labs has raised $42 million in a Series C funding round led by Denmark-based investment firm IFU, which contributed $20 million.

As per the startup, the funding will be used in Redcliffe’s expansion plans, particularly in deepening its presence in tier II and III cities across India.

Founded in 2018 by Aditya Kandoi and Dheeraj Jain, Redcliffe Labs is an omnichannel diagnostic platform offering over 3600 pathology tests, genetic screening and DNA-tests in reproductive health, cancer and wellness.

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