[Funding roundup] Pi Beam Electric, Seekho.ai, UPCRED, TrustCheckr raise seed capital
EV startup Pi Beam Electric raises $1.7M in pre-Series A led by Inflection Point Ventures
The round also saw the participation of family offices including the Sattva Group and Nanavati Family, unions including Sincere Syndication and Conscience Multi-family Office.
Industry stalwarts Arshad Sayyad (Former Director of Fidelity Investments in India), Vijay Ratnaparke (CIO of Robert Bosch), Shaji Koshy (Former SVP Royal Enfield) and Ashok Jhunjhunwala (Institute Prof IIT Madras and President IITM Research Park, IITM Incubation Cell and RTBI) also participated in the round, in addition to existing investors.
The startup will use the capital to grow the deployment platform, expand its team, expand operations to multiple cities, and develop new products.
Electrical Pi Harness – a vertically integrated “EV as a Service” platform for logistics and transportation applications – was founded by Visakh Sasikumar and Manu Iyer in 2013. The startup had pivoted to build an EV ecosystem platform with a extensive knowledge of EVs acquired by selling more than 1000 EVs in the B2B market.
It has a presence in Bengaluru and Chennai, with over 100 electric vehicles in its fleet. By the next financial year, it plans to expand to Hyderabad, Mumbai and Delhi, and increase the fleet to 2,000.
Seekho.ai raises $3 million in pre-Series A
Seekho.ai, owned by Seekify – a career accelerator that combines live learning, mentoring and employment – said it raised $3 million in a pre-Series A funding, which saw participation from JM Financial Group’s Family Office, LetsVenture, Trica, Super Morpheus, Yuj Ventures, Sequoia Capital India’s Surge and angel investors Varsha Rao and Amit Ranjan .
The Delhi-based edtech startup will deploy the capital to grow its business model – all-inclusive access to career-related courses and workshops taught live by industry mentors.
Arihant Jain, co-founder of Seekho.ai, said:
“We believe in providing Indians with world-class professional education at affordable prices. We believe that Stanford/Harvard’s level of quality content and an app-based approach to learning is the need of the hour to solve India’s demographic dividend problem. Our vision is very broad and we are just getting started.
Launched in April 2021 by Divya Jain, Ajeet Singh Kushwaha, and Arihant JainSeekho.ai helps job seekers get started in marketing, finance, analytics, products, and more, and succeed in the dynamic world of work.
It is developing an AI engine to make learning more personalized and job matching more relevant. Seekho says its 525,000 users have already learned from more than 460 industry gurus and more than 10,000 have secured jobs at more than 300 companies.
The startup claims to hit a revenue rate of $5 million and plans to enable seven million users by the end of 2023.
UPCRED creator marketing platform secures Rs 3.3 Cr in pre-seed round
The platform designed for high brands and creators Rs. 3.3 crore in a pre-seed round of angel investors including entrepreneur Syed Firdous Hussain and Gayatri Nikkam.
UPCRED will use this funding for MVP product development and prepare the platform for market launch.
Founded in 2021 by Sanjay Choudhary, Dharmpal Chaudhary, and Aditya BhattacharjeeUPCRED aims to be a global platform that enables creators and businesses to advertise, learn and create monetizable content through paid promotions and affiliate marketing programs.
It aims to enable the creator economy through a unified platform, creating open revenue opportunities for creators and providing end-to-end influencer marketing services for brands.
Syed Firdous Hussain and Gayatri Nikkam noted,
“With 2022 billed as the Year of the Creator, we believe UPCRED will be at the forefront of the creator economy. We believe the products we build will empower millions of creators.”
IIFL Fintech fund invests significantly in TrustCheckr
Early-stage fintech funds IIFL Fintech Fund made a significant investment in TrustCheckr – a Bengaluru-based fraud analytics solution provider – founded by IIM Lucknow alumnus Adhip Ramesh and University of Liverpool alumnus Shivraj Harsha in 2017.
TrustCheckr will use the capital to expand its use in banks, NBFCs, fintechs, payment companies and offices in India. Additionally, it will invest in improving its existing social rating and social fraud detection capabilities to further reduce digital fraud.
Going forward, the company plans to further enhance its social analytics technology, which has multiple use cases like fraud prevention, customer profile enrichment for auto-approvals, targeting, and customer reviews. use of recommendation.
Adhip Ramesh, Founder of TrustCheckr, said, “Digital fraud is increasing rapidly in the online world, a robust and foolproof framework is the need of the hour. Businesses should look at alternative data collected from social media, websites, etc., and use it effectively to prevent fraudsters from the onboarding stage. TrustCheckr is at the forefront of helping businesses achieve this.
TrustCheck features a proprietary algorithm tested on over a million data points and used in AI and ML in image comparisons. It assigns a trust score to the user based on phone number, Facebook ID or email. The company has already performed more than 10 million TrustChecks, to date, with more than seven clients.
Mehekka Oberoi, Fund Manager, IIFL Fintech Fund, noted,
“We use TrustCheckr in our digital lending business, and the solution has helped us identify digital fraud. TrustCheckr is well placed and has a first mover advantage in this space.