Wearable technology startup HUG Innovations raises USD 5 million for Series A
HUG Innovations
Founders: Raj Neravati
Founded in: 2014
Financing status: USD 5 million for Series A round in 2017
Wearable technology startup HUG Innovations has raised USD 5 million in its Series A financing round led by NRI Startup India.
HUG Innovations was founded by Raj Neravati in 2014. The startup is a technology company which designs and manufactures wearable smartwatches.
The Hyderabad-based startup has developed a gesture control smartwatch weighing 46 grams. The gadget has special features in the areas of health and nutrition, personal safety, device remote gestures control, and fitness factor monitoring. The smartwatch can access a food database which learns the user’s favorite food and makes special suggestions. It can also recognize the user’s nutrition intake and track heart rate. With the user’s prior permission, smartwatch reflexively reacts to threatening situations and sends a distress signal to the user’s family. The smartwatch also provides the user with easy control of remote devices. With single gesture like push, pull, up, down, left and right, the user can control presentations, media players, YouTube, smartphone music players, home automation through the smartwatch. Moreover, with continuous gestures like forward, backward, up, down, left and right, the user can control things like remote controlled cars and toys, virtual reality headsets, and computer games.
The company will use the newly raised investment to develop application areas including fitness, virtual reality, industrial automation, and drones.
Travel solution startup V Resorts attracts USD 4 million for seed round
V Resorts
Founders: Aditi Balbir
Founded in: 2011
Financing status: USD 4 million for seed round in 2017
Travel solution startup V Resorts has raised USD 4 million for its seed round led by Seedfund and RB International.
V Resorts was founded in 2011 by Aditi Balbir. The startup is an accommodation provider in India’s leisure travel space.
The Noida-based startup provides travel solutions covering the entire gamut of hospitality services including vendors, procurement, booking, and feedback. It introduces travelers to new destinations and unexplored places in India, and it wants to expose urban travelers to unique travel experiences such as discovering regional arts and crafts, and indigenous food. The company claims that it manages more than 70 properties with over 800 rooms in 14 states across the country.
Shailesh Vikram Singh, Executive Director of Seedfund, commented that the startup’s strategy is to build travel choices even to the most inaccessible places and create profitable businesses with the local community’s involvement. Founder Aditi Balbir also shared that the company’s international expansion is being planned.
The startup will use the newly raised fund to invest in consumer and operator interfaces.
(Top photo from HUG Innovations’ Twitter page)
