Tech Financing in India this week – POS solutions lead

India’s POS (Point of Sale) solutions market is growing quickly, as Flipkart and Paytm have increased their market share month by month. On June 1, Pine Labs, another Indian POS player that provider simplified payment systems, raised USD 125 million in funding from Temasek and PayPal. The company will use the funds to expand across the country and further develop its product suite.

1. On June 4, Sports Flashes secured USD 1 million in a pre-Series A round of funding led by SRI Capital. Sports Flashes is a sports content app that offers TV, live scores, and other athletics-related services. Its content feed is available in seven Indian languages. The startup will use the funds to expand its operations.

2. On June 4, Locus secured USD 4 million in a pre-Series B round of funding that was led by Rocketship.vc, Recruit Strategic Partners, pi Ventures, and Hemendra Kothari of DSP Group. Locus is an intelligent logistics automation platform that provides built-in route planning and a vehicle allocation services. The startup plans to use the funds to improve its software and increase its footprint in the global market.

3. On June 5, Zoctr raised an undisclosed amount in a pre-Series A funding round from NB Ventures and others. Zoctr is a healthcare aggregation platform that integrates various health services like at-home doctor appointments, and home ICU and elder care services. The startup plans to use the funds to improve its technology and healthcare sector expertise.

4. On June 6, Orbo raised an undisclosed seed round of funding from London-based Founders Factory. Orbo is a computer vision and AI-powered imaging startup that specializes in products such as deep facial tracking SDKs (software development kits), image retouching SDK, and virtual makeup SDK. The startup is hoping to expand its business across Europe.

5. On June 7, Meesho raised USD 11.5 million in a Series B round of funding led by Sequoia Capital. Meesho is an ecommerce platform that is integrated with Facebook and Instagram so that resellers can use the social media platforms to promote their products. The startup plans to use the funds to boost its technology and improve its team.

(Top photo from Google)

Simin Li
Simin Li

Simin writes for us, by focusing on tech and financing news in Asia. She’s also interested in politics, cyber culture, and new media. She is studying English Language and Literature at Renmin University of China.

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