Our weekly column summarizes tech financing highlights in India.
Industries targeting holiday services now make up a very large and profitable market in India. In particular, the travel industry has the potential for fast growth, as a legion of startups develop innovative technological solutions to meet market demands. On April 10, TravelTriangle landed USD 12 million in a Series C round led by Fundamentum. TravelTriangle is an online travel marketplace that brings together both travelers and travel agents on a common SaaS-based CRM platform. With the fresh capital, the company will strengthen its customer interaction software by creating new technology, expand to new travel destinations, and invest in brand building.
1. On April 9, Kaleidofin raised USD 2.8 million in seed funding from Omidyar Network and other firms. Kaleidofin is a fintech startup which provides customers with intuitive and tailored financial solutions using intelligent algorithms. The startup will use the funds to develop its technology and analytics, speed up its customer acquisition process across India, and expand its network of strategic partners.
2. On April 10, LoadShare secured USD 5 million in a Series A round of funding from Stellaris Venture Partners and Matrix Partners. LoadShare is a logistics startup that aims to build a national distribution network to empower small and medium-sized logistics enterprises through better technology. The company will use the funds to enhance its technology infrastructure and expand its footprint in India.
3. On April 10, Elemential raised an undisclosed amount of funding from Matrix Partners and others. Elemential is a blockchain administration platform that helps developers build and run blockchain networks at large scales. The startup will use the funds to expand its team.
4. On April 11, IDG Ventures India led a USD 1.87 million seed funding round for Kristal.AI. Kristal.AI is a Singapore-based A.I.-powered digital asset management platform focusing on investors in Singapore, Hong Kong and India (Bengaluru and Mumbai). With these funds, the startup will enhance its technology, speed up the integration of machine learning capabilities, and expand into South-East Asia, the Middle-East and the U.S.
5. On April 12, LetsMD secured USD 1 million in a pre-Series A round led by SRI Capital and other firms. LetsMD is an online medical assistance healthcare portal that provides information on elective surgeries. The startup will utilize the funds to scale-up its operations across India.
(top photo from unsplash.com)