Investment Summaries: Openspace Ventures heads Series B funding for Fano Labs, Edukita, and Happynest; India observes seven investment deals, plus additional activities
In the world of technology and business, there's always something new and exciting happening. Here's a roundup of recent developments, including funding rounds and product launches, from various companies across the globe.
Fano Labs Launches Callinter and Completes Series B Funding
Fano Labs, a Hong Kong-based company specializing in language artificial intelligence technologies, has recently completed its Series B funding round. The company, established in 2015, offers solutions aimed at addressing common challenges encountered in multilingual environments. The details of the funding amount raised were not disclosed.
One of Fano Labs' upcoming products, Callinter, is an innovative tool designed to analyze audio recordings, detecting instances of misconduct or mis-selling. The capital infusion will fuel Fano Labs' expansion in the Asia-Pacific region, with a particular focus on establishing an office in Singapore.
Damensch Secures Funding, Higala Promotes Financial Inclusion
Damensch, a Bengaluru-based D2C menswear brand, has secured INR 216.2 million in an extended Series B funding round from existing investors including Matrix Partners, Saama Capital, Whiteboard Capital, and A91 Emerging Fund.
Meanwhile, Higala, a fintech startup based in the Philippines, aims to address the exclusion of financial service providers due to high switching and on-ramp costs. Higala operates a system that lowers the cost of real-time payments, promoting financial inclusion and encouraging merchants to accept digital payments. Talino Venture Studios and Chemonics International have jointly launched and invested in Higala.
IvyCap Ventures Closes Third Fund, Ion Energy Raises Series A
IvyCap Ventures, an Indian venture capital firm, announced the closure of its third fund at INR 21 billion (USD 251.6 million). On the other hand, Ion Energy, a Thai solar company, raised USD 3 million in a Series A funding round from Beacon Venture Capital (Beacon VC), the corporate venture capital arm of Thailand's Kasikornbank, and Solar United Network Group (SUN Group).
Other Notable Funding Rounds
- Culture Circle, a marketplace for luxury products, has raised an undisclosed amount in a pre-seed funding round from IIMA Ventures.
- Go Desi, a Bengaluru-based confectionery brand, has raised USD 4.9 million in a Series B funding round led by Aavishkaar Capital.
- Fresh From Farm, a Gurugram-based retailer of farm produce, has secured USD 2 million in a pre-Series A funding round led by angel investor Ashish Kacholia, with participation from Inflection Point Ventures.
- Plotline, a no-code app development platform, has raised USD 2.6 million in a seed funding round from Elevation Capital.
- Happynest, a Vietnam-based housing and lifestyle community platform, has secured USD 720,000 in a seed funding round.
- TalkEsport, an esports and video gaming media platform, has secured USD 1 million of pre-Series A funding from Saswat Ventures, a family fund floated by the startup's principal investor BL Sharma.
- Edukita, an Indonesian edtech startup, has raised seed funding from Star Capital Investments and W Ventures.
- Kyari, an Indore-based online seller of plants and pots, has raised around INR 65 million in a pre-Series A funding round jointly led by Agra Gwalior Pathways and Airen Holdings.
And in the World of Gaming...
TalkEsport, an esports and video gaming media platform, has secured USD 1 million of pre-Series A funding from Saswat Ventures, a family fund floated by the startup's principal investor BL Sharma. This funding will support TalkEsport's expansion and its mission to become a leading platform for esports and gaming content in India.
Stay tuned for more updates as these companies continue to grow and innovate!
