LambdaTest has secured $38 million in a fresh funding round led by Avataar Ventures, while Avanti Finance has raised $14.2 million in its Series B funding round.
Avataar leads $38m funding in LambdaTest
Noida- and San Francisco-based LambdaTest, a cloud-based unified testing platform, has secured $38 million in a fresh funding round led by Avataar Ventures, with participation from Qualcomm Ventures, it announced on Tuesday.
The latest infusion has brought the company’s total funding to $108 million.
With this funding, LambdaTest plans to advance KaneAI, an AI-driven quality assurance (QA) automation agent-as-a-service; and advanced HyperExecute automation, which enables companies to test their digital assets with speed, precision, and scalability.
LambdaTest claims to have 2.3 million+ developers and testers on its platform worldwide and has executed more than 1.2 billion tests till date. The startup posted a year-on-year growth of 105%.
Founded in 2017, LambdaTest has raised nearly $70 million from top investors in previous funding rounds, including Premji Invest, Sequoia Capital India, Titanium Ventures, Leo Capital Holdings, and Blume Ventures.
Avanti Finance raises $14.2m funding
Bengaluru-based NBFC Avanti Finance has raised $14.2 million (Rs 120 crore) in its Series B funding round from Dia Vikas Capital, existing investors IDH Farmfit Fund, NRJN Family Trust, Rabo Partnerships, and select HNIs.
The company’s early investors include The Bill & Melinda Gates Foundation, Oiko Credit, and Nomura.
Avanti Finance will use the funding proceeds to increase its loan book, strengthen its deeptech platform for ongoing innovation of frictionless credit to customers, and augment its channels in both rural and urban segments.
Founded by Rahul Gupta, Avanti Finance offers small-ticket loans primarily for income generation and working capital to micro-enterprises. Avanti claims to have served 9 lakh low-income households with an AUM of Rs 1,640 crore.
The company had previously raised $24 million in a Series B funding round in April last year. With the current funding, the company’s total funding to date stands at around $80 million.
