GrayQuest, a fintech company focused on providing payment solutions for the education sector, has raised Rs 80 crore ($9.3 million) in its latest Series B equity funding round. Separately, BluSmart Mobility, an EV ride-hailing service and EV charging superhub infrastructure operator is raising Rs 425 crore (about $50 million) in its Series B round, Entrackr reported.
GrayQuest raises $9.3m in Series B
GrayQuest, a fintech company focused on providing payment solutions for the education sector, has raised Rs 80 crore ($9.3 million) in its latest Series B equity funding round.
The equity funding was provided by IIFL Fintech Fund, Claypond Capital (Family Office of Dr Ranjan Pai), and existing investor Pravega Ventures.
The company will utilise the funding proceeds to further enhance its technology platform and significantly scale its distribution to educational institutions across the country.
The funding comes a year after GrayQuest raised about $7 million (Rs 56 crore) in its Series A funding round led by Pravega Ventures.
BluSmart to raise $50m in new round
BluSmart Mobility, an electric ride-hailing service and EV charging superhub infrastructure operator, is raising Rs 425 crore (about $50 million) in its Series B round, Entrackr reported.
According to the report, existing investors and new participants will likely contribute to this funding round.
The funding came just six months after the closure of its $24-million pre-Series B round. According to Fintrackr’s estimates, the company will be valued at around Rs 3,050 crore (approximately $363 million) post-allotment.
