TransBnk has raised $4 million in a Series A round, while LLUMO AI has raised $1 million in seed funding. In other developments, Venture Catalysts has anchored NxtQube’s seed round, while Khosla Ventures has led funding in Even Healthcare.
8i Ventures, Accion co-lead funding in TransBnk
TransBnk, a Mumbai-based transaction banking platform, on Wednesday announced that it has raised $4 million in Series A funding co-led by early-stage venture capital fund 8i Ventures and global impact investor Accion Venture Lab.
The round also saw contributions from GMO Venture Partners, Ratio Ventures, Force Ventures along with a prominent group of family offices, institutions, and angel investors, the startup said in a statement.
The company plans to utilise these funds to expand its network of banking partners while also pursuing global expansion plans with a focus on the Middle-East and Southeast Asia markets. TransBnk also intends to bolster its tech infrastructure and developments to enhance its product stack, the statement added.
Since its maiden seed round last year, TransBnk claims to have witnessed 10X revenue growth.
SenseAI Ventures invests in LLUMO AI
LLUMO AI, an AI optimisation company tackling the high costs and performance challenges of generative AI, has announced raising $1 million (Rs 8 crore) in its seed funding round led by SenseAI Ventures.
The financing also saw participation from India Quotient, AumVC, Venture Catalyst, IIM Indore Alumni Angel Fund, and US-based angel investors.
The seed funding will support LLUMO AI’s expansion into the US market as well as the development of an enterprise-grade platform that integrates with existing AI workflows, it said in a statement.
“We founded LLUMO AI with a clear mission: to democratise access to Generative AI and help businesses unlock their true potential. With this funding, we are one step closer to realising our vision of making generative AI accessible, affordable, and impactful for businesses worldwide,” said Shivam Gupta, founder of LLUMO AI.
NxtQube raises funds from Venture Catalysts, others
Venture Catalysts on Wednesday announced that it has led a seed funding round in drone infrastructure company NxtQube.
The round also saw participation from Pontaq VC (STPI NxtVentures), Ananta Bizcon LLP, Rushikesh Bhandari, and other angel investors.
Founded in April 2022, NxtQube is developing complementary automation solutions for drone manufacturers, service providers, and end users. The company’s flagship product, a universal drone docking station, is a robotic enclosure capable of performing pilot activities, including drone landing and take-off, flight monitoring, drone charging, and data extraction.
“With the support of Venture Catalysts and our other investors, we are poised to accelerate our product development and market expansion. Our goal is to empower the scale of drone deployments and operations, ultimately becoming the thought leader in the drone infrastructure space,” said Nikhil Rajput, co-founder & CEO of NxtQube.
Khosla Ventures leads funding in Even Healthcare
Healthcare company Even Healthcare has raised about $20 million (Rs 169 crore) in a new funding round led by Khosla Ventures.
The company’s board has passed a resolution to issue 2,17,589 preference shares at an issue price of Rs 7,762 each to raise the aforementioned amount, Entrackr reported, citing the company’s latest filings with the Registrar of Companies.
Khosla Ventures infused Rs 83.4 crore in the company, while Pathfinder and Mercury Fund invested Rs 21.3 crore and 26.9 crore, respectively. Simon Fiduciaria, DLB Ventures, Lex Italia, 8 VC, Rainmatter fintech, and others also participated.
