Oct 26, 2016

Lucknow Based Ed Tech Startup EduAce Services Bags $1M From Momagic New Delhi-based an augmented reality-based ed-tech startup Smartivity, online home decor firm BedBathMore and Delhi-based ALBJ Technology Ventures Pvt Ltd, which is launching its mobile app Speeds next month, have secured funding. Ed Tech Startup Smartivity Raises $1M in Pre Series A Round Led by S Chand and AdvantEdge Partners Augmented reality-based ed-tech startup, Smartivity which was started by three-IIT Delhi alumni Ashwini Kumar, Apoorva Gupta, Rajat Jain along with Tushar A Amin, has raised $1 million in a pre-series A round of funding. The round was led by publishing firm S Chand and early-stage investment firm AdvantEdge Partners with participation from other investors include Singapore-based fund CFG Offshore Holdings and Silicon Valley-based fund Tandem Capital and a clutch of angel investors. With this round of funding, the company aims to expand its current portfolio in STE(A)M (science, technology, engineering, arts and mathematics) and augmented reality products to provide interactive learning to kids and also develop IoT-enabled toys and robot-led learning for kids. The funds will also be used to expand its reach and aim for the global market. In October last year, the firm had also raised $200,000 in a seed round of funding. Online Home Decor Startup BedBathMore Gets Funding from AB Kinnevik Group, Rocket Internet And FabFurnish’s Backers Home Craft Online owned online home decor firm BedBathMore has raised an undisclosed amount of funding from investors including Swedish bank AB Kinnevik Group, Germany’s Rocket Internet and some backers of FabFurnish, the online furniture brand recently acquired by Future Group. Last year, the company had announced its plans of investing Rs 128 crore to fund its expansion plans. With this funding, the startup is looking to create a lookbook for its customers who can source the products from the marketplace. “We are working on multiple features for customers who can find a look, buy the look and consult with interior designers on the platform,” said Amit Dalmia, CEO of BedBathMore. Mobile App Speeds Bags Funding From Rajasthan Angel Investor Network Delhi-based ALBJ Technology Ventures Pvt Ltd, which is launching its mobile app Speeds next month, has raised an angel round of funding from Rajasthan Angel Investor Network (RAIN). The deal was closed in March this year. The raised funding will be used by the firm to launch and market the product in India. Founded in 2014 by Nitin Saxena, Parthasarathy Ramanujam and Hemant Kumar, Speeds will use the funds to launch and market the product in India. The Speeds app is based on a technology which shrinks data and increases transmission speed and act as a gateway between the user’s mobile phone and the internet. It will help reduce mobile data costs and accumulate real time market insights. The company claims that users can save 70% on data with Speeds app. Share this article: Tags assigned to this article: