New Delhi, Jan 11 (PTI) Fintech firm IppoPay on Tuesday said it has raised USD 2.1 million (about Rs 15.5 crore) from Coinbase Ventures, Better Capital, Blume Founders Fund, and a number of high-profile angel investors.
This new funding round will be used to further strengthen IppoPay’s technology stack, including its payments engine, as well as power the company’s growth into new regions and market segments such as small-to-medium-sized businesses, a statement said.
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The company is also launching BNPL (buy now pay later) feature that will equip offline retailers to offer their customers easy access to credit at the point of sale.
“Our goal is to help offline merchants increase their sales and profits 10x while reducing friction in the customer experience. We want to put to an end the tedious and time-intensive tasks of handling finances. IppoPay will work towards servicing and transforming businesses in every region and segment of the Indian economy,” IppoPay CEO Mohan K said.
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**** *TradeX raises $1mn in seed funding
Gurugram-based TradeX on Tuesday said it has raised USD 1 million (about Rs 7.3 crore) from TDV Partners, SoMa Capital and others.
Marquee investors like Maninder Gulati, Anupam Mittal, Rajesh Shawney, Hitesh Chawla, Cem Garih, Justin Mateen, Fethi and few others also participated in the seed funding round, a statement said.
The company – founded in 2021 by Divij Goyal and Ankit Shrivastava – has launched various events across different categories like entertainment, finance, news, sports, etc. and will be focusing on going deeper in these categories, the statement said.
**** *Glamplus raises USD 700,000
Software as a service (SaaS)-enabled marketplace startup Glamplus on Tuesday said it has raised USD 700,000 (about Rs 5.1 crore) in funding from Blume Ventures, Livspace COO Ramakant Sharma and others.
The pre-series A funding round also saw participation from existing investors, IPV, a statement said.
The funds raised will be utilised in vertical tech SaaS capabilities along with expansion of B2B marketplace to scale to 10,000 partners and monthly revenues of Rs 5 crore by March 22, it added.
Glamplus is a SaaS-enabled curated B2B marketplace that enables large, medium and small salons/spas to adopt technology and grow their businesses digitally.
“… New funds will be utilised in enhancing tech capabilities, going deep in the marketplace segment and driving growth along with efficiency. Our solution will create a complete digital ecosystem for salons and spas and help transform their lives,” Glamplus co-founder and CEO Divyanshu Singh said.
Glamplus has scaled to 4,000 paying partners in less than eight months across six cities- Bengaluru, Delhi, Kolkata, Ahmedabad, Nagpur and Pune, and has grown to over 40 team members in less than six months.
*MoS for Power inaugurates webinar on Power Plant Flexibilisation, Industry 4.0
Minister of State for Power and Heavy Industries Krishan Pal Gurjar on Tuesday inaugurated a webinar on ‘Power Plant Flexibilisation – A Key to Grid Stability’ and ‘Industry 4.0 – Success with Smart Solutions’.
It was held at BHEL’s Electronics Division in Bengaluru.
Power plant flexibilisation and implementation of Industry 4.0 are important for enhancing power generation with accent on reducing carbon emissions.
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