IIT Delhi, Wharton Alumni Back IoT Startup Tyre Express
B2B marketplace for lifecycle management of commercial vehicle tyres Tyre Express has raised an undisclosed amount in Seed funding via IvyCamp. It works with its partners to offer a range of financial solutions for sourcing tyres and leverage technology to enable the lifecycle management of tyres. The startup is working on an IoT-based solution for vehicle diagnostics. It has also developed a platform to track and monitor performance of tyres in real-time for fleet operators. The platform enables a fleet operator to enhance tyre life, improve fuel efficiency, reduce incidence of accidents, and improve the overall operational efficiency for the fleet.
Umang Moondra (ex-MD, Citigroup Singapore) Invests in Connaizen
Singapore-headquartered and Delhi-based data analytics firm Connaizen has raised an undisclosed amount in pre-seed funding from Umang Moondra, former managing director of Citigroup, Singapore. Connaizen analyses transaction data available with banks. It draws insights from the customer’s card transaction history, geographical location, search history and purchases by peers. Based on this, the startup helps merchants target customers. Connaizen is currently working with 30 offline and online retailers across India. Its customers include Swiggy, Faasos and Thomas Cook, among others. Part of the funding will be used to build a sales team. The startup is soon going live with four private banks, so the money will be used to help expedite the integration.
Pune Based Ethosh Raises Funding From Cybage Co-Founder Deepak Nathani
Deepak Nathani, Cybage co-founder, has picked up a 25% stake in visual and interactive communications firm Ethosh. The investment amount remains undisclosed. Ethosh offers visual and interactive communication solutions to organisations. The startup provides video solutions including interactive product experience, virtual and augmented reality, and visual technical learning. Pune-based Ethosh will use the newly raised capital to expand its presence across the US, Europe, and India. According to a company statement, the startup has 50 plus employees in India as well as the US. It claims to have 45 global clients and 3,500 developed videos along with 100 plus interactive communication solutions.
CRON Systems Secures Funding from YourNest
IoT start-up CRON Systems, which services the defence sector, has raised pre-series A funding from venture capital firm YourNest. While CRON did not disclose the total amount of funding, its technology is used by the Border Security Force (BSF) and the Indian Army to secure the borders as well as perimeter of sensitive installations like army camps and airports. CRON Systems develops IoT and laser-guided intrusion detection systems that can distinguish and report both human and mechanical intrusions. The start-up recently partnered with an Israeli company to develop automated patrolling rovers and trucks that can help save costly human lives on the borders. The fund infusion will help it strengthen R&D, hire talent and explore new markets across West Asia, Africa and Europe.