#FundingWire is your quick daily dose of notable investments made in the technology space. The firms covered in this segment include 1mg, Vahanalytics & Drivin
1mg Raises Additional Investment from HBM Healthcare
Bangalore: Digital Health platform, 1mg from healthcare focused fund, HBM Healthcare Investments. This comes straight after the Gurgaon-based startup closed a Rs 100 crore financing round in April. 1mg is HBM Healthcare Investments maiden digital healthcare bet in India.
HBM focuses on development stage, growth and buy-out financings of private companies as well as investments in public companies. This is HBM’s first direct investment in a digital health company in India.
“At this key stage of our growth, we are in good shape with a high quality team in place and our business backed by the best investors in the business across technology, healthcare and digital health. I believe we have the opportunity to transform healthcare in India and make it better for all consumers. With over 75 Million annual visits on our platform already, we have a very good shot at changing healthcare for consumers at scale in India,” said Prashant Tandon, Founder 1mg. Read More
Vahanalytics Secure $200k From Venture Catalysts
Mumbai: Mumbai-based tech driven startup, Vahanalytics has raised $200,000 in seed round of financing from Venture Catalysts. The investment was led by Vikram Lakhotia, managing director of Standard Transport Corporation, and Anirudh Damani, partner at Artha India Ventures.
The founders plan to deploy the raised funds for hiring talent and upgrading the servers for better analytics.
Founded by Shivalik Sen, Arun Gandhi, Nikhil Tavora and Someshwar Dash in 2016, Vahanalytics is run by Urbtranz Technologies Pvt. Ltd. and is currently in closed beta stage. It aims to address the global problem of on-road transportation efficiency, on a local scale and make drivers and roads better through smarter data and machine learning. Read More
Drivin Raises $7.5M From NTP & Lightbank
Chicago: Chicago-based startup Drivin has raised $7.5 million in a round led by Led by Columbus Nova Technology Partners and Lightbank. Drivin is a platform that helps auto dealers quickly find and buy used cars. The startup uses data to help connect dealers with wholesale priced vehicles, and uses 35,000 potential inventory sources to help them find the best automobiles. Drivin helps dealerships acquire hard to find vehicles, and helps local auto dealers cast a “nationwide net” in search for cars.
Founded by Groupon co-founders Brad Keywell and Eric Lefkofsky, Drivin is led by Kayne Grau, the former CTO at Cars.com. The startup raised $10 million last year from Lightbank and Columbus Nova Technology Partners. Read More