Investments, News

Fundingwire: MoMagic Invests $1M in Edtech Startup EduAce, Online Transit Portal Via Secures $100M in Series C & More

Logistics & warehousing startup Zebroads Raises $75k

Hyderabad: Hyderabad-based online logistics and warehousing startup, Zebroads, has raised $75,000 in angel round of funding from undisclosed investors. The funds will further be deployed  to increase the warehousing space, enhance technology, and logistics partners.

The company was founded by Chandra Shekhar in August 2012 with an aim to disrupt the logistics and warehousing space segment. “As top companies get their warehousing and logistics done through Big CFA players in the market, it becomes difficult for SMEs to manage cost and effectiveness at the same time,” said Shekhar.

MoMagic Technologies Invests $1M in Edtech Startup EduAce

Lucknow: EduAce Services, Lucknow-based edtech startup has raised $1 million in a new bid, from Delhi-based mobile Internet company MoMagic Technologies. Founded by Gaurava Yadav and Kalpana Singh in 2012, EduAce Services, uses quizzes to teach students and has ‘School Quiz League.

“We have a unique format. General knowledge is a part of the curriculum till class 8th and after which it is left to the student to pursue, even though current affairs is a major segment in many competitive exams. This is what we want to change and bring in quizzing as an active form of learning,” said Gaurava Yadav

Online Transit Portal Via Secures $100M in Series C

New York: Online transit company, Via, has announced to have raised $100 million in Series C round of funding. Funding of $70 million has been closed, while the other $30 million will be “coming in weeks”. Via is not disclosing the investor of the latter. This round was led by Pitango Growth with participation from number of other VCs and family offices including Poalim Capital Markets and C4 Ventures. Existing investors Ervington Investments (the investment vehicle of Russian mogul Roman Abramovich), Hearst Ventures, and 83North also participated.

“Via is creating the public transit system of the future,” said Daniel Ramot and Oren Shoval, co-founders of Via, in a joint statement. “With existing transportation infrastructure straining and in some cases failing to meet rising demand across the globe, Via’s dynamic bus system offers cities a smart solution to traffic congestion and emissions. We’re delighted to have secured significant backing for our vision: eliminating single-occupancy vehicle trips by creating a mass transit system powered by advanced algorithms and data.”

SaaS Startup DigiExam Raises $3.5M From a Syndicate of Tech Entrepreneurs

Stockholm: Sweden based edtech startup DigiExam, a company that offers SaaS for academic testing and grading, has raised $3.5 million in Series A round of funding in a round led by a syndicate of tech entrepreneurs and investors from Europe and Asia, including Joen Bonnier, of the Bonnier family, owner of the largest media group in Sweden. The round also saw participation existing investors Gustav Söderström (CPO of Spotify), Sophia Bendz (former CMO of Spotify), and Sven Hagströmer (early investor and previous Chairman of Unicorn Klarna).

“The process of creating exams and most importantly grading exams is both time-consuming and tedious and takes time away from teaching and inspiring the kids and the students,” says DigiExam co-founder Johan Hägglund, explaining the problem the startup has set out to solve. “We believe that the teachers are the killer app in the learning journey”.

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