Investments, News

#Fundingwire: 10i Raises Upto $4.4M from Nandan Nilekani; Qdesq Raises Angel Funding & More


Shown Above: Nandan Nilekani, Co-Founder, Infosys

Fundingwire is your quick summary of notable investments made in the technology space. The firms which have recently raised investment include 10i, Qdesq and QwikCilver

Technology Startup for SMEs 10i Raises Upto $4.4M from Nandan Nilekani

Nandan Nilekani, cofounder, Infosys has backed 10i that seeks to help small traditional shops compete with online and organised retailers with the use of technology. 10i has reportedly raised around $3.6-4.4 million (Rs 25-30 crore) from Nilekani. Nandan Nilekani is the sole investor in the startup with a minority stake.

Its technology platform ShopX aims to empower traditional small retail stores. The company is now aiming to expand quickly across hundreds of towns and cities in the country. Read More

Qdesq Raises Angel Funding

Qdesq, workspace rental platform, has raised an undisclosed amount of funding from an investor consortium led by Anuraag Jaipuria, director of Jai Drinks, Ruchirans Jaipuria, director of Jaipuria Beverage and Food, and Rishi Kajaria, joint managing director of Kajaria Ceramics.

Qdesq is a ready to move in workspace brand. It is planning to use raised fund for expansion, marketing and enhancement of technology. Read More

QwikCilver Raises $10M Led By Sistema Asia Fund

Gifting card solutions provider QwikCilver has raised $10M, a new round of funding, the funding was led by Sistema Asia Fund, the proprietary fund of Russian conglomerate Sistema, with participation from existing investors including Amazon Asia-Pacific, Accel India and Helion Venture Partners.

QwikCilver will use the funding to double the value of gift cards it sells in the current fiscal year and also for its long term goal of expanding to international markets such as the Middle-East, Southeast Asia and Australia, where it is currently collaborating with brands and merchants. Read More 


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