Business, Investments

#Fundingwire: Hyperlocal Logistics Firm Grab Raises Debt Funding from Aramex Ventures and More


Fundingwire is your quick summary of notable investments made in the technology space. The firms which have recently raised investment include Grab, Fulfil.IO And NeoGrowth 

Grab Raises Debt Funds from UAE’s Aramex Ventures

Mumbai-based Grub Services Pvt. Ltd that runs hyperlocal logistics service Grab has raised debt from United Arab Emirates-based logistics firm Aramex Ventures Llc.

Grab was founded in 2012 by Jignesh Patel, Nishant Vora and Pratish Sanghvi. The company did not disclose the size of the deal.The Company will use the fund to enhance their technology and roll out newer service verticals over the next year. Read More

Rajan Anandan Invests in Fulfil.IO

Angel investor Rajan Anandan, who also heads Google‘s Southeast Asia and India businesses, has invested an undisclosed amount in 500 Startups-backed Fulfil.IO. Founded by Prakash Pandey, Rituparna Panda, Tarun Bhardwaj and Sharoon Thomas, Fulfil.IO was among the 15 startups chosen in investment  firm 500 Startups’ accelerator programme.

US-based Fulfil.IO offers modern cloud based software for retailers to manage inventory and automate fulfillment operations. The funds will be used for ramping up sales operations in the US and scaling the product further. Read More

NeoGrowth Secures $16M from IIFL Wealth Management’s Seed Venture Fund

NeoGrowth Credit, a specialised lender to small and medium sized retailers, has raised $16M in a new round of funding from IIFL Wealth Management’s Seed Venture Fund besides existing investors, which include Omidyar Network, Khosla Impact and Aspada.

NeoGrowth, founded by Dhruv Khaitan and Piyush Khaitan, has also roped in product and engineering talent from Flipkart and Ola as it looks to strenghten its technology. NeoGrowth has disbursed over Rs 600 crore in loans till now, and plans to double its loan book every year for the next 4-5 years. Read More

Image Credit: Grab

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