Early stage capital for global innovation
Focused on tech startups in the US and in India
NEWSLETTER - Q1, 2021
SRI CAPITAL PORTFOLIO EXITS
 
 

Zomato acquires sports startup Fitso

Food delivery and restaurant aggregation platform Zomato has reportedly acquired Jogo Technologies, which operates sports facilities provider Fitso. Zomato has bought 100% of the company in an equity and cash deal. The deal size is reported to be in the range of Rs 80-100 crore. The deal comes at a time when Zomato is preparing for an initial public offering (IPO) this year.

 
 
 
PORTFOLIO FUNDING UPDATES
 
 

SRI, Picus Capital lead funding in health-tech startup Meddo

Meddo, a health-technology startup that focusses on providing out-patient department (OPD) clinics with digital solutions, has extended its pre-Series A round with a $3 million (nearly Rs 22 crore at current exchange rates) capital infusion. This extension has been led by the Philadelphia and Hyderabad-based SRI Capital and Picus Capital, a global early-stage VC player set up by investors including Rocket Internet co-founder Alexander Samwer. This takes the total capital raised by Gurugram-based Meddo in this round to $6 million.

 
 
 
 

Lending app MyShubhLife gets $4M from Patamar Capital, existing investors

Mobile app-based lender MyShubhLife (earlier Shubh Loans) has raised $4 million (about Rs 29 crore) in a funding round led by Singapore-based Patamar Capital and some of its existing investors. Earlier in October 2019, its parent company Datasigns Technologies had raised $4.8 million in Series A2 funding round led by Omidyar Network India. Existing investors Saama Capital, Beenext, SRI Capital, and Pravega Ventures also participated as a part of this round. Myshubhlife offers loans, savings products like insurance, SIPs, e-gold, and e-filing taxes. It had received an NBFC license from RBI in 2019.

 
 
 

3Lines' invests in deep tech startup Edgetensor

3Lines Venture Capital announced that it is leading the investment in a bridge to Series A round for Dallas,TX, based Edgetensor Technologies, an early stage company pioneering a revolutionary 'AI at the Edge' technology and an end-to-end solution for a mass market deployment, which supports real-time and scalable video applications by processing data locally at the edge. Edgetensor's innovation makes AI affordable and scalable at the edge for automotive, fleets and insurance providers to offer one stop safety solutions, for smart cities to automate parking spaces, monitor access to public and private areas and for Digital Out of Home advertisers to monetize personalization. Top-tier global companies have already deployed Edgetensor's solutions for commercial use.

Atlanta robotics startup Softwear Automation closes $18.1M Series B round

US-based Softwear Automation has raised a funding of US$ 18.1 million in Series B round. The robotics and automation solution provider for apparel and textile sewn industry was founded in 2012 and it began raising funds in 2019. The company’s flagship solution is the ‘Sewbot’, which leverages a patented computer vision system that uses cameras and needles to track the placement of fabrics in order to sew with a reported greater level of accuracy. Since spinning out of Georgia Tech in 2007, the company has come on leaps and bounds, partnering with the likes of adidas and Li & Fung to streamline apparel manufacturing.

OTHER UPDATES
 
 

YuppTV & BSNL to launch single subscription YuppTV Scope platform

YuppTV has partnered with Bharat Sanchar Nigam Limited (BSNL), to launch a new-age, tech-enabled single subscription video streaming platform YuppTV Scope. Having previously signed an MOU with BSNL to offer bundled OTT services to broadband subscribers as a triple play offering, YuppTV is now launching compelling video services for BSNL broadband users. YuppTV scope offers users a single subscription to all premium OTT apps such as SonyLiv, ZEE5, Voot Select & YuppTV- aggregator of live tv channels, while eliminating the tedious task of accessing and managing multiple apps.

 
 
 
 

DreamVu Launches Omnidirectional 3D Vision Systems

DreamVu, a specialist in omnidirectional 3D vision systems, announced the availability of two new 3D vision intelligence systems for autonomous systems: PAL and PAL Mini. Both products use innovative patented optics and advanced imaging algorithms to create the world’s largest stereoscopic field of view. Both PAL and PAL Mini provide high-resolution vision, high-accuracy depth, and color 3D point-clouds, easily integrate into a variety of autonomous systems, and consume extremely low power.

 
 
 
 

Fakespot Launches “Fakespot Guard” to Protect Consumers from Shopify Scams

Fakespot, a free Chrome extension that detects fake product reviews and flags sketchy eCommerce sellers, announced the launch of Fakespot Guard for Shopify Stores, a new feature to protect consumers from scam websites that are powered by Shopify. In addition to improving transparency on sites like Amazon, Best Buy, eBay, Sephora, and Walmart, Fakespot now gives shoppers a Fakespot Guard grade to flag potential problems with sellers on Shopify, a popular eCommerce platform that is used by more than a million businesses that is now the #2 platform in the world.

 
 
 
 

Harris Health System selects Glassbeam Analytics to improve patient care

Glassbeam, Inc., the premier machine data analytics company, announced that Harris Health System, one of the largest integrated healthcare system in Houston, Texas, has selected Glassbeam Clinsights™ as its analytics solution to deliver high quality patient care in the difficult times of COVID-19 crisis. The organization will leverage Glassbeam service analytics for remote diagnostic capabilities, allowing its biomed staff to avoid unnecessary travel, and instead remotely manage, monitor, and troubleshoot issues proactively, vastly improving machine uptime and utilization across entire fleet of imaging modalities.

 
 
 
 

Spoonshot launches free version of its AI-based flavor pairing tool

Spoonshot, which uses artificial intelligence (AI) to uncover novel flavor combinations, has launched a free version of its tool that is accessible to anyone. Spoonshot CEO and Co-Founder, Kishan Vasani spoke about the new level of service at The Spoon’s Food Tech Live event.

 

Up to this point, Spoonshot’s platform has been a B2B play, meant for CPG companies and foodservice operators looking ahead to see what the next food and flavor trends might be. Launched at the start of the new year, Spoonshot’s new free tier of service now allows anyone to try its AI platform out.

 
 
 
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