Startup news and updates: Daily roundup (October 4, 2021)

Fintech start-up Progcap gets $30M Series C financial investment from Tiger Global, others (Funding)

Fintech start-up  Progcap  on Monday raised $30 million in Series C round from existing financiers Tiger Global Management and Creation Investments. Sequoia Capital India —– which had actually led the last 2 financing rounds for Progcap —– likewise took part in this funding.

The start-up will utilize the capital to construct a more comprehensive and much deeper supply chain banking platform for its merchants and business network in India. Progcap intends to reach $1 billion in disbursals by March 2022.

Proposed ecommerce policy to be stabilized with robust structure, states Goyal

Union minister Piyush Goyal has actually ensured that every stakeholder’s interest will be considered while framing the ecommerce policy, which would be robust and in the interest of every Indian.

Goyal, who heads commerce and market in addition to customer affairs ministries, stated that he invites all the feedback on the draft ecommerce guidelines, however remarks about inter-departmental concerns on the draft guidelines are completely baseless.

Blue-collar labor force management platform Smartstaff raises $4.3 M (Funding)

Blue-collar labor force management platform Smartstaff ( formerly Qikwork) has actually raised $4.3 M in financing from Blume Ventures, Nexus Venture Partners, and Arkam Ventures, in addition to Gemba Capital and some angels.

Founded in October 2020 by ex-colleagues at Runnr – — Arpit Dave, Viral Chhajer, Gnanesh Chilukuri, and Aravind Reddy, Smartstaff assists services work with and handle their blue-collar labor force by digitising labor force management practices. The start-up’s objective is to make it possible for 100 million blue-collar employees in India to get access to much better work by leveraging the power of innovation.

 D'Moksha Homes D2C environmentally friendly house style brand name D’’ Moksha Homes raises $575K in seed round

D’’— Moksha Homes– a D2C eco-friendly house style brand name —– on Monday stated it raised an angel seed round of $ 575,000 from Venture Catalysts, amongst numerous others. The direct-to-consumer brand name concentrates on supplying beautiful, handmade house linens utilizing just sustainable materials like hemp, lyocell, and linen, to name a few.

The round was led by Apoorva Sharma, Co-founder, Venture Catalysts, The Chennai Angels, and Karthik Bhat (Founder, Force Ventures).


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