IoT startup Chariot raises Rs 2 crore from GEMS Partners And Other Startup News That You Need To Know

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Listed below are some of the major news of the startup sector, take a look to stay updated:

IoT startup Chariot raises Rs 2 crore from GEMS Partners

IoT startup Chariot has raised Rs 2 crore from GEMs partners in a Pre-Series-A funding round. The Delhi-based startup will use the funds raised for product development and market expansion.

Besides, the capital infusion will also help the startup to increase its horizon at the global level, upgrading in-house technology platform, infrastructure and products, and also in pushing internal growth.

Founded by Nilay Mehrotra, Raj Garg, and Siddhant Srivastava, Chariot is a digital enterprise connecting sensing devices to provide deep analytical capabilities in detecting patterns inside data streams.


Logistics service startup Mojro raises $650K from 1Crowd and others

Bengaluru-based urban logistics service provider startup Mojro raised $650,000 (Rs 4.23 crore) in a pre-Series A round led by equity crowdfunding platform 1Crowd. The company said it will utilise the fund for ramping up technology development, team expansion for marketing and building partnerships with fleet owners.

The technology platform of Bengaluru-based Mojro helps fleet owners with organising capacity, route planning, fleet supply, and operations.


Venture Catalysts invests $1 M in Ideal Insurance

Venture Catalysts has recently announced that it has invested $1 million in Kolkata based insurance management company Ideal Insurance Brokers Pvt. Ltd in its seed round of funding.

Founded by Rahul Agarwal, a Chartered Financial Analyst, the firm is an insurance-based risk solution provider offering insurance products in the domains of health, life, fire, marine, infrastructure, credit, etc.

The funds will be put to use for building a strong infrastructural support for our operations and backend team as well as for marketing purposes.


Healthcare financing platform LetsMD has raised $1 million (Rs 6.5 crore)

Delhi-NCR based LetsMD has raised $1 Mn in Pre Series A round of funding led by SRI Capital with participation from existing investors Waterbridge Ventures and Thinkuvate. The firm offers a platform for discovering healthcare financing options.

The funds raised would be used in expanding the firm across India.

Founded in 2015 by Nivesh Khandelwal, LetsMD allows users to discover and compare the costs and offerings of various medical procedures offered by health care networks and hospitals. It also provides facilities for healthcare loans for 10-24 months.


Today’s Take Away:

Good leadership qualities in an entrepreneur are essential. No one needs to say that. But who is a good leader? Someone who forces others to emulate her and follow her footsteps or someone who makes people understand the reason behind her decision and let them follow on their own? Obviously, the latter.

A leader also needs to accept her shortcomings and give others a fair chance at leading the team. As American activist Ralph Nader says,

“The function of leadership is to produce more leaders, not more followers.”