Listed below are some of the major news of the startup sector, take a look to stay updated:
Digital insurance broking startup McXtra secures $1.3 Mn in pre-Series A round
Digital insurance broking startup McXtra has raised $1.3 million in its pre-Series A round from a clutch of 12 investors. The fresh funds will be allocated towards scaling up the company’s tech platform and reach out to more users.
Founded by A S Narayanan and Nimish Airon, McXtra is an insurtech platform that enables users and their families to consolidate all their insurance policies in a secure vault. It offers insurance services and assistance across health, motor, life, travel and home insurances.
SRI Capital launches $100 million tech fund for American and Indian markets
Early stage venture capital fund SRI Capital has launched a $100 million technology-focused fund for the American and Indian markets, the company said in a statement on Thursday.
Hyderabad-based SRI Capital is managed by veteran investor Sashi Reddi and operating partner Doc Pargh, who is based out of Philadelphia. The fund has secured a $20 million from the family office of Reddi and will raise capital primarily from investors in the US and Europe.
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GOGOVAN raises $250 million from InnoVision Capital, others
Logistics startup GOGOVAN has raised $250 million in a fresh round of funding. The funding round was led by InnoVision Capital. Alibaba’s logistics arm Cainiao, Russia-China Investment Fund, Hongrun Capital, Qianhai Fund of Funds, and 58 Daojia Group also participated in the funding round.
Since its establishment, GOGOVAN has received funding from investors globally, including Centurion Private Equity, Renren Inc., MFund, New Horizon Capital, Alibaba Entrepreneurs Fund, Singapore Press Holdings, and Hotung Investment Holdings.
Today’s Take Away:
Imitating and copying from someone is not at all the best way to success.
Amit Ranjan, Digilocker says,
“Startups are like fingerprints. No two startups are alike.”
