Tag: Entrackr : Latest Posts

NowPurchase, an AI-enabled B2B platform for metal manufacturers, has raised approximately $9.6 million in funding led by Bajaj Finserv, along with support from Info Edge Ventures and Orios Venture Partners. This funding marks a significant milestone for the company, with previous investments totaling $18 million, including a $6 million funding round in September 2024 from Info Edge Ventures. The newly acquired capital will be used to expand the company’s scrap recycling infrastructure, grow its branded product range, and enhance its AI platform, MetalCloud.

Founded in 2017 by Naman Shah and Aakash Shah, NowPurchase offers a digital platform for metal manufacturers to source raw materials like scrap, alloys, and additives. Additionally, the company operates a network of scrap processing centers and provides branded products. MetalCloud, their AI platform, plays a crucial role in enabling manufacturers to digitize and optimize production processes through the application of IoT and computer vision technologies.

NowPurchase competes directly with other India-focused metal procurement platforms such as JSW One MSME, OfBusiness, and Metalbook, but stands out for its focus on streamlining the raw material sourcing process for manufacturers through digital solutions.

Source: Entrackr : Latest Posts

Debt collections infrastructure company CredResolve has recently secured funding in a pre-Series A round led by Merak Ventures, along with participation from existing investors Unleash Capital Partners and CDM Capital. The exact amount of this funding has not been disclosed. This move comes after the company had previously raised $1.1 million in a seed round last year and $100K in an angel round in 2024.

The funds from this latest round are earmarked for expanding operations to 15 states, enhancing its multilingual AI and voice capabilities, and developing a self-serve platform for lenders, as per a company press release.

Established in 2023 by Balaji Koustubha and Vijay Kumar, CredResolve specializes in AI-driven debt collections infrastructure, catering to various financial institutions in India such as banks, NBFCs, fintech firms, and microfinance institutions. The company’s platform integrates AI voice bots, digital channels, a field agent network, and legal automation to optimize outcome-based collections.

CredResolve manages its infrastructure rather than relying solely on software or outsourcing, providing lenders with real-time insights into performance and recovery outcomes across different channels. Currently overseeing assets worth over $6 billion in 12 states, the company’s association with the NVIDIA Inception Program underlines its tech-focused approach.

Source: Entrackr : Latest Posts

OpenFX, a fintech startup focused on cross-border payments, has secured $94 million in funding led by Accel, Lightspeed Faction, M13, Northzone, and Pantera. This investment values the company at approximately $500 million and follows a previous $23 million seed round.

Founded in 2024 by Prabhakar Reddy, OpenFX provides infrastructure for instant cross-border foreign exchange and payments. Their stablecoin-based network offers a faster and more cost-effective solution compared to traditional banking systems, reducing settlement times to under an hour, primarily serving B2B treasury and remittance use cases.

By utilizing blockchain-based currencies, OpenFX facilitates quicker and more efficient transactions, especially beneficial for businesses managing large capital volumes. The company’s API-based solutions for FX, treasury management, and instant payouts are in high demand among fintechs, neobanks, and enterprises.

OpenFX claims to significantly reduce costs by up to 90% compared to traditional banking systems, providing faster settlement speeds than the typical 2–5 day cycle. The company’s goal is to streamline global money movement, addressing inefficiencies in cross-border and high-volatility financial transactions.

Operating in the U.S., the U.K., the UAE, and India, OpenFX processes over $45 billion in annualized payment volume, a substantial increase from $4 billion a year ago, driven by strong demand from various financial service providers.

Source: Entrackr : Latest Posts

Bachatt, a tech startup founded in 2025, has secured $12 million in a Series A funding round led by Accel, with Lightspeed and Info Edge Ventures also participating. The company, known for its AI-powered savings and wealth platform, had previously raised $4 million in seed funding. The new capital infusion will be used to expand user acquisition and introduce new AI-driven wealth and credit products.

Bachatt targets the merchant and self-employed sector, providing tailored savings solutions for non-salaried individuals. One of its key features allows users to invest in debt mutual funds with ticket sizes as low as Rs 100, in collaboration with major asset management firms like SBI, ICICI, and Axis. The platform offers various benefits including flexible deposits, pause options, and instant withdrawals.

Since its inception, Bachatt has amassed over 3 million users and processed more than 2 million mutual fund transactions in February 2026 alone. Looking ahead, the company aims to significantly expand its user base to 30 million within the next 12–24 months.

India’s wealthtech sector has been witnessing substantial growth, with startups collectively raising over $634 million in 2024 and 2025. The current year has seen notable funding activities, such as AssetPlus securing $19.3 million, Wint Wealth raising $28 million, Otto Money receiving $1.3 million, and Jiraaf preparing for a new funding round.

Source: Entrackr : Latest Posts

Microdrama and social entertainment platform Eloelo has strategically utilized heavy spending on advertising and promotions as a key driver for revenue growth in the fiscal year 2025. The company, founded in July 2020 by Saurabh Pandey, has shown promising signs of scale, reporting Rs 69.5 crore in revenue for FY25, with losses remaining relatively stable.

Riding on this momentum, Eloelo secured $13.5 million in a Series B funding round led by Play Ventures in April last year, highlighting investor confidence in its growth trajectory.

Eloelo’s revenue stream primarily relies on in-app purchases, contributing to the entire operating revenue in FY25. The company also diversified its income sources, earning Rs 6.3 crore in non-operating income, largely from interest on fixed deposits, totaling Rs 75.8 crore during the period.

While the company’s expenses surged, particularly in advertising and promotions to bolster user acquisition and retention, it also prioritized investing in content creators, technology, and other operational aspects. Notably, technology costs accounted for about 10% of overall expenses, reflecting the company’s focus on innovation.

Despite the substantial spending on various operational aspects, Eloelo managed to maintain a steady workforce cost while significantly enhancing spending on content creators to fuel growth.

As Eloelo continues to navigate the competitive landscape of short-form content platforms, its strategic financial decisions and revenue generation model will be closely monitored by industry observers to assess its sustainability and competitive positioning in the market.

Source: Entrackr : Latest Posts

Deccan AI, a startup specializing in post-training data and evaluation services, has successfully raised $25 million in a Series A funding round. The investment was led by A91 Partners and saw participation from Susquehanna International Group (SIG) and Prosus Ventures.

The funding will be used to expand Deccan AI’s enterprise-focused AI offerings and enhance its platform capabilities for the deployment and assessment of AI systems.

Founded by Rukesh Reddy, Deccan AI initially focused on data and model training for cutting-edge AI labs before transitioning into providing enterprise solutions. The company now offers a range of tools to assist businesses in deploying, monitoring, and improving AI systems in real-world scenarios.

Deccan AI’s product suite includes an evaluation platform for tracking model performance and an enterprise system designed to automate back- and middle-office workflows using AI agents. The startup is targeting large enterprises, including Fortune 500 companies, with customers like Google DeepMind and Snowflake already onboard.

Deccan AI is expanding its operations in India, with a new office in Bengaluru dedicated to enterprise growth, in addition to its existing bases in San Francisco and Hyderabad.

Source: Entrackr : Latest Posts

Future Wealth Investments, an investment firm, has introduced its inaugural venture fund targeting $50 million with a green shoe option of $10 million, potentially reaching $60 million in total size.

The fund aims to support startups from the pre-seed to Series A stages, providing initial funding ranging from $250,000 to $5 million. It plans to nurture around 20 companies, focusing on sectors like artificial intelligence, consumer businesses, supply chain, logistics, and hardware innovation.

Backed by an advisory board of founders from India, the UAE, and a network across Silicon Valley and Asia, Future Wealth Investments has already invested in companies such as Heads Up For Tails, Tantrayut, B4U Media, Mobipay, Zippee, and Vivos.

India’s venture capital and private equity market have witnessed a significant increase, with over $12.1 billion in new funds launched, with a strong focus of 58% on early-stage investments. The firm is actively seeking promising founders in India, the UAE, and Singapore.

Source: Entrackr : Latest Posts

Fanon, a platform dedicated to fandom storytelling and discussion, has secured $1 million in a pre-seed funding round. The investment was led by Kalaari Capital and Gruhas, indicating confidence in Fanon’s potential within the tech industry.

Established in 2024 by Jatin Nayak, Nesar Rao, and Arvindmani Satyanarayan, Fanon allows users to create and share alternative narratives from popular movies, TV series, anime, games, and books. The platform offers a blend of fanfiction, comics, videos, and interactive discussions, providing a comprehensive space for fans to explore their favorite content universes.

Fanon caters to over 150,000 users globally, predominantly Gen Z with a notable female user base, and is most popular in the US, Canada, the UK, and Europe. The platform covers a wide array of fandoms, including Harry Potter, Marvel, and My Hero Academia, fostering a diverse and engaged community.

One key aspect driving Fanon’s growth is its partnership with Arka Media Works, known for the Baahubali franchise. This collaboration enables fans to craft and monetize new storylines featuring beloved Baahubali characters, enhancing the platform’s appeal and creative opportunities.

With the rise of fan-centric content generating billions of views annually on social platforms, Fanon’s growth aligns with the increasing demand for immersive and interactive fan experiences. The company’s commitment to enhancing discovery and storytelling tools underscores its dedication to serving the evolving needs of fandom-driven content creation.

Source: Entrackr : Latest Posts