[Funding roundup] Automovill, Up, Spintly raise early-stage deals
Summary
Furthermore, it will strategically channel and smoothen operations and broaden its marketing scope, including carrying out ongoing research to fix the challenges of car servicing by introducing a hassle-free, open, and affordable solution via a technological platform and assisting in the accumulation of orders and creating direct and indirect jobs within the ecosystem.Founded in 2015, Automovill is present in 20 Indian cities, catering to retail customers and pan-India clients from used car sellers, ride-hailing, and auto insurance companies through its network of over 200 workshops.Consumer hardware startup Up (previously React Labs) raised $500,000 as part of its pre-seed funding round from Nithin Kamath-led Rainmatter. Founded by Mahek Mody and Mohit Sharma, the Bengaluru-based startup closed its pre-seed round at a total of $1.3 million.Up received investment from co-founders of Ather Energy, Unacademy, the Stanford Angels, and Entrepreneurs India. The round saw participation from Lets Venture, Accel Nest, SucSEED Indovation, RiSo Capital, Defang Technology, 91 Ventures, Kyto Technology and Life, and a few other notable angel investors and groups, including Dheeraj Pandey, Co-founder and CEO of DevRev, and former Founder and CEO of Nutanix.Spintly will use these funds to focus on its growth in the global market, including the US, and strengthen its R&D capabilities. Its products are adopted by co-working spaces, managed commercial office spaces, and small to medium-sized enterprises.The startup says its revenue has grown by 500% in 2022 compared to 2021 and has more than 100,000 users on the platform.Fintech startup Bold Finance raised $1.5 million in a seed round led by Kae Capital, with participation from existing investor Antler India and several angel investors, including Nitin Gupta (Uni Cards), Ishpreet Gandhi (Stride Ventures), Shashikant Dola (McKinsey & Company), Tushar Mehndiratta (Avail Finance), and Vadiraj Kulkarni (CEO, ITC PSPD), among others.Founded by IIT Roorkee alumni Nikhil Jain and Durgesh Suthar, the Mumbai-based startup aims to enable financial freedom for Bharat by improving credit availability for users from the lower and middle-income segments of Tier II and III cities.Bold Finance, which offers gold loans, is building a tech platform and operations layer that empowers jewellers to work with multiple banks to dispense loans in a regulated manner and grow their businesses sustainably. The company is making its entry into the Hyderabad market through its asset-light business model with the objective of building a network of high-quality hospitals through transparent pricing, insurance provision, and standard treatment protocols.InPrime Finserv raises $1.45M in seed round from InfoEdge Ventures, othersBengaluru-based tech-enabled financial services startup InPrime Finserv has raised $1.45 million in a seed round from InfoEdge Ventures, Titan Capital, Kettleborough VC, and other investors.InPrime will focus on the emerging financial needs of the prime layer of customers within the informal segment.