AbleCredit, Maxvolt Energy, Skippi, and Inspeq AI Raise Early-Stage Funding
Summary
AI credit underwriting company AbleCredit has announced the raising of USD 1.25 million (INR 10 crore) in its seed round led by Merak Ventures. Skippi is in discussions to secure an additional INR 7 crore in the coming weeks.The capital will be primarily allocated to brand building and marketing initiatives, with a focus on enhancing working capital, driving new product development, and hiring key leadership personnel for the next phase of growth.Ravi Kabra, CEO and Co-Founder of Skippi, said, "With this money, we will focus on building our brand, creating new products, and bringing in great talent to our leadership team. "Launched in 2021 by Ravi and Anuja Kabra, Skippis ice pops are available in over 20,000 outlets and major online platforms, including Zepto, Swiggy Insta, Cred, Amazon, Skippi.in, and Big Basket.The Hyderabad-based platform bagged investments from Shark Tank India Season 1 from all six sharksAman Gupta, Ashneer Grover, Anupam Mittal, Namita Thapar, Vineeta Singh, and Piyush Bansalwho collectively invested INR 1.2 crore for an 18% equity stake.Pradeep Dhobale, Vice Chairman and Lead Investor, Hyderabad Angels, said, "Skippi has demonstrated that there are vacant spaces available for startups in FMCG Foods, even though the category is dominated by large multinationals and domestic players. "Inspeq AI Bags INR 9.1 Cr in Pre-Series A Led by Sure Valley VenturesResponsible AI development platform provider Inspeq AI announced that it has raised USD 1.1 million (approx INR 9.13 crore) in a pre-Series-A round led by Sure Valley Ventures, with participation from Delta Partners.Other investors in the round include Plug and Play and several marquee angel investors, including Gaurav Singh Kushwaha (Founder and CEO of BlueStone), Prateek Dixit (Founder of Pocket FM), Rick Kelly (Former MD of Meta Ireland), Cyril Treacy (Former VP of Salesforce), and other tech executives.The platform plans to use this investment to expand its product development team and extend its marketing and sales operations in India, Ireland, and the UK. The platform also promises to cut down on development costs by up to 70%.Ramanujam Macharla Vijayakumar, Co-founder and CTO of Inspeq AI, stated, "We have built an enterprise-grade platform that integrates seamlessly with existing data tools, prioritising data security with cutting-edge research, and is helping companies reduce their manual verification tasks, achieving accurate output at scale."