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Funding RoundUp: Uolo Gets Seed Funding; Drishti Bags Funding from Nandan Nilekani and Annapurna Raises Rs 35 Cr from Oikocredit & More

Bhuvaneshwar based micro finance company Annapurna has raised Rs 35 crore equity infusion from Netherlands based equity financing compamy Oikocredit.

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Student Education Tracking App Uolo Gets Seed Funding from Purvi Ventures

Student education tracking app Uolo, owned and operated by Uolo Technology Pvt. Ltd, has raised $210,000 (around Rs 1.4 crore) in seed funding from Purvi Ventures, Sunstone Business School director Rajul Garg and Vipin Arora, compensation director-Asia Pacific of Honeywell India.

Other investors who participated in this round include Exponentially I Mobility LLP and Artieca Family Trust. Six individuals also participated in the funding round. The deal was closed in February this year, as per VCCircle report.

The funds will be used to upgrade the tech infrastructure, and on-board more schools.

Drishti Bags Funding from Billionaire Nandan Nilekani

Nandan Nilekani, Infosys co founder has invested an undisclosed amount in Drishti, an eye care chain focused on providing affordable treatment in underserved markets, based out of Bangalore.

Drishti will expand its reach to six more districts in Karnataka in the next phase of expansion, after infusion of fresh funds by Nilekani, as per ETTech report. The latest funding in Drishti will mark the ninth venture that has been backed by Nilekani, who has actively invested in early-stage startups in the recent months.

Micro Finance Company Annapurna Raises Rs 35 Cr from Oikocredit

Bhuvaneshwar based micro finance company Annapurna has raised Rs 35 crore equity infusion from Netherlands based equity financing compamy Oikocredit, as ET reported.

Annapurna operates across 10 states in India and provides financial support to low income groups to help improve their standard of living. Its client base comprises more than 0.7 million borrowers with assets under management of approximately Rs 950 crore as on March 2016.

Gurgaon Based Rise India Buys Majority Stake in Padhopadhao.com

Gurgaon-based Rise India, an education and skill development firm, has acquired a majority stake in tutor aggregator Padhopadhao.com as it aims to establish its presence in the online tuition market.

Rise India has acquired 60% stake in Padhopadhao.com, as per VCCircle report.

Financial details of the deal are still undisclosed.

The acquisition will help the portal expand operations to cities such as Mumbai, Jaipur, Chennai, Chandigarh, Bangalore and Hyderabad.

Schedulers Logistics Raises Series B Round from Gujrat Venture Fund GVFL

Gujarat-based venture fund, GVFL Ltd has invested Rs 40 crore in Mumbai based integrated cold chain operator Schedulers Logistics India Pvt Ltd. Schedulers operates a fleet of reefer vehicles and temperature controlled warehouses across India. The transaction marks the second round of growth financing for GVFL's first exposure in the logistics sector.

"The funding will help Schedulers to get on an exponential growth curve by getting aggressive in capacity additions and furthering pan India presence including Gujarat by augmenting reefer fleet as well as cold storage capacity" said Arvind Gangoly, Co-founder & CEO, Schedulers.



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