New Delhi, July 21 -- Mumbai-listed fintech company Zaggle Prepaid Ocean Services Ltd has agreed to invest Rs 7.96 crore ($830,000), in one or more tranches, in Unobanc Pvt Ltd, a technology driven cross-border payments and remittances company.
Unobanc, a wholly owned subsidiary of Hop Financial Solutions, operates under the MoneyHop brand and provides technology infrastructure for digital cross-border payments and remittances in India.
Post the acquisition, Zaggle will hold up to 19.9% equity stake in Unobanc.
Khageshvara Aviation Technology
Khageshvara Aviation Technology has raised undisclosed amount of capital from venture capital fund Finvolve and India Accelerator (IA), for its pre-seed funding round.
Rukam Capital, Atal Community Innovation Centre - Vivekananda Global University (ACIC-VGU) and Ministry of Information and Electronics Technology (MietY) also participated in the round.
The company is building next-generation electric vertical take-off and landing (eVTOL) cargo aircraft for defence, emergency response and remote logistics applications.
The capital will be deployed towards completing product development, accelerating field testing, building an interim deployable cargo platform and advancing certification milestones while strengthening engineering capabilities for commercial deployment.
FireAI
FireAI, a causal decision intelligence platform, has secured an investment of Rs 2.5 crore from SucSEED Indovation Fund.
The company said it will use the capital for go-to-market initiatives, including expanding the enterprise sales team and executing broader regional expansion plans. A part of the funds will go into research and development.
FireAI, based in Mumbai, says it helps enterprises move from descriptive dashboards to real-time, explainable answers. It counts IRCTC, Plum, Dana Choga, Living Liquidz, Government e-Marketplace and Noise among its prominent clients.
Published by HT Digital Content Services with permission from VC Circle.