Funding ProFinTech Technologies has completed its Seed Capital round, securing $1.4 million in primary capital. The funding round was led by prominent high-net-worth individuals (HNIs) and family offices from India and the USA, including the family office of K.
I. Varaprasad Reddy, Rahul Gedupudi, Sreeman Chalasani and. Srinivas Kalagara.
Ravi Tanniru, Founder and CEO, ProFinTech This new capital infusion will be used to enhance ProFinTech’s platform, which provides micro and small enterprises across India with easy access to financing. “This funding will accelerate our growth and allow us to introduce highly innovative solutions to the market. Our data-driven approach will empower MSMEs to drive business growth and generate more employment opportunities,” said Ravi Tanniru, CEO and Founder of ProFinTech.
Incubator and accelerator Venture Catalysts led an additional Rs 15 crore in a pre-series funding round in Sunfox Technologies, the health tech startup. The funding round also saw participation from Finvolve through the IA Growth Opportunities Fund I and Brew Opportunities Fund, Universal Group and RP Singhvi Group. This funding builds on a previous Rs 5 crore investment from USAID through SAMRIDH Health and LetsVenture, bringing the total raised in this round to Rs 20 crore.
With this new capital, Sunfox is focusing on scaling its flagship innovation, Spandan, a smartphone-based portable ECG device that provides clinically accurate 12-lead ECG readings. "This capital i.