Business briefs

Ripplr, a tech-enabled distribution and logistics ecosystem platform, on Tuesday said it has raised USD 3 million (about Rs 21.9 crore) in funding from Zephyr Peacock India Growth Fund, Chand Family Office – Yukti, and existing investor 3one4 Capital.

The series A funding comes on the heels of strong growth and execution by the company in the last few quarters amidst the pandemic, a statement said.

''The distribution network is mostly regional in nature, and the strength and consistency of operations is heavily dependent on each individual distributor. Consistency, penetration depth, and reliability became top priorities for brands in re-establishing their supply chain networks,'' Abhishek Nehru, co-founder of Ripplr, said.

****Venture Catalysts leads $2mn round in CreditEnable* Venture Catalysts, along with its UK arm - JPIN Venture Catalysts Ltd have led a USD 2 million (about Rs 14.6 crore) investment round in CreditEnable, an AI-driven SME credit marketplace.

The investment will be used to continue the development of CreditEnable's technology platform and expand the firm's user base, a statement said on Tuesday.

CreditEnable uses data analytics and AI to support SMEs in procuring different business loans and helps lenders disburse loans faster. It has more than 20 lender clients, including IDFC First Bank, ICICI, Bajaj and International Financial Institutions like Deutsche Bank and DBS.

****Mindler raises $1mn in funding led by Inflection Point Ventures*Mindler, a comprehensive career guidance platform for students and educators, on Tuesday, said it has raised USD 1 million (about Rs 7.3 crore) in funding, led by Inflection Point Ventures. The pre-series-A funding will be utilised towards expanding Mindler's base of institutional partnerships and alliances, a statement said. As part of its growth chart for 2021, Mindler now plans to strengthen its platform further with the objective of shaping the entire career guidance ecosystem, it added.

''Apart from IP Ventures, we are also in final stage talks with a few HNIs for this round. Despite all its challenges, 2020 has been a phenomenal year for us. It has been a landmark year for us especially in terms of collaborations and we are all geared towards increasing the same in the coming year,'' Prateek Bhargava, founder of Mindler, said.

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