Business briefs

Dubai's Endefo to invest Rs 200 crore * Dubai-based Endefo, which manufactures and sells wearable products, is investing Rs 200 crore in the domestic market.

The company will also be launching six premium products such as sound bars, portable speakers, wireless stereos, smart watches, and party speakers, it said in a statement. The company is already present in the Southern markets and the investment will mostly go to market making in the rest of the country, primarily in the Northern states.

Established in 2003 in Dubai, the brand is present in 24 countries.

*** BASIC Home Loan raises USD 4.7 mn * Fintech startup BASIC Home Loan has raised USD 4.7 million (over Rs 38 crore) in equity through a funding round, led by stock market investor Ashish Kacholia along with existing investors Gruhas & Venture Catalysts.

New investors who joined the Pre-series B funding round are Dexter Angels, IIM Indore Alumni Angel Fund, and Comms Credible Venture Fund, the startup said, adding that the money will be used for expanding distribution network, and to build a proof of concept to start its own lending arm.

*** Lending startup Cloudbankin secures USD 4 lakh funding * Cloudbankin, an end-to-end digital lending software company based in Chennai, has raised USD 4,00,000 (about Rs 3.27 crore) funding from angel investors Upekkha, a SaaS accelerator and fund, and Kube VC.

Prominent fintech angel investors, including Ramanathan RV of Hyperface, and Mohan Karuppiah of IppoPay, among others also joined the funding.

The startup will use the money to extend its product portfolio, the company said.