Ahmedabad-based Prescinto Technologies, which operates an eponymous solar monitoring and analytics platform, has raised $3.5 million in seed funding round, as per statements from participating angel investment providers.
While investors of Venture Catalysts led the round, other participating angel investment providers were Inflection Point Ventures, Mumbai Angels, and LetsVenture.
Prescinto’s platform is currently at a data acquisition and visualization stage. It also plans to offer services of advanced analytics, and operation and maintenance automation, and a pipeline of intellectual properties within the solar energy business space.
The statement added that Prescinto has so far serviced a clientele that includes Radiance Renewables, SoftBank Energy, Macquarie (Stride Climate Investments), Essel Infrastructure, and GMR to achieve traction of 3X annual growth reaching about 9 gigawatt solar plants across 14 countries.
Now, it plans to expand to international markets.
As per IPV’s statement, Prescinto’s industrial internet of things (IIoT) and artificial intelligence enabled software increases solar power plant generation by 5% and solar power plant generation about 7%, at cost of 0.1% of revenue, resulting in 20X-50X return on investment.
Chirrup raises $300,000 in round led by Titan Capital
Titan Capital on Thursday said it has led a funding round, dubbed a pre-seed round, of $300,000 in video-integrated social gaming platform provider Chirrup.
Other investors in the round were iSeed, First Cheque, and 3.0 Fund. The infusion will help the Bengaluru-based startup strengthen its product, the statement said.
Founded in 2020 by IIT Delhi batchmates Vipul Garg, Sourav Lashkari and Mehul Mittal, the startup enables friends and families to engage over multiplayer games and video calls. Chirrup wants to digitally recreate the experience of offline banter with the people, the statement said.
All of Chirrup’s games have an in-built video call feature. Chirrup currently offers nine multiplayer games, ranging from Ludo, Chess, Rummy to Draw-It, War Vessels, and Crazy 8. It plans to add 10 games over the next six months.
Families not living together and long-distance couples, who are early adopters of the product, spend close to six hours a week on average on the app, the statement added.
NSE arm invests in Capital Quant Solutions
NSE Data & Analytics, a wholly-owned subsidiary of the National Stock Exchange of India (NSE), on Thursday said it has invested an undisclosed amount of funding in software startup Capital Quants Solutions (CQS).
CQS is a technology startup focused on providing software products using machine learning (ML) and natural language proficiency (NLP) that help extract and analyse structured information and building ML models to extract data from complex unstructured financial documents.
The investment is part of NSE’s programme to back firms in fields such as analytics, digital, robotics, security, artificial intelligence, ML and blockchain.
The partnerships help NSE Group strengthen its technology, managing director and CEO Vikram Limaye said in a statement.
“Our relationship with the exchange started with NSE being a customer for our flagship product, FinStinct. Over time this relationship has grown not just in terms of the size of the engagement but has also grown at a strategic level. Today we offer cognitive automation to various functions and divisions within the exchange and we also have the exchange as an investor in us,” CQS founder Pravin Lal said.
Get My Parking buys Mobilytics
Get My Parking, which provides an interoperable smart parking platform that connects all parking and mobility stakeholders, on Thursday said it has bought Mobilytics for an undisclosed sum.
Delhi based Mobilytics runs a software for battery swapping at electric vehicle stations, and provides charging infrastructure for e-rickshaws. Its solutions include a battery swap network, battery management, and real-time data about driver location, battery level of charge, and health.
The acquisition, according to Get My Parking, helps expand value added services to its portfolio as electric charging and battery swapping is an additional service for parking lots.
Earlier this month, Get My Parking said it won a partnership with luxury car maker Mercedes-Benz’s research and development arm in India to assist drivers in search and navigation of available parking lots.
Founded in 2015 by Chirag Jain and Rasik Pansare, Get My Parking previously bought Bengaluru-based parking subscription firm Constapark in 2018. The IAN-backed startup has so far raised $4.47 million, as per VCCEdge data.