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Masai School buys Design Shift Academy; InfoEdge Fund leads $5 mn round in Truemeds

Masai School buys Design Shift Academy; InfoEdge Fund leads $5 mn round in Truemeds
Photo Credit: 123RF.com
9 Jun, 2021

Mumbai-headquartered e-pharmacy and telehealth platform Truemeds has raised $5 million led by returning investor InfoEdge Fund. Indian Angel Network and Asha Impact also participated in the round, said a statement issued by the company. 

Founded in 2019 by Akshat Nayyar and Kunal Wani, Truemeds will utilise the capital to expand its footprint to three additional cities, build product and technology and invest in building the supply chain of generic medicines, said the company in the statement. 

“Truemeds was founded with a mission to make medicine affordable for chronic patients. For us, it wasn’t just about providing best value alternate brands, it was about changing the paradigm of doctor-patient relationship. Covid 19 has shown the country how important it is to make medicines affordable and accessible,” said Akshat Nayyar, CEO of Truemeds. 

Truemeds claims to save nearly 47% on medical bills every month for chronic patients on its platform and also offers free online doctor consultations. 

Shyplite

Delhi-based logistics automation and fulfilment platform Shyplite has raised $1 million (Rs 7.3 crore according to current exchange rates) in revenue-based growth capital from N+1 Capital. 

The company will use the capital to set up nine fulfilment centres across the country and hire 140 people over the next year. A statement issued by the company said it will also tie up with last mile logistics providers such as Dunzo, Wefast and Shadowfax for same-day-delivery for businesses. 

Founded in June 2016 by Nisschal Jain, Sugam Jain and Parinay Itkan, Shyplite provides a single platform for integration with courier services, online marketplaces and cart integrations. The platform helps businesses ship across India and globally. The company said that it works over 90,000 sellers and processes 10 lakh shipments per month. The company also claims to be profitable since 2017 and will raise further equity capital for growth. 

“Being our largest investment till date, we at N+1 Capital are delighted to partner with the exemplary founding team of Shyplite and support their sustained growth trajectory,” said Ashish Singla, managing partner at N+1 Capital. 

BuyerAssist.io

San Francisco based business-to-business (B2B) sales platform BuyerAssist.io has announced raising $2 million in seed round led by Stellaris Venture Partners and Emergent Ventures. The company has also launched its beta product. 

BuyerAssist.io will utilise capital to hire teams across India and the US to scale the beta product, it said in a statement. 

Founded in 2020 by Amit Dugar, Shankar Ganapathy and Shyam HN, BuyerAssist.io provides a collaborative platform for the seller and buyer to co-develop desired outcomes. 

“B2B buying is undergoing a major transformation. New people are in driver seats and they bring a new set of expectations, especially now with the pandemic and remote working. Companies that sell to them must be extremely nimble and adaptive to these changing buyer preferences. The first step in that direction is to drive transparency with a shared system of truth with their buyers, and we help our customers accomplish that,” said Shyam HN, cofounder and CEO.  

Design Shift Academy

Bengaluru-based education startup Masai School has announced the acquisition of Design Shift Academy for an undisclosed amount. The acquisition will strength Masai School’s existing curriculum by adding comprehensive learning modules for UI & UX design and product management. 

Founded in 2019 by Prateek Shukla, Nrupul Dev and Yogesh Bhat, Masai School offers certification courses in Full Stack Web and Android Development. Backed by Omidyar Network, Masai School charges students on an income sharing agreement model where the fee is charged once a graduate is hired at a salary above a threshold amount.  

“The acquisition of Design Shift Academy is a first for Masai School, and is a significant milestone in our growth journey. Having made our mark as a coding centric platform, we now aim to sharpen our focus towards becoming a career-focused platform. We are happy to collaborate with Design Shift, who will bring to Masai School the expertise and knowledge of the UI/UX design space, and in turn help create holistic learning programs,” said Prateek Shukla, CEo of Masai School.  

Design Shift Academy will add to the coding-based learning platform. The company was founded in 2017 by Preeti Sheokhand and Sudhir Mor. 

IntelleWings

Panchkula, Haryana-based IntelleWings has raised $100,000 from SucSEED indovation and Vinners. IntelleWings was mentored by knowledge platform PadUp Ventures. Investors affiliated to PadUp also participated in the round, said a statement issued by the company. 

“IntelleWings is a perfect example of how technology can be leveraged to bring in disruption to solve real life problems. It is good to see that all the hard work put in for the last several months has started to bear fruit,” said Rajat Jain, founder of PadUp in the statement.  

Founded in 2019 by former Infosys architect Pramod Sharma, IntelleWings provides suite of AML compliance technologies. Its latest offering, IntelleWings EYE provides transaction monitoring, customer screening against global lists, integrated and comprehensive case management solution and integrated PEP (politically exposed persons check/ adverse media check).