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moneyHOP, Codingal, Peppermint, SecLogic raise early-stage capital

moneyHOP, Codingal, Peppermint, SecLogic raise early-stage capital
Photo Credit: 123RF.com
1 Sep, 2021

British payments and remittance solutions provider moneyHOP, which operates an Indian subsidiary, on Wednesday said it has raised $1.25 million in a seed round of funding.

The funding was led by United Kingdom based investors and managing directors from various multi-national investment banks, as per a statement.

The fresh infusion will help moneyHOP strengthen its team at all levels, venture into cross-border MSME payment space and expand its international presence, the statement added.

Founded by Mayank Goyal in 2019, moneyHOP aims to provide seamless and cost-effective cross-border payments and remittance solutions for individuals and businesses in India to begin with and soon move into other geographies, globally.

Codingal

Online coding school Codingal on Wednesday said it has raised $1.2 million in a seed round of funding, led by Y Combinator, Summer Capital, Day One Syndicate and Rebright Partners.

Angel investors included Nate Lipscomb, senior product counsel, YouTube, Ganesh Rengaswamy, managing partner, Quona Capital, and Peter Weck, co-founder of Simply Hired and StoryJumper, as per a statement. 

Other investors in the latest funding round included Ashish Toshniwal, founder, Y Media Labs, Viral Bajaria, co-founder, 6Sense, Shashank Kumar, co-founder, Razorpay, Karthik Ramakrishnan, senior leader, Alexa, and Hiro Mizhushima, Japanese actor.

Codingal said it will use the fresh capital to further develop its proprietary platform for an improved and personalised learning experience.

It also aims to add 500,000 new students on its platform in a year’s time.

The Bengaluru-based startup added that it has grown 30% month-on-month since its launch in September 2020 and currently generates over 20% revenue from international customers.

Peppermint

Venture Catalysts and Indian Angel Network have led a funding of Rs 5 crore (about $684,864 as per current exchange rate) of an investment into industrial robot manufacturing startup Peppermint.

The funding round, at the company that makes and deploys commercial housekeeping and service robots, also saw participation from Vinners Group and a group of angel investors led by a certain Naveen Kumar Kshatriya, as per a statement.

Peppermint will use the raised capital to enhance the current production facility, ramp up production capacity, research and development and scale its business across India and the Middle East, the statement added.

“The organised Facility Management Services market in India and UAE has crossed $30 billion as of 2020 and is expected to record exponential growth in the coming years.

We believe the Peppermint team is well-equipped to bank on this growth opportunity and scale rapidly on the back of its state-of-the-art, avant-garde, made-in-India robots,” Apoorva Ranjan Sharma, president and co-founder, Venture Catalysts, said.

SecLogic

United States and India based Cloud Security Posture Management and Identity Governance (CSPM++) and Organisation Risk Orchestration startup SecLogic on Wednesday said it has recently secured a bridge round of funding dubbed pre-seed.

While Spanache.vc led the undisclosed investment, India Accelerator participated alongside, as per a statement.

Founded late 2020, SecLogic develops developing cloud security and organisation risk orchestration products to aid organisation in achieving a secure digital landscape. 

“It (funding) will help us seize the big market opportunity globally by architecting, deploying and securely managing the enterprise security environment.

Additionally, we plan to expand our product portfolio that provides the most accurate insight of risk exposure and mitigation in the industry,” founder Mayank Lau, said.

SecLogic added that it plans to use the funds in strengthening its existing product portfolio and targeting a consolidated revenue of $30 million and above by the end of 2024.