Finarkein Analytics, DeepMatrix, and 99 Pancakes Raise Early-Stage Funding The startups listed below have disclosed investment rounds.
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Finarkein Analytics Secures USD 4.75 Mn in Pre-Series A Round Led by Nexus Venture Partners
Finarkein Analytics, a Pune-based SaaS startup in the Digital Public Infrastructure (DPI) space, has secured USD 4.75 million in a Pre-Series A funding round. Nexus Venture Partners led the round, with participation from existing investors like IIFL's Fintech Fund and Eximius Ventures, as well as angels such as Uni's Nitin Gupta and Ashika Group's Chirag Jain.
Founded in 2019, Finarkein is a leader in the BFSI sector, offering B2B SaaS and data products that power data journeys for India's largest enterprises.
The newly raised funds will be used for onboarding, financial and medical underwriting, monitoring, collections, and generating insights in real time.
Finarkein's data and workflow orchestration platform allows enterprises to co-create data products on India's emerging digital public infrastructure (DPI), like the account aggregator (AA) ecosystem, ONDC-Financial Services, OCEN, and more. Over the last 18 months, Finarkein's platform claims to have emerged as the leading enabler for over 50 enterprises to publish and consume data on DPIs.
Nikhil Kurhe, Co-founder and CEO of Finarkein, said, "India's approach to digital infrastructure has been unique, wherein a lot of value is directly passed onto end consumers. DPIs like the account aggregator are only accelerating this, and at Finarkein, we're glad to be a part of this movement from day zero and scale it further. Finarkein's trusted data products will play a significant role in unleashing the potential of DPIs in India and beyond."
YourNest and Arali Ventures Lead USD 1.6 Mn Funding Round for DeepMatrix
Bengaluru-based deeptech startup DeepMatrix has secured USD 1.6 million in a pre-Series A funding round, led by YourNest and Arali Ventures, with contributions from lead angels and Abhishek Goyal, Founder of Traxcn.
This funding will be pivotal for accelerating DeepMatrix's growth, enhancing its product offerings in mining and asset management, and expanding its footprint in the US and Australia.
Naresh Soni, CEO of DeepMatrix, said, "The pre-series round of DeepMatrix marks a significant landmark in Indian geospatial DeepTech and will lay the foundation for utilising the full potential of geospatial data using advanced AI and compute capabilities."
"There is an increased demand in the industry, and this funding will help in developing breakthrough, innovative solutions to solve customer problems. We have experienced good traction in the Indian market and are looking to work with enterprises and governments in developed markets like US, Australia, Europe, etc," Soni added.
Founded in 2022, DeepMatrix specialises in managing the entire data lifecycle, from ingestion to advanced analytics. Its platform supports various industries, including mining, agriculture, and energy, by addressing challenges in data annotation, labeling, analysis, and reporting. The company's innovative platform simplifies data handling, providing enterprises with efficient tools for managing and interpreting vast geospatial datasets.
Since its inception in 2022, the company claims to have mapped extensive acres of land and completed hours of data collection, providing critical insights for urban land, forests, quarries, mines, and key infrastructure assets such as transmission towers, highways, and more.
99 Pancakes Raises INR 200 Mn in Series A Funding for Nationwide Expansion
99 Pancakes, a Mumbai-based quick-service restaurant chain known for its diverse pancake offerings, has secured INR 200 million in a Series A funding round. The investment, provided by a prominent family office, will drive the company's aggressive expansion plans across India.
By the end of 2024, 99 Pancakes aims to open 50 new outlets, and by December 2025, a total of 200 new locations. The goal is to establish a presence in 50 cities nationwide through a mix of company-owned and master franchisee-operated outlets.
Founded in 2017 by Vikesh Shah, 99 Pancakes has already opened 4 new outlets this month and plans to add another 8 in September, focusing on Gujarat with new sites in Ahmedabad, Vadodara, Anand, Surat, and Vapi.
Vikesh Shah, Founder, 99 Pancakes, said, "This funding will enable us to enhance our operations and accelerate our expansion plans, bringing the unique pancake experience to more cities and more customers across India and becoming a household name."
