India Markets closed

Business briefs

·3-min read

* Indus Towers appoints Vikas Poddar as CFO New Delhi, Jan 12 (PTI) Telecom infrastructure firm Indus Towers on Tuesday said it has appointed Vikas Poddar as its Chief Financial Officer.

'...on the recommendation of HR, Nomination and Remuneration Committee and approval of audit and risk management committee, Board of Directors of the company, in its meeting held today...has appointed Vikas Poddar as Chief Financial Officer and Key Managerial Personnel of the company with effect from January 12, 2021...,' Indus Towers said in a BSE filing.

A Chartered Accountant, Poddar comes with a two-decade experience in finance and operations management, the filing added.

**** * Karkhana.io raises $1.5 mn in funding from Vertex Ventures SEA & India, others Karkhana.io, a B2B on-demand manufacturing platform, on Tuesday, said it has raised USD 1.5 million (about Rs 11 crore) in funding led by Vertex Ventures Southeast Asia & India.

The seed round also saw participation from several industry leaders and angel investors, a statement said.

'Finding the right manufacturing vendor is a tedious and time-consuming process. The industry is still highly fragmented. There is no easy way to figure out which manufacturing process to go for, where to manufacture, and what is a fair price to pay, etc. We want to change this so that new products can go from prototyping to production seamlessly at a much quicker pace,' its founder and CEO Sonam Motwani said.

Karkhana.io's manufacturing capabilities encompass 3D printing, sheet metal work, CNC machining and injection moulding.

**** * Siply raises $1 mn in funding led by Inflection Point Ventures Tech-enabled micro-savings application Siply on Tuesday said it has raised USD 1 million (about Rs 7.3 crore) in funding led by Inflection Point Ventures.

The funds raised will be utilised for team expansion, scaling up technology platform and conducting initial pilots with the partners, a statement said.

Siply was founded in July 2020 by Sousthav Chakrabarty, Anil Bhat, and Nitin Mittal.

It is working on enabling micro-savings for users of other platforms through a platform-as-a-service model. The company has signed agreements with Bighaat, Gig4CE, Pickmywork, and Xoxoday, and is in talks with other large institutional partners as well.

**** * PurpleTutor raises seed funding from IvyCap Ventures, others Mumbai-based ed-tech startup PurpleTutor on Tuesday said it has raised a seed round of funding led by IvyCap Ventures.

Details of the funding were not disclosed.

The round saw participation from other investors, including Krishna Kumar (Founder and CEO of Simplilearn), a statement said.

Founded in 2019 by Gaurav Perti and Yatish Gupta, PurpleTutor offers live, online classes to kids aged 6-16 years on computational thinking. It has its own curriculum and is building technology to arm its teachers to ensure classes are highly personalised and customised.

Since its inception, the startup has over 30,000 registered users and is already at an annualised revenue of nearly USD 0.5 million and is growing 50 per cent monthly.

'We're focused on building technology to ensure that our teaching quality is superior and offer a great experience for students. Our recent fundraising will go towards expansion and building technology,' Gaurav Perti, founder and CEO of PurpleTutor, said. PTI MBI SR BAL BAL