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Federal Bank to fund Maruti dealers, customers

Mumbai, Dec 11 (PTI) Maruti Suzuki has partnered with private sector lender Federal Bank to provide dealer finance and auto retail finance to customers.

In August, Maruti had partnered with Federal Bank for dealer inventory funding. The latest tie-up will offer comprehensive loan access facilities to Maruti dealers as well as customers, the companies said on Tuesday.

On the partnership, Federal Bank managing director Shyam Srinivasan said this arrangement will help us offer end-to-end solutions for dealers and auto buyers.

******** AI start-up Observe.ai gets $26 m Artificial intelligence startup Observe.AI has raised USD 26 million from a clutch of investors which will be ploughed into product development and expansion of team.

The Bengaluru-based company saw participation from Nexus Venture Partners, Steadview Capital, 01 Advisors, and Emergent Ventures in the capital raising round, which takes total amount of funding raised by it to USD 34 million.

The company is engaged in speech analytics and provides voice customer service.

******** Tiger Global, others pump $26m into Kredx Invoice discounting platform Kredx has raised USD 26 million in the series B funding led by Tiger Global, along with participation from existing investor, for a minority stake in the company.

It had previously raised funds from Sequoia Capital and Prime Ventures Partners as part of their series A funding.

At present the company works with over 120 corporate houses such as Croma, Future Group and Vedanta, among others.

******** Advertising platform Media.net to hire over 130 Global advertising technology company Media.net is planning to hire over 130 freshers for their Mumbai and Bengaluru offices from top engineering colleges.

This pool will be hired from engineering graduates, postgraduates and management students from engineering stream.

It is also looking at hiring over 60 software engineers, site reliability engineers and software development interns from leading institutes.

******** Mygamemate raise $1,00,000 angel funding E-sports platform for mobile gaming Mygamemate has secured USD 100,000 in an angel round funding from Jindagi Live Angels, led by Deepak Maheshwari.

The funds raised will be used to strengthen the technology platform, develop more multiplayer games and to organise tournaments, it said.

******** Freightwalla nets $4 m in series-A funding Digital freight forwarding startup Freightwalla has raised USD 4 million in series-A funding led by global venture capital firms Amplo, FJ Labs and Rogue One Capital.

Founded in January 2017 by Sanjay Bhatia, Punit Java and Bharat Thanvi, the Mumbai-headquartered had raised seed capital from Kae Capital and Tekton Ventures last December.

Apart from the new investors, the existing investors Kae Capital and Tekton Ventures also participated in this round, the company said in a statement. PTI PSK AA SM HV BEN BEN