Indian Tech Startups Rope-In Big Funding, KonProz Raises $700K to Work With GenAI
ThinKuvate Launches Rs. 100 Crore Fund for Indian Tech Startups
Singapore-based investment firm ThinKuvate has unveiled its Rs. 100 crore ThinKuvate India Fund – I, targeting Indian tech startups. With an initial investment of up to Rs. 3 crore per startup, the fund aims to support 12 to 15 startups annually. This initiative follows the firm’s successful investments in Indian startups since 2016. In the first phase, ThinKuvate will introduce the fund in cities including Nagpur, Raipur, Bengaluru, and Chennai. Founding Partner Ritesh Toshniwal highlighted the robust performance of their Indian portfolio and the country’s favourable economic conditions as key motivators. The fund has received SEBI approval and expects its first close within the current quarter.
ZoopSign is Transforming Document Management for Indian Businesses
As the document management system market in India expands, ZoopSign is leading the way with innovative solutions for businesses. This Indian startup offers a comprehensive digital environment for creating and managing documents, integrating features like electronic signatures, contract management, detailed insights, and smart storage. ZoopSign addresses the inefficiencies of manual document handling, such as wasted time and security risks, by digitizing and automating workflows. Key features include Aadhaar eSign for secure signatures, review flows for collaborative approval processes, document analytics for valuable insights, and eStamping for legal compliance. ZoopSign’s robust platform enhances productivity and security, making it an essential tool for Indian businesses navigating the digital landscape.
KonProz Raises $700,000 to Enhance Legal Domain with Generative AI
KonProz, a generative artificial intelligence startup, has secured $700,000 in funding led by Dr. Ruchi Parekh, RDB Group, and angel investors. The funds will be used to develop Generative AI intellectual property for the legal domain, expand the team, and scale operations. Founded by Piyush Chopra and Shiladitya Dash, KonProz leverages GenAI to create SaaS solutions for legal, tax, and regulatory sectors. Their flagship product, KonProz GPT, is the first GenAI tool specifically trained on India’s tax, legal, and regulatory laws. Launched in November 2023, it has attracted over 2,000 active users, including professionals from the Big4s and Tier 1 law firms. KonProz aims to expand its product suite further.
Startup Founders Praise PM Modi’s Ecosystem Boosting Initiatives
India’s startup ecosystem is flourishing, thanks to initiatives like ‘Startup India’ launched by Prime Minister Narendra Modi, according to startup founders. In a recent interview with NDTV, PM Modi highlighted the creation of over 1.25 lakh startups and more than 100 unicorns, generating numerous jobs for the youth. Founders credit policies such as tax breaks and business simplification reforms for fostering innovation and business growth. V G Anil, CEO of Pune-based ARENQ, cited increased foreign direct investment and successful operation of startups in sectors like EVs and solar batteries. Karan Desai, Founder of Interface Ventures, and Ankit Aggarwal, CEO of Unstop, echoed this sentiment, noting the significant support from government initiatives like the Atal Incubation Mission.
Gurugram-based Startup 3SC Raises $4 Million to Boost Global Operations
Gurugram-based SS Supply Chain Solutions (3SC) has secured an additional $4 million from existing investor GEF Capital’s South Asia Growth Fund. The funding will fuel the enhancement of AI/technology capabilities and global scaling efforts while ensuring profitability in the Indian Supply Chain Execution and Logistics Business Unit. Raj Pai, managing partner at GEF Capital, expressed confidence in 3SC’s leadership and innovative solutions, affirming the investment’s strategic alignment with their growth trajectory. Founded in 2012 by Lalit and Sarita Das, 3SC caters to diverse industries such as pharmaceuticals, healthcare, FMCG, and e-commerce. Co-founder Sarita Das highlighted their commitment to expanding SaaS offerings and dominating the market with tech-enabled supply chain solutions.
