BiofuelCircle raises $0.75M USD in second round seed funding
Pune-based BiofuelCircle, digital platform for green fuels, creating a farm-to-fuel ecosystem, announced $0.75M in their second round of seed funding. The funding was co-led by Spectrum Impact, Better Capital, Dr Shridhar Shukla and others. Launched in July 2021, BiofuelCircle has raised US$ 1.75 million since inception. BiofuelCircle operates in Maharashtra, Gujarat and Tamil Nadu. The company aims to address the challenges around bioenergy supply chain and make a positive impact on not only the environment by reducing greenhouse emissions but also on the rural community by providing economic value, clean energy and increased job opportunities.
Suhas Baxi, co-founder and CEO, BiofuelCircle said, “We look forward to expanding our business with the fresh funds that we have raised. We aim to widen our digital toolkit and launch our operations in North India by the end of this year. Clean energy is of utmost importance to our country right now and we aim to contribute towards making bioenergy supply chain more reliable and predictable.”
BiofuelCircle’s digital platform currently serves 400+ active members, caters to 50+ biomass-based products. The company has set up a three-sided e-marketplace connecting buyers and sellers along with service providers for transportation, warehousing, and other supply chain services.
Lentra acquires AI startup TheDataTeam
Pune-based Lentra AI Private Limited, a digital lending cloud platform, announced the acquisition of Chennai and Singapore-based AI company TheDataTeam (TDT). Following the acquisition, Rangarajan Vasudevan, founder & CEO, TDT has joined Lentra as co-founder and chief data officer. Lentra is backed by HDFC Bank, Bessemer Venture Partners and SIG.
Lentra will deploy TDT’s flagship behaviour intelligence platform Cadenz to help banks and financial institutions make better data-driven decisions on customer creditworthiness based on their unique financial journey.
{{/usCountry}}Lentra will deploy TDT’s flagship behaviour intelligence platform Cadenz to help banks and financial institutions make better data-driven decisions on customer creditworthiness based on their unique financial journey.
{{/usCountry}}Vasudevan said, “Software is eating the world, and data is eating software. While the uses of AI are many, the ability to have a lasting impact is immense in the financial sector due to the vast untapped potential for credit. Given both companies had ambitions to scale fast in adjacent spaces and in the same geographies, it made perfect sense to merge our strengths in product and business-building.”
Sandeep Mathur, chief revenue officer, Lentra said, “We are seeing an explosive growth in the credit market. By integrating Cadenz platform into the Lentra lending cloud we will be able to provide an even bigger competitive edge to our clients in the entire credit lifecycle, from lead generation through origination to and the post-disbursal activities of loan management system, monitoring, collections and risk management.”
Sightsavers launches mobile vision centre in Pune
Supported by SBI Capital Markets Limited, Sightsavers India has established a mobile vision centre in Pune to improve the city’s primary eye care services. The programme is being implemented by HV Desai Eye Hospital.
Through better eye health seeking behaviour, the intervention aims to boost demand for eye health treatments among the people living in the urban slums of the city. “Building people’s capacities and making services accessible in the community are essential for resolving any underlying challenge. Sightsavers’ Urban Eye Health Programme seeks to reach out to the community where there is the most need. With greater collaboration, the programme is sure to have a lasting impact and tangible results to prevent avoidable blindness,” said Rati Forbes, honorary vice-chairman, Sightsavers India Board.
In Pune, the programme will reach out to the targeted population through the fully equipped mobile van eye clinic and provide comprehensive eye care services at their location. The model is cost-effective and accessible for the most vulnerable & marginalised group of people such as women, elderly and children in the urban slums.
Three Pune-based companies win Tally MSME Honours 2022
Pune: Tally Solutions announced the winners of the second edition of ‘MSME Honours’ for the West Zone. Three companies from Pune, including Vinpak Machine Private Limited, ABK Imports Private Limited and Bamboo India, triumphed amongst 2000 global nominations.
Pravin Garde of Vinpak Machine Private Limited and Kushal and Anand Pittie of ABK Imports Private Limited were honoured in the ‘Digital Transformer’ category. Yogesh and Ashwini Shinde, from Bamboo India, was honoured in the ‘NextGen Icon’ category.
Tally MSME Honours is an initiative launched by Tally Solutions to celebrate the diversity and unrelenting contribution of MSMEs through their best practices at the grassroot level right up to the national economic level. These honours are given out once a year on the occasion of International MSME day and are applicable to all types of businesses with a turnover less than 250 crores and a valid GSTIN.
In its second edition, Tally MSME Honours, in association with DBS (Development Bank of Singapore Limited) and regional trade associations recognized three MSMEs in Pune and 98 MSMEs across India. Celebrated across four zones (East, West, North and South) of the country, the honours were given across five categories: WonderWoman, Business Maestro, NextGen Icon, Digital Transformer and Champion of Cause.
Cybernetik acquires majority stake in US-based Buffalo Extraction Systems
Pune-based industrial automation firm Cybernetik has acquired an 87.5 per cent majority stake in Buffalo Extraction Systems for an undisclosed cash consideration. The acquisition will position Cybernetik as a pioneering provider of turnkey industrial automation solutions to the companies engaged in the extraction of medicinal plants, herbs, spices and essential oils. It will also expand Cybernetik’s presence to more markets around the world.
Mahesh Wagle, co-founder and director of Cybernetik, said, “Our acquisition of Buffalo Extraction Systems will open new networks for us in countries like Africa, India, Thailand, USA and South America. Given our experience in the extraction, industrial automation space, and manufacturing of high-end material handling and process automation solutions for over 30 years, the synergies between the companies are bound to create a lasting impact.”
Yogesh Jhamtani, CEO and co-founder of Buffalo Extraction systems, said, “The investment will help us build capabilities to become global leaders in the EPC space and extraction equipment in the agro-produce extraction industry.”