ETtech Deals Digest: Amazon Pay, Cron AI raise funds this week

Funding activity among Indian startups remained muted this week. Cron AI and Superops.ai were among the startups that raised financing this week.

Amazon Pay gets Rs 225 crore infusion
Amazon India's digital payments arm received a capital infusion of Rs 225 crore from its US parent through a Singapore unit. This comes two months after Amazon Pay had received a similar cash infusion from Amazon Corporate Holdings, Singapore along with a token investment from Mauritius-based Amazon.com Inc. This takes the total fund infusion in Amazon Pay to Rs 450 crore this year.


Cron AI raises $4 million
DeepTech firm Cron AI, which is building a 3D data edge perception platform senseEDGE, has raised $4 million in funding led by VenturEast and Kitaki Ventures. The round also saw participation from existing investor YourNest Venture Capital.

Cron AI plans to use the funds raised to accelerate the delivery of senseEDGE into new markets, starting with Europe. The startup has developed a platform that enables companies to develop intelligent solutions using 3D sensors to accurately perceive and learn the real world.

SuperOps.ai lands $3 million
SuperOps.ai, a professional services automation (PSA) and remote monitoring and management (RMM) platform, has raised $3 million financing led by Elevation Capital and Matrix Partners India. The seed round also saw participation from angel investors including Kayako founder Varun Shoor, Kovai co-founder Saravana Kumar, Posist co-founder Ashish Tulsian, and Livspace founder Ramakant Sharma.

The startup plans to use the funds raised to strengthen its research and development in terms of product innovation and usability, expand its team, and drive market adoption.

Other key deals
Fewcents has secured $1.6 million funding from M Venture Partners, Hustle Fund and others. The round also saw participation from angel investors such as former DBS Bank chairman Koh Boon Hwee, former Facebook executive Kenneth Bishop, Stripe executive Jeremy Butteriss and Boston Consulting Group partner and managing director Shiv Choudhury.

RuleZero, a technology platform that automates and manages equity ownership in venture-funded startups, has picked up Rs 10 crore in funding from Zerodha’s Rainmatter Capital, IndusLaw, Reddy Futures and Infosys cofounder Kris Gopalakrishnan. The startup manages ownership data, automates share issuance processes and provides mechanisms to track and certify cap tables of startups.

Realty firm Embassy Group has made an investment in the current fund of European venture capital firm Pi Labs that backs proptech startups. Pi Labs has more than 55 startups in its portfolio.

M&A
Mumbai-based information and communication technology firm Savex Technologies has agreed to buy a controlling stake in Bengaluru-based Inflow Technologies. The deal is expected to strengthen Savex' enterprise channel portfolio as the value-added services network of Inflow will help the Mumbai-based firm to further expand its businesses.