4 rising startups in India – Mar 3

Photo credit: englishme community.

Being a patient doesn’t have to be a drag – a concierge service for patients received funding today, along with a cashless payment system for small businesses, a social discovery app, and an edtech firm that can help your company pass with flying colors. Check out our four picks for rising startups today.

FTCash

FTCash, a mobile payment app for merchants in India who operate in low-value transactions, has raised US$150,000 in pre-series A funding from IvyCamp, an initiative of IvyCap Ventures. IvyCap Ventures, an Indian venture capital fund anchored by the Alumni Trust that leverages the IIT network around the world to create value in its portfolio companies, led the round.

Founded in late 2014 by Deepak Kothari, Sanjeev Chandak, and Vaibhav Lodha, the startup enables cashless transactions through multiple means including wallets and cards. The funding will be used for customer and merchant acquisition, as well as product development.

“Small merchants have traditionally been outside the financial ecosystem with over 80 percent using cash and hence limiting their ability to get loans from banks,” said CEO Sanjeev in a statement. “FTCash enables electronic payment acceptance using their existing bank account and a basic mobile phone.”

Imarticus

Mumbai-based Imarticus Learning, a financial services and analytics edtech firm, has secured US$1 million in a closed funding round from existing investor, IIMA alumnus, and entreprenur Amit Nanavati, as well as a number of angel investors. Blinc Advisors, a Mumbai-based venture capital firm, also participated in the round.

Founded by Nikhil Barshikar and Sonya Hooja in 2012, Imarticus offers online and classroom courses in various financial skills. It also offers training classes in management for other companies.

The startup is present in over 10 cities across India. It claims to have over 100 employees and to have educated over 10,000 students. The funding will be used to expand its e-learning business in India and throughout other Asian markets, including the UAE, Hong Kong, and Indonesia.

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