🇮🇳 Roundup: Software firm buys Sri Lankan cloud tech startup, and more

Startups in India, including QNu Labs, Bambrew, LivFin, and Courseplay collectively raised at least US$4.75 million in disclosed funding today from international and local investors.

Here’s a snapshot of the fundraising:

Here’s some important tech news from India today:

Software firm Algonomy acquires Sri Lankan cloud tech startup

Algonomy helps retailers and brands work toward becoming digital-first businesses. It focuses on AI-powered systems that help grocery brands and retail companies with demand planning and forecasting.

The acquisition – whose value was undisclosed – will help Algonomy capitalize on Linear Squared’s AI and machine learning capabilities and the engineers behind them.

Algonomy has partnered with over 400 retailers, consumer brands, quick-service restaurant chains, and convenience stores across 20 countries.

Fintech startup Geojit launches digital loans platform

The company said its platform is the first to disburse online loans against shares.

Geojit said its loan product assures disbursals within minutes of digitally signing an agreement.

Any demat account holder registered with India’s National Securities Depository can use the platform.

Follow the rest of our India coverage here.