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IAN Fund leads Rs 12.4 crore funding in Nocca Robotics

Technology Internet

Press Trust of India  |  New Delhi 

IAN Fund on Wednesday said it has led an investment worth Rs 12.4 crore in Pune-based Nocca Robotics.

The investment also saw participation from prominent angel investors from Indian Angel Network, a statement said.

Founded in April 2017 by Harshit Rathore and Nikhil Kurele, Nocca leverages technologies such as AI, machine learning, deep learning and robotics to provide automated, waterless and shareable solar panel cleaning solution for utility-scale solar parks.

Nocca Robotics will leverage the capital infusion to set up a robust manufacturing facility to create these robots with improved quality control. This establishment will cater to 1GW of solar power per year, the statement said.

The company will also use the funding to bolster its R&D and strengthen the production team, it added.

* * * * *

Marsplay raises funding from Venture Highway, others


Marsplay, a community-led commerce platform, on Wednesday said it has raised funding, led by Venture Highway.

The pre-series A round, whose size was not disclosed, also saw participation from Alvin Tse from Xiaomi, Jonathan Lau, Partner, Cadorna Ventures, a statement said.

Existing angels including the personal offices of Shailesh Rao, a partner with TPG Growth, and Nikhil Mohta, Director, ICICI Ventures also followed on in this round.

Marsplay's seed round was led by Amit Agrawal (former YouTube India Head), Vivekananda Hallekere (Bounce CEO) and Shamir Karkal ( founder) among others, it added.

Marsplay plans to use the funds to build its product engineering team and build a strong creator community, it said.

* * * * * Vivriti Capital aims to disburse Rs 2,500 crore worth of credit in FY20 *

Vivriti Capital, an online platform for institutional B2B lending, on Wednesday said it has disbursed loans worth Rs 1,000 crore since January 2019 and aims to achieve a cumulative disbursement worth Rs 2,500 crore by March 31, 2020.

The platform facilitated loans to entities in non-financial sectors as well with exposures in branded retail, healthcare, Food and Beverage etc and has also tied up with NBFCs to co-lend through its online co-origination platform, a statement said.

"We expect to reach cumulative disbursements of INR 2,500 crore by March 31, 2020," Vivriti Capital CBO Irfan Mohammed said.

The platform connects issuers and arrangers through a credit and transaction module and has facilitated over Rs 18,000 crore worth of transactions till date, it said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, September 11 2019. 21:20 IST