Bits’n’bytes: Learn about startups and business news in Pune

BiofuelCircle raises $0.75 million in second round of seed funding

Pune-based BiofuelCircle, a digital platform for green fuels, which creates a farm-to-fuel ecosystem, announced $0.75 million in its second round of seed funding. 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 its inception. BiofuelCircle operates in Maharashtra, Gujarat and Tamil Nadu. The company aims to address the challenges around the bioenergy supply chain and have a positive impact not only on the environment by reducing greenhouse gas emissions, but also on the rural community by providing economic value. , clean energy and greater job opportunities.

Suhas Baxi, Co-Founder and CEO of BiofuelCircle, said: “We look forward to expanding our business with the new funds we have raised. Our goal is to expand our digital toolkit and launch our operations in North India by the end of this year. Clean energy is of paramount importance to our country right now and our goal is to help make the bioenergy supply chain more reliable and predictable.”

The BiofuelCircle digital platform currently serves more than 400 active members, serving more than 50 biomass-based products. The company has established a three-sided e-marketplace that connects buyers and sellers together with providers of transportation, warehousing, and other supply chain services.

Lentra acquires artificial intelligence startup TheDataTeam

Lentra AI Private Limited, a Pune-based digital lending cloud platform, announced the acquisition of TheDataTeam (TDT), an artificial intelligence company based in Chennai and Singapore. Following the acquisition, Rangarajan Vasudevan, founder and CEO of TDT, joined Lentra as co-founder and chief data officer. Lentra is backed by HDFC Bank, Bessemer Venture Partners and SIG.

Lentra will implement Cadenz, TDT’s flagship behavioral intelligence platform, to help banks and financial institutions make better data-driven decisions about customer creditworthiness based on their unique financial journey.

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 credit potential. Given that both companies had ambitions to scale rapidly in adjacent spaces and in the same geographies, it made a lot of sense to merge our strengths in building products and businesses.”

Sandeep Mathur, chief revenue officer at Lentra, said: “We are seeing explosive growth in the credit market. By integrating the Cadenz platform into Lentra’s lending cloud, we will be able to provide an even greater competitive advantage to our clients throughout the credit lifecycle, from lead generation to origination and post-disbursement activities of the lending system. loan management, monitoring, collections and risk management.”

Sightsavers launches a mobile vision center in Pune

With the support of SBI Capital Markets Limited, Sightsavers India has established a mobile vision center in Pune to improve the city’s primary eye care services. The program is being implemented by HV Desai Eye Hospital.

Through improved eye health seeking behavior, the intervention aims to increase the demand for eye health treatments among people living in the urban slums of the city. “Building the capacity of people and making services accessible in the community are essential to solving any underlying challenges. Sightsavers’ Urban Eye Health program seeks to reach the community where the need is greatest. With further collaboration, the program is sure to have lasting impact and tangible results in preventing avoidable blindness,” said Rati Forbes, Honorary Vice President of the Board of Sightsavers India.

In Pune, the program will reach the target population through the fully equipped mobile eye clinic and provide comprehensive eye care services at their location. The model is cost-effective and accessible to the most vulnerable and marginalized group of people, such as women, the elderly and children in urban slums.

Three Pune-Based Companies Win Tally MSME Honors 2022

Pune: Tally Solutions announced the winners of the second edition of the ‘MSME Honors’ for the West Zone. Three Pune companies, including Vinpak Machine Private Limited, ABK Imports Private Limited and Bamboo India, triumphed among the 2,000 global nominations.

Pravin Garde from Vinpak Machine Private Limited and Kushal and Anand Pittie from ABK Imports Private Limited were honored in the ‘Digital Transformer’ category. Yogesh and Ashwini Shinde, from Bamboo India, were honored in the ‘Next Generation Icon’ category.

Tally MSME Honors is an initiative launched by Tally Solutions to celebrate the diversity and ongoing contribution of MSMEs through their best practices from the grassroots level to the national economic level. These honors are given once a year on the occasion of International MSME Day and are applicable to all types of businesses with a turnover of less than Rs 250 crore and a valid GSTIN.

In its second edition, the Tally MSME Honours, in association with DBS (Development Bank of Singapore Limited) and regional business associations, recognized three MSMEs in Pune and 98 MSMEs in India. Held in four areas (East, West, North and South) of the country, the honors were bestowed in five categories: WonderWoman, Business Maestro, NextGen Icon, Digital Transformer and Champion of Cause.

Cybernetik acquires a majority stake in US-based Buffalo Extraction Systems.

Pune-based industrial automation firm Cybernetik has acquired a majority 87.5 percent stake in Buffalo Extraction Systems for undisclosed cash consideration. The acquisition will position Cybernetik as a pioneering provider of turnkey industrial automation solutions for 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 up new networks for us in countries such as Africa, India, Thailand, the US and South America. Given our experience in the extraction space, industrial automation, and manufacturing of high-end material handling and process automation solutions for over 30 years, the synergies between the companies are bound to create lasting impact.”

Yogesh Jhamtani, CEO and co-founder of Buffalo Extraction Systems, said, “The investment will help us build capabilities to become a world leader in the EPC and extraction equipment space in the produce extraction industry.”

Leave a Comment