The round also saw participation from existing investor Chiratae Ventures, Navam Capital, and Ashok Atluri, Founder of Zen Technologies, bringing Frinks AI's total funding to USD 6.25 million.
The fund will focus on 16-18 startups, with initial investments ranging between USD 2.5 million and USD 3 million, while also reserving capital for additional funding rounds in its high-growth portfolio companies.
This week saw significant funding activity across diverse sectors, from oncology drug manufacturing to electric vehicle leasing. Here's a roundup of key deals that grabbed attention.
The fresh funds will be deployed for building a team in the US, strengthening its tech leadership, and investing in advanced supply chain visibility solutions.
The Bengaluru-based firm has made over 45 investments in a variety of industries, including fintech, SaaS, edtech, health care, and logistics. MyGate, Niyo, Sunstone Eduversity, Wheelseye, Quizizz, and Poshn are among some of its portfolio companies.