Here are the funding rounds across the Fintech, AI, Medtech and Retail Tech sectors on 4th January 2021:
Fintech: Cred secures US$81 million investment
Cred, an India based fintech platform that rewards customers for using their platform toupee credit card bills, announced securing US$ 81 million funding on 4th January 2021. The Series C investment was led by DST Global and was joined by previous investors Ribbit Capital, Tiger Global, Sequoia Capital, General Catalyst and the new investors Satyam Gajwani and Hedge Fund Coatue Management. This round brings the valuation of Cred at US$ 806 million. The platform has 5.9 million active users and it processes around 20% of the credit card payments done overall.
Retail tech: Google Backed NearSt secures £2m funding
NearSt, a UK based retail technology enterprise backed by Google that aims at encouraging the shoppers for returning to High Street closed a £2 million seed funding round on 4th January 2021. The seed round was led by a global property enterprise involved in revitalizing the physical retail in the United Kingdom. The startup has witnessed a three times increase in the demand for local product searches in 2020 and they are planning to use the investment for accelerating retailers uptake by hiring new employees and launching their offers globally.
Artificial Intelligence: AMP Robotics raises US$55M investment
AMP Robotics Corp, a Denver based Artificial Intelligence and robotics enterprise for the waste industry, announced securing US$ 55 million funding on 4th January 2021. The Series B funding round follows the US$ 16 billion Series A funding of a company led by the VC Sequoia Capital in November 2019. The recent funding round was led by XN and included participation from existing investors, Sidewalk Infrastructure Partners, Closed Loop Partners, Sequoia Capital and Congruent Ventures. The round was also joined by the new investors GV and Valor equity Partners. The company intends to use the proceeds of funding for scaling their business operations and expanding their business reach.
MedTech: Medtech firm Iceni Diagnostics secures £2m funding
Iceni Diagnostics, a Norwich, Norfolk based medtech enterprise announced £2 million investment on 4th January 2021. The round included participation from 35 Angel investors and local venture investors that contributed £1.3 million seed capital and the total investment added to £2 million. The company is behind the development of quick lateral flow tests for Covid-19 that can effectively suspect the infectious patients. They are planning to use the investment for building their commercial infrastructure and expanding their senior team with their focus on the pipeline of launching new products.
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