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Acculi Labs secures funding for an undisclosed amount and Startup Basket; OkCredit raises another $67 million from Tiger Global & Lightspeed.

Bengaluru-based healthcare startup Acculi Labs secure pre-seed funding

Rupam Das, Founder of Acculi Labs

Early-stage diagnostic company Acculi Labs has secured pre-seeding financing for an undisclosed amount from a group of angel investors and Startup Basket, a Bengaluru-based consultancy & services firm. Acculi Labs plans to use its funds for the completion of all the necessary steps required to secure the IP and certification before mass commercialization of its product, Lyfas.

Acculi Labs has also received funding under the Idea2 Poc scheme, under the startup Karnataka policy and was selected as one of the topmost startups of ELEVATE 2018 that aims to provide a comprehensive entrepreneurship platform for startups. The company has successfully carried out an initial pilot validation in BLK super specialty hospital, Delhi on over 500 patients for some cardiac parameters.

“We have been not only improving and validating our product over the last two years but have also done several market exploration and field testing. We have screened more than 10,000 patients so far. We feel happy that our early investors have backed our vision and uncompromising focus on product excellence. We still have a long way to go,” said Hari Prasath, Co-founder and Chief Business Officer of Acculi Labs.

Fintech startup OkCredit raises another $67M from Tiger Global, Lightspeed

OkCredit Founders
OkCredit Founders

Bengaluru-based Fintech startup, OkCredit has raised $67 million as a part of Series B funding from Lightspeed and Tiger Global. It comes just three months after raising $15.5 million as apart of Series A round. This takes the total fundraise by OkCredit to $83 million.

Founded in 2017, the company is an app-based solution that provides merchants with reliable & straightforward ways of keeping the credit, and payable records for their trade carried out on credit basis by recording them digitally.

The company stated that in India, most purchases at neighborhood grocery stores are made on credit. The shop owner then sends one of his employees to collect the amount at the customers’ doorsteps or during one of their regular visits to the store. The founders claim that, currently, OkCredit has a registered a base of 7 million merchants and is witnessing nearly 4 million monthly active sessions on the app.

“OkCredit represents a rare breed of companies that are discovering digital and viral growth in a market where, traditionally, feet-on-street was the only acquisition strategy. We are fortunate to witness this transition along with a team that is deeply connected to its customers and is solving with a first-principles approach to product development,” stated Harsha Kumar, Partner, Lightspeed India.