Below are the startups that have raised funding today. This article will be updated as and when the new funding news comes in.
CleanMax Raises Funding From IFC
International Finance Corporation (IFC) has made an equity investment of $15 Mn in Mumbai-based CleanMax Solar. This is IFC’s first equity investment globally in a grid-connected distributed generation.
The raised capital will be used by CleanMax to continue its rapid growth in India’s solar market.
Founded in 2011, Mumbai-based CleanMax Solar puts up solar plants – rooftop or otherwise – at its own cost and sells the power directly to customers. This investment by IFC is in conjunction with the $100 Mn investment made by Warburg Pincus, a global PE fund, in CleanMax earlier this year.
CleanMax Solar business has grown from 8 MW in 2014-15 to nearly 100 MW in 2016-17 and is expected to add an additional 300 MW of capacity in 2017-18. The company has marquee customers such as companies of the Tata, Mahindra, and TVS groups, Mindtree, Adobe India, United Breweries and SKF India.
Cisco Systems executive chairman John Chambers Backs Chennai-based Uniphore
US-based Cisco Systems executive chairman John Chambers has picked up a 10% stake in Chennai-based Uniphore Software Systems. This is Uniphore’s Series B round of funding.
The startup will use the funds to deepen research for product enhancement, upgrade customer service infrastructure, expand sales and hire talent.
Founded in 2008 by Umesh Sachdev and Ravi Saraogi, Uniphore provides speech recognition software. The company’s product portfolio comprises speech analytics platform auMina, virtual assistant akeira and portable voice biometrics platform amVoice.
Uniphore, which has offices in the Philippines, UAE, Singapore and the US, claims to have more than 70 enterprise clients.