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SpotDraft bags $1.5 million from Angel Investors

SpotDraft, a legal tech startup, has raised $1.5 million from angel investors in pre-Series A round. The funding was led by Binny Bansal and Sailesh Tulshan’s fund 021 Capital, with participation from Girish Mathrubootham, Co-founder Freshworks; Karanpal Singh, Founder Hunch Ventures; Indus Khaitan, Chief of Growth, Chargebee; Peeyush Ranjan, VP Engineering, Google Inc. and Singapore Angel Network.
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Ziploan grabs $12.5 million Series B from SAIF Partners

Ziploan, Indian online lending platform, is reported to have raised $12.5 million in Series B round led by Venture Capital and Private Equity firm SAIF Partners. Other participants in the funding round include Matrix Partners India, WaterBridge Ventures and Whiteboard Capital. Ziploan plans to use the funds into expanding business operations and service offerings in Delhi NCR, Mumbai, Indore, Lucknow
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BIGO to invest $100 million in India

BIGO Technology, a Singapore based internet company, is planning to expand its operations to India as well as investing around $100 million in India. It currently has its existence in Southeast Asia with live streaming platform BIGO live and video editing and sharing platform LIKE. With its footstep in India, BIGO will have 20 regional offices and 4 regional centres by
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ADB expects Asia to grow 6% this year

Manila based institution, Asian Development Bank released an update of Asian Development Outlook on Wednesday which clearly stated that Asia will grow 6% this year and 5.8% next year. According to the report, China is expected to grow 6.6% and 6.3% in 2018,2019 where India is expected to grow 7.3% and 7.6% in the same period. The reasons for growth are
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Bangladesh – The 3rd highest remittance receiving country in South Asia

Bangladesh becomes the 3rd highest remittance receiving country in South Asia, 9th in the world. It has seen a 17.9% growth in remittance earning in 2018 where the rate saw declination of 11.5% in 2016. The leader in remittance earning is India ($79.5 million), followed by China ($67 million) and Mexico & Philippines ($34 million). World Bank reports that the developing
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Bangladesh – The most Optimistic Market

Bangladesh remains the most optimistic market according to the HSBC Navigator Survey on 34 countries. The countries included were the US, the UK, Canada, Brazil, Mexico, France, Germany, Italy, Spain, Russia, Switzerland, Turkey, Australia, China, Malaysia, Singapore and Vietnam. The survey, conducted by Kantar TNS, takes into account the responses of over 8650 businesses from small to mid to large
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Online tutoring platform Vedantu raises $11m led by Omidyar Network

Vedantu, an online tutoring platform, has raised $11 million in a Series B funding round led by Omidyar Network, the company’s co-founder, Vamsi Krishna, said in an interview. The funds will be used for technology expansion and deeper penetration in tier 2 and 3 cities. Accel Partners, an existing investor, also participated in the round. Vedantu, which means ‘knowledge network,’ is
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SBI venture arm to roll out funds targeting SMEs and affordable housing

SBI Capital Ventures Ltd (SVL), an alternative asset management arm of State Bank of India group, will float two funds – Small and Medium Enterprises (Rs 4 billion) and Affordable Housing Fund (Rs 3.5 billion). This is part of plans to expand the portfolio of funds under SBI Caps Ventures, a subsidiary of SBI Capital Markets Ltd. Both funds are targeting closure of fund in the
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