Celebal Technologies, Avammune Therapeutics, M1xchange raise funds

In multiple startup funding rounds, AI services firm Celebal Technologies, healthtech player Avammune Therapeutics and trade receivables platform M1xchange have raised capital.

InCred, Norwest back Celebal

Celebal Technologies, a data and AI services firm, has raised $15 million from InCred Growth Partners Fund – I and Norwest Capital, LLC.

The investment will accelerate Celebal’s expansion in key markets across North America and Europe. It will also provide comfort capital for growth initiatives such as the development of AI powered industry solutions across sectors like energy, manufacturing, retail/CPG, lifesciences and financial services.

Founded in 2016 by Anirudh Kala and Anupam Gupta, Celebal enables digital transformation for over 250 enterprise customers worldwide. The company provides services to Databricks and Microsoft.

Avendus Capital acted as the exclusive financial advisor to Celebal.

Avammune Therapeutics raises funds

Healthtech startup Avammune Therapeutics said it has raised Rs 100 crore ($12 million ) in its Series A round of funding led by Capital 2B, Shastra VC, and Kotak Lifesciences Fund I.

IvyCap Ventures and existing investor 1Crowd also participated in the round.

The funds will be used to accelerate its drug pipeline, focusing in particular on developing orally bioavailable small molecules.

Filter Capital backs M1xchange

Filter Capital, a growth-stage investment firm targeting technology-led businesses in India, has invested about $10 million (Rs 84 crore) in M1xchange, India’s trade receivables discounting system platform.

M1xchange has facilitated over Rs 1.75 lakh crore, or $20 billion, of invoice discounting. The platform has witnessed a 100% YoY growth and has a base of 50,000+ MSMEs and 2,800+ corporates with over 66 banks and NBFCs, the firm said in a statement.

Filter Capital’s portfolio companies include Capillary Technologies, Chalo Mobility, LoadShare Networks, and THB.

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