Razorpay, India's online payment platform, raises $75 million in Series C funding to solve payment challenges: how to access four-way payments in India

Indian Online Payment Platform Successfully Secures $75 Million in Series C Funding

The online payment platform managed to raise $75 million in a Series C round of funding from investors including lead investor Sequoia Capital, Tiger Global and a fund of funds.

The company is an Indian online payment service provider that offers standardised cross-platform online payment services to B2B and B2C businesses in India.

The company was founded out of a desire to address the payments challenges faced by underserved micro, small and medium enterprises, while driving the transformation of the Indian economy through new ideas, products, experiences and employment opportunities. India's large digital payments market requires a company that can build trust between consumers and retailers to facilitate faster and more efficient payment transactions in the country.

The company is said to be planning to use the financing to strengthen two of its new business lines - its new banking platform X and its lending division.

Strategic Financing - Artificial Heart Assist Device Developer Kang Healthcare Secures $100 Million in Financing

Kangjian Medical, a company focusing on the development of artificial heart assist devices, has secured $100 million in strategic financing from Lanshan Medical.

HealthCare mainly develops CH-VAD products with left ventricular assist, right ventricular assist and biventricular assist functions.

It is understood that only about 300 heart transplants can be performed each year in China, and even in the United States, which has the highest number of heart transplants, there are only about 2,000 per year. However, the number of new heart failure patients reaches hundreds of thousands each year, making heart transplants an unaffordable medical option for the general public.

Proceeds from this round of financing will be used to expand its trajectory of cutting-edge technology development in the cardiac space, diversify its product line, and prepare for access to the expansive heart failure market.

Domestic news highlights

Angel Round - Catering Data Analytics Provider Jetway Information Closes $8 Million Funding Round

Jetway Information is a data analytics service provider for the F&B industry, offering integrated big data analytics services for restaurant and retail brands.

It is reported that Jiehui Information has completed an angel round of financing of 8 million yuan, led by Hongyou Investment.

Angel Round: Medical Beauty Service Provider Meidu Secures $5 Million in Funding

Beauty Doo is a combined online and offline medical aesthetics service provider that offers online consultations, follow-up appointment scheduling, and offline diagnostic and treatment services through its online platform and shared surgeries.

It is reported that Beautiful Doo has obtained 5 million yuan of angel round financing.

Angel Round: Clothing Brand Operator Yicang Youpin Secures Tens of Millions of Yuan in Financing

Yicang Youpin is an apparel brand operator that focuses on apparel brands, sports brands, business casual brands, footwear and leather goods brands, and children's apparel brands.

It is reported that Yicang Youpin has obtained tens of millions of yuan of angel round financing, the investor is IDG Capital.

Angel Round: 36 Strategies Super IoT Platform Startup Secures Tens of Millions in Funding

"36 Entrepreneurial Strategies" is a super social platform jointly created by Hurun 100 professional organisations, which releases the ranking of emerging companies every year.

The super social platform has reportedly received tens of millions of yuan in angel round financing from investors including Qifu Capital and Hurun Billionaires.

Series B+: Hot Cloud Data, a data statistics and analytics platform, secures $100 million in financing

HotCloud Data is a mobile application and game data analytics platform that provides developers and enterprises with a mobile advertising channel effectiveness evaluation platform and a game operation support platform to help them establish a data operation system.

It is reported that Hot Cloud Data has obtained 100 million yuan of Series B+ financing, with investors including Fosun Group (the lead investor) and TEDA Investment.

Strategic Financing: AGV Robot Developer WSP Secures $20 Million in Financing

WSP is an AGV robot developer, focusing on the independent research and development of laser-guided AGVs and logistics and warehouse management systems, and is committed to providing customers with intelligent AGV logistics solutions.

It is reported that WSP has obtained 20 million yuan of strategic financing, and the investor is Happiness Capital.

Strategic Financing: Property Services Provider Beijing Guosheng Secures $430 Million in Financing

Beijing Guosheng is a property management service provider and a wholly-owned subsidiary of Hainan Airlines.

It is reported that Beijing Guosheng has obtained 430 million yuan of strategic financing, the investor is Gao Tong Capital.

Strategic Financing: digital currency exchange IXX secures $5 million in funding

IXX Exchange is a digital currency exchange that provides trading services for digital currencies such as Bitcoin and Ether, as well as price information for the relevant currencies.

IXX Exchange has reportedly secured $5 million in strategic financing.

Foreign Affairs News Highlights

US dermatology drug developer closes $8m Series A funding round

This dermatological drug developer is dedicated to the discovery and development of live bacteria products for the treatment of skin diseases.

The dermatological drug developer has reportedly closed an $8 million Series A round of funding from investors including Toba and Zola.

US luxury shoe brand service provider secures $50m Series C funding

The luxury shoe brand service provider is based in the U.S. and currently generates 50% of its brand sales and 80% of its customer traffic from mobile devices, making mobile business a core competency of the company.

The luxury shoe branding service provider has reportedly secured $50 million in Series C funding from NEA New (the lead investor), among others.

US-based outdoor sports brand provider 66° secures strategic financing

66° is an outdoor sports brand provider that initially specialised in warm clothing for fishermen and now focuses on developing a wide range of functional outdoor clothing.

66° has reportedly secured strategic financing.

UK insurtech company Zego closes $42m Series B funding round

Zego is a company that offers sharing economy insurance products, with its first product being motorbike and car insurance for delivery drivers using similar platforms.

Zego has reportedly secured $42 million in Series B funding.

UK coffee chain secures £13m in strategic funding

The coffee chain has secured £13m in strategic funding.

French Photo Enhancement and Intelligent Editing Platform Secures $230 Million in Series C Funding

The platform is a smart online photo enhancement and editing platform that allows users to easily get beautiful photos of products or locations.

The photo enhancement and smart editing platform has reportedly secured $230 million in Series C funding.

Swiss agri-tech firm raises Rs 30 million in Series B funding

The agri-tech company uses cameras on its drones to capture spectral images of farmland and then analyses them using artificial intelligence software to alert farmers to changes in their fields and make predictions.

The agri-tech company is learnt to have raised Rs 30 million in Series B funding.

Indian industrial IoT service provider closes Rs 69.8 lakh seed funding round

The industrial IoT provider uses AI technology and its unique algorithms to help manufacturing companies identify plant-level obstacles and improve equipment efficiency. The company is also a product of the Accelerator Programme.

The industrial IoT service provider is learnt to have closed a seed round of Rs 69.8 lakh.

Indian industrial data management services provider closes Series A funding round

The company is an industrial automation and industrial data management service provider that offers products that increase the efficiency and productivity of an organisation's equipment while reducing costs and environmental impact.

The industrial data management service provider is said to have closed its Series A funding round.

Indian digital lender closes Rs 800 crore strategic funding round

Founded in 2014, the company is an online financial institution that specialises in providing loans to small and medium-sized businesses.

The digital lender is said to have completed a Rs 8 crore war