#FundingAlert: Skylark Drones raises $3 million, Furlenco raises $140 million in Series D, and more

Here's a round-up of the latest funding news.

Skylark Drones raised $3 million

The leading drone platform company plans to use the pre-series A funding for international expansion and to strengthen its product offerings.

The investors InfoEdge Ventures and IAN Fund led the current funding round, which also saw participation from AdvantEdge Founders, Fowler Westrup, Redstart Labs, IKP, and Vimson Group, according to a press release.

The company secured its seed funding in 2018 and aims to elevate worksite productivity and safety by providing geospatial intelligence to different enterprises.

Furniture rental platform Furlenco raises $140 million in Series D

The new financial round, led by Zinnia Global Fund, comprises a $120 million debt raise and the rest in equity, TechCrunch reported.

Furlenco said that with the new round, the 7-year-old company will cater to larger audiences with more tailored solutions and new offerings, expand to more cities and build its asset and subscriber base.

Earlier this year, the rental company raised Rs20 crore from venture debt firm BlackSoil Capital, and last year it had raised around $10 million in debt and equity from Lightbox.

Rewards-based payment network Twid raised $2.5 million

Twid, which connects customers with merchants to pay with points earned from a ‘Point Issuer’ programme, has raised $2.5 million led by BEENEXT and Sequoia Capital India's Surge, YourStory reported.

The startup’s ‘Pay with Rewards’ platform has worked with brands like PayU, NPCI's nth Rewards, IndusInd Bank, Jiomart, and TimesPoint among others.

Started last October by Amit Koshal, Amit Sharma, and Rishi Batra, the platform claims to have processed over one million transactions to date. 

Industrial AI startup Detect Technologies raised $12 million in seed funding

The Chennai-based startup’s seed funding round was led by Accel Partners and Elevation Capital and also saw participation from Bharat Innovation Fund, BlueHill Capital, Axilor Ventures, and others.

The capital will be used by the company to enhance its industrial productivity and strengthen its sales and operations teams across the country and overseas. A portion of the funds will also be deployed for R&D and product innovation, Entrackr reported.

Amanat Khullar is the Content and Editorial Manager at ADIF.

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