Capria Ventures, a venture capital firm that specializes in investing in entrepreneurs in emerging markets, has announced the first close of a $100m fund.
The focus of the new fund will be on investing in 20-25 tech start-ups in India, Southeast Asia, Latin America, the Middle East, and Africa. Capria Ventures Co-founder and Managing Partner, Will Poole, said that the fund will concentrate on Generative AI and climate start-ups. Poole believes that Generative AI has come on to the world very quickly and represents the most to gain and the most to lose in India. Capria Ventures is already investing in BharatAgri, a farmer services advisory firm, and has observed how the company is employing generative AI to make their interface more cost-effective.
ZestIoT, an IoT and AI-powered aviation platform, has concluded its series A funding round, raising $6.5m. The round was led by Ivycap Ventures and Loyal VC also participated. ZestIoT’s GroundRadar platform improves the speed of aircraft turnaround while maintaining operational efficiency and safety. The company manages over 600 flights, 600 equipment, and 9,000 personnel daily.
Kiwi, a credit card platform, has secured $6m in pre-seed funding and plans to launch a ‘Credit on UPI’ solution via the Kiwi app by issuing Rupay cards in partnership with banks. The app is expected to go live by mid-May, with the company aiming to onboard a million users in the first 18 months. Kiwi’s co-founder, Siddharth Mehta, revealed the company’s plans to create a direct-to-consumer-like model in the credit market.