Investment companies EduFund, ANNY, and Hudle secure funds from early-round financing
In a significant development for the Indian startup ecosystem, three companies - EduFund, ANNY, and Hudle - have recently secured funding to fuel their growth and expansion.
**EduFund**
EduFund, an Ahmedabad-based full-stack education planning and financing platform, has raised $6 million (approximately ₹50 crore) in a Series A round led by Cercano Management and MassMutual Ventures. This funding brings the total capital raised by EduFund to $12 million. The platform, which supports over 250,000 families and partners with over 40 asset management firms and 15 lending institutions, aims to utilize the funds to enhance its AI-driven advisory services, expand loan offerings with a focus on undergraduate students, and increase its presence in Tier-2 and Tier-3 cities. The company's goal is to provide comprehensive tools for education financing, including investment plans, education loans, and expert counseling.
**ANNY**
ANNY, a fashion-tech startup, has raised ₹10 crore (approximately $1.16 million) in a pre-Series A funding round led by Atomic Capital. The company, which is focused on developing its inventory-light platform in the accessible luxury segment, intends to use the investment to drive its ambition of becoming a ₹100 crore+ ARR (annual recurring revenue) brand by next year. The company's founder and CEO, Japjot Singh, stated that the investment will help the brand become a significant player in India's fashion-tech landscape and drive a true movement in the industry.
**Hudle**
Although specific details about Hudle's current status were not provided, the sports-community platform has reported 3.5x growth in gross transaction value and 2.5x growth in revenue over the last twelve months. The platform, which connects players with venues, streamlines facility management, and creates a digital ecosystem, is expected to use the funds to grow its platform and services focused on sports communities.
In summary, EduFund and ANNY are leveraging their funding to expand their services and reach, while details about Hudle's plans are not explicitly mentioned in the available information. These developments underscore the growing interest and investment in the Indian startup ecosystem, particularly in sectors like education and fashion-tech.
- The technology used by EduFund, such as their AI-driven advisory services, will be improved and expanded with the $6 million funding they've received.
- In the realm of fashion, ANNY intends to use their $1.16 million funding to strive for becoming a significant player in India's fashion-tech industry and reach a revenue of ₹100 crore+ by next year.
- The sports-community platform Hudle, having reported growth, is expected to utilize their funding to expand their services focused on sports communities, providing a digital ecosystem in the general-news-worthy field of sports.
