Aavishkaar’s Bharat Fund attracts $15.5 million from India’s Hero Enterprises

Hero, a leading industrial business group in India, is investing $15.5 million in Aavishkaar’s sixth fund as part of its foray into startup investing. “It is clear that for the entire country [of India] to develop, rural areas and underprivileged citizens must become part of the economic miracle, not through charity, but through real opportunities,”

Aavishkaar’s Bharat Fund attracts $15.5 million investment from India’s Hero Enterprises

Hero, a leading industrial business group in India, is investing $15.5 million in Aavishkaar’s sixth fund as part of its foray into startup investing. “It is clear that for the entire country [of India] to develop, rural areas and underprivileged citizens must become part of the economic miracle, not through charity, but through real opportunities,”

BIMA raises $38.4 million for mobile microinsurance in Africa, Asia and Latin America

BIMA has raised $38.4 million for mobile microinsurance in Africa, Asia and Latin America. The four-year-old company now serves 18 million people in 14 countries with plans to reach 750,000 more customers per month with its mobile-delivered life, personal accident and health insurance services. “BIMA continues to create game-changing new business models that can open up

How to bridge Kenya’s housing gap

Kenya has a housing deficit of over two million units, and more than six in 10 urban Kenyans live in slums. Its Vision 2030 Strategy calls for 200,000 new units per year, quadruple the current rate. Filling Kenya’s gap for affordable housing could spur the “housing multiplier effect”: economic growth, job creation, and a deepening of

India’s Diabetes Specialities Centre raises $10 million to expand clinic network

India’s Diabetes Specialities Centre has raised $10 million to expand its clinic network. The 26-year old venture fighting diabetes in India raised its first round of institutional capital. Dr. Mohan’s Diabetes Specialities Centre attracted $10.2 million from Lok Capital and the Evolvence India Fund. The Chennai-based company, headed by Dr. V. Mohan, has two hospitals and 23

IntelleGrow to raise $100 million to meet capital demand from Indian social ventures

CEO Akbar Khan, the former GE executive who joined IntelleGrow in November, is charting an aggressive growth strategy for the company. The venture debt arm of India’s Intellecap Group plans to raise $100 million in debt and equity this year to finance young, high-risk and under-banked companies in social sectors in India. “As our customers grow, their

Village Capital seeds Simulanis to boost job-readiness in India

Delhi-based startup Simulanis uses gaming tools and virtual reality to train engineering students for the workforce. Village Capital led a group of angel investors to provide an undisclosed amount of seed capital. India is in need of 120 million more skilled workers in the next five years across two dozen economic sectors, says VilCap’s Victoria Fram. Simulanis,