In brief: Teachmint raises US$78M, Authing nets US$23M, Ilham Habibie joins Ayoconnect as Commissioner

Teachmint

India’s ‘ed-infra’ startup Teachmint closes US$78M Series B

Investors: Rocketship.vc and Vulcan Capital co-lead the round, with participation from Goodwater Capital, Epiq Capital, and existing investors Learn Capital, CM Ventures, Lightspeed India, and Better Capital.

Plans: Teachmint aims to double its workforce in the next six months to support its global expansion. A portion of the capital will also be used to strengthen Teachmint’s proprietary classroom technology. It is also eyeing a few strategic acquisitions to strengthen its infrastructure offering.

About Techmint: Launched in 2020, Teachmint offers end-to-end infrastructure needs of educators — from K-12 schools to after-school tutoring to universities and edutech firms. Through its classroom infrastructure, teachers are able to deliver live online classes, ensure continuous student engagement and automate their admin workflows. The startup claims to have registered a user base of over 10 million teachers and students from 5,000 cities in the world.

Also read: Edutech is surging, but here are the 3 issues it is facing

China’s identity cloud platform Authing banks US$23M in Series A

Investors: Tiger Global, CDH Investments VGC, Agora, GGV Capital, and MiraclePlus.

Plans: To continue investing in research and development, attracting talent and expediting commercialisation progress.

About Authing: Authing provides apps with authentication, authorisation, user management and security risk control services from the perspective of identity-as-a-service cloud computing for enterprises. The startup also integrates nearly 100 applications to help enterprise administrators and developers streamline the complete Single Sign-On applications process, covering collaborative office, cloud computing, marketing, management, development tools, human resources and other fields. It boasts to have served clients spanning across Europe, America and Asia.

Bangladesh’s Bondstein secures US$1M for new IoT solutions R&D

Investors: Runner Group and Runner Trading Limited.

Plans: To drive acquisitions, R&D of new IoT solutions, increased inventory and expansion of manufacturing facilities. Bondstein also aims to expand in IoT technology export.

About Bondstein: Bondstein serves a wide range of customers through offering connected technologies, including vehicle tracking, remote power monitoring, smart home, among others.

Also read: How to firm up your IoT strategy to combat online risks

Ilham Habibie joins Indonesia’s fintech Ayoconnect as Commissioner

The story: Ilham Habibie will join Ayoconnect as a commissioner, bringing into the fold his experience in Indonesia’s ICT and finance landscape.

Background: Habibie previously served as Ayoconnect’s strategic advisor since August 2020 before joining the ranks of investors in Ayoconnect’s pre-series B round in September. He is currently the chairman of Bank Muamalat, Indonesia’s first Islamic (Sharia) Bank, and leading Indonesia’s National ICT Council and the Agency for Research and Technology of the Indonesian Chamber of Commerce and Industry (KADIN).

About Ayoconnect: Founded in 2016, Ayoconnect offers a wide range of financial white-label products on its Application Programming Interface (API) platform. The startup claims to service more than 100 Indonesian companies as clients and connecting more than 1,000 institutions through its network of APIs. In September, it secured fresh funds of US$10 million in a pre-Series B round.

Left to right_ Ilham Habibie (Commissioner) - Jakob Rost (CEO) - Chiragh Kirpalani (COO)

(Left to right) Ilham Habibie (Commissioner) – Jakob Rost (CEO) – Chiragh Kirpalani (COO)

India’s interior design marketplace Livspace to expand to Middle East

The story: Livspace will execute its expansion strategy into the Middle East through a strategic joint venture with the Alsulaiman Group (ASG), an operating partner of home furnishings retailer IKEA in the region.

Also read: The future of interior design is here

Plans: Livspace will explore the opportunities in the home interiors and renovation segment in the MENA region starting with the Kingdom of Saudi Arabia. The JV will also further its plan to strengthen the team by investing in talent across levels while also aiming to onboard over a thousand design and home improvement professional partners in the region by 2022.

About Livspace: Founded in 2014 and based in India, Livspace is an omnichannel home interior and renovation platform. It owns a proprietary technology to provide a one-stop renovation solution for homeowners — from design to managed last-mile fulfilment for all rooms in a home. The startup currently serves users in Singapore and 21 cities across India. To date, it has raised over US$200 million in capital from global investors, including TPG Growth, Goldman Sachs, Ingka Ventures (IKEA), Kharis Capital, and so on.

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Image Credit: Techmint, Ayoconnect

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