Fintech startup Finsall raises Rs 15 crore

Fintech startup Finsall has raised Rs 15 crore in a bridge round led by Unicorn India Ventures and Seafund with participation from other institutional investors as well.

The funds raised will be used for setting up an NBFC to scale lending operations and deliver more value to its customers in insurance premium financing as well as for developing more strategic partnerships with the insurers, intermediaries, and lenders, among others, the company said in a statement.

It will also utilise funds to broaden service offerings and enhance distribution channels.

"This interim bridge round will help us focus on scaling our books and taking a huge leap forward in creating an NBFC in the insurance premium financing industry," Tim Mathews, Co-Founder and CEO of Finsall, said.

Skye Air raises USD 4 million* SaaS-based autonomous logistics solution provider Skye Air on Wednesday said it has closed its Series A funding round, raising around USD 4 million (about Rs 33 crore).

The fundraising round was backed by Mount Judi Ventures, Chiratae Ventures, Venture Catalyst, Windrose Capital, and Tremis Capital along with participation from Faad Capital, Misfits Capital, Hyderabad Angels, Soonicorn Ventures, other existing investors, and family offices, the company said.

The fresh capital will help the company expand its last-mile network across Gurugram and other cities for healthcare, e-commerce, and quick-commerce deliveries, it said.

The Delhi-NCR headquartered firm focuses on integrating drone deliveries as a mainstream logistics solution for various industries, including healthcare, e-commerce, quick-commerce, and agri-commodity.

Star Air to operate flight services on Nanded-Nagpur, Nanded-Pune routes *

Regional carrier Star Air has said it will begin two new flights from Nanded, one to Nagpur and another to Pune, starting June 2.

It will be operated with Embraer E175 aircraft with a dual-class configuration of 12 business class seats and 64 economy class seats.

With the addition of these flights, Nanded is now connected to nine major destinations across India.

"Nanded is an important market for us, and by connecting it to Nagpur and Pune, we aim to support the region's growth and provide our customers with convenient and efficient travel options," Simran Singh Tiwana, Chief Executive Officer of Star Air, said.

Star Air currently operates its air services to 22 destinations in the country.