CoreStack raises $30 mn, Park+ bags $25 mn

NEW DELHI: CoreStack, a global multi-cloud governance SaaS provider, on Wednesday said it has raised $30 million (about Rs 223.2 cr) in a funding round, led by Avatar Growth Capital.

The Series B round also saw participation from Dallas Venture Capital (DVC), Iron Pillar and other angel investors, a statement said.

This brings CoreStack’s total funding to $45 million, it added.

The funding will help CoreStack continue its rapid pace of growth and innovation with its AI-powered continuous and autonomous cloud governance at scale, while also making strategic headway with expansion into new markets, it said.

Abhay Havaldar, MD, Avatar Growth Capital, will join CoreStack’s Board of Directors, upon required legal clearances, the statement added.

Meanwhile, Park+, a super app for car users, said it has raised around $25 million (about Rs 186 crore) in funding, co-led by Sequoia Capital India, Matrix Partners India and Epiq Capital.

Existing and new investors, including AdvantEdge, Fund II - A Series of Somani Investments LP and Motherson Lease Solution Limited, also participated in the Series B round, a statement said.

Post COVID, there is a strong shift away from public transport and shared mobility, with a growing preference for personal vehicles, Park+ founder and CEO Amit Lakhotia said.

Similarly, the digital financial services firm Indifi Technologies said it has raised Rs 340 cr in funding, including Rs 140 crore of equity funding from investors like CX Partners and OP Finnfund Global Impact Fund I.

CX Partners and OP Finnfund Global Impact Fund I along with existing investors CDC Group (the UK’s development finance institution), Omidyar Network, Flourish Ventures, Elevar Equity and Accel invested 140 crore in series D round of equity capital raise for Indifi Technologies.

The Series D round brings Indifi’s total equity fund raise to date at over Rs 350 crore.