IIM-Bangalore incubated fintech and adtech startup Vigyos Centre has raised Rs 1 crore in funding from Japanese investors, with employees from Softbank also participating in the funding round.
According to the startup, The raised capital will be used to strengthen the research and development department (R&D), recruit quality manpower, and build a robust technology infrastructure.
Founded by Kanishq Gupta and Faiz Khan, Vigyos Centre provides 200 financial services in offline and online modes in Tier II and III cities by the means of franchise setup to small and middle enterprises.
Kanishq Gupta, founder of Vigyos Centre, said, “Many times the SMEs are not able to grow due to lack of funds. We have also found them developing cutting-edge technologies, but unfortunately due to a lack of procedural knowledge, they haven’t patented their innovation. This makes them vulnerable to theft and exploitation. Our team apart from giving them loans also assist in filing patents and helping them to expand. This funding will help us in upgrading our technological infrastructure that will help in reaching out to more SMEs.”
"The company has been incubated by Indian Institute of Management in Bangalore and is founded by Kanishq Gupta and Faiz Khan. They are targeting small and middle enterprises, providing them with more than 200 financial services in offline as well as online modes, in tier 2 and 3 cities by the means of franchise setup. They give SMEs loans to increase the present capacity or set up a new business, assist in filing patents, register trademarks, etc," the company said.