India's Kalaari Capital backs two domestic start-ups
Indian technology investor Kalaari Capital has invested $6 million across domestic start-ups, AffordPlan and Active Intelligence.
The companies each received $3 million of Series A funding. The AffordPlan round included participation from Prime Ventures, while the Active round included participation from IDG Ventures. They are the first two companies to graduate from Kalaari's Kstart seed program.
New Delhi-based AffordPlan provides a finance platform that focuses on improving access to healthcare through planned savings. The services allows hospitals and patients to co-design flexible payment plans so that patients can obtain medical treatment and products through a manageable payment structure based on individual need and cash flow.
"AffordPlan identified a massive problem that is underserved today," Vani Kola, founder of Kalaari said, according to Tech in Asia. "They then created a solution for it in a structured but condensed time period."
Active offers an artificial intelligence platform for the financial services sector that allows for automated customer interactions. It is expected to use the new capital for technology development and expansion of its customer base in Asia and North America.
Founded in 2006, Kalaari claims $650 million in assets under management. Typical investments range from $1-4 million with focus areas including the IT, consumer, financial services, medical and retail sectors.
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