EV Financing Platform Finayo Secures Rs 16 Crore Funding

EV finance and asset management platform Finayo on Monday said it has secured Rs 16 crore in funding from investors, including NBFCs F Mec and CFPl, as well as HNIs and angel investors.

The funding aims to fuel technological advancements and extend the platform's presence across India, said Finayo.

F Mec International Financial Services Ltd and Choice Finserv Pvt Ltd are RBI-registered NBFCs, providing funding to progressive businesses, according to the platform.

Finayo said the recent fund raise is aimed at promoting affordable EV adoption and making green financing accessible to consumers.

"We want to utilise this funding to invest in technologies and expand our footprint across India while accelerating an inclusive network of EV financing," said Brajendra Singh Tomar, co-founder and CEO of Finayo.

Finayo said it plans to escalate its business operations, boosting EV growth in all remote corners of the country, it said.

Restaurant and food discovery platform Hogr on Monday said it has raised Rs 10 crore in a seed funding round led by Curefoods.

The funding by Curefoods, which owns brands such as EatFit and Cakezone, will enable expansion of the app's reach, enhancing features, and introducing exciting updates to elevate the user experience, Hogr said in a statement.

"Curefoods is a pioneer in the food tech sector and having them onboard will help propel Hogr in the right direction," Hogr Co-founder and CTO Harish Harshan said.

On the investment, Curefoods Founder Ankit Nagori said, "We've noticed that Hogr addresses and streamlines the challenge of discovering new dishes and restaurants, as well as forms a food community via peer-to-peer recommendations. This aspect intrigued us and motivated our decision to invest in this app."