Mindtree founders’ Mela Ventures closes first fund; Ather sells 2042 EVs in Feb; Sony launches extra bass headphones

Mindtree’s founders have closed the inaugural fund at their early-stage venture capital firm Mela Ventures at Rs. 320 crore, well exceeding their initial target of Rs. 200 crore, Economic Times reports. EV company Ather Energy sold 2,042 scooters in February this year, a 140 percent increase over the same month in 2021. Plus, Sony has released a new wireless headphone for bass enthusiasts. Notes: Mindtree founders’ VC firm closes first fund at 320 crore rupees Mindtree’s founders have closed the inaugural fund at their early-stage venture capital firm Mela Ventures at Rs. 320 crore, well exceeding their initial target of Rs. 200 crore, Economic Times reports. Krishnakumar Natarajan and Parthasarathy NS started Mela after leaving Mindtree, their Bangalore based IT services company which was acquired by Larsen & Toubro Group. They will back companies in the business-to-business segment. Mela achieved the first close in August 2020 when it secured Rs. 130 crore from investors. The fund of funds from India’s Small Industries Development Bank contributed a significant portion of Mela’s first fund, while the rest came from investors including Nippon India Digital Fund, several family offices and ultra-high-net-worth individuals, according to ET. EV company Ather can’t keep up with demand Ather Energy sold 2,042 scooters in February this year, a 140 percent increase over the same month in 2021, the company said in a newsletter. The company could have sold many more if it had been able to make them faster, according to the newsletter. Ather says that February’s sales represent a fraction of the Bangalore-based electric scooter maker’s pending pre-orders. Bizongo sees jump in revenue as textile units adopt its tech Bizongo, which provides an online platform for small manufacturers to digitalise their operations, saw its revenues increase 20-times to Rs. 600 crore in the last 11 months, on an annualised basis, as its solutions saw rapid adoption by the textile hubs of the southern Indian states of Tamil Nadu, Andhra Pradesh, and Karnataka, the Bangalore startup said in a press release yesterday. A substantial part of the growth is driven by the digitalised and automated supply chain financing solution provided to manufacturers to help them with their credit and working capital needs. Bizongo has been helping MSMEs with collateral-free and minimum documentation working capital lines, according to the press release. Student loan startup Kuhoo raises $20 mln in seed funding Kuhoo, a fintech startup providing student loans, has raised $20 million in seed funding from WestBridge Capital. The Mumbai-based company founded by Prashant Bhonsle, a former banker, aims to provide online loans to students aspiring to study in universities in India and abroad. The company’s products will cover engineering, MBA, executive education, online courses, coaching classes, and even-new age courses, it said in a press release. Sony releases WH-XB910 with more bass Sony India has launched a new overhead wireless headphones WH-XB910 featuring the company’s EXTRA BASS technology, the company said in a press release on February 28th. The headphones are equipped with 40 mm drivers and they offer club-like bass, improved noise cancellation with dual-sensor noise technology, adaptive sound control, and up to 30 hours of battery life. The headphones are now on sale and will set you back by about Rs 15,000. Theme music courtesy Free Music & Sounds: https://soundcloud.com/freemusicandsounds