Latest News | Business Briefs PlayerzPot Raises $3mn Million in Funding

New Delhi, Nov 17 (PTI) Online fantasy gaming platform PlayerzPot on Tuesday said it has raised USD 3 million (about Rs 22.3 crore) in funding.

The company, however, did not disclose the name of the investor that participated in the Series A round.

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The funds will be utilised in further expanding its verticals, introducing various innovative concepts to enhance user experience, make advancements in RMG (real money games) and overall brand building, a statement said.

Started in 2015, PlayerzPot has seen 3x growth in revenue and 2x growth in user base during IPL 2020, it said adding that the highest growth came from tier II and III cities.

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**** 9Unicorns, Mumbai Angels, others invest $1 mn in Instoried

* Accelerator fund, 9Unicorns, Mumbai Angels and others have invested USD 1 million in AI-driven content start-up, Instoried.

The pre-Series A round led by Mumbai Angels and also saw participation from London-based JPIN, Jain Angel Network, SOSV, Artesian, FAAD Angel Network, Lead Angels and a US-based VC, a statement said.

The Bengaluru-based start-up had earlier raised USD 500,000 as part of a seed round last year from SOSV, Venture Catalysts, Jain Angel Network, Artesian and JPIN from London.

The company plans to utilise the fresh funds in its expansion activities, hire a larger team, initiate marketing activities and increase its product offerings globally. Instoried was focused on text based content so far but is now moving into the video space.

**** Birlasoft, Incorta join hands to optimise data-to-insights value chain * Birlasoft Ltd and M12-backed Incorta on Tuesday announced their partnership to help organisations transform voluminous data into actionable insights with speed and accuracy.

Birlasoft is developing applications on Incorta's cloud-agnostic platform to make customers' ERP systems smarter, more scalable, and faster by analysing data in real-time from across the entire organisation, a statement said.

The goal is to help customers make smarter decisions with intelligent ERP systems, it added.

"Digital transformation is about digitising and modernising core business processes and harnessing data to drive efficiency and innovation,” Ajit Singh Chawla, SVP and Global Head, Digital Business at Birlasoft, said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)