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Funding Digest: Kinsane, Tonetag, Tapzo, and Moneytor

Kinsane Entertainment secures US$ 2.5mn

Kinsane Entertainment Inc, a global digital entertainment company has raised angel funding of US $2.5 million from a clutch of angel investors which includes Neeraj Bhargava, CEO of Zoidus Capital. The company was co-founded by Kurt Inderbitzin, Indrani Pillai, and Saahil Bhargava last year. It creates digital content for kids aged 2-11 years in numerous languages, then distributes that content globally through a variety of platforms. Kinsane plans to launch over 8 new shows and 100 games featuring 30 new characters over the next 12 months. It added that its core target market currently is US, Europe, India, Brazil, and China. Going ahead, Kinsane said it will create a wide variety of videos and games featuring original characters and once characters are famous, the company will then propagate them further through non-digital channels such as film, television, concerts and merchandising. The company operates in India through its subsidiary, Kinsane Digital LLP. It has offices across Los Angeles, New York, and Mumbai.

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ToneTag secures fresh funding of Rs 8.5cr

Sound-based proximity payments company ToneTag has funding of Rs 8.5 crore from unknown investors, reports VCCircle. ToneTag’s software development kit (SDK) only requires a speaker and a microphone to work. It can utilize the in-built mic or speaker of any device to enable data transfer through sound waves and hence supports most existing devices such as PCs, POS, EDC devices and mobile phones including feature phones and wearables. The company has a partnership with YES Bank for sound-based proximity payments on their mobile wallet YES PAY. Note that ToneTag isn’t the only company working on sound-based payments. There’s iKaaz which is working on similar products in the contactless payments space. YES Bank also had a partnership with UltraCash for sound-based payments.

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Tapzo secures funding of Rs 12.32cr from existing investors

Personal assistant mobile app company Tapzo has secured funding of Rs 12.32 crore from its existing investors, reports VCCircle. Tapzo aggregates different apps in one place, across categories like cabs, food, recharge, bill payment, news, cricket, horoscopes etc, and allow users to use those apps via Tapzo, without having to download or update them separately. The company was founded in 2010 as Akosha, after which it renamed itself to Helpchat, and then again rebranded itself as Tapzo. The company had raised an undisclosed amount of funding from Singapore-based RB Investments in February last year.

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Moneytor gets funding from 500 startups and ISME ACE

Moneytor, a SaaS startup which helps lenders to automate the process of debt collection from defaulters, has raised an undisclosed amount of funding from 500 Startups, fintech accelerator ISME ACE and some angel investors. The startup essentially automates the recovery processes for lenders and collection agencies based on an AI-enabled decision-making engine for every step in the collection process- the course of action varies case-to-case.

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Writes about e-commerce, social media, tech and Internet ecosystem.

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