Loco stated this deal will enable the startup to expand to multiple new global markets within the next 12 markets.
Sandberg was part of a $7-million funding round led by Accel, an existing investor in Simplismart
Founders of top new age brands at the Moneycontrol Startup Conclave noted that while online presence is crucial for discovery and initial engagement, the physical experience is essential for building trust and scaling in certain categories.
The startup ecosystem has long complained that the angel tax regime, which was originally started in 2012 as an anti-abuse measure to prevent money laundering, actually drove away smaller investors who couldn't afford the compliance burden.
Marking the inaugural of the Startup Exclusive Branch, the city-headquartered bank launched 'IOB Startup Current Account' and credit scheme 'IOB Pragati' for financing startups.
With this alliance, Meradoc's digital-health platform and its services will now become available 24x7 on a real-time basis to MakeMyTrip customers across India, the company said in a statement.
This comes hours after the company issued a swift denial following reports, saying that it has not received any notice from the Enforcement Directorate.
Funds raised will be used for research and development, including artificial intelligence (AI), and to significantly scale the company's SaaS offerings, especially in niche financial crime areas.