Careongo raises $300,000; IAN invests in UK-based Ascema

Careongo will use the funding to increase the number of co-branded stores to over 150 stores


Careongo Technology Pvt Ltd, an app-based pharmacy aggregator, on Thursday said it had raised $300,000 in a seed round of funding from a group of investors led by Farooq Oomerbhoy, who was the co-founder of early stage venture capital fund Orios Venture Partners. Raj Mishra of Indea Capital and Vineet Ganesh of Imperial India Investment also participated in the round. The funding will be used to increase the number of co-branded stores to over 150 stores.

Indian Angel Network (IAN) on Thursday said it has made an investment in UK-based Ascema (Geolang Holdings Ltd), which provides technology solutions for locating, securing and controlling the movement of sensitive data and intellectual property within cloud collaboration environments and email systems. The size of the investment wasn’t disclosed. Nitin Jain and Nitin Singhal have led this round of investment on behalf of IAN and joined the board of the company. The fund will be used for expansion of sales resources.