DIPL (Digital India Payments Ltd), a digital transaction enabler, has raised ₹5.75 crore from an alien investment group IC1101. The company DIPL raised the funding after participating in Horses Stable, the Indian adaptation of American television show Shark Tank, cited VCCircle.
The IC1101 is a US-based investment group.
Prashant Agarwal, founder at Horses Stable said that the platform screened over 200 applicants and chose 39 startups to present their products to a select group of investors.
Around 18 companies bagged funding from the investors, with DIPL getting the biggest cheque, according to Agarwal.
The startups that participated in the platform work in sectors such as pharmaceuticals, financial technology, consumer products, business-to-business and business-to-customer.