Private Equity PE-VC Fund Investments
Digital payments co. ToneTag raises $5-M from Qualcomm Ventures
Source ToneTag (opens in a new tab)Business Standard (opens in a new tab)
Bengaluru-based digital payments firm ToneTag has raised USD 5 million from Qualcomm Ventures.Founded by Vivek Singh and Kumar Abhishek, ToneTag develops technology that enables everyday devices to function as conversational and payment-capable ecosystems. The company plans to use the new funds to deploy edge AI-powered, payment-capable modules, which were designed and engineered in India, across global markets.
Company website ↗ (opens in a new tab)
Between Aug-15 and Feb-25, ToneTag had attracted over USD 85 M from Elevate Innovation Partners, Iron Pillar, ValueQuest, 3ONE4 Capital, Elevate Innovation Partners, Reliance Venture and Others.For FY24, ToneTag had reported about INR 48 Cr in Operating Income and about INR 21 Cr in PAT.