Startups
RedotPay Secures $40 Million Series A Funding to Accelerate Global Crypto Payment Solutions
RedotPay, a leading crypto payment platform, today announced the successful close of a $40 million Series A funding round led by Lightspeed following their commitment in December 2024, with significant investments from HSG and Galaxy Ventures. The round also saw participation from DST Global Partners, Accel, Vertex Ventures (Temasek-backed VC), among other investors.
Founded in April 2023, RedotPay quickly established itself as a pioneering alternative to traditional banking for the unbanked. With over 3 million registered users globally, the industry leading crypto card & payment platform’s rapid adoption underscores the growing demand for crypto-based payment solutions in everyday transactions.
RedotPay’s mission is to create a borderless payment ecosystem that seamlessly bridges fiat and cryptocurrencies. By integrating traditional digital payment technology with cryptocurrencies, RedotPay enables users to easily spend digital assets with the familiarity of conventional payment methods. The platform’s intuitive design and focus on practical crypto applications have been key market differentiators.
“Our team takes pride in empowering millions globally with financial access while bridging the gap between fiat and crypto,” said Michael Gao, co-founder and CEO of RedotPay. “As we scale our platform capabilities, we look forward to partnering with Lightspeed, HSG, Galaxy, and our other strategic investors to expand our reach and accelerate financial empowerment worldwide.”
The round’s success highlights investors’ alignment with RedotPay’s vision to integrate cryptocurrencies into everyday use. Lightspeed, a global multi-stage investor, leading payment and fintech-focused investor, led the funding round.
Pinn Lawjindakul, Partner at Lightspeed, commented, “We are thrilled to partner with Michael Gao and his team as they work to reshape the financial landscape. RedotPay’s platform is already revolutionizing financial access for millions who lack access to traditional banking. We are excited to support RedotPay as they continue to build a more inclusive financial ecosystem and redefine the way people interact with money.”
“Crypto payments are no longer a niche concept—they are becoming a fundamental part of the global financial infrastructure. RedotPay’s seamless integration of digital assets with everyday payments is a game-changer for millions of consumers globally. We’re excited to be a part of their journey,” said Will Nuelle, General Partner of Galaxy Ventures.
With this new funding, RedotPay plans to accelerate its product roadmap, enhance its payment ecosystem for a smoother user experience, reinforce regulatory compliance frameworks, and expand its licensing footprint across multiple jurisdictions.
“We don’t just build products. We solve real problems for our users. We stay engaged by listening, being transparent, and committed to improving their experience.” Michael Gao added, “The pace of adoption by crypto enthusiasts and those who’ve been left out by the traditional banking system shows that we are building something truly impactful.”
PwC Corporate Finance and Venture & Growth teams served as financial advisor to RedotPay for its Series A financing round.
About RedotPay
RedotPay is a leading crypto fintech bridging Web3 and traditional finance through innovative, cost-efficient blockchain solutions. Our intuitive crypto payment products enable millions of users globally to easily spend and send digital assets. We foster financial inclusion for the unbanked and serve crypto enthusiasts, advancing global adoption of fast, accessible crypto payments.
About Lightspeed
Lightspeed is a global multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise, Consumer, Health, and Fintech sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 500 companies globally including Aspire, Acceldata, Carta, Cato Networks, Darwinbox, Epic Games, Faire, Innovaccer, Guardant Health, Mulesoft, Navan, Netskope, Nutanix, Physics Wallah, Razorpay, Rubrik, Sharechat, Snap, OYO Rooms, Ultima Genomics, YouTrip, Zepto and more. Lightspeed and its global team currently manage $25B in AUM across the Lightspeed platform, with investment professionals and advisors in the U.S., Europe, India, Israel, and Southeast Asia. www.lsip.com
About HSG
HSG (HongShan Capital Group), formerly known as Sequoia China, is a leading venture capital and private equity firm investing globally in the technology, healthcare, and consumer sectors. With offices in Hong Kong, Shanghai, Beijing, Shenzhen, London, Tokyo, and Singapore, HSG manages over USD 55 billion in assets across various funds for top institutional investors.
Founded in 2005, HSG has nurtured entrepreneurship and innovation, backing more than 1,500 companies with transformative technologies, disruptive business models, and high-growth potential. To date, more than 160 HSG portfolio companies have listed on public stock exchanges, while over 140 private portfolio companies have reached unicorn status. www.hsgcap.com
About Galaxy
Galaxy (TSX: GLXY) is a digital asset and blockchain leader providing access to the growing digital economy. We serve a diversified client base, including institutions, startups, and qualified individuals. Since 2018, Galaxy is building a holistic financial platform spanning three complementary operating businesses: Global Markets, Asset Management, and Digital Infrastructure Solutions.
Our offerings include, amongst others, trading, lending, strategic advisory services, institutional-grade investment solutions, proprietary bitcoin mining and hosting services, network validator services, and the development of enterprise custodial technology. The company is headquartered in New York City, with global offices across North America, Europe, and Asia.
Additional information about Galaxy’s businesses and products is available on www.galaxy.com
Africa Startups
South Africa-Founded HealthTech Startup Healthleap Raises $38M to Expand AI-Powered Hospital Diagnostics Platform
from Sequoia Capital, First Round Capital and Hummingbird Ventures to expand its AI platform for detecting undiagnosed conditions in hospitalized patients.
Founded in South Africa in 2022 by siblings Josiah and Jemima Meyer, Healthleap develops software that continuously analyzes electronic health records (EHRs) to identify potential health risks during hospital stays. The platform reviews patient information daily, including clinical notes, laboratory results, vital signs, medical orders and problem lists, before flagging patients who may require further assessment.
The company works with healthcare institutions including Penn Medicine, Houston Methodist, Cedars-Sinai and Emory Healthcare. According to Healthleap, its technology screens more than 500,000 patients annually, while its hospital partner network has expanded from three to more than 50 over the past year.
Healthleap Secures $38M to Expand AI-Powered Clinical Screening
The $38 million in combined Seed and Series A financing will enable Healthleap to expand its clinical screening capabilities and accelerate the development of AI tools for identifying medical conditions that may otherwise go undetected during hospitalization.
The funding was backed by Sequoia Capital, First Round Capital and Hummingbird Ventures, although the company did not disclose the individual amounts raised in each round or its valuation.
Healthleap plans to use the investment to add more medical conditions to its platform and expand its engineering, sales, customer success and product teams. The company aims to support more healthcare providers by integrating automated risk identification into existing clinical workflows.
Josiah Meyer, Co-Founder and CEO of Healthleap, said the company was established to address conditions that remain undiagnosed when patients leave hospitals, potentially leading to more complicated and expensive treatment later. He emphasized that identifying these risks earlier could help healthcare teams intervene before patients experience further complications.
AI Platform Analyzes Electronic Health Records to Identify Missed Conditions
Healthleap’s platform uses artificial intelligence to analyze patient information already available in hospital electronic health records. Rather than relying exclusively on assessments conducted at admission, the system continuously evaluates clinical data throughout a patient’s hospital stay.
The technology processes information such as physician notes, laboratory tests, vital signs, medical orders and existing diagnoses to identify patients who may be at risk of specific conditions. It then integrates these findings into hospital workflows, helping clinicians determine which patients require additional attention or assessment.
The platform is designed to support healthcare professionals in identifying potential diagnostic gaps rather than independently establishing medical diagnoses. Healthleap states that its systems are HIPAA-compliant and SOC 2 certified, reflecting its focus on data security and regulatory requirements in healthcare environments.
The company’s initial development was influenced by Jemima Meyer’s experience as a clinical dietitian, where she observed patients whose medical conditions were identified later than they could have been. That experience contributed to the creation of a platform focused on identifying overlooked clinical risks through existing hospital data.
Healthleap Reports Improved Malnutrition Detection at Major US Hospitals
Healthleap initially focused on malnutrition, a condition that can be difficult to identify through conventional hospital screening methods. Many hospitals rely on a limited assessment conducted during admission, potentially overlooking patients who cannot respond accurately because of illness, sedation or confusion.
According to figures cited by the company, up to half of hospitalized patients may be at risk of malnutrition, while fewer than 9% receive a formal diagnosis. Healthleap also estimates that malnutrition costs the US healthcare system up to $58 billion annually.
The startup reports measurable outcomes from its hospital deployments. At Penn Medicine, patients flagged by its platform experienced hospital stays that were 1.6 days shorter, while Cedars-Sinai recorded a 39% increase in appropriate diagnoses. Healthleap also reported that one hospital site achieved more than $23 million in annualized return on investment.
Alfred Lin, Partner at Sequoia Capital, highlighted the platform’s reported clinical and financial impact, noting that one hospital recorded a 39% increase in malnutrition cases identified and treated. He also cited $11 million in incremental revenue generated within a single health system.
These figures reflect outcomes reported by Healthleap and its investors, rather than independently established results across all hospital deployments.
Expanding Beyond Malnutrition Into Additional Medical Conditions
Following its initial focus on malnutrition, Healthleap expanded its platform to identify patients at risk of delirium, a condition involving sudden changes in attention and mental awareness.
The company is now preparing to extend its screening capabilities to aspiration pneumonia, acute kidney injury (AKI), congestive heart failure (CHF) and pressure injuries. These conditions can require timely clinical intervention, making early risk identification an important component of hospital care.
According to Josiah Meyer, healthcare systems have also requested screening capabilities for approximately 40 additional conditions. The company plans to use its new funding to expand its clinical coverage while improving the platform’s ability to analyze patient information and support care teams.
By applying its existing AI infrastructure to additional conditions, Healthleap aims to broaden its role within hospital operations and help clinicians identify potential risks across a wider range of medical specialties.
Healthleap Expands Hospital Network and Clinical AI Operations
Healthleap’s expansion reflects growing interest among healthcare providers in AI systems that can analyze clinical records and identify patients who may benefit from additional assessment.
Over the past year, the company has increased its hospital partner network from three to more than 50, while its technology now screens over half a million patients annually. Its collaborations with institutions including Penn Medicine, Houston Methodist, Cedars-Sinai and Emory Healthcare provide opportunities to deploy and evaluate the platform within established hospital systems.
With $38 million in new financing, Healthleap intends to expand its workforce, develop screening capabilities for additional conditions and strengthen its relationships with healthcare providers.
The company will continue focusing on AI-assisted clinical risk identification, aiming to help hospitals detect potentially overlooked conditions earlier while supporting more efficient patient care and hospital operations.
Euro Startups
France-based AI Startup Verso Raises $6M Seed Funding to Expand Consumer Intelligence Platform Globally
led by Angular Ventures to expand internationally, integrate new consumer data sources and develop AI agent capabilities.
Co-founded by Lydia Bellahouel and Camille Epitalon, Verso develops an AI-powered consumer intelligence platform designed to help businesses access and apply customer insights throughout their decision-making processes. Its technology automates consumer research, from study design and participant recruitment to interviews, analysis and knowledge management.
The funding will support Verso’s expansion beyond France, including into the United States, alongside further development of its platform. The company also plans to integrate additional consumer data sources, introduce access for AI agents and expand its engineering and go-to-market teams.
Verso currently serves more than 30 companies, including Ferrero, Orange and Michelin, as businesses increasingly seek faster and more accessible consumer research to support product development, marketing and strategic decisions.
Verso Secures $6M Seed Funding Led by Angular Ventures
The $6 million investment will support Verso’s next phase of growth as it expands its consumer intelligence technology and enters international markets.
Angular Ventures led the seed round, joined by 100in, Kima Ventures, Olympe Capital, Sharpstone Capital and a group of angel investors. Verso also receives backing from Hexa, a startup studio focused on developing technology companies.
The company intends to use the capital to strengthen its platform’s data integration capabilities, develop interfaces that allow AI agents to access consumer intelligence and recruit additional employees across technical and commercial functions.
International expansion is another priority, with Verso targeting markets outside France, particularly the United States. The startup aims to make its research platform available to more businesses seeking to incorporate consumer insights into everyday operations.
Verso Uses AI to Automate Consumer Research and Analysis
Traditional consumer research often requires businesses to commission studies, recruit participants, conduct interviews and manually analyze findings. These processes can involve significant costs and lengthy timelines, while the resulting insights may remain within dedicated research departments rather than being shared across an organization.
Verso addresses these challenges by managing the research process through a single AI-powered platform. Its technology supports study design, participant recruitment, AI-moderated video interviews and automated analysis, allowing companies to collect and interpret consumer feedback more efficiently.
The platform’s AI interviews adapt in real time based on participants’ responses, enabling businesses to explore consumer opinions and experiences in greater depth. Findings from thousands of hours of conversations are then synthesized and organized into a searchable knowledge base.
Instead of producing isolated research reports, Verso maintains consumer personas that are continuously enriched as new studies are conducted. This allows teams to compare different consumer segments, monitor changes in attitudes and revisit previous findings when new business questions arise.
According to the company, its platform delivers consumer insights approximately ten times faster and at one-quarter of the cost of traditional research agencies, while enabling businesses to engage with around 15 times more consumers. These performance figures are company-reported.
Making Consumer Intelligence Accessible Across Business Teams
Verso was established to address the gap between consumer research and business decision-making. Although large organizations invest heavily in understanding customer behavior, research findings are not always available to the teams responsible for product development, marketing and commercial strategy.
Lydia Bellahouel, Co-Founder of Verso, said her experience at Boston Consulting Group (BCG) highlighted the financial consequences of businesses making decisions without timely access to consumer insights.
She explained that the company’s objective is to create a centralized consumer knowledge layer that allows business teams to access relevant information when making decisions, rather than relying on separate research projects or static reports.
By organizing research findings into a continuously updated knowledge base, Verso aims to make consumer intelligence accessible across different departments. Teams can query existing information, examine consumer preferences and compare audience segments without commissioning an entirely new study for every question.
The platform is already used by more than 30 companies, including Ferrero, Orange and Michelin, demonstrating its adoption among established businesses across different industries.
Expanding Data Integrations and AI Agent Capabilities
While qualitative video interviews currently form the foundation of Verso’s platform, the company is developing additional capabilities to incorporate a broader range of consumer information.
Planned integrations include quantitative research data, social listening and other sources that can provide a more comprehensive understanding of consumer behavior. By combining these datasets, Verso intends to create a unified intelligence platform that supports both detailed qualitative analysis and broader market insights.
The startup is also developing interfaces that will allow AI agents to access its consumer knowledge base and perform initial analysis within existing business workflows. This would enable organizations to incorporate consumer intelligence into AI-assisted processes without requiring employees to access a separate research platform for every task.
These developments form part of Verso’s broader strategy to move beyond individual research studies and establish a continuously updated source of consumer knowledge that can support business decisions across multiple functions.
Verso Targets US Expansion and Further Platform Development
With its new seed funding, Verso plans to accelerate international expansion while strengthening the technology behind its consumer intelligence platform.
The company will focus on developing new data integrations, improving access for AI agents and expanding its workforce across engineering and go-to-market operations. Its planned entry into the US market represents a significant step in extending its services beyond its existing French customer base.
As businesses increasingly adopt AI-powered tools for research and decision-making, Verso aims to position its platform as a central source of consumer intelligence that can be accessed by both employees and automated systems.
By combining AI-moderated research, continuously updated consumer personas and broader data integration capabilities, the startup seeks to help organizations incorporate customer insights more consistently into product, marketing and strategic decisions.
Asia Startups
India-Based EdTech Startup Mesa School of Business Raises $12.7M Series A to Expand AI-Powered Education and Startup Partnerships
co-led by Dharana Capital and Elevation Capital to integrate AI into its curriculum, launch new programmes and strengthen partnerships with startups.
The investment values Mesa at ₹385 crore following the round. The company plans to use the capital to integrate artificial intelligence into its educational programmes, introduce new courses, expand its leadership team and strengthen relationships with startups to provide students with practical industry experience.
Founded in 2023 by Ankit Agarwal and Varun Limaye, Mesa School of Business focuses on entrepreneurship, startup leadership and applied business education. The Bengaluru-based institution currently serves more than 550 students across three full-time programmes designed to prepare graduates for careers in startups and technology-driven businesses.
Mesa School of Business Secures $12.7M Series A Funding
The ₹110 crore financing round combines equity investment from Dharana Capital and Elevation Capital with venture debt from InnoVen Capital and Alteria Capital.
Of the total amount, ₹85 crore was raised through equity financing, while the remaining ₹25 crore was secured as venture debt. The investment brings Mesa’s post-money valuation to ₹385 crore.
The institution is also backed by several Indian startup founders, including CRED founder Kunal Shah, Meesho co-founder Vidit Aatrey, Urban Company co-founder Abhiraj Bhal and Paytm founder Vijay Shekhar Sharma.
The new capital will support Mesa’s next stage of growth as it expands its educational offerings and strengthens its position in India’s entrepreneurship-focused education market.
Expanding AI-Powered Learning and New Business Programmes
Mesa plans to integrate artificial intelligence more extensively into its existing curriculum, with a focus on preparing students to use AI tools in business operations, product development and startup creation.
The institution intends to help students develop practical capabilities in building and launching technology products using AI, reflecting changing skill requirements across startups and digital businesses.
Alongside AI integration, Mesa will introduce additional educational programmes to address emerging industry needs. The company also plans to strengthen its leadership team and expand partnerships with startups to provide students with hands-on projects and professional exposure.
Its educational approach combines classroom learning with practical business experience, aiming to prepare graduates for roles that require entrepreneurial thinking, operational skills and familiarity with technology-driven organizations.
Mesa Expands to More Than 550 Students Across Three Programmes
Mesa School of Business currently offers three full-time programmes: a one-year Post Graduate Programme in Startup Leadership, a four-year undergraduate programme in business and entrepreneurship, and Forge, a one-year programme designed for graduates.
Since launching its initial postgraduate cohort, the institution has expanded to more than 550 students across these programmes.
The courses focus on developing skills relevant to startup and business leadership positions, including product management, partnerships, account management and founders’ office roles.
According to Mesa, its first three postgraduate cohorts have produced approximately 300 alumni who have joined more than 120 startups.
The institution has also incubated more than 50 student-founded startups, which have collectively reported approximately ₹50 crore in annual revenue.
These figures reflect Mesa’s emphasis on connecting education with startup employment and entrepreneurship opportunities.
Mesa Reports 2.5x Business Growth as It Approaches Operational Breakeven
Mesa has reported business growth of approximately 2.5 times over the past two years, according to Co-Founder Ankit Agarwal.
The institution has expanded its student base and programme portfolio while developing relationships with startups that provide employment opportunities, industry projects and entrepreneurial support.
Despite this growth, Mesa has not yet reached overall profitability. The company reports that most of its programmes are approaching operational breakeven, indicating progress toward covering their direct operating costs.
The latest funding is expected to support further expansion while allowing Mesa to invest in curriculum development, faculty and leadership capabilities, and partnerships with the startup ecosystem.
Maintaining programme quality and improving operating economics will remain important as the institution increases enrolment and introduces additional educational offerings.
Mesa Targets Further Growth in India’s Startup Education Market
With $12.7 million in Series A financing, Mesa School of Business plans to expand its AI-focused learning capabilities and develop new programmes tailored to the evolving needs of startups and technology companies.
The institution will also focus on strengthening its leadership team and building deeper relationships with startup founders and businesses to provide students with practical learning opportunities.
Its growth strategy combines entrepreneurship education, industry partnerships and AI-enabled learning, with the aim of preparing graduates for emerging business and technology roles.
As Mesa continues expanding its programmes and student base, the company will seek to improve programme-level economics while maintaining its focus on applied business education and startup career development
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