Asset financing startup ORIGA raises Rs 7 crore

Innovative asset financing startup ORIGA Leasing has raised Rs 7 crore from 500 Startups, ah! Ventures and other investors including Ulhas Deshpande, cofounder of Adventity, and Nitesh Damani of Sugal & Damani Group. "The funds will be used for leasing of assets, people and technology," said ORIGA Leasing founder Shrirang Tambe. He said the company expects to grow its asset book for domes tic market to $100 million (about Rs 65 crore) within the next three- four years, from $1.5 million a present. By March 31, 2016 the company expects to have an as set book of $4 million, he said.

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