Home startup funding

Here is a list of top funding deals that happened in Indian Startup Ecosystem this week. Check out the brief description about all of them.

Flipkart To Raise $1.5 Bn From eBay, Tencent at $11 Bn Valuation

A week ago, we reported how there were strong rumours in the Indian Startup market that the country’s biggest e-commerce company, Flipkart is on a mission to raise $1 billion in funding, and has already met several investors in this regard. And now comes the news, that the Bengaluru-based giant has reportedly been successful in raising the aimed $1billion in its latest funding round, which brought on board several celebrated names like tech giant Microsoft, popular American online auction site eBay and Chinese internet giant Tencent.

Advertisement

In our earlier report, we had also said that not only is the company aiming a $1billion funding round, but it is also hopeful of raking in a “double digits” valuation. And according to a TOI report, the latest financing-round values the firm at $11 billion post-investment.

Infoworks.io Raises $15M in Series B Round Led by Centerview Capital Technology

Infoworks.io Inc., the industry leader in enterprise data warehousing on Hadoop, announced that it has closed $15 million in a Series B financing. The company will use the financing to scale go-to- market and customer success programs to meet customer demand. Centerview Capital Technology led the round with participation by existing investor Nexus Venture Partners. Ned Hooper of Centerview Capital Technology joins Buno Pati, Naren Gupta and Amar Arsikere on the Infoworks board of directors.

LatestOne.com Raises $3.3M from Ashish Dhawan, Mathew Cyriac and Others

Hyderabad-based Palred Technologies Ltd (formerly Four Soft Limited) has raised about Rs 22 crore ($3.34 million) in its latest round from both new and existing investors. The new investors in the round include Mathew Cyriac, former co-head of Blackstone India Private Equity Business; Chidambaram Palaniappan, founder of Florintree Advisors; K. Madhavan, joint managing director of Star TV India; Bharat Sheth, managing director of Great Eastern Shipping. Existing investors Ashish Dhawan, founder of Chrys Capital and Passage to India Master Fund were also part of the new round.

Jasper Infotech Invests Rs 30 Cr in FreeCharge

Jasper Infotech, which owns and operates e-commerce platform Snapdeal, has put in an additional Rs 30 crore ($4.5 million) in its digital payments platform FreeCharge. As per media reports, Snapdeal has been reportedly in talks with some rival mobile payment companies such as PayPal, Paytm and PayU to sell FreeCharge, however, the company has denied about any such discussions.

POPxo Raises $2.7M from GREE Ventures, Others

POPxo.com, a digital publication targeted at young women, has raised $2.7 million in a Series B funding round led by Japanese venture capital firm GREE Ventures with participation from its existing investors Kalaari Capital and IDG Ventures India. The company will invest the fresh capital on product enhancement to build new features and different formats for news presentation on the platform.

Loyalty And Marketing Startup M.Paani Secures $1.35 M

Mumbai-based loyalty and marketing startup m.Paani has secured $1.35 Mn (about INR 9 Cr) in its Pre-Series A round of funding led by IDG Ventures, Blume Ventures, and SAHA Fund. The company plans to deploy the funds towards product development, sales, and marketing functions. Launched in 2014 by Akanksha Hazari, m.Paani is a marketing and data analytics startup that enables local retailers to attract customers with a mobile-based loyalty programme.

JanaJal Gets Commitment to Get Up to $5M Funding

Delhi-based hybrid drinking water dispenser maker JanaJal has received a commitment from US-based Tricolor Cleantech Capital to get up to $5 million funding. Tricolor Cleantech will invest up to $5 million over the next two-three years and it will help JanaJal to expand pan India.

Agriculture Machinery Renting Platform farMart Raises Funding from Indian Angel Network

Indian Angel Network (IAN), world’s largest business angel group, has made an undisclosed investment in Gurugram-based farMart, an agriculture machinery renting platform for the farmers and by the farmers. The investment was led by Ambarish Raghuvanshi on behalf of IAN and he has also joined the board of the company.

Agriculture plays a vital role in India’s economy. Over 58 per cent of the rural households depend on agriculture as their principal means of livelihood. Agriculture, along with fisheries and forestry, is one of the largest contributors to the Gross Domestic Product (GDP).

VR/AR Startup ShilpMIS Technologies Raises Funds Through the IvyCamp Platform

ShilpMIS Technologies Pvt Ltd has raised an undisclosed amount of funding via the IvyCamp platform from digital industry veteran and investor Mr. Puneet Gupta, Nimitt Desai, partner at Deloitte USA and other HNIs.
Founded by IIT Guwahati graduates, Hardik and Vivek, ShilpMIS is a fast growing VR/AR technology venture which aims to empower people to create, consume and spread VR / AR content seamlessly. It is the Instagram/PowerPoint of Virtual reality that helps users create and share amazing experiences.

Online Health and Wellness Venture, MyDermacy Raises Funding from Chinese VC Cyber Carrier, Others

A market leader and rapidly-growing platform for skin, hair and aesthetic wellness, MyDermacy, has raised a fresh round of undisclosed funding from Cyber Carrier, an India-focused Chinese venture capital fund as well as existing investors. The current round has been reportedly raised against fresh equity amounting to 15%-18%. This is a second round of funding having previously raised $150,000 from prominent angels including Promoters of Spectranet and Mr. Daljit Singh (President – Fortis Healthcare), besides others.

Apart from these top 10 funding deals, here are two companies which have also secured funding for their growth and expansion:

Borqs International Holding Corp, which operates Internet of Things (IoT) device developer Borqs, Inc., has raised an undisclosed amount in its Series E round of funding led by Qualcomm Ventures, weeks before the firm is set to undergo a reverse merger, it said in a statement.

TA Associates, a leading global growth private equity firm, has invested an undisclosed amount in Ideal Cures Pvt Ltd, a supplier of ready-to-use coating products and excipients for tablets and capsules to the pharmaceutical and allied industries, according to a statement.

Comments

comments

Get Daily Updates & Stories

Email address
Name