Here is a round up of three companies – Magzter, Zenify.in and SelfDrive.in which are planning to raise next round of funding for their growth and expansion.
Magzter Looks to Raise $30M in Series C Funding Round
Launched in 2011 by Vijay Radhakrishnan and Girish Ramdas, digital magazine newsstand Magzter is planning to raise $30 million in series C funding to expand operations. Initially started with $0.5 million, the company raised $3 million from Kalaari Capital in 2012 and $10 million in series B round of funding led by Singapore Press Holdings (SPH) and Kalaari Capital in 2014.
The company has 1.6 million unique paying customers and released around 7,800 magazines from over 3,200 publications around the world so far.
Zenify.in Plans to Raise $5M to Fund Expansion Plans
After raised Rs 4.15 crore in angel funding last year, residential rental management startup Zenify.in is now in the process of raising $5 million (about Rs 33 crore) to fund expansion plans. The raised funding will be used by the company to enhance its technology and analytic capabilities, along with entering new markets such as Mumbai and Delhi.
Zenify was founded in 2012 by Purohit, Ankur Agarwal and Kailash Rathi.
SelfDrive.in is in Process to Raise $6M in Next 6 Months
Pune-based online self-drive cab operator, SelfDrive.in is planning to raise $6 million from venture capitalists over the next six months to fund expansion into Delhi, Bengaluru and Hyderabad. Founded in 2005 by Soham Shah and his father Shashank Shah, the company claims to be largest in western parts of the country with 650 cars on hire, competes with rivals like Carzonrent and Zoomcars in the self-drvie space in the country.