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.
FreeCharge Raises $200M in Funding from PayPal
Global payments platform PayPal Holdings Inc. is in the final stages of closing a deal to take a significant minority stake in domestic digital payments platform Freecharge.
The deal could see the sale of a 25% stake for around $200 million.
Altico Capital India Pvt. Ltd, the non-banking financial company of Asia-focused investor Clearwater Capital Partners Llc, on Friday said it has closed a deal worth around Rs 700 crore ($103 million) with Vatika Group in Gurgaon. “The first tranche of Rs 475 crores invested in a portfolio of projects with current potential of 3 million sft located in their flagship residential township ‘Vatika India Next’,” the investment firm said in a release.
Mumbai-based venture capital firm Lightbox India Advisors Pvt Ltd has raised $54 million as an extension of its second fund of $100 million, which it had closed in late 2014. “Our Fund 2 was $100 million, we have added another $54 million as part of Lightbox Expansion Fund,” Sandeep Murthy, Partner, Lightbox said. “This is incremental capital that we will be pooling together with uninvested capital from Fund 2. This gives us a total of $100 million to invest in a total of 8-10 companies,” he added.
Enterprise technology-focused venture capital firm Exfinity Venture Partners has closed its second fund at Rs300 crore from a clutch of family offices, industrial houses and high net-worth individuals, including Rakesh Jhunjhunwala, India’s best-known stock market investor.
The fund, called Exfinity Technology Fund-Series II, will be invested in artificial intelligence, cloud computing, big data analytics, cyber technology, Internet of things and mobile technology start-ups over a span of seven years, said Shailesh Ghorpade, managing partner and chief information officer at Exfinity Venture Partners.
Mumbai-based pharmaceutical company ZCL Chemicals Ltd has raised Rs 170 crore ($25 million) from a fund managed by Morgan Stanley Private Equity Asia (MSPEA). The company, which manufactures and exports advanced drug intermediates and active pharma ingredients (API), will use the money for its growth plans.
IFMR Capital, a leader in providing access to capital markets to financial institutions serving excluded individuals and businesses, is raising $50 million from Standard Chartered Private Equity (SCPE), with the first tranche of $17 million already completed. This is close on the heels of IFMR Capital’s second institutional funding of $25 million raised from Eight Road Ventures in November, 2016.
As an extension to the Series B funding, Bangalore based NoBroker.com has raised $7 million (Rs. 50 crores). This extension round is led by Korean investor KTB Network. This is the extension of $10 million Series-B round announced few months back this year, taking cumulative Series-B round to $17 million. With $3 million in Series-A funding early last year, this takes the total funding raised by NoBroker.com to $20 million from its inception.
Seamovation Labs Pvt Ltd, a Bengaluru-based startup which provides cloud-based CRM product enKast has raised $2 Mn in Pre-Series A round of funding. The investment was led by Manish Maheshwari, CEO of Network 18 Digital and former vice president and head of the seller business at Flipkart.
Bangalore based, Online to Offline (O2O) marketing platform, The BlueBook has raised a $500,000 seed round lead by India’s first and World’s largest angel investor network; Indian Angel Network with investors from around the world. Other participants included Let’s Venture, a fund raising platform and angel investors from Singapore and United States. Srinubabu Gedela ( CEO, OMICS International), Avinash Vashistha (IAN member, Founder, Tholons Capital, Ex- Chairman & Country Managing Director, Accenture), Rajiv Mehta (IAN member, CEO, Arvind Lifestyle) led the round for the angel investor group. Avinash Vashishta and Srinubabu Gedela will join the board of the company.
IFC, a member of the World Bank Group, announced its investment in BYJU’s, India’s largest ed-tech company today. This partnership will enable BYJU’s to further their plans to make quality education accessible for students across the nation as well as in international markets.
Apart from these top 10 funding deals, here are a few startups which have also secured funding for their growth and expansion:
ShopKirana, a startup connecting brands and traditional retailers, has secured an undisclosed amount of funding from Japanese seed-stage investors, Incubate Fund.
MyAdvo, legal-tech concierge that helps its clients connect to lawyers for their legal needs, has raised an undisclosed amount of angel funding led by Pradyumna Dalmia (Calcutta Angels Network), S. Somasegar and other investors through LetsVenture.
Ajay Relan, co-founder and former managing partner of CX Partners, has invested in Delhi-based compliance management software startup LexComply.
Chennai-based product startup The Postbox has received an undisclosed amount of funding from multiple investors, including those from The Chennai Angels.
Germany and India based DaaS (Data as a Service) startup, Innoplexus has secured an undisclosed amount in its Pre-Series A round of funding from HCS, a Germany-based Venture Capital Fund.
Process management startup AsoCon Outsourcing India Pvt. Ltd. has raised an undisclosed amount of seed investment from early stage investment firm Quarizon.
Ecommerce-based personal care startup, MCaffeine has secured $300K (INR 2 Cr) in angel investment from Harminder Sahni, Kaushal Aggarwal, Krishna Mehra, Pranay Jivrajka, and Navjot Singh Saini.
Subscription-based micro delivery startup SuprDaily has secured an undisclosed amount in Seed funding from investment platform Venture Catalysts. Dr. Apoorv Ranjan Sharma, Anil Jain, Anuj Golecha, Krishna Jhunjhunwal, and Anirudh Damani led the investment round.
Hyderabad-based Vave Infosolutions India Pvt. Ltd, which runs motorcycle-sharing startup Getbike, has raised $100,000 (around Rs 68 lakh) in angel funding from a group of investors.
Chennai-based E-Vegetailing Pvt Ltd, which sells fresh vegetables procured directly from farmers, has raised Rs 1.1 crore ($162,000) from The Chennai Angels.
Early-stage investment fund Kae Capital has invested an undisclosed amount in Timla Foods, makers of ready-to-eat popcorn sold under the brand “PopiCorn.”
Online platform for career counselling MINDLER has raised Rs 2.2 crore ($324,000) from two of its existing investors.
Bengaluru-based self-drive car rental venture Zoomcar has raised an undisclosed amount of funding from China-based Cyber Carrier CL. This is an additional fundraise following its $25 Mn Series B round of funding in August 2016.
Mamaearth, a babycare products startup, which sells its products only through Amazon India and FirstCry.com has raised an undisclosed amount in seed round of funding led by Fireside Ventures and some HNIs.
Kolkata-based healthtech startup, Tiyo, run by Labsense Technology Services, has raised an undisclosed amount in its Seed round of funding led by Middle East-based existing investor, Ajith Nair, CEO IAdepto Global.
Online jewellery marketplace VivoCarat.com has raised $50,000 (Rs 33.8 lakh) in seed funding from a group of individual investors.
Private equity (PE) firm Kedaara Capital Advisors Llp has agreed to invest Rs430 crore in Hyderabad-based diagnostics chain Vijaya Diagnostic Centre Pvt. Ltd.
Innoplexus, a Germany and India based DaaS (Data as a Service) startup has announced the closing of their Pre-Series A funding from HCS, a Germany-based Venture Capital Fund. With the capital raised, Innoplexus plans to file more patent applications, further develop their trademark platform, iPlexus, and invest in marketing.
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