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.
Hyderabad-based pharmaceutical company Shilpa Medicare LTD has raised Rs 172.425 crore ($25.5 million) from US-based private equity investor TA Associates Management Lp. TA Associates’ director Naresh Patwari will join the company’s board as an additional director, the firm said.
Hyperlocal logistics startup Shadowfax Technologies Pvt. Ltd has raised $10 million (Rs 68 crore) in Series B funding led by existing investor Eight Roads Ventures, an investment arm of Fidelity International Ltd. The investment will help Shadowfax build its network, consolidate its market position and stabilise performance in existing cities, Eight Roads said in a statement.
Bengaluru-based ecommerce startup 10i Commerce Services has raised $5 million in funding from Infosys co-founder Nandan Nilekani. With the latest investment, the former chairman of the Unique Identification Authority of India (UIDAI) has so far invested about $10 million in 10i Commerce in several tranches.
Dekkho, a new-age streaming platform, has raised $1.2 million from seven marquee angel investors in one of the largest seed funding rounds in India. The company offers a viewing experience that is uncluttered and curated, has high-quality content sourced from leading content providers from India and abroad, consumes less internet bandwidth, offline viewing facility, offers exclusive access to new content, and – above all – is free. Established in March 2016, Dekkho is the brainchild of Tanay Desai and Vinay Pillai.
Bengaluru-based health/fitness app, HealthifyMe today hit 1 million downloads on Google PlayStore. With a rating of 4.3/5, HealthifyMe is ahead of all the other apps in this space. Adding to this success, the app has also received an additional $1 million (INR 6.7 crores) in funding from Dubai based investor Neelesh Bhatnagar whose company NB Ventures has been actively investing in Indian startups.
Delhi-based digital payments and financial services company InstantPay has raised Pre-Series A funding from Singapore-based investors RB Investments and Kaleden Holdings. The funding, which is part of a pre series A round, will be used for the development of new products and geographical expansion across the country. A part of the funding will be used to build the brand and for marketing.
Omnichannel book renting platform, JustBooks has raised an undisclosed amount of funding from investment firm CoCreate Ventures that has set up a Rs 15 crore ($2.2 million) fund to help startups pivot or turn around.
JustBooks plans to deploy the raised funds towards revamping its digital presence, developing its technology for better customer management and loyalty programmes, and bringing more human resources to manage the brand and introduce new categories in books.
BookEventZ, an online Event-Booking platform, raises an undisclosed amount in a successful Pre-Series A round from Lead Angels, Mumbai Angels and Letsventure. Existing investors also participated in this round. Key investors of this round include Girish Mathrubootham (Co-Founder Freshdesk), Anbu Pandian (CEO PanZeea Solutions) and Ishan Singh (Director Recapital Ventures) who led previous angel round as well.
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