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.
Apple Inc confirmed on Wednesday its plans to invest $1 billion in a tech fund being set up by Japan’s SoftBank Group Corp.
SoftBank has said it is investing at least $25 billion in the fund and has been in talks with Saudi Arabia’s Public Investment Fund for an investment that could be as much as $45 billion.
Home-grown private equity (PE) major Everstone Group has invested $35 million (approximately Rs232 crore) in Mumbai-based nutraceutical ingredient player OmniActive Health Technologies Ltd for a significant minority stake. The investment will help OmniActive in diversifying and expanding its offerings as well as in its inorganic growth strategy.
LEAP INDIA, a Mumbai-based supply chain solutions provider has raised about $13 Mn Series B funding from IndiaNivesh Growth Fund, Sixth Sense and TCI Ventures. Existing investors, venture capital firm Mayfield Fund and Rishabh Mariwala, who manages Sharp Ventures—the family office of Marico founder and chairperson Harsh Mariwala—also participated in the round. The company will use the funds to hire more professionals and develop its asset-pooling service.
Cloud services firm Zoho Corp has invested nearly $10 Mn in 5 startups. Zentron Labs Pvt. Ltd. (previously funded by Zoho in 2014) and VTitan, a medical device maker are 2 of the chosen investments.. The names of the remaining three startups are undisclosed. The company has invested in these startups to help the founders during their research and development phase.
TempoGO, an IoT and SaaS solution for commercial transportation, has raised $825,000 in seed funding led by K2 Capital of Hong Kong.
Over the last 12 months, the TempoGO solution has been proven on 1,800+ inter-city trips in India covering 650,000+ kilometres, for 300+ clients including Bisleri, Blue Dart, Oyo Rooms and Havells.
Pune-based Taxsutra Services Pvt Ltd, which owns and operates tax information portal TaxSutra, has raised Rs 2.5 crore in its third round of funding from existing investors V Balakrishnan and T V Mohandas Pai, former board members and CFOs of Infosys. Former tax head at IT firm Wipro Ltd P V Srinivasan also participated in this round of funding.
Founded in January 2011 by media professionals – Arun Giri, Ameya Kunte and Arun Anant, Taxsutra runs online subscription-based portals on direct tax, indirect tax, transfer pricing (TP) and corporate laws. It also provides real-time updates on developments and litigations from the Income Tax department, the CBDT and Finance Ministry. Its target audience mainly includes tax professionals, directors and policymakers.
MobiDent, a Bangalore based dental care company that provides inexpensive dental care by dentists at home has raised a round of Pre Series A funding from New York based DanGold Investment Corp. The funds will be utilised towards rolling out home dental services in 12 new markets that include metros and mini metros. With the current round, MobiDent will hire 250 dentists and invest in strengthening digital technology, marketing & sales.
Edtech startup Learntron has raised an undisclosed amount of funding in its Pre-Series A round from Mumbai-based Kae Capital. Learntron, with tech operations in Chennai, and sales operations in Mumbai was launched in 2016 by serial entrepreneurs Subbu and Kuljit. The startup caters to the learning needs of both educational institutions and enterprises.
Fynd, the fashion e-commerce portal, has clinched an undisclosed amount of funding from Snapdeal’sformer Chief Product Officer, Anand Chandrasekaran. Rajiv Mehta, Chief Executive Officer of Arvind SportsLifestyleLtd., and Ramakant Sharma, Ex- VP Engg. Myntra and Co-Founder of Livspace have also participated in the round. By joining hands with industry doyens at this key juncture of its evolution, Fynd aims to leverage their expertise and bolster its market leadership position as India’s first and largest online to offline e-commerce fashion marketplace.
Gurgaon-based GreyHair Ventures Pvt Ltd, which runs car servicing and repair startup VOW CarClinic, has raised an undisclosed amount of angel funding. In the last four months, they have scaled up their operations to 4 more cities in NCR (Delhi, Noida, Ghaziabad and Faridabad) and have witnessed 10x fold increase in their revenues. Currently they are clocking revenue run-rate of INR 15 lacs per month and are now planning to expand their operations in other major cities including Mumbai, Pune, Bangalore, Hyderabad and Chennai. The team is in talks with few top VCs to close pre Series-A round to fund their expansion plans.
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