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.
Aryaka, the leading global SD-WAN provider, has raised a $45 million Series D round of financing. The investment, led by Third Point Ventures, adding new investor Deutsche Telekom Capital Partners (DTCP), and with participation from existing investors, represents a powerful validation of Aryaka’s global SD-WAN platform and marks the first investment in global SD-WAN technology by a major telecommunications company. The new funding round will help Aryaka aggressively expand its global reach.
The Aavishkaar–Intellecap Group, a pioneer in impact investing and an instrumental entity of the impact investing ecosystem globally, today announced raising an equity round of $25 million led by Triodos Investment Management, the investment arm of European lender Triodos Bank, and Shell Foundation, an independent charity established by the Shell Group. Triodos has invested $15 million while Shell has contributed $10 million of the total capital raised. The investment will be infused in the parent company and will enable the group to consolidate and expand its bouquet of ecosystem building initiatives/businesses across the globe.
Pune-based Marvel Realtors has raised about Rs 150 crore ($22 million) in a structured deal from Piramal Fund Management, the realty arm of Piramal Enterprises, to build residential projects. Marvel will use the proceeds to build a residential project.
Muthoot Microfin Ltd, subsidiary of diversified financial services company Muthoot Pappachan Group, has raised Rs 130 crore (around $20 million) of growth capital from Creation Investments Llc. The growth capital raised will be utilised to serve below the poverty line customers and to expand business to newer geographies such as Bihar, Uttar Pradesh, Odisha, Chhattisgarh, Haryana & Punjab, the company said.
Bangalore-based Cuemath, an after-school maths learning startup has raised $15 million (around Rs 102 crore) in its Series B round of funding from CapitalG and Sequoia India. CapitalG (formerly known as Google Capital), the growth equity investment fund of Alphabet (Google’s parent company), led this round of funding.
Cuemath is an after-school math excellence programme for children in KG to grade 8 and is offered through home-based centres. Founded in 2013, it has over 2,000 centers educating more than 10,000 students in Delhi-NCR, Bangalore, Mumbai, Chennai, Pune, Hyderabad and Ahmedabad.
NowFloats, a discovery platform which helps businesses get online and find more customers using proprietary auto-SEO technology, has closed a Series B funding of $10 Million via Iron Pillar and IIFL (Seed Ventures Fund I & Cash Opportunities Fund), along with Blume Ventures & Omidyar Network, who had invested in Series A as well. The company plans to invest this capital primarily on Customer Support & Engagement and on increasing the value proposition of the technology provided to SMEs.
Bennett, Coleman and Company Ltd (BCCL), the publisher of The Times of India, is investing Rs 60 crore ($8.8 million) in Ahmedabad-based e-tailer Infibeam Corporation Ltd in exchange for equity, stock-exchange filings dated 24 January show. BCCL is buying the Infibeam stock at Rs 1,375 apiece, a premium over the Rs 1,160.15 it was trading at on 23 January.
RML AgTech, a technology company providing ‘Agri Decision Support Solution’ on mobile phones to farmers, has raised $4 million from IvyCap Ventures, a private equity firm. The funds will be utilized to strengthen RML AgTech’s IT backbone and to bring in new products and features on its current offerings. The funds were raised in multiple tranches from IvyCap Ventures in 2016.
Last-mile logistics provider LetsTransport gets Rs 27 crore in a Series-A round of funding led by Japan’s payment gateway company GMO and Neelesh Bhatnagar, former CEO of Landmark Arabia.
The company, started in 2015, had previously raised a seed round of Rs. 8 crore from Singapore-based Rebright Partners and others in August 2015.
The Airmed Pathology Labs, a first-of-its-kind healthcare home test service startup, has raised pre series funding round led by Bennet, Coleman and Co. Ltd.’s (BCCL) investment arm Brand Capital. The investment will be infused to expand the company across the country and brand marketing to acquire customers.
On the capital raising, Dr Amit Gupta, Cofounder, Airmed Path Labs says, “We will be deploying these funds to increase brand salience and brand awareness to widen our customer base and enter new markets. By next month, we will be in Delhi, Gurgaon and the rest of Gujarat. By March 2018, we will add over 100 labs.”
Apart from these top 10 funding deals, here are a few startups which have also secured funding for their growth and expansion:
Mobile-based social networking platform for sports, Khel Now has received $500K in funding from Thailand-based Indochine International Co. Ltd.
Japanese investment firm Dream Incubator Inc. has made its first investment in India by injecting an undisclosed amount in Udupi-based gaming startup 99Games.
On-demand hyperlocal services provider, 99PerHour has secured Seed funding of $300K from a US-based angel investor, V Aanand R.
E-governance solutions provider ABM Knowledgeware ltd has approved a strategic investment in Bangalore-based security solutions provider InstaSafe Technologies Pvt. Ltd as it looks to add tech products to its portfolio.
Software-as-a-Service platform Loyalty Prime has secured an undisclosed amount in Series A funding from a consortium of investors comprising Senovo, Unternehmertum Venture Capital (UVC) and angel investor Alexander Bruehl.
Sandeep Aggarwal, Founder – ShopClues & droom, invested in Dekoruma.com – an Indonesian furniture and home décor marketplace. Prior to Dekoruma.com, Sandeep has made at least 3 more investments in International start-ups based out of Silicon Valley and SE Asia.
Online entertainment ticketing brand BookMyShow has acquired online ticketing platform Masti Tickets for an undisclosed amount in an all cash deal.
Bangalore-based scrap collection and recycling startup EnCashea has signed an all-cash deal to sell its technology and customer base to Hasiru Dala Innovations, a non-profit organisation for waste pickers and other informal waste workers.
Betaout Inc, a customer intelligence and marketing automation platform for e-commerce companies, has raised an undisclosed amount of funding from East Ventures and other South East Asia-based angel investors.
Michael & Susan Dell Foundation backed India Educational Investment Fund (IEIF), an early stage impact investment fund focused on the education sector, has invested in two startups – Chippersage and Select Jobs.
Random Motion Advertising which runs crowdfunding platform WishBerry.in today announced raising an undisclosed amount in Pre-Series A funding from a clutch of investors led by iSPIRT co-founder Sharad Sharma.
IoT-based security services provider, SmarterHi Communications has secured an undisclosed amount of funding from a Singapore-based investor for a minority stake.
IoT-based border security solutions provider CRON Systems has secured an undisclosed amount in its Pre-Series A round of funding from early stage VC firm, YourNest.