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.
Bengaluru-based cab-hailing firm Olacabs, run by ANI Technologies Pvt. Ltd, has raised $330 million (Rs 2,200 crore) in fresh funding led by existing investor SoftBank Group Corp, a media report said on Monday. Japanese tech giant and two other existing investors participated in the round, but the cab aggregator’s valuation dropped 30% from $5 billion to $3.5 billion.
Branded budget hotels marketplace OYO Rooms, run by Oravel Stays Pvt. Ltd, is in talks to raise $300-500 million (Rs 2,000-3,335 crore) from SoftBank Vision Fund, in what will possibly be one of the biggest deals in India’s consumer internet space, media reports said on Monday. If the deal goes through, OYO will become the latest entrant to India’s unicorn club, valued at $1.2 billion (Rs 8,000 crore). A back-of-the-envelope calculation suggests that the hotel aggregator is currently valued just over $500 million.
Paytm E-Commerce Pvt. Ltd, the online marketplace arm of One97 Communications Ltd, is raising $200 million (Rs 1,334 crore) in a funding round led by Alibaba Singapore E-Commerce Pvt. Ltd, a wholly-owned subsidiary of Chinese internet giant Alibaba Group Holding Ltd, a financial daily reported on Thursday. Alibaba will invest $177 million (Rs 1,182 crore) while the rest will come from venture capital firm SAIF Partners, an early investor in One97.
Gurgaon-based ecommerce logistics firm SSN Logistics Pvt. Ltd, which operates under the brand Delhivery, is in advanced talks to raise $100 million (around Rs 667 crore) led by private equity firm The Carlyle Group with participation from Chinese conglomerate Fosun. If the deal goes through, it will mark the largest funding round in the ecommerce logistics space.
Tiger Global-backed logistics startup BlackBuck has received an investment commitment of $30 million (around Rs 200 crore) in its Series C funding round from a group of new and existing investors, including Sands Capital and World Bank’s arm International Finance Corporation (IFC). Citing two unnamed persons close to the matter, Mint reported that both Sands Capital and IFC have committed about $10 million each while existing investors Accel Partners, Flipkart and Sanjiv Rangrass (ITC executive) will also contribute in this round.
Facilities management services company Updater Services (P) Ltd – Uds. (UDS) has raised Rs 100 crore ($15 million) from MOPE Investment Advisors (MOPE). UDS is engaged in the business of providing integrated business services to clients across the country. This is the third round of private equity investment in the company, which has previously seen investors like New Vernon Private Equity and ICICI Ventures investing in 2004 and 2008, respectively.
Belong, the world’s first predictive outbound hiring platform provider, today announced it has raised $10 million in Series B funding led by Sequoia Capital India, with participation from existing investor Matrix Partners India. The company said it will use the funds to accelerate product development, expand sales and support operations, and hire new talent across engineering, data science, enterprise sales and customer success. Gautam Mago, Managing Director at Sequoia Capital India Advisors, has joined the Belong Board of Directors, which includes Tarun Davda, Managing Director at Matrix Partners India, and Raju Reddy, Founder and ex-CEO of Sierra Atlantic.
A vast majority of Indian consumers have limited access to formal credit. The CreditMantri platform was created to bridge this gap between consumers and lenders and thereby make credit possible. Using a combination of traditional data (such as credit reports) and alternative data (such as social media, data from mobile phones etc.), CreditMantri enables consumers to create their credit profile in order to understand their credit potential. The firm has raised $7.6 million funding in series B round led by Accion Frontier Inclusion Fund, managed by Quona Capital along with Newid Capital and existing investors – Elevar Equity, IDG Partners and Accion Venture Lab.
Hospitality management services startup HOSTMAKER.co has secured $6.5 million (Rs 43.37 crore) in Series A funding led by Paris-based venture capital fund Ventech and existing investor DN Capital. London-based Hostmaker assists Airbnb with listings, managing guest experience and hotel-style housekeeping. It also provides hosts with an in-house interior design team to enhance the appeal of the listed property.
Delhi-based Redcarpet, a student microlending startup has raised $2.5 Mn funding in a round led by Lightspeed Venture Partners. The startup will use the newly raised funds to improve risk evaluation technology, introduce new student-lending features, and expansion of team.
Apart from these top 10 funding deals, here are a few startups which have also secured funding for their growth and expansion:
IGenetic Diagnostic Pvt Ltd has secured funding of around Rs130 crore from Manipal Education and Medical Group and UK firm CDC Group plc., according to two people familiar with the development.
Ahmedabad-based Ohoshop, a Software-as-a-Service (SaaS)-based mcommerce enabler has raised $1 Mn funding from Brand Capital.
Ed-tech startup NeoStencil India Pvt. Ltd has raised $1 million (Rs 6.67 crore) in a funding round led by media house Times Group’s ad-for-equity investment arm Brand Capital and California-based Paragon Trust.
Marking its first investment, early-stage venture fund Ideaspring Capital has put in a little over $500,000 (Rs 3.5 crore) in Chennai-based Karomi Technology Pvt. Ltd, which runs Karomi, a tech startup in the packaging artwork management space.
Chinese bike-sharing start-up Ofo said it has raised $450 million in a fresh round of funding, as the firm faces up against deep-pocketed rival Mobike in one of the hottest sectors to attract tech investors.
Bangalore-based employee onboarding and engagement platform tydy has raised $275,000 in angel investment from a group of individuals, including existing investor Bhupen Shah, former co-founder of Sling Media.
Ride-hailing service Olacabs has pumped Rs50 crore into its leasing subsidiary, Ola Fleet Technologies Pvt. Ltd, according to regulatory filings. This is Ola’s first significant capital infusion into the entity since its acquisition two years ago.
Jaipur-based ed-tech startup Nactus India Services Pvt Ltd has raised an undisclosed amount from a group of angel investors.
Emojifi, an app that provides live emoji, sticker and graphics interchange format (GIF) suggestions based on the typed words across chat platforms, has raised angel funding from two Hyderabad-based unnamed angel investors.
Bangalore-based LetsEndorse Development Pvt. Ltd, which runs online network for social causes LetsEndorse, has raised an undisclosed amount from Chandigarh Angels Network, Tata Trusts-backed Social Alpha and other unnamed angel investors.
Kreate Konnect, which manages operations for e-commerce companies, has raised an undisclosed amount of investment from advertising agency Langoor.
Mumbai-based digital payments company ItzCash Card Ltd has made an undisclosed equity investment in Bangalore-based expense management firm Finly.
Global Super Angels Forum (GSF Accelerator), a startup accelerator-cum-early-stage fund, has made new investments in five startups as part of its fifth accelerator programme. The selected startup are #YellowAnt, HeyMojo AI, #Silversparro, Breathe Wellness Inc & ORO Wealth.
Stay Abode, a Bengaluru-based startup that is building co-living spaces, has raised an undisclosed amount in an angel round led by investors Ishan Manaktala and Angie Mahtaney, it said in a statement.
Jewellery e-commerce marketplace JohariShop has raised $94,000 (Rs 62.5 lakh) from three angel investors, including a diamond exporter and a high net-worth individual, to power its omni-channel efforts.
Ratan Tata and Bollywood actor Hrithik Roshan are in talks to invest in CureFit, a healthcare startup founded by former Flipkart executives.
Gurgaon-based mytaxiindia.com (MTI), an outstation taxi and cab service provider in India, has raised strategic investment from UAE-based investment and holding company Zain Group Of Companies.
Delhi-based VDSS Agri Tech Pvt. Ltd, which owns and operates agri-tech startup Paalak.in, has raised an undisclosed amount in seed funding from a clutch of angel investors as it looks to expand and strengthen its IT infrastructure.
SeenIt Online Pvt. Ltd, a Kolkata-based startup that operates artificial intelligence-powered fashion search platform SeenIt.in, has raised an undisclosed amount in pre-Series A funding from Calcutta Angels Network (CAN) and Augment Ventures.
Couponhaat, a Delhi based start-up and Indian e-commerce company which provides best coupons and deals for online shoppers, received pre-series A funding from a private European Investor.