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.
Online room renting service Airbnb said on Thursday it had raised $1 billion in its latest round of funding, valuing the company at $31 billion. Airbnb raised $447.85 million as part of the Series F round. The company had raised about $555 million as part of the same round of funding in September 2016. The company turned in a profit on an EBITDA basis in the second half of 2016 and expects to continue to be profitable this year, the source said, adding that Airbnb had no plans to go public anytime soon.
Grocery delivery startup Instacart has raised a $400 million round at a valuation of $3.4B led by Sequoia Capital. Other investors in the Series D round include Andreessen Horowitz, Y Combinator Continuity, Kleiner Perkins Caufield & Byers, Wellcome Trust, FundersClub, Khosla Ventures, Initialized Capital, Thrive Capital and Valiant Capital. Instacart has to date raised more than $600 million. The company says it operates in 35 markets and plans to double its footprint this year.
SoftBank is negotiating to invest $100-150 million in Snapdeal owner Jasper Infotech in tranches, according to three people familiar with developments. A fourth person said overall investment could be as high as $300 million in Jasper, which is grappling with slowing sales and has been forced to cut jobs. The company was last valued at $6.5 billion when it raised $200 million in funding led by Canada’s Ontario Teachers’ Pension Plan in February 2016.
E-commerce-focused logistics firm Ecom Express Pvt Ltd has initiated the process of raising at least $75 million in a new round of funding, two people aware of the development said. Ecom Express’s existing private equity investor Warburg Pincus is likely to bring in another $75 million, which could take the fund-raising to a total of $150 million.
Gurugram-based logistics platform, Rivigo has raised about $15 Mn (INR 100 Cr) debt finance from undisclosed lending private sector banks. The startup will use the newly raised funds to increase its fleet and for preparing to introduce new products, including a technology to automate its trucking operations.
Yesterday saw 12 new Indian ventures getting Rs 85cr in funding in the Capital city, New Delhi. Pitch@Rahstrapati Bhavan, a startup event organised by the Presidential Residence on March 7, 2017 in partnership with Industry body, Confederation of Indian Industry (CII) was responsible for making this possible.
The programme, which was a part of the third Festival of Innovation (FOIN), aimed to provide a platform to both investors and startups to come together and talks business.
The startups who raised funding are GoMechanic, elth.ai, Neurosynaptic, Perfint, LoanTap, ftcash, Trupay, Myra Medicines, WholesaleBox, Sieve, Prokure & Omix Laboratories.
Venture capital fund of Russian conglomerate Sistema JSFC, Sistema Asia Fund (SAF) Advisory, plans to invest $12 million in at least four Indian startups in mid-stage financing deals. Singapore-registered SAF Advisory aims to “wrap up midstage Series-B and Series-C financing deals in calendar 2017 in at least four Indian startups operating in the technology and consumer-tech domains,” Andrey Terebenin, Managing Partner of the fund, told ET.
Accel India leads a $10 million series B round in agri-tech start-up AgroStar. Existing investors IDG Ventures and Aavishkaar also participated in this round. AgroStar has built a technology platform and uses data analytics and agronomy expertise to provide real time solutions to farmers in India.
India has over 100 million farmers who face challenges ranging from duplication of agri inputs, substandard products and the lack of tehincal know-how to grow their crop. These problems have led to very low farm productivity, resulting in Indian yields being lower than the world average for most of the crops. AgroStar is solving these challenges by providing real time solutions to farmers through its technology platform accessible to the farmer by a simple “missed call” and it’s android app. AgroStar has over 1 million farmers connected on its platform and is currently operational in the states of Gujarat, Maharashtra and Rajasthan.
Property listings website magicbricks.com has raised Rs 30 crore from its parent Times Internet Ltd, documents filed with the Registrar of Companies show. The company will use the funds towards brand building initiatives, product development, seller development activities and curating information on the portal, chief executive officer Sudhir Pai said.
Intra-city logistics startup Blowhorn has raised $3.65 million (Rs 25 crores) in series A funding from IDG Ventures India, together with the Michael & Susan Dell Foundation and existing investors, Draper Associates and Unitus Seed Fund. The company plans to utilize the investment to expand operations to 8 cities in the next 24 months, with over 25,000 daily active drivers.
Founded by Mithun Srivatsa and Nikhil Shivaprasad, who have a deep expertise of over two decades in logistics and technology, Blowhorn is effectively aggregating and streamlining India’s fragmented logistics market that currently has over 1.8 mn mini-trucks in urban centers alone.
Apart from these top 10 funding deals, here are a few startups which have also secured funding for their growth and expansion:
Mumbai-based Juno Clinic has raised about $1.2 Mn (INR 8 Cr) in Pre-Series A round of funding from Atul Nishar (founder of Hexaware Technologies & Aptech Computers) and other individual investors.
Mumbai-based PickMe e-Solutions India Pvt Ltd has raised Rs 12 crore ($1.79 million) from SIDBI Venture Capital Fund, according to a filing with the Registrar of Companies.
PipeCandy, a data science startup, has raised $1.1 million seed funding from IDG Ventures, Axilor Ventures, Emergent Ventures and Indian Angel Network.
Noida-based Dataresolve Technologies Pvt. Ltd, which runs cybersecurity and cyber intelligence startup Data Resolve, has raised over $1 million from IDFC Parampara Early Stage Opportunities Fund.
Bangalore-based early stage venture fund Ideaspring Capital has invested $600,000 (Rs 4 crore) in enterprise networking startup Lavelle Networks Pvt Ltd.
Easter Egg, a blockchain-enabled gifting platform, has raised $400,000 in its initial round of funding from Singapore-based early stage investment firm Wealthy Ideas.
Mumbai-based daily consumables startup SuprDaily has raised $120,000 from US-based startup accelerator Y Combinator after it was selected as one the 12 Indian startups for the winter batch of the programme.
Bangalore-based Roid Technologies Pvt Ltd, which operates instant mobile app store AppBrowzer, has raised $500,000 led by Deepak Gurnani, a member of Singapore Angel Network.
Delhi-based online fresh fruits and grocery store, iOrderFresh has raised an undisclosed amount of funding from Singapore Angel Network Pte. Ltd. (SGAN), the angel investment arm of Singapore-based Thakral Group of Companies.
Bengaluru-based Property Share has raised an undisclosed amount of funding in a round led by Japanese asset management firm Asuka, existing investors Pravega Ventures and Singapore-based BEENEXT.
Your Space Hostel on Friday said it has raised half a million dollars in angel funding towards expansion of their premium student housing venture.
Alphabet’s venture arm Google Ventures has invested in Currencycloud, a UK startup that provides technology to enable businesses to provide cross-border payments services to their customers.
Healthy snacking startup SnackExperts received undisclosed Pre Series A funding from Dipti Ranjan Pattnaik, chairman of Altrade Group, Shobhit Anand Das, Rohit Anand Das and Navnit Krishna, who have invested in their individual capacity.
Gurgaon-based Proparent Solutions Pvt. Ltd, which runs online community of parents Parentune.com, has raised an undisclosed amount in its second round of funding from existing investor Kae Capital and Singapore-based Segnel Ventures, a VC firm that operates in South and Southeast Asia.
Homegrown smartphone maker Smartron has secured undisclosed financing from Sanjay Jha, the chief executive of GlobalFoundries, one of the world’s largest contract manufacturers of semiconductors.
Television broadcast network STAR has picked up a minority stake in Bengaluru-based ZAPR Media Labs.
StatSoft Technologies Pvt Ltd-run online car servicing platform BookServicing has raised Rs 20 lakh ($30,000) in seed funding from the National Science and Technology Entrepreneurship Development Board (NSTEDB), a government arm that promotes tech enterprises.
Delhi-based startup First Step Digital – which launched a female urination device PeeBuddy – Ladies, Now Stand & PEE – has received Rs 2.96 crore ($444,000) in a pre-Series A funding from Indian Angel Network (IAN).
Gurgaon-based fashion and lifestyle discovery platform SummerLabel has raised Rs 1 crore ($150,000) in seed funding from a clutch of high net worth individuals.