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.
Home-based medical services provider Health Care at Home India (HCAH) has secured $38.5 million (INR 250 Cr) from healthtech-focussed PE firm Quadria Capital. The company will use the money to build infrastructure, which includes expansion in nearly 25 cities. It aims to be reach Rs 1,000 crore in sales by 2020. For Quadria Capital, which only looks at investments in healthcare, this is the first of such model in India that it has invested in. HCAH, promoted by Gaurav Burman, offers high-end healthcare delivery services like ICU care, kidney dialysis, cancer care treatment at home.
Home healthcare service provider Medwell Ventures has raised $21 million in Series B funding led by Mahindra Partners with participation from existing investors Eight Roads Ventures and US-based F-Prime Capital Partners. “We will use the funds to grow in existing cities as well as expand to newer regions. In FY18, we plan to expand to NCR (National Capital Region) and Chennai and later in eastern India,” said Vishal Bali, co-founder and chairman of Medwell Ventures.
Mumbai-based pharma platform PharmEasy has raised $16 million in Series B round led by Bessemer Venture Partners and Orios Venture Partners. With the newly raised round, the startup aims to expand its geographical presence in India and also seeks to penetrate further into its existing markets to bolster category-leadership position. PharmEasy is currently operational in seven cities – Mumbai, Delhi, Bengaluru, Kolkata, Pune, Jaipur and Ahmedabad with over 150 partner vendors. The startup is looking to strengthen its tech team.
Edtech startup Eruditus Executive Education has secured about $8 million (INR 53 Cr) in a Series B round led by Bertelsmann India Investments. The company plans to use the funds to add new programmes with the existing and new university partners as well as expand its geographical reach to China, Latin America and Europe.
Kalaari Capital and Norwest Venture Partners have led a $7 million funding round in ElasticRun, a Pune-based stealth startup. The financing was completed in two tranches, with the first tranche of about $2 million coming through in April last year. The year-old startup, which has largely been in stealth mode, will use the proceeds to further build its technology infrastructure, on-board talent and expand operations.
Bengaluru-based fintech firm Perfios has reportedly raised $6.1 million (INR 40 Cr) in Series A funding round from Bessemer Venture Partners. “We will use the funds for three core areas -team expansion from our current strength of 55 people, international expansion by strengthening our presence in the UAE and Southeast Asia where we already serve clients, and potential acquisitions,“ Govindarajan said.
FastFox.com has raised Rs. 30 Crore from Lightspeed India Partners, Blume Ventures, CyberAgent Ventures and others in Series A financing. FastFox.com is India’s first tech-enabled rental brokerage company. The company plans to invest the funds to improve its technology solution, perfect its service delivery model and expand the team across engineering, sales and operations. The company started by Pallav Pandey and Mukul Bhati in Nov 2014, had earlier raised Rs. 6 Crore in 2015 in Seed round also led by LightSpeed India Partners.
Aeries Financial Technologies Pvt. Ltd., a fintech company promoted by serial entrepreneur and private equity investor Mr. V. Raman Kumar, today announced that CASHe, India’s growing app-only lending platform for young professionals has closed a series A funding from investor group led by Mr. Mathew Cyriac and advised by Florintree Advisors. The funding will further increase CASHe’s scale of business and solidify its position as the leading app-only lending platform. The company also announced that it has appointed Dr. Pulak Ghosh and Mr. Mathew Cyriac to its Board of Directors.
Bengaluru-based startup, whatfix has raised $3.69 Mn (INR 24 Cr) in Series A funding led by Stellaris Venture Partners with the participation of existing VC investors Helion Venture Partners and Powerhouse Ventures. The Bengaluru-based company will use the capital to strengthen R&D and aggressively grow its presence overseas, especially in the US where 60% of its existing customers are based.
Fingerlix, the fresh, ready-to-cook food solutions brand targeted at today’s progressive home makers has scaled a significant milestone by raising $3 million from Zephyr Peacock (ZP)in its Series A round of funding. After having successfully made its presence felt in a few parts of Mumbai, Fingerlix had recently branched out in Pune and had also launched a new delicacy, PuranPoli to further diversify its product portfolio. The fresh capital comes at the perfect juncture in Fingerlix’s growth trajectory and will be leveraged to further intensify its operations in Mumbai, expand into newer geographies of Pune and Bengaluru and build on its highly successful product line, besides hiring new talent to scale up the team.
Apart from these top 10 funding deals, here are a few startups which have also secured funding for their growth and expansion:
Chennai-based fresh-produce distribution startup WayCool has secured $2.7 Mn from early-stage venture capital firm Aspada Investments.
Gurugram-based Twenty Two Motors Pvt Ltd has raised $1.6 Mn in a Pre-Series A round of funding led by Ishwar Singh, CEO, Haryana Industries.
Online budget hotel brand and booking platform RedDoorz has raised $1 Mn venture debt from InnoVen Capital.
Sanjeev Kapoor’s online store for kitchen products, Wonderchef has received an undisclosed investment from French group Labruyere Eberlé.
Cricketer Yuvraj Singh’s investment fund YouWeCan Ventures has invested an undisclosed amount in Gurugram-based Startup Buddy. With this move, Yuvraj will join the company’s Board.
Noida-based online healthcare startup QorQL has secured an undisclosed amount of funding from ecommerce and payments platform Paytm.
Bengaluru- and Singapore-based data analytics startup DataWeave has secured an undisclosed amount in funding from Japanese ad-tech company, FreakOut Group.
NanoSniff Technologies Pvt. Ltd, an IIT Bombay-incubated company, has raised $300,000 (Rs 2 crore) from crowdfunding platform 1Crowd and its investor community.
Delhi-based healthcare tele-consultation platform Konsult App Pvt Ltd has raised $500,000 (Rs 3.25 crore) in two rounds of seed funding from a consortium of investors from the US, the UK, Netherlands and Australia.
Intercity logistics marketplace Trukky is raising $500,000 (Rs 3.25 crore) in a pre-Series A funding round from existing as well as new angel investors.
Enterprise IoT solutions startup Tyre Express has raised an additional undisclosed amount in seed round from Rohitash Gupta, CFO of a BSE-listed knowledge process outsourcing company.
Mumbai-based Edtech startup Testbook.com has raised an undisclosed amount of Series A funding from Matrix Partners India.
Capital International Inc has acquired a 3% stake in Ahmedabad-based Intas Pharmaceuticals Ltd.
Online counselling startup GrowthEX has raised an undisclosed amount of funding from a clutch of angel investors.