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.
Japanese investor SoftBank has pumped in about Rs 1,675 crore in fresh funding in homegrown Uber-rival Ola. The fresh funding will give the Bangalore-based online transportation network firm a more muscle to give stiff competition to Uber.
According to the filings recorded with the Registrar of Companies (RoC), SoftBank subsidiary SIMI Pacific Pte picked 12,97,945 shares valued at Rs 10 at a premium of Rs 12,895 in Ola’s parent company ANI Technologies.
The allotment of shares was done in November last year, showed the RoC.
India’s largest exclusive diabetes care provider, Dr. Mohan’s Diabetes Specialities Centre today announced that it has raised Series A investment of $10.23 million (Rs. 66 crores) led by Lok Capital advised Growth Fund – the third fund from Lok. This is the first round of institutional funding for Dr. Mohan’s, since its inception in 1991.Dr. Mohan’s will use the funds to scale rapidly; develop a pan-India presence and grow from a base of 25 clinics to 100 in the next 4 years. This round of funding also counts Evolvence India Fund as co-investor. Venky Natarajan, Managing Partner, Lok Capital and Ajit Kumar, Managing Director, Evolvence India Fund will join the board of Dr. Mohan’s. Veda Corporate Advisors (“Veda”) was the exclusive financial advisor to Dr. Mohan’s for this transaction.
NCR-based holiday planning startup WeAreHolidays has secured $7.7 Mn in its Series B round of funding led by Urrshila Kerkar, founder and promoter of Cox & Kings. She has reportedly picked up a 50% stake in the company, in an investment facilitated in her personal capacity. The funding will be used to relaunch its app on the Android and iOS. It will also be used to develop the company’s social media-driven approach to travel.
Lendingkart Group, an online lender to small and medium enterprises (SMEs), has raised Rs30 crore in debt from Anicut Capital, the company said on Thursday. Lendingkart will use these funds to expand its loan book and expand to more regions in India.
In June 2016, the company raised $32 million in series B round of debt plus equity funding led by Betelsmann India Investment.
Bengaluru-based B2B agrimarketing platform ninjacart has raised $5.5 Mn from Accel Partners- India, Nandan Nilekani’s NRJN Trust, Mistletoe, Qualcomm Ventures, and M&S Partners. Ninjacart will use fresh funds to expand its team and invest in supply chain automation, technology and data science. The platform connects farmers to end retailers like grocery stores, supermarkets and restaurants that buy fruits and vegetables.
India’s tech-enabled rental brokerage company, FastFox.com has raised Rs. 30 crore from Lightspeed India Partners, Blume Ventures, CyberAgent Ventures and others, in Series A financing. 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. GrowX ventures and IMJ Investment Partners also participated in the round.
Based out of Gurgaon, Fastfox was 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.
Mumbai-based third-party logistics startup Emiza on Thursday announced that it has raised $4.5 million, in a funding round led by Mayfield. The round also saw participation from existing investors Nishant Rao, COO, Freshdesk, and Dileep Nath. The funds will be primarily used to expand the business to other geographies, in hiring a robust leadership team, and to focus on technology.
This is the third round of funding for the logistics startup, which was started in early 2016 by Ajay Rao and Rajesh Sharma.
Professional talent management startup HackerEarth has raised $4.5 Mn (INR 30 Cr) in an equity financing round led by US-based DHI Group Inc. The California- and Bangalore-based startup plans to use the money to strengthen its product team and expand its business internationally, among other purposes.
Bengaluru-based online lending platform for SME’s Capital Float has raised $2.3 Mn (INR 15 Cr) from Mahindra and Mahindra Financial Services. The funds have been raised against the allotment of non-convertible debentures (NCDs). The Bengaluru-based company, which lends to small and medium businesses (SMEs), had raised Rs 17 crore from IFMR Capital Finance through NCDs in December.
San Francisco and New Delhi-based enterprise startup Squad has raised $2.1 million from India and Valley-based investors like Blume Ventures, Contrarian Capital, 91slingshot, Emergent Ventures, Abstract Ventures, Anthill Ventures, Axilor Ventures, as well as from angel investors, Gokul Rajaram, Product Engineering Lead at Square, and Shamik Sharma, Senior Technology Advisor at Myntra.
Squad will use the funds to scale its platform by expanding the technology, product and data teams in India and the sales team in the US.
Apart from these top 10 funding deals, here are a few startups which have also secured funding for their growth and expansion:
Delhi-based e-learning and skills development startup Simulanis has raised an undisclosed amount of funding led by Village Capital.
Mumbai-based logistics startup Emiza Supply Chain Services Pvt. Ltd has raised its first round of institutional funding, according to a person close to the development.
Hyderabad-based Vicinia Retail Pvt. Ltd, which operates food delivery startup TinMen, has raised an undisclosed amount of funding from MAPE Advisory Group, Sify co-founder R Ramaraj and Corvus Ventures, which is led by Mahesh Reddy of MAPE Advisory.
Health foods startup Kiji Foods has raised Rs 3 crore ($464,000) in angel funding from Shekhar Sahu and Kunal Sinha, co-founders of Healthcare Magic which was acquired by Ebix Inc.
Gurgaon-based fund Redcliffe Capital on Wednesday said it has invested in an online retailer of safety and hygiene products, SafetyKart.com Retail while the company has moved its private label brand and product PeeSafe to a newly founded entity Redcliffe Hygiene.
Mobikwik has received about Rs 6 crore (about $930,000) from existing investor Cisco Investments India Pvt. Ltd and Bennett Coleman & Co Ltd (BCCL) as part of its $50-million Series C round.
Delhi-based Purple Panda Fashions Pvt. Ltd, which operates online-first lingerie and sleepwear retailer Clovia, has attracted two new investors in a fresh round of funding nearly two years after its Series A round.
WAH Holidays Pvt. Ltd, which operates online travel marketplace WeAreHolidays, has raised an undisclosed amount in its Series B round led by Urrshila Kerkar, a director on the board of Cox & Kings Ltd.
Noida-based Alcis Sportswear, a sportswear startup, has raised an undisclosed amount of funding from Singapore-based venture capital firm RB Investments, according to a source familiar with the development.
Gurgaon-based BTB Marketing Pvt Ltd, which runs a chain of beer bars under the brand The Beer Cafe, has raised an undisclosed sum from Singapore-based RB Investments.
Pune-based Engazify owned by Emrec Technologies Pvt. Ltd. has raised an undisclosed amount of funding from a silicon valley based HNI angel investor, Vaibhav Domkundwar.
Global SaaS platform for SMEs, Omnify has secured $150K from Rajan Anandan ( VP, Southeast Asia and India, Google); L.D Sharma (CEO, Shoogloo Group and MD, Optimise Media Group, India); and Saurabh Arora (founder and CEO, Airwoot).
New Delhi-based India Sports Flashes Pvt. Ltd, which operates sports content app Sports Flashes, has raised an undisclosed amount in fresh angel funding from wrestler and Olympic medallist Sushil Kumar, and Global Edusports Ventures’ Sandeep Singh.
Corporate Mergerware Solutions Pvt. Ltd, a startup that provides software solutions for post-merger and acquisition integration, has raised $100,000 (about Rs 65 lakh) from existing investor Philippe Bouchet, who is a former vice president at French energy management firm Schneider Electric.