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.

Mswipe Raises Series D Funding of $31M from UC-RNT Fund and Existing Investors

Mswipe Technologies Private Limited, India’s largest independent POS merchant acquirer and network provider, today announced Series D funding of $31 million. UC-RNT fund, a joint venture between Ratan Tata’s RNT Associates and the University of California along with existing investors Matrix Partners India, Falcon Edge Capital, and DSG Consumer Partners participated in the round. The company will use the funds to develop the largest network of merchants accepting digital payments in the country.

Mswipe currently has a payment network of 2,46,000 terminals spread across 550+ cities. As much as 80% of Mswipe’s customer base comprises of SME merchants, typically supported by 1-30 employees.

OneAssist Raises $18M in Series C Funding Led by Existing Investor Sequoia Capital and Others

OneAssist Consumer Solutions Pvt Ltd – a company that provides assistance and protection services to customers in areas of high everyday dependencies like wallets & cards, mobile phones and gadgets, today announced it has closed an $18 million Series C funding. The investment round was led by existing investor Sequoia Capital with participation from its other existing investors Lightspeed Venture Partners and Assurant Inc. along with a new investor Moonstone Investments. The investment positions OneAssist to grow the significant market opportunities in the categories it operates in as well as develop new product segments.

Product Discovery Startup Unbxd Raises $12.5M from Fidelity Arm, IDG, Others

Unbxd, the cloud-based product discovery platform for ecommerce, has closed $12.5 Mn in Series C funding round led by Eight Roads Ventures, the proprietary investment arm of Fidelity International Limited. Existing investors IDG Ventures, Inventus Capital Partners and Nirvana Ventures as well as Infosys Ltd co-founder Kris Gopalakrishnan also participated in the round.

Unbxd was founded in October 2011 by Pavan Vilas Sondur and Prashant Kumar. It had raised $2 million in a Series A round in 2013 and an undisclosed amount in its Series B round from existing investors, which also include the Indian Angel Network, last year.

Bengaluru Based Julia Computing Raises $4.6M from General Catalyst and Founder Collective

Julia Computing, an open-source language for high-performance technical computing and data science, has raised seed funding of $4.6M from investors General Catalyst and Founder Collective. The company plans to use the raised funding to accelerate product development.

“We selected General Catalyst and Founder Collective as our initial investors because of their success backing entrepreneurs with business models based on open source software. This investment helps us accelerate product development and continue delivering outstanding support to our customers, while the entire Julia community benefits from Julia Computing’s contributions to the Julia open source programming language,” said Julia Computing CEO Viral Shah.

Health Startup Grow Fit Closes Series A Funding of $4.5M from MEMG and Other Investors

Growth Story-backed mobile health company Grow Fit announced USD $4.5 million in Series A funding led by MEMG (Manipal Education and Medical Group), the PE arm of the Manipal Group. With this, Dr. Ranjan Pai, the MD & CEO of MEMG, will be joining the Board of Directors. The SAR Group and The Grover Trust, Grow Fit’s seed investors, also participated in this round.

Started in September 2015, Grow Fit is a full-stack health tech company committed to helping Indians achieve peak wellness through a combination of data science, medical expertise and personalised inputs.

HR Software Services Startup Darwinbox Raises $4M Funding Led by Lightspeed

Darwinbox, a human resources software-as-a-service startup, has raised $4 million (about Rs 25 crore) in a series-A round of funding led by Lightspeed India Partners, the India-dedicated fund of California-based Lightspeed Venture Partners.

Some of the existing investors who participated in the round include Endiya Partners, Mohandas Pai’s 3one4 Capital and StartupXseed Ventures.

The company plans to use the newly raised funds product innovation and market expansion. Founded by Rohit Chennamaneni, Jayant Paleti and Chaitanya Peddi in August 2015, Darwinbox is a cloud-based integrated HR technology product that takes care of all HR needs across the employee cycle.

Online Lending Startup LoanTap Raises $4M

Online lending startup LoanTap has raised $4 million from Kae Capital, India Quotient, IFMR and MAS Finance along with other angel investors, in a round that saw a mix of equity and debt instruments.

The equity infusion of Rs 10 crore was led by Kae Capital with participation from LoanTap’s existing investors including India Quotient. The rest of the capital came in the form of debt from IFMR, Muthoot Finance and MAS Finance. The Mumbai-based startup, which was launched in May last year, had earlier raised $3 million.

Fashion eCommerce Portal Fynd Raises $2.4M Led by IIFL Seed Ventures; Closes Series A at $3.4M

Fynd, the unique fashion e-commerce portal that sources its inventory directly from the brand store, has closed its Series A round of funding at $3.4 million. Fynd raised $2.4 million from the lead investor, IIFL Seed Ventures followed by an active participation from Kae Capital, FJ Labs, Singularity Ventures, GrowX,Traxcn Labs and Hong Kong based Axis Capital in the round. The offline to online fashion commerce platform will leverage the capital infusion for accelerated growth, to enhance its consumer base, strengthen its tech backbone and to optimize its operations including marketing strategies.

Fynd had earlier raised $500K from Venture Catalysts in March and $500K from Silicon Valley-based Rocketship in May in its series A round. Fynd makes optimal use of both online and offline forms of retail and channelizes its combined outreach for a superior customer experience.

Fintech Startup Kissht Raises $2M From Endiya Partners and Ventureast

Mumbai-based fintech startup Kissht has raised $2 Mn from Hyderabad-based early-stage venture capital firm Endiya Partners, and Ventureast. Kissht app provides collateral-free loans to users.

Founded in 2015 through the Kissht app users can buy various items within the app. These items include mobiles, laptops, jewellery, and electronics.

Voice And Picture Based Networking App VoxWeb Raises $1M to Fuel Growth

VoxWeb, a mobile-first special-purpose social network around “speaking-pics”, has raised $1 million from individual investors. Successfully concluding its third round of funding, VoxWeb promoters and employees will continue to hold 80% ownership rights and 100% voting rights.

The funding will be deployed to strengthen backend technologies and to add innovative and engaging front-end features to cater to the new generation of social media users termed as “Facebook-Nevers”. The company will also invest in scaling marketing efforts to increase its user base. In addition, the company may also spend in brand-building by running grass-root campaigns in colleges.

Apart from these top 10 funding deals, here are a few startups which have also secured funding for their growth and expansion:

MaxWholesale, a mobile-based B2B grocery supply chain, has raised $1 Mn in Pre-Series A round of funding led by Indian Angel Network (IAN) and Maple Capital Advisors.

Travel-tech startup ExploreLifeTraveling India Pvt. Ltd has raised its first external round of funding from a clutch of investors.

Fabulyst Pvt. Ltd, which operates an artificial intelligence-based platform emulating a personal stylist, has raised Rs 1.4 crore ($216,000) in seed funding from iB Hubs, a launchpad-cum-accelerator for startups.

Product rental marketplace Grabonrent has raised an undisclosed amount of funding in its bridge round ahead of closing Series A round of around $4-5 million.

Mumbai-based foodtech startup Wegan Foods has raised an undisclosed amount of funding from a member of the royal family of Sharjah and Ras Al Khaimah – Her Highness Sheikha Arwa Al Qassimi.

Post a Comment

Previous Post Next Post
Like this content? Sign up for our daily newsletter to get latest updates.