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.

Chinese Internet Conglomerate Tencent In Talks To Infuse $400 Mn In Ola

The homegrown cab hailing firm, Ola is again in news. The Bengaluru-based firm is in talks with Tencent, the Chinese internet conglomerate to raise next round of funding, according to the media reports. If everything goes well, it could result in an investment of $400 million.

According to the media reports, “Tencent executives were in Bangalore last week and they met the Ola management team to discuss the transaction.”

According to the media reports, “Tencent executives were in Bangalore last week and they met the Ola management team to discuss the transaction.”

Healthcare Firm Portea Medical To Raise $25 Mn From Sabre Capital, Accel

Portea Medical, a home healthcare company is in advanced talks to secure $25 million (Rs 160 crore) in its Series C round of funding. If sources to be believed, Sabre Capital, an India-focused mid-market private equity firm is leading the round. Accel Partners is also participating in the round, as per the sources.

Commenting on the development, Meena Ganesh, CEO, Portea Medical told ET, “Portea is in talks with three investors to raise $25 million. I can’t elaborate further at this point.”

As per the sources, Portea is reportedly raising the capital at a valuation lower than that during the previous investment round in 2015.

FabHotels Raises $25M in Series B Round from Goldman Sachs and Accel Partners

FabHotels, a technology-driven budget hotel franchise, announced today that it has raised $25 million in a Series B investment led by Goldman Sachs Investment Partners. Accel Partners, an existing investor, also participated in the round. The funds will further accelerate the nationwide expansion of FabHotels.

FabHotels’ franchise model focuses on partnering with 20 – 40 rooms capacity budget hotels. Such unbranded budget hotels, with over one million rooms of capacity, make up the largest and most fragmented hospitality segment in India today. The company uses its proprietary technology platform to deliver superior yields to franchisees and assists in property operations for the delivery of best-in-segment stay experiences to travelers. FabHotels also operates a professional training academy for hotel staff and on the ground quality control teams.

1mg Raises Additional $15M Funding Led by HBM Healthcare Investments With Participation from Existing Investors

1mg Technologies Pvt Ltd, India’s largest digital health platform which operates mobile app “1mg” on Android/ iOS and the web platform, today announced that it has closed a financing round of ~$15M, led by HBM Healthcare Investments with participation from other existing investors Maverick, Sequoia India, Omidyar & Kae Capital.

HBM had made its first investment in 1mg last year in May 2016, as a part of a top-up round following the Series B financing that was led by Maverick Capital Ventures.

HBM is among the global leaders in healthcare-focused investing with around USD 1.5 billion under management. HBM focuses on development stage, growth and buy-out financings of private companies, as well as investments in public companies.

Hero Enterprise Invests $10M in Consumer Lighting Firm Corvi LED Light

Sunil Kant Munjal led Hero Enterprise has committed a strategic stake and shall invest $10 Mn in Corvi LED Light, a pioneering and technology-reshaping consumer lighting firm based in Mumbai that already has over ten Red Dot Design Award winning products under its belt. The addition of Corvi to the investment portfolio of Hero Enterprise reinforces Sunil Kant Munjal’s vision to empower entrepreneurship built around innovation, plus the ability to deliver value globally.

Edtech Startup BYJU’S Raises Investment from Tencent

BYJU’S, India’s largest education company announced a new round of funding from Tencent Holdings Limited (Tencent), a leading provider of Internet value added services in China. This latest round of funding will help BYJU’S accelerate product development for new markets and enable inorganic growth through acquisitions.

Launched in 2015, BYJU’S Learning App has pioneered the personalised learning space for school students across the country. With 9 million students learning from the app and over 450,000 annual paid subscribers, BYJU’S has seen more than 100% growth, with revenue growing from Rs. 115 crores (FY 15-16) to Rs. 260 (FY 16-17) crores. The company also turned profitable last quarter.

Beauty Services Marketplace Bigstylist Raises $1.2M From Info Edge

Online beauty services provider BigStylist has raised $1.2 Mn (INR 8 Cr) in a fresh funding round led by Info Edge. As per BSE filings, the amount has been invested via compulsorily convertible debentures (CCD).

In September 2016, BigStylist secured $900K from the Delhi-based company. This increases Info Edge’s stake in the startup to around 49.37%, from the earlier 39%.

With the newly-secured funding, BigStylist is looking to set up shop in Delhi NCR, and is also hoping to break even in the two cities it currently operations in, Mumbai and Pune.

Communication Platform Noticeboard Raises $1.2M Led by Stellaris Venture Partners

Noticeboard, Bengaluru-based communication platform for frontline staff, has raised its first round of $1.2 million led by Stellaris Venture Partners.

The funds will be used to strengthen the technology, product and design teams. Noticeboard is focused on leveraging the power of the mobile phone to make information more accessible, and will be looking for top talent that understands the nuances of the small screen deeply.

“At Noticeboard, we believe organizational communication has to be more inclusive. Noticeboard aims to empower frontline staff with real time communication and make them participants of the knowledge economy, much like email did for the desk workers.” says Vishal Gahlaut, CEO, Noticeboard.

Assistive Tech and EdTech Startup Thinkerbell Labs Raises Rs 1.3 Cr in Angel Round from IAN & Others

Thinkerbell Labs, which builds literacy devices for the visually impaired has raised an angel investment of Rs 1.3 Crore from Indian Angel Network and Mr Anand Mahindra. The angel round was led by Mr. Rajesh Navaneetham and Mr. Manjunath Nayak. Mr. Anand Mahindra, Chairman and Managing Director at Mahindra Group invested in the company in his personal capacity. Mr.Rajesh Navaneetham will sit on the board of ThinkerBell Labs representing IAN. The startup will be utilizing the funds to run pilots in the UK, setting up product, sales and content teams.

Technology Platform Jhakaas Raises Pre-Series A Funding from a USA Based Investor

Jhakaas Technologies, a technology-driven platform that “Enables local businesses” to create a presence online, has raised an undisclosed amount in a pre-series A funding from a USA based investor Mr Amen Dhyllon. The motive of the fund raise is for technological enhancement and up-gradation of the application and expansion of the network throughout India.

The next generation mobile app facilitates for the day-to-day needs of the consumer entailing services such as grocery shopping, restaurant hunting, on call cakes and sweet delivery, vegetable shopping, wine shops, ordering medicines and much more. The app includes more than 300 categories. Currently, the company has over 1,00,000 merchants, and the plan is to add 5,00,000 merchants by year end March 2018.Jhakaas is currently operating in Mumbai, New Delhi, Bangalore, Chennai, Indore, Hyderabad, Ahmadabad and Pune.

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

Mumbai Based legal SaaS Startup IPHawk Raises Funding At Tie Mumbai SmashUp 7.0

Gaja Capital-backed CL Educate Ltd, the parent of test-preparation platform Career Launcher, has further invested in Threesixtyone Degree Minds Consulting Pvt. Ltd, which runs online higher education brand 361minds (361 Degree Minds).

Fitness aggregator Gympik raises money from existing investor

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