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.
MobiKwik Raises Rs 225 Cr from Bajaj Finance
Bajaj Finance made the corporate announcement on BSE on Wednesday stating that it had “entered into a Subscription Agreement with One MobiKwik Systems Private Limited ('MobiKwik') for acquisition of 10 Equity shares and 271,050 compulsory convertible preference shares (CCPS).”
The value of the transaction is approximately Rs. 225 Crores, the company said, adding that the that the conclusion of the transaction is subject to fulfillment of certain conditions in due course. Bajaj Finance has also entered into a shareholders agreement which would become effective on conclusion of the transaction.
MobiKwik had till now raised $80 million from investors including Sequoia Capital, American Express, Tree Line Asia, Cisco Investment, and Mediatek. The company has been in the market to raise its fourth round of funding at a valuation of $1 billion, according to CEO Bipin Preet Singh.
PlasmaGen BioSciences Raises $25M from Eight Roads Ventures, F-Prime
Biopharmaceutical company PlasmaGen BioSciences Pvt. Ltd said on Tuesday it has raised $25 million (Rs 160.4 crore) from investors led by private equity firm Eight Roads Ventures India.
US-based F-Prime Capital Partners also participated in PlasmaGen’s first external round of funding, the Bengaluru-based company said in a statement.
The investment will help PlasmaGen expand its product portfolio, deepen market penetration and strengthen its product supply chain, founder and managing director Vinod Nahar said.
Lendingkart Finance Raises $10M in a Fresh Round of Debt Funding for Expanding Its Reach to Over 700 Cities
Lendingkart Finance Limited, today announced that it has raised $10 million (INR 67 crores) debt fund from Kotak Mahindra Bank, Aditya Birla Financial Services and other financial institutions. As the company expands its reach to over 700 cities across the country, these funds will come in handy to re-stock the loan book, allowing them to widen its scope to SMEs country-wide. As of today, Lendingkart Finance has disbursed over 12000 loans to more than 9500 SMEs across 23 diverse sectors.
Hector Beverages to Raise Funding from Sequoia, Catamaran
Hector Beverages, maker of the Paperboat beverage brand, is about to close a fresh round of funding led by existing investors Sequoia Capital and N R Narayana Murthy's investment firm Catamaran Ventures. The Rs 50 crore new investment will take the total funding the company has received to Rs 300 crore.
A month ago, the company had raised venture debt funding of Rs 20 crore from Trifecta Capital. Its last investment round was two years ago, a $29 million round led by Sofina Capital and Hillhouse Capital.
Aye Finance Raises Rs 10 Cr by Selling Its SME Portfolio to M&M Financial Services
Aye Finance has raised Rs 10 crore funds by selling part of its portfolio, under a securitization deal, to Mahindra & Mahindra Financial Services. Through this deal, which was facilitated by IFMR Capital, Aye has further diversified its funding sources, having raised money last year through equity and more recently through debt from India’s biggest PSU Bank SBI and a leading global impact investment manager, Blue Orchard.
Aye Finance, a non-banking finance company (NBFC) licensed by RBI, is headquartered in Gurgaon and serves the credit worthy albeit the underserved MSME sector through a network of 67 branches in 10 Indian States.
Touchkin Raises $1.3M in Seed Funding for Its Mental Health Chatbot ‘WYSA’
Wysa, a little penguin that sits in your phone and helps you face whatever life throws at you, has raised a total of $1.3 million in seed funding from early stage investment firm Kae Capital and angel investors.
Created as an AI coach for behavioural and mental health, Wysa offers evidence-based techniques through empathetic, anonymous conversations. So far, it has had over 3 million conversations with people from 30 countries. “In the last month, three people wrote to us to say that Wysa saved their life. It blew our minds that by providing an empathetic ear, even an AI bot could help people hold on when they felt they had no one to turn to,” said Jo Aggarwal, co-founder and CEO.
Wysa started as a side project for healthcare AI start-up Touchkin, and soon acquired a life of its own.
FreeCharge Co-founder Kunal Shah, LetsVenture Invest in eCommerce Enabler Zepo
Mumbai-based Zepo Technologies Pvt. Ltd, which runs a do-it-yourself e-commerce platform for small businesses, has raised Rs 3.19 crore from a clutch of investors including online funding platform LetsVenture and FreeCharge co-founder Kunal Shah.
People Group founder and CEO Anupam Mittal, who is an existing investor, and Hetal Sonpal, former head of strategic alliances at Intel India, also participated in the round, the company’s filings with the ministry of corporate affairs show.
5 Month Old Edtech Startup Leverage Secures Seed Funding
An online platform for higher education, Leverage has raised an undisclosed amount in seed funding from a bunch of investors, including Arjun Mehta, former CFO at American Express India; Kashyap Deorah, founder, Hypertrack; Sadashiva NT, a former chief financial officer of Babajobs and Anand Sankeshwar, Managing Director, VRL Logistics.
The company plans to utilize freshly infused funds towards its product development and to grow its team size.
New Delhi Based LimeTray Raises Undisclosed Amount of Funding from JSW Ventures
LimeTray, which provides SaaS based solutions to restaurants, has raised an undisclosed amount of funding from JSW Ventures. The funds raised will help the company further strengthen its ‘restaurant OS’ product suite and expand in international markets.
LimeTray offers a suite of software products to F&B establishments to help them with commerce, billing, channel management, customer engagement, and digital marketing. The company has over 2,000 customers in India, Dubai, Indonesia, and Nigeria. It caters to large chains like Burger King, Mad Over Donuts, Taco Bell and Krispy Kreme, as well as other local & national F&B businesses.
Used-apparel Reselling Platform CoutLoot Raises Pre-Series A Investment
Mumbai-based CoutLoot, which claims to be India’s first high-street and luxury service to buy and sell authentic pre-owned designer wardrobe, has successfully raised its pre-Series A investment, according to a report in the VCCircle.
The investment round saw the participation of venture capital firms Redcliffe Capital and Artha India Ventures and Angels like Apoorv Ranjan Sharma, president, Venture Catalysts and Siddharth Kothari of Om Kothari Group among others. It was led by angel investor Anuj Puri, the real estate veteran who quit as the head of property consultant JLL India earlier this year.
Apart from these top 10 funding deals, here are a few startups which have also secured funding for their growth and expansion:
Kyros Healthcare Solutions Pvt. Ltd, which runs doctor consultation platform Docwise, has raised an undisclosed amount from former Flipkart executives Mekin Maheshwari and Gaurav Bhalotia
Mumbai-based full-service digital marketing firm Ethinos Digital MarketingPvt. Ltd has raised funding from a domestic venture capital firm.
Bangalore-based Mountain Trail Foods Pvt. Ltd, operator of the Chai Pointnetwork of tea stores, has raised fresh capital from some existing investors for expansion, as per media reports.
Zoctr Health Pvt. Ltd., an online platform that allows users to buy health-related services and home-based wellness packages, has raised a bridge round of funding from new and existing investors.
SkillConnect, a recruitment portal, has raised an undisclosed amount of investment from Rajasthan Angel Investor Network.
Mumbai-based DTC Technologies Pvt Ltd, which operates storage solutions provider BoxMySpace, has raised an undisclosed amount of funding in its pre-Series A round from a clutch of logistics players and other investors.
MobiKwik Raises Rs 225 Cr from Bajaj Finance
Bajaj Finance made the corporate announcement on BSE on Wednesday stating that it had “entered into a Subscription Agreement with One MobiKwik Systems Private Limited ('MobiKwik') for acquisition of 10 Equity shares and 271,050 compulsory convertible preference shares (CCPS).”
The value of the transaction is approximately Rs. 225 Crores, the company said, adding that the that the conclusion of the transaction is subject to fulfillment of certain conditions in due course. Bajaj Finance has also entered into a shareholders agreement which would become effective on conclusion of the transaction.
MobiKwik had till now raised $80 million from investors including Sequoia Capital, American Express, Tree Line Asia, Cisco Investment, and Mediatek. The company has been in the market to raise its fourth round of funding at a valuation of $1 billion, according to CEO Bipin Preet Singh.
PlasmaGen BioSciences Raises $25M from Eight Roads Ventures, F-Prime
Biopharmaceutical company PlasmaGen BioSciences Pvt. Ltd said on Tuesday it has raised $25 million (Rs 160.4 crore) from investors led by private equity firm Eight Roads Ventures India.
US-based F-Prime Capital Partners also participated in PlasmaGen’s first external round of funding, the Bengaluru-based company said in a statement.
The investment will help PlasmaGen expand its product portfolio, deepen market penetration and strengthen its product supply chain, founder and managing director Vinod Nahar said.
Lendingkart Finance Raises $10M in a Fresh Round of Debt Funding for Expanding Its Reach to Over 700 Cities
Lendingkart Finance Limited, today announced that it has raised $10 million (INR 67 crores) debt fund from Kotak Mahindra Bank, Aditya Birla Financial Services and other financial institutions. As the company expands its reach to over 700 cities across the country, these funds will come in handy to re-stock the loan book, allowing them to widen its scope to SMEs country-wide. As of today, Lendingkart Finance has disbursed over 12000 loans to more than 9500 SMEs across 23 diverse sectors.
Hector Beverages to Raise Funding from Sequoia, Catamaran
Hector Beverages, maker of the Paperboat beverage brand, is about to close a fresh round of funding led by existing investors Sequoia Capital and N R Narayana Murthy's investment firm Catamaran Ventures. The Rs 50 crore new investment will take the total funding the company has received to Rs 300 crore.
A month ago, the company had raised venture debt funding of Rs 20 crore from Trifecta Capital. Its last investment round was two years ago, a $29 million round led by Sofina Capital and Hillhouse Capital.
Aye Finance Raises Rs 10 Cr by Selling Its SME Portfolio to M&M Financial Services
Aye Finance has raised Rs 10 crore funds by selling part of its portfolio, under a securitization deal, to Mahindra & Mahindra Financial Services. Through this deal, which was facilitated by IFMR Capital, Aye has further diversified its funding sources, having raised money last year through equity and more recently through debt from India’s biggest PSU Bank SBI and a leading global impact investment manager, Blue Orchard.
Aye Finance, a non-banking finance company (NBFC) licensed by RBI, is headquartered in Gurgaon and serves the credit worthy albeit the underserved MSME sector through a network of 67 branches in 10 Indian States.
Touchkin Raises $1.3M in Seed Funding for Its Mental Health Chatbot ‘WYSA’
Wysa, a little penguin that sits in your phone and helps you face whatever life throws at you, has raised a total of $1.3 million in seed funding from early stage investment firm Kae Capital and angel investors.
Created as an AI coach for behavioural and mental health, Wysa offers evidence-based techniques through empathetic, anonymous conversations. So far, it has had over 3 million conversations with people from 30 countries. “In the last month, three people wrote to us to say that Wysa saved their life. It blew our minds that by providing an empathetic ear, even an AI bot could help people hold on when they felt they had no one to turn to,” said Jo Aggarwal, co-founder and CEO.
Wysa started as a side project for healthcare AI start-up Touchkin, and soon acquired a life of its own.
FreeCharge Co-founder Kunal Shah, LetsVenture Invest in eCommerce Enabler Zepo
Mumbai-based Zepo Technologies Pvt. Ltd, which runs a do-it-yourself e-commerce platform for small businesses, has raised Rs 3.19 crore from a clutch of investors including online funding platform LetsVenture and FreeCharge co-founder Kunal Shah.
People Group founder and CEO Anupam Mittal, who is an existing investor, and Hetal Sonpal, former head of strategic alliances at Intel India, also participated in the round, the company’s filings with the ministry of corporate affairs show.
5 Month Old Edtech Startup Leverage Secures Seed Funding
An online platform for higher education, Leverage has raised an undisclosed amount in seed funding from a bunch of investors, including Arjun Mehta, former CFO at American Express India; Kashyap Deorah, founder, Hypertrack; Sadashiva NT, a former chief financial officer of Babajobs and Anand Sankeshwar, Managing Director, VRL Logistics.
The company plans to utilize freshly infused funds towards its product development and to grow its team size.
New Delhi Based LimeTray Raises Undisclosed Amount of Funding from JSW Ventures
LimeTray, which provides SaaS based solutions to restaurants, has raised an undisclosed amount of funding from JSW Ventures. The funds raised will help the company further strengthen its ‘restaurant OS’ product suite and expand in international markets.
LimeTray offers a suite of software products to F&B establishments to help them with commerce, billing, channel management, customer engagement, and digital marketing. The company has over 2,000 customers in India, Dubai, Indonesia, and Nigeria. It caters to large chains like Burger King, Mad Over Donuts, Taco Bell and Krispy Kreme, as well as other local & national F&B businesses.
Used-apparel Reselling Platform CoutLoot Raises Pre-Series A Investment
Mumbai-based CoutLoot, which claims to be India’s first high-street and luxury service to buy and sell authentic pre-owned designer wardrobe, has successfully raised its pre-Series A investment, according to a report in the VCCircle.
The investment round saw the participation of venture capital firms Redcliffe Capital and Artha India Ventures and Angels like Apoorv Ranjan Sharma, president, Venture Catalysts and Siddharth Kothari of Om Kothari Group among others. It was led by angel investor Anuj Puri, the real estate veteran who quit as the head of property consultant JLL India earlier this year.
Apart from these top 10 funding deals, here are a few startups which have also secured funding for their growth and expansion:
Kyros Healthcare Solutions Pvt. Ltd, which runs doctor consultation platform Docwise, has raised an undisclosed amount from former Flipkart executives Mekin Maheshwari and Gaurav Bhalotia
Mumbai-based full-service digital marketing firm Ethinos Digital MarketingPvt. Ltd has raised funding from a domestic venture capital firm.
Bangalore-based Mountain Trail Foods Pvt. Ltd, operator of the Chai Pointnetwork of tea stores, has raised fresh capital from some existing investors for expansion, as per media reports.
Zoctr Health Pvt. Ltd., an online platform that allows users to buy health-related services and home-based wellness packages, has raised a bridge round of funding from new and existing investors.
SkillConnect, a recruitment portal, has raised an undisclosed amount of investment from Rajasthan Angel Investor Network.
Mumbai-based DTC Technologies Pvt Ltd, which operates storage solutions provider BoxMySpace, has raised an undisclosed amount of funding in its pre-Series A round from a clutch of logistics players and other investors.
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