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.
Treebo Hotels Raises $34M from Ward Ferry, Karst Peak and Current Investors
Treebo Hotels, India’s largest budget hotel chain, has raised $34 million (INR 220 crore) in its Series C funding round led by Hong Kong-based investment firms Ward Ferry Management and Karst Peak Capital. Existing investors, SAIF Partners, Matrix Partners India, and Bertelsmann India Investments also participated in the round.
Founded in 2015, Treebo Hotels is a technology-enabled budget hotel brand with close to 300 franchisees operating exclusively under its brand across more than 50 cities. The company offers high-quality accommodation options to travelers in the Rs 1,000-3,000 per night price range.
Research And Diagnostics Testing Firm MedGenome Secures $30 Mn In Series C Funding
Genomics-based diagnostics and research firm MedGenome has raised $30 million (Rs 192 crore) in a Series C round led by existing investor Sequoia Capital and Sofina SA.
The round also saw the participation of existing investor Zodius Capital. Apart from them Infosys co-founder and former CEO Kris Gopalakrishnan and former Cognizant CEO Lakshmi Narayanan, too contributed to the round in their individual capacities.The latest round will help
The latest round will help the firm to accelerate development of the company’s affordable diagnostics tests and expand the market penetration by increasing customer awareness on the importance of genetic tests. Additionally, the funding will also be used to broaden biomarker discovery programs.
Bengaluru Based Medlife To Infuse $30 Mn To Scale Up Its E-Pharmacy Biz
Where startups like HealthKart, which raised $15 million in series-C from HBM Healthcare Investments is grabbing funds, there is one such startup which is largely been funded by capital from the founders, has so far been operating in a quiet mode. It’s none other than Bengaluru-based Medlife.
Medlife.com is a technology company with a heart and dream that every Indian gets to access the best possible health care and aims to be the pioneer healthcare hub that would bring all stakeholders on a single platform so that our customers can have a seamless healthcare experience. At Medlife.com, the team uses their domain and technological expertise to make health care delivery much more efficient and effective.
Founded in 2014 by Prashant Singh and Tushar Kumar, one of the founders of pharma company Alkem Laboratories, Medlife has planned an internal investment of $30 million to scale up its e-pharmacy business.
HealthCare Startup CureFit Secures $25 Mn From Accel Partners, Kalaari Capital, Others
Healthcare and wellness startup CureFit has raised $25 million in a fresh round of funding from existing investors Accel Partners; Kalaari Capital; IDG Ventures; a joint investment vehicle of the University of California, UC-RNT fund and Ratan Tata’s RNT Associates.
According to the ET, the new round is expected to go up to $35-40 million in the next six months. Further reports state that CureFit founders, who had earlier pooled $5 million into the company, also pumped in more money in this round.
As per the founders, the startup will utilize freshly infuse fund to expand Cult centers to other cities, starting with Gurgaon in October, and will also look to add a new product around medical check-ups and primary healthcare under the Care.fit brand by early 2018.
Mobikon, Marketing & Customer Engagement Platform For F&B Industry, Raises $7M In Series B Funding
Mobikon, a leading marketing and customer engagement platform for Food & Beverages (F&B) industry, today announced raising of $7 million in Series B funding from a three-member investor consortium, Sistema Asia Fund (Proprietary fund of Russia’s largest conglomerate, Sistema JSFC), C31 Ventures (Singapore) and Qualgro & participation from the existing investors, i.e.- Jungle Ventures & Spring Singapore
Mobikon to utilise the latest round of funding to scale up its business in India, South East Asia and Middle East. The company also plans to penetrate deeper into existing markets and build the next level of leadership team in India, United Arab Emirates (UAE), Philippines, Singapore and new markets like United Kingdom (UK) and Australia in the next 12-18 months. Prior to this round of funding, Mobikon had raised Seed funding in 2012 and Series A funding, amounting to US$5 million from Jungle Ventures, Life.Sreda, Qualgro, Spring Singapore, and Lion Rock, in 2015. The capital raised by the company from new and existing investors,now totals $12 million.
Michael & Susan Dell Foundation, Others Invest in Edtech Startup Kings Learning
Michael & Susan Dell Foundation, the philanthropic venture of Dell Technologies founder’s family, along with unnamed US-based tech investors, has backed spoken English tutoring startup Kings Learning with a $2.5 million (around Rs 16 crore) funding.
Kings Learning, which operates mobile app Enguru, aims to address the employability challenge faced by Indian youth due to poor English language and communication skills through offline, online and blended delivery channels.
Online Office Platform Aahaa Stores Raises $1M in the Second Round of Pre-Series A Funding
Aahaa Stores, one of the fastest growing online office supplies platform, today announced that it has raised the second round of pre-series A funding from investor group led by YourNest Angel Fund, an early stage investor in technology, ecommerce and consumer centric businesses. The company had raised first round funding of equal amount around eighteen months ago. The company had grown multifold since then in terms of Product portfolio, customer base, geographical presence and sales turnover. Two of the existing investors including YourNest have participated in this round as well at a substantially higher valuation as compared to their earlier investments. This reaffirms the investors’ faith in Aahaa Stores. In addition to them, a new investor with a strong equity financing background has picked up 50% equity of the fresh capital.
The company plans to utilize the funds for expanding the business across new verticals and geographies. Aahaa Stores also announced its intent to realize their long-term vision by strengthening its technology platform iPOS, mobilizing top talent and reaching out to new customers across verticals via the funds received.
Health Tech Startup mfine Raises $1.5M from Stellaris Venture Partners and Prominent Angels
mfine, India’s first AI-driven healthcare network, founded by former Myntra executives Prasad Kompalli and Ashutosh Lawania, has raised $1.5 Million in a funding round led by Stellaris Venture Partners. The round also saw participation from Mayur Abhaya and and Rohit MA, top healthcare entrepreneurs from Stellaris’ Founder Network.
Following the investment, Stellaris partner Ritesh Banglani has joined the company’s board.
mfine offers patients access to online consultations and care programs from the country’s top hospitals. Its AI platform helps improve doctor productivity and quality of diagnosis. The company is collaborating with top hospitals like Cloudnine Group, Ovum Hospitals and Femiint health to help increase their reach and provide a high standard of care for patients.
Info Edge Invests $1.3M More in Digital Photography Startup Canvera
Info Edge (India) Ltd, which owns job portal Naukri.com, has increased its stake in Bengaluru-based online photography startup Canvera Digital Technologies Pvt. Ltd by investing Rs 8.6 crore ($1.35 million).
The company said in a stock-exchange filing that it raised its stake in Canvera to 62.2% from 57% by subscribing to 777, 419 preferential shares at Rs 111.48 apiece. This is the same price at which Info Edge had invested in Canvera in 2015.
Digital Health Technology Startup Doxper Raises Seed Round Led by Vidal Healthcare and growX Ventures
Heathtech startup InformDS Technologies Pvt. Ltd. which runs Doxper, has raised seed round of investment of $750K led by Vidal Healthcare and growX ventures. Other investors are Capier Investments, Globevestor and angels including a leading onco-surgeon in the country.
Girish Rao, MD of Vidal Healthcare and Siddharth Dhondiyal representing growX ventures have joined the board of directors of Doxper, a company founded by three IIT alumni – Randeep Singh, Shailesh Prithani and Pawan Jain in January 2016.
Doxper aims to introduce the most natural way of integrating technology in the national healthcare ecosystem.
Apart from these top 10 funding deals, here are a few startups which have also secured funding for their growth and expansion:
Chennai-based Inkmonk, an online marketplace for merchandise printing, has raised $750k in seed funding.
Bangalore-based Medinfi has received $125k in funding from angel investors in Singapore, Germany and the Middle East.
Indian software product company Sapience Analytics has announced a majority investment from Credit Suisse Asset Management’s NEXT Investors.
IFC - International Finance Corporation has proposed to invest around $2-3 million in Bangladesh-based online grocery supplier Chaldal Inc.
Chennai-based financial services provider IFMR Holdings Pvt. Ltd has raised fresh funding from a couple of existing investors, as per media report.
Gurgaon-based FieldAssist, a software-as-a-service (SaaS) platform that provides sales force automation services, has secured an undisclosed amount in debt funding from Small Industries Development Bank of India (SIDBI).
Gurgaon Based Startup DAZL Gets Backing From Silicon Valley Accelerator HAX
Image Source: ShutterStock
Treebo Hotels Raises $34M from Ward Ferry, Karst Peak and Current Investors
Treebo Hotels, India’s largest budget hotel chain, has raised $34 million (INR 220 crore) in its Series C funding round led by Hong Kong-based investment firms Ward Ferry Management and Karst Peak Capital. Existing investors, SAIF Partners, Matrix Partners India, and Bertelsmann India Investments also participated in the round.
Founded in 2015, Treebo Hotels is a technology-enabled budget hotel brand with close to 300 franchisees operating exclusively under its brand across more than 50 cities. The company offers high-quality accommodation options to travelers in the Rs 1,000-3,000 per night price range.
Research And Diagnostics Testing Firm MedGenome Secures $30 Mn In Series C Funding
Genomics-based diagnostics and research firm MedGenome has raised $30 million (Rs 192 crore) in a Series C round led by existing investor Sequoia Capital and Sofina SA.
The round also saw the participation of existing investor Zodius Capital. Apart from them Infosys co-founder and former CEO Kris Gopalakrishnan and former Cognizant CEO Lakshmi Narayanan, too contributed to the round in their individual capacities.The latest round will help
The latest round will help the firm to accelerate development of the company’s affordable diagnostics tests and expand the market penetration by increasing customer awareness on the importance of genetic tests. Additionally, the funding will also be used to broaden biomarker discovery programs.
Bengaluru Based Medlife To Infuse $30 Mn To Scale Up Its E-Pharmacy Biz
Where startups like HealthKart, which raised $15 million in series-C from HBM Healthcare Investments is grabbing funds, there is one such startup which is largely been funded by capital from the founders, has so far been operating in a quiet mode. It’s none other than Bengaluru-based Medlife.
Medlife.com is a technology company with a heart and dream that every Indian gets to access the best possible health care and aims to be the pioneer healthcare hub that would bring all stakeholders on a single platform so that our customers can have a seamless healthcare experience. At Medlife.com, the team uses their domain and technological expertise to make health care delivery much more efficient and effective.
Founded in 2014 by Prashant Singh and Tushar Kumar, one of the founders of pharma company Alkem Laboratories, Medlife has planned an internal investment of $30 million to scale up its e-pharmacy business.
HealthCare Startup CureFit Secures $25 Mn From Accel Partners, Kalaari Capital, Others
Healthcare and wellness startup CureFit has raised $25 million in a fresh round of funding from existing investors Accel Partners; Kalaari Capital; IDG Ventures; a joint investment vehicle of the University of California, UC-RNT fund and Ratan Tata’s RNT Associates.
According to the ET, the new round is expected to go up to $35-40 million in the next six months. Further reports state that CureFit founders, who had earlier pooled $5 million into the company, also pumped in more money in this round.
As per the founders, the startup will utilize freshly infuse fund to expand Cult centers to other cities, starting with Gurgaon in October, and will also look to add a new product around medical check-ups and primary healthcare under the Care.fit brand by early 2018.
Mobikon, Marketing & Customer Engagement Platform For F&B Industry, Raises $7M In Series B Funding
Mobikon, a leading marketing and customer engagement platform for Food & Beverages (F&B) industry, today announced raising of $7 million in Series B funding from a three-member investor consortium, Sistema Asia Fund (Proprietary fund of Russia’s largest conglomerate, Sistema JSFC), C31 Ventures (Singapore) and Qualgro & participation from the existing investors, i.e.- Jungle Ventures & Spring Singapore
Mobikon to utilise the latest round of funding to scale up its business in India, South East Asia and Middle East. The company also plans to penetrate deeper into existing markets and build the next level of leadership team in India, United Arab Emirates (UAE), Philippines, Singapore and new markets like United Kingdom (UK) and Australia in the next 12-18 months. Prior to this round of funding, Mobikon had raised Seed funding in 2012 and Series A funding, amounting to US$5 million from Jungle Ventures, Life.Sreda, Qualgro, Spring Singapore, and Lion Rock, in 2015. The capital raised by the company from new and existing investors,now totals $12 million.
Michael & Susan Dell Foundation, Others Invest in Edtech Startup Kings Learning
Michael & Susan Dell Foundation, the philanthropic venture of Dell Technologies founder’s family, along with unnamed US-based tech investors, has backed spoken English tutoring startup Kings Learning with a $2.5 million (around Rs 16 crore) funding.
Kings Learning, which operates mobile app Enguru, aims to address the employability challenge faced by Indian youth due to poor English language and communication skills through offline, online and blended delivery channels.
Online Office Platform Aahaa Stores Raises $1M in the Second Round of Pre-Series A Funding
Aahaa Stores, one of the fastest growing online office supplies platform, today announced that it has raised the second round of pre-series A funding from investor group led by YourNest Angel Fund, an early stage investor in technology, ecommerce and consumer centric businesses. The company had raised first round funding of equal amount around eighteen months ago. The company had grown multifold since then in terms of Product portfolio, customer base, geographical presence and sales turnover. Two of the existing investors including YourNest have participated in this round as well at a substantially higher valuation as compared to their earlier investments. This reaffirms the investors’ faith in Aahaa Stores. In addition to them, a new investor with a strong equity financing background has picked up 50% equity of the fresh capital.
The company plans to utilize the funds for expanding the business across new verticals and geographies. Aahaa Stores also announced its intent to realize their long-term vision by strengthening its technology platform iPOS, mobilizing top talent and reaching out to new customers across verticals via the funds received.
Health Tech Startup mfine Raises $1.5M from Stellaris Venture Partners and Prominent Angels
mfine, India’s first AI-driven healthcare network, founded by former Myntra executives Prasad Kompalli and Ashutosh Lawania, has raised $1.5 Million in a funding round led by Stellaris Venture Partners. The round also saw participation from Mayur Abhaya and and Rohit MA, top healthcare entrepreneurs from Stellaris’ Founder Network.
Following the investment, Stellaris partner Ritesh Banglani has joined the company’s board.
mfine offers patients access to online consultations and care programs from the country’s top hospitals. Its AI platform helps improve doctor productivity and quality of diagnosis. The company is collaborating with top hospitals like Cloudnine Group, Ovum Hospitals and Femiint health to help increase their reach and provide a high standard of care for patients.
Info Edge Invests $1.3M More in Digital Photography Startup Canvera
Info Edge (India) Ltd, which owns job portal Naukri.com, has increased its stake in Bengaluru-based online photography startup Canvera Digital Technologies Pvt. Ltd by investing Rs 8.6 crore ($1.35 million).
The company said in a stock-exchange filing that it raised its stake in Canvera to 62.2% from 57% by subscribing to 777, 419 preferential shares at Rs 111.48 apiece. This is the same price at which Info Edge had invested in Canvera in 2015.
Digital Health Technology Startup Doxper Raises Seed Round Led by Vidal Healthcare and growX Ventures
Heathtech startup InformDS Technologies Pvt. Ltd. which runs Doxper, has raised seed round of investment of $750K led by Vidal Healthcare and growX ventures. Other investors are Capier Investments, Globevestor and angels including a leading onco-surgeon in the country.
Girish Rao, MD of Vidal Healthcare and Siddharth Dhondiyal representing growX ventures have joined the board of directors of Doxper, a company founded by three IIT alumni – Randeep Singh, Shailesh Prithani and Pawan Jain in January 2016.
Doxper aims to introduce the most natural way of integrating technology in the national healthcare ecosystem.
Apart from these top 10 funding deals, here are a few startups which have also secured funding for their growth and expansion:
Chennai-based Inkmonk, an online marketplace for merchandise printing, has raised $750k in seed funding.
Bangalore-based Medinfi has received $125k in funding from angel investors in Singapore, Germany and the Middle East.
Indian software product company Sapience Analytics has announced a majority investment from Credit Suisse Asset Management’s NEXT Investors.
IFC - International Finance Corporation has proposed to invest around $2-3 million in Bangladesh-based online grocery supplier Chaldal Inc.
Chennai-based financial services provider IFMR Holdings Pvt. Ltd has raised fresh funding from a couple of existing investors, as per media report.
Gurgaon-based FieldAssist, a software-as-a-service (SaaS) platform that provides sales force automation services, has secured an undisclosed amount in debt funding from Small Industries Development Bank of India (SIDBI).
Gurgaon Based Startup DAZL Gets Backing From Silicon Valley Accelerator HAX
Image Source: ShutterStock
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