Michael and Susan Dell Foundation Looks To Set up An Incubator For Startups in India

To serve the underserved and the unserved segments, the Michael and Susan Dell Foundation is looking to set up an incubator for startups. According to ET. For the same, the foundation is in talks with IIM-Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship (CIIE). 

Commenting on the development, Rahil Rangwala, the director for family economic stability at Michael and Susan Dell Foundation said, "We hope to set up this incubator by the end of this year. With this incubator, we aim to back startups serving at the bottom of the pyramid. We will look at startups in the areas of financial inclusion, job creation in the informal sector and other important areas.”

According to Rangwala, the incubator will look at early-stage companies and will offer financial inclusion, digital empowerment, job creation and services in other such impact areas. Apart from this, the foundation will also offer seed funding to the startups.

Though, financial in rmation regarding the upcoming incubator is undisclosed, the foundation in 2016 committed $50 million for India investments over three years.

The foundation, founded by Dell founder and Michael Dell and his wife Susan, opened its India office in 2006 and has so far committed more than Rs 1,100 crore to social enterprises in India.

Talking about its investments, the foundation has so far invested in a range of companies in the education and financial services sector which includes startups like OnlineTyari and ConveGenius, Swadhaar, and debt-financing company Kinara Capital among several others. It recently invested in a technology driven, social impact focused company, NEST education. Apart from this, it also recently invested in Blowhorn, an intra-city logistics startup and industrial training company Skillveri as part of its job creation focus.

Not only it invest in companies, it also supports incubators. Recently/, the foundation supported a non-profit incubator at IIM Bangalore and struck a partnership with startup incubator UnLtd to back early-stage social enterprises working on skill development and employability of low-income youth.

Top 10 Indian Startups Funding This Week [10 – 15 April]

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.

Ola Raises Fresh Rs 1,675 Crore from Softbank

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.

Diabetes Care Provider Dr Mohan’s Raises Rs 66 Cr in Series A Funding for Expansion

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.

Cox Kings Founder Urrshila Kerkar Invests $7.7M In WeAreHolidays

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 Raises Rs30 Cr in Debt from Anicut Capital

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.

Ninjacart Raises Rs 37 Cr from Nandan Nilekani’s Trust, Others

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.

Tech-Enabled Rental Brokerage Company, FastFox.com Raises Rs 30 Cr in Series A Funding

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 Logistics Startup Emiza Raises $4.5M

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.

HackerEarth Gets $4.5M in Series A Funding

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.

Capital Float Bags Rs 15 Cr from Mahindra and Mahindra Financial Services

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.

Work Automation Platform Squad Raises $2.1M from India & Valley-based Investors

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.

Top 10 Startup Funding This Week [20-25 March]

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.

Logistics Firm Delhivery Raises $100M

Delhi-based ecommerce logistics firm Delhivery has raised $100 million funding from US-based investment fund Carlyle Asia Partners, with participation from existing investor Tiger Global. In March 2015, the company had raised a massive $85 million Series D round led by Tiger Global Management with participation from existing investors, Multiples Alternate Asset Management, Nexus Venture Partners and Times Internet Limited. And in September 2014, the firm secured its Series C round, led by Multiples Alternate Asset Management.

Research Firm MarketsandMarkets Gets $56M

Pune-based global industry research and consulting company MarketsandMarkets has raised $56 million in a funding led by FTV Capital. Venture capital firm Zodius Capital came in as a co-investor, as per a statement by financial services provider Avendus Capital, which advised MarketsandMarkets on the transaction.

The research and consulting firm, which was launched in 2010, will use the funds to fuel its growth and global expansion, focused on the US and European markets.

ixigo Closes $15M in Series B Round Led by Sequoia Capital

Online travel search portal ixigo has closed its $15 million Series B round led by venture capital firm Sequoia Capital. Chinese investment firm Fosun Kinzon Capital Pte Ltd also participated in the round. The company will use the money for product capability, expansion plans as well as for brand promotion. The deal is a mix of compulsorily convertible preference shares and equity shares which was signed in January this year and closed last Friday.

MyGlamm Bags Rs 35 Cr from French Cosmetic Firm L'Occitane

On-demand beauty services provider MyGlamm has raised Rs. 35 crore from French cosmetic giant L'Occitane to expand its offerings in India ahead of beginning operations overseas. MyGlamm, seeking to establish itself as a fullstack beauty business, is preparing to introduce about 100 makeup products in India by July and take its operations global by the end of this year, with the Middle East being the first stop.

It will also introduce beauty education for customers as a certification service, in addition to the training for artists that it already offers. The company is also preparing to launch five stores in Mumbai and New Delhi this year.

Kalaari Capital Invests Rs 24 Cr in Enterprise Payment Solutions Provider Airpay

Mumbai based payment services startup, Airpay, has raised Rs 24 crore as part of a Series A round, led by Kalaari Capital and existing investors Rakesh Jhunjhunwala & Rajesh Jhunjhunwala.

Airpay was founded by Amit Kapoor, Kunal Jhunjhunwala and Rohan Deshpande, experienced technology, operations and marketing professionals. The founders witnessed first hand, various payment related hurdles faced by medium & large enterprises and decided to come together to solve a complex problem.

GrabOnRent Close to Raising $3M in Series A Round

Bangalore-based GrabOnRent Internet Pvt. Ltd, which runs product rental marketplace Grabonrent, is close to raising $3 million (Rs 19.5 crore) in Series A funding from new and existing investors. Existing investors IvyCap Ventures and Unicorn India Ventures will also participate in the round. The startup will use the funds to expand the business to other cities, including Mumbai, Delhi-NCR, Pune and Chennai. GrabOnRent currently operates in Bangalore and Hyderabad.

Keriton Raises $1.1M in Funding

Vidur Bhatnagar, a 26-year-old youngster hailing from Roorkee has raised $1.1 million (Rs 7.1 crore) for his start-up venture -- 'Keriton', which is aimed at making breast milk management easier for nurses and mothers in the case of premature babies. The pilot phase of Keriton is to be started soon with the hospital of University of Pennsylvania. Initial investors to the start-up include venture-capitalists as well as US-based angel investors.

Retail Tech Startup Mobisy Technologies Raises $382K in Bridge Round

Mobisy Technologies Private Limited has raised $382,000 bridge round from existing investor Ojas Ventures and two undisclosed angel investors. The capital will be used to expand Distiman geographically and scale up Bizom’s operations.

“Other functions, such as brand sales and engineering, are shared. In fact, Bizom is Distiman’s back-end technology, so the engineering roadmap for the products is essentially the same. Hence, the same resourcing and costs,” Arun Narayanan, co-founder, Mobisy Technologies said.

Adurcup Raises $325K in Pre-Series A Round

Adurcup, an online managed marketplace for procurements needs of restaurants in India, has secured approximately $325,000 in pre-Series A round of funding from undisclosed corporate investors and family offices, with participation from existing investors.

The capital will be used for “building stronger unit economics by bringing efficiencies in the current supply chain processes using technology”. Additionally, Adurcup plans to expand its operations in Jaipur, Lucknow and Chandigarh. Currently, the startup operates only in Delhi-NCR.

Social Startup Haqdarshak Secures Angel Funding

Bangalore-headquartered Haqdarshak Empowerment Solutions Pvt. Ltd, a tech-enabled social enterprise, has raised close to Rs 1.25 crore ($191,000) in angel funding from a clutch of investors, including WonderChef managing director Ravi Saxena and former Infosys executive Sandeep Raju. Besides, for its pre-Series A funding round, the startup has secured in-principle commitment from three social impact investors to raise as much as Rs 13.1 crore ($2 million).

Apart from these top 10 funding deals, below companies have also secured capital for their growth and expansion:

Amishi Consumer Technologies Pvt. Ltd, which runs pregnancy and baby care products firm The Moms Co., has raised an undisclosed amount in seed funding from co-founder of food startup Fingerlix and beverages firm PaperBoat Shripad Nadkarni, Nestle executive Nandu Nandkishore, and senior partners from McKinsey.

New Delhi-based India Sports Flashes Pvt. Ltd, which operates sports content app Sports Flashes, has raised an undisclosed amount in angel funding from Vikas Bajaj, joint managing director, Bajaj Motors Ltd., and Amit Kharbanda, founder, MYBOX Technologies PVT. LTD - A HERO Electronix Venture.

BabyOnBoard, a Bangalore-based parenting startup, has received an undisclosed amount of seed funding from Gana Yantrika Systems Anant Pandit.

Indian Institute of Technology, Kanpur has invested seed funding of Rs 50 lakh in Lucknow-based Decentrik Technologies Private Limited that has developed a mobile water ATM known as ‘Waah’ which will give 250mL of clean drinking water at just Rs 2.

Hyderabad-based healthcare startup, Oxa Medical has raised an undisclosed amount in Seed funding from UAE-based Idein Ventures, marking its first investment in the core healthcare industry in India.

Top Startup Funding This Week [26-31 December]

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.

TA Associates Invests $25.5M in Shilpa Medicare

Hyderabad-based pharmaceutical company Shilpa Medicare LTD has raised Rs 172.425 crore ($25.5 million) from US-based private equity investor TA Associates Management Lp. TA Associates’ director Naresh Patwari will join the company’s board as an additional director, the firm said.

On-Demand Delivery Startup ShadowFax Raises $10M

Hyperlocal logistics startup Shadowfax Technologies Pvt. Ltd has raised $10 million (Rs 68 crore) in Series B funding led by existing investor Eight Roads Ventures, an investment arm of Fidelity International Ltd. The investment will help Shadowfax build its network, consolidate its market position and stabilise performance in existing cities, Eight Roads said in a statement.

Nandan Nilekani Invests $5M More in 10i Commerce

Bengaluru-based ecommerce startup 10i Commerce Services has raised $5 million in funding from Infosys co-founder Nandan Nilekani. With the latest investment, the former chairman of the Unique Identification Authority of India (UIDAI) has so far invested about $10 million in 10i Commerce in several tranches.

Dekkho Raises $1.2M in Seed Funding; Set to Disrupt the Video Streaming Space

Dekkho, a new-age streaming platform, has raised $1.2 million from seven marquee angel investors in one of the largest seed funding rounds in India. The company offers a viewing experience that is uncluttered and curated, has high-quality content sourced from leading content providers from India and abroad, consumes less internet bandwidth, offline viewing facility, offers exclusive access to new content, and – above all – is free. Established in March 2016, Dekkho is the brainchild of Tanay Desai and Vinay Pillai.

Fitness App HealthifyMe Receives An Additional Funding of $1 Million

Bengaluru-based health/fitness app, HealthifyMe today hit 1 million downloads on Google PlayStore. With a rating of 4.3/5, HealthifyMe is ahead of all the other apps in this space. Adding to this success, the app has also received an additional $1 million (INR 6.7 crores) in funding from Dubai based investor Neelesh Bhatnagar whose company NB Ventures has been actively investing in Indian startups.

InstantPay Bags Rs 34 Cr Funding

Delhi-based digital payments and financial services company InstantPay has raised Pre-Series A funding from Singapore-based investors RB Investments and Kaleden Holdings. The funding, which is part of a pre series A round, will be used for the development of new products and geographical expansion across the country. A part of the funding will be used to build the brand and for marketing.

Omnichannel Book Renting Platform JustBooks Gets Funding From CoCreate Ventures

Omnichannel book renting platform, JustBooks has raised an undisclosed amount of funding from investment firm CoCreate Ventures that has set up a Rs 15 crore ($2.2 million) fund to help startups pivot or turn around.
JustBooks plans to deploy the raised funds towards revamping its digital presence, developing its technology for better customer management and loyalty programmes, and bringing more human resources to manage the brand and introduce new categories in books.

Online Event Booking Platform BookEventz.com Raises Pre-Series A Funding

BookEventZ, an online Event-Booking platform, raises an undisclosed amount in a successful Pre-Series A round from Lead Angels, Mumbai Angels and Letsventure. Existing investors also participated in this round. Key investors of this round include Girish Mathrubootham (Co-Founder Freshdesk), Anbu Pandian (‎CEO PanZeea Solutions) and Ishan Singh (Director Recapital Ventures) who led previous angel round as well.

Top Image Via: ShutterStock

Top 10 Startup Funding This Week

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.

IFC Invests $67M in Apollo Health and Lifestyle Ltd

Apollo Health and Lifestyle Limited (AHLL) has raised $67 million for a 29 percent equity stake from International Finance Corporation (IFC), the private lending arm of the World Bank. The investment in Apollo is part of an effort to address issues of access, quality, and affordability across the country, said Henrik Elschner Pedersen, IFC Senior Manager - Consumer and Social Services - Asia.

SARE Homes Gets $63.5M from Altico Capital, KKR

Real estate firm SARE Homes has raised Rs 435 crore ($63.5 million) from Altico Capital and private equity fund KKR for a township project in Gurgaon. This marks the second investment of KKR in SARE Homes. It had put in Rs 200 crore across a bunch of projects of the developer in the form of debt.

Core Diagnostics Raises $12M from Eight Roads Ventures, Others

Diagnostics services provider Core Diagnostics Pvt. Ltd. has raised $12 million from Eight Roads Ventures,US-based F-Prime Capital Partners and existing investor Artiman Ventures. The company said it will use the funds to introduce multiple new advanced tests for oncology as well as for other segments such as infectious diseases and gynaecology.

Dairy Brand Osam Raises $6.7M in Series B Funding Led by Lok Capital and Aavishkaar

Ranchi-based HR Food Processing Private Limited (HR Food), which manufactures and markets dairy products under the brand ‘Osam’ has raised Rs 45 crores ($6.7mn) in Series B funding. This round of funding was led by Lok Capital advised Growth Catalyst Partners (GCP) – the third fund from the India focused VC firm along with co-investment from existing investor, Aavishkaar India II Company Ltd. The funds will be utilised by the company to expand its production capacity and further its distribution outreach into neighbouring districts in Jharkhand and Bihar.

IndiaLends Raises $4 Million from American Express Ventures and Existing Investors

Fintech startup IndiaLends.com has raised $4 million in Series A funding from American Express Ventures, existing investors DSG Consumer Partners, Chinese investment firm Cyber Carrier VC and AdvantEdge Partners. The latest round of funding will be used by the company to expand its credit underwriting and analytics capabilities, offer more consumer-focussed products and increase its market footprint across India.

Lock Screen Platform SLIDE App Raises $3.6M in Series A Funding

SlideApp, a lock screen app that awards Android users for reading content, today announced its series A round of funding worth $3.6 million. The funding was led by Songhyun Investment, a leading South Korean VC firm. The app had previously raised $1.2 million as seed funding.

TYGR App Secures $3M in Pre-Series A Funding

Transport and logistics app TYGR has raised $3 Mn in a Pre-Series A funding round led by Franchise India, an Asian franchise and retail solution provider, and a group of fellow investors. This fund will be utilised for marketing, product development, and to expand the franchisee-led distribution network in India and globally.

Delhi Based Affordplan Raises $3M in Series A From Prime Venture Partners, Kalaari Capital

Delhi-based Affordplan, a savings led platform for medical expenses has raised $3 Mn (INR 20 Cr) as part of its Series A funding, led by Prime Venture Partners - formerly AngelPrime and Kalaari Capital as a co-investor. The startup plans to use these funds to expand the current team, build the network, and scale the business to new cities across India.

B2B Marketplace Wholesalebox Secures $2M in Pre-Series A Funding

B2B online marketplace in the fashion and lifestyle segment, WholesaleBox has secured $2 million in its Pre-Series A round of funding from angel investors. The raised funds will be used to scale its technology and expand its operations in new markets. It’ll be also used to improve the supplier and customer experience.

B2B Marketing Startup MARIANA Gets $2M from Exfinity Venture Partners

US- and Indian-based, AI-driven B2B marketing startup MARIANA has secured $2 Mn in a Seed financing round from Exfinity Venture Partners. Launched in 2013 by Abhishek Kashyap, Soumyadeb Mitra, and Venkat Nagaswamy, the company applies artificial intelligence to enhance a user’s B2B marketing. The company aims to help marketers deliver the right content to enhance the sales of their respective products.

Apart from these top 10 deals, here are other startups who also secured funding for their growth and expansion:

Noida-based digital healthcare company Sidqam Technologies has secured $1.2 million seed funding led by SQue Capital, a Mumbai-based investment firm.

Bengaluru-based HyperKonnect Technolgies Pvt Ltd, which owns shopping app ShopsUp, has raised seed funding of $1 million (Rs 6.6 crore) from two individual investors.

The Michael & Susan Dell Foundation has invested $1 million along with Aspada Investment Company in school financing firm Shiksha Financial Services India Pvt Ltd.

Vendor collaboration platform The Vetted has raised about $500,000 (Rs 3.4 crore) in seed funding from early-stage investment firm Kae Capital and other investors.

Startup called LocalRamu raised 2nd Round of undisclosed amount of funding from existing investors and two new angel investors.

Live music streaming app, Streoapp has secured an undisclosed amount in Seed funding from GEMs Advisory and Early Stage VC fund Quarizon.

Edtech startup Math Buddy Online has raised $438K (INR 3 Cr) from Menterra Venture Advisors, an early-stage impact fund that makes investments in startups working in the agriculture, energy, education, healthcare, and skill sectors.

Bonita India, a home utility startup, has raised an undisclosed amount of funding from a group of individual investors.

Bengaluru-based online fashion marketplace Indofash has secured $150K (INR 1 Cr) from angel investors, Shekhar Sahu and Nitesh Pant.

Delhi-based hyperlocal social networking app Pulse App has raised $500K in Pre-Series A funding round led by SAIF Partners.

Bengaluru-based emotion recognition startup Entropik Technologies has raised $200K in Seed funding from a group of angels.

Mumbai-based car service startup Carcrew has raised $500,000 (around Rs 3.4 crore) in an angel round led by TVS Group.

Mobile-based SaaS platform HandyTrain has raised around $1 Mn in funding from Silver Range Investments, Hong Kong, Lumina Datamatics and Shun Yoshida, Managing Director, Merrill Lynch, Tokyo and other angel investors.

MonkeyBox Food Tech Pvt. Ltd, which delivers healthy food for children, has raised an undisclosed amount in seed investment from early stage investor Blume Ventures and a clutch of high net-worth individuals (HNIs).

Math Buddy Online, a Vadodara-based online math learning startup, has raised an undisclosed amount of seed investment from Menterra Social Impact Fund.

Quarizon Invests Rs 1.5 Cr in Noida Based QSR Chain ‘Chai Thela’

First Batch of Kstart Companies, Active Intelligence and Affordplan, Raise Series-A Funding

Indian cricketer Mohit Sharma has invested in a social networking-based discovery platform for artists, Crossahead.

Image Source: ShutterStock

Top 10 Startup Funding This Week

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.

Cisco Investments Joins Helpshift’s $23M Series B Round of Funding

Helpshift, the company revolutionizing the customer support industry through enterprise-level, in-app customer experiences, has announced that Cisco Investments has recently joined their Series B funding round, which follows previous investors such as Intel Capital, Microsoft Ventures and Salesforce Ventures. As one of Cisco Investments’ portfolio companies, Helpshift and Cisco will also explore opportunities to integrate Helpshift’s in-app customer support solutions with Cisco’s leading contact center solutions.

Cloud Telephony Company Knowlarity Raises $20M in Series C Round Led by Delta Partners

Knowlarity, the leading cloud communications platform in emerging markets across Asia, has announced the successful raise of $20 million in its Series C funding round. The latest investment in Knowlarity, which is Asia’s largest cloud telephony company, was led by Dubai-based private equity firm Delta Partners. The round also saw participation from Knowlarity’s existing investors, Sequoia India and Mayfield, and included a small debt-based investment from Blacksoil and Trifecta Capital. Signal Hill, a leading independent M&A and private capital advisory firm was the exclusive financial advisor on this transaction. The latest investment takes the total funds raised by Knowlarity so far to $41 Million USD making it the most capitalised cloud telephony company in Asia.

Micro-Enterprise Lender AYE Finance Raises Rs 70 Cr in Series B Round

Delhi-based non-banking finance company AYE Finance (AYE) has closed its Series B round of funding of Rs 70 crore from LGT IV and its existing investors SAIF Partners and Accion. AYE is a rapidly-growing provider of loans to micro and small, enterprises across India. It was founded in 2014 by career bankers Sanjay Sharma and Vikram Jetley. AYE uses an innovative approach to make working capital loans available to these underserved enterprises by using a proprietary innovative underwriting methodology that has allowed AYE to enhance its portfolio to more than Rs80 crore.

B2B Commerce Startup Udaan Raises $10M from Lightspeed

B2B online marketplace Udaan has secured $10 million in its Series A round of funding from VC firm Lightspeed Venture Partners India and Lightspeed US. The deal, which closed in October, values the Bengaluru-based startup at about $40 million, according to two sources aware of the transaction.

SoftBank Invests Another $5M in Housing

SoftBank Group Corp, a leading investor in several Indian tech startups, has put in an additional $5 million in a bridge round in real estate portal Housing.com, according to three people aware of the development. SoftBank, the lead investor in Housing, had invested $15 million in the company in January this year.

Vymo Gets $5M in Series A Funding from Sequoia India

SaaS-based predictive sales analytics startup Vymo has secured $5 million in its Series A round from VC firm Sequoia India. This is Sequoia India's third funding announcement this month in the enterprise serving software-as-a-service (SaaS) space, after Freshdesk and Zarget.

Indian Language Social Platform ShareChat Raises $4M in Series A Round

ShareChat, the Indian language social platform, has closed a $4 million Series A round of funding, led by Lightspeed India Partners, and from existing investors, SAIF Partners and India Quotient. The funding round also saw participation from Venture Highway (through VH Capital). Sharechat is building the largest social content network in India with a focus on small town users and vernacular content.ShareChat is the only platform available to a large audience coming to the internet for the first time, in India.

Fintech Startup Numberz Raises $650K in Seed Funding

Gurgaon-based Paradime Technologies Pvt. Ltd, which runs cash-flow management startup nu,mb,erz, has raised seed funding of $650,000 from investors Kae Capital and Khosla Impact. The company, which started in July last year, was earlier known as getfiscal.in.

The startup is also looking at the next round of funding of around $3-5 million, without mentioning a timeline for the closing.

Bot Protection Platform InfiSecure Raises $600k in Seed Funding from IDG and Axilor Ventures

InfiSecure, a bot protection technology startup has raised $600K in seed funding from IDG Ventures and Axilor Ventures. InfiSecure was launched in March 2016 as a SaaS platform for real-time bot detection and fraud protection. InfiSecure sanitizes a website’s traffic and improves business metrics using a 24×7 active SaaS solution.

Mumbai Based Networking App Nodd Raises $147K in Angel Funding

Identifying a huge opportunity in the professional networking space, 11 entrepreneurs turned investors pump in Rs 1 crore ($147K) in Noddapp.com. Mumbai-based Noddapp.com is an app based networking platform that helps individuals to discover and meet like-minded people through innovative curated experiences, using data analytics, experiences, and algorithms.

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

Proximity-based SAAS platform Kloseby has raised $100K Seed funding from an undisclosed investor.

Bengaluru-based career advice platform TapChief has raised an undisclosed amount of funding from Paytm, TaxiForSure founder Aprameya Radhakrishna; Fisdom founder Subramanya Venkat; and Venk Krishnan of NuVentures among others.

Gujarat-based Hubilo, a startup that provides integrated end-to-end online solutions for event organisers has raised an undisclosed amount of funding from a group of investors including Girish Mathrubootham, the founder of Freshdesk.

Mumbai-based Servify has raised an undisclosed Pre-Series A amount as investment from Blume Ventures and BEENEXT.

Indore-based fitness discovery platform, froyofit has raised an undisclosed amount in Pre- series A round of funding.

Safety solutions provider Better Place Safety Solutions has secured an undisclosed amount of funding from Venture Highway.

Edtech startup Edutainment Spearheads (flagship product, Volt) has secured an undisclosed amount in Seed funding from YMS Mobitech, a tech-based distribution company.

Tech enabled laundry service provider, UClean, has raised an undisclosed amount in Seed funding, led by franchise and retail solution group, Franchise India.

Bats on Delivery, an on-demand food and essential commodities delivery services firm, has raised its angel round of funding from a Delhi-based businessman.

Datasigns Technologies Pvt. Ltd., a mobile first financial technology startup has secured an undisclosed amount in angel funding.

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Z Nation Lab Partners with Access Silicon Valley to Build a Virtual Bridge for Startups in India

Z Nation Lab has partnered with Access Silicon Valley to provide a direct platform for startups in India. Startups will now get to access Silicon Valley angels, VCs and serial entrepreneurs in real time, which they otherwise wouldn’t get the opportunity to see, hear or possibly connect with.

In addition, Z Nation Lab has put together valuable workshops to provide entrepreneurs with a perspective on building scalable startups.

"This community will act as a group to provide a link to Silicon Valley ecosystem or “mindshare” as we like to think of it," the company said in a press release.

Z Nation Lab assists start­ups to scale up not only in India but globally. Its network includes global prodigy mentors and investors with specialization in the Indo-­US corridor.

With various patents registered in their name and having worked with fortune 500 companies including venture capital funds, they bring in over 150+ years of collective work experience.

Z Nation Lab selectively invests seed capital, provides strategic and technological support to startups. Thus, enabling them to accelerate in the right direction.

Neha Jain, Co-­Founder, Z Nation Lab said: “Access Silicon Valley is an extension of the overall global vision to build “virtual bridges” between cities in India that have great startup communities and potential to scale. The virtual bridge will enable Startup ecosystem in India to evolve to the next level, bridging the gap between ideation and implementation.”

Z Nation Lab is launching its first live streaming breakfast session in Mumbai, Pune, Delhi, Bengaluru and Hyderabad. Startups will not only get a chance to hear veterans from Silicon Valley but also pitch their next big idea to Z Nation Lab. The details for the same have been published in local community pages on their website.

Startups: Don't Make These 3 Common Financial Mistakes

Starting something new always results in butterflies in stomach syndrome. But, if one has a well-researched and thought-after plan in place, the nervousness and the risk can be cut back substantially. Same is the case with first-time entrepreneurs, or for the matter of fact, every entrepreneur. Since for most of them, it's their life earnings at stake, they take each and every step with 100 percent precaution. But, often in the midst of multitasking and facing the initial hurdles, most entrepreneurs end up making these three very common financial mistakes. Here's us, www.indianweb2.com, giving the entrepreneur community a heads up on these three financial mistakes they can avoid to jet speed on the path to success.

1) Value Human Capital

Being a first-time entrepreneur, one aspires to do everything by himself. They want to get involved with each and every minute detail related to the working of the startup. But, beware, this might not be smartest of the strategy. One needs to understand that they might want to multitask and do it all, but at the end, they're human too and their biggest asset is their brain. So, breathe and have confidence in your team. One needs to understand that as a pilot of the aircraft, you are the in-charge of keeping the engine running. So, focus on your main product and distribute other duties among your team. Don't consider it as an expense, but as a much needed investment.

2) Going BIG, all at once

This is a mistake that most of the first time entrepreneurs end up making and have to face serious repercussions as a result of it. Having growth on their mind, many entrepreneurs end up investing all that the startup had managed to earn in the initial period back into the business. This ends up backfiring most of the times. Hence, industry experts recommend having a short-term cash cushion that is separate from the money that is in the firm's operating accounts. Of course, reinvest in your business--but save a little for the future.

3) No Financial Mentor

Being a first-timer in running a business, it is always beneficial to have someone you can talk to who has been through the exact journey as you. It is a widely acknowledged fact in the startup industry that mentors make a huge difference in the journey of a startup. Hence, when it comes to managing your finances, it is always advisable to take help, then thinking you can do it on your own. Of course, no doubt, you can do it on your own, but someone with prior experience in the field will help you do it better. Never be ashamed of asking for help, being a human it is only natural.

Always remember that the success of your venture won't only impact you and your future but the future of many, hence take every step with utmost research, passion and brain. Take your time in learning things and what model works best for your startup, as rushing into things has never helped anyone in the past.