Top 10 Startup Funding This Week [03 – 08 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.

HealthCare at Home raises $40M from Quadria Capital

Home-based medical services provider Health Care at Home India (HCAH) has secured $38.5 million (INR 250 Cr) from healthtech-focussed PE firm Quadria Capital. The company will use the money to build infrastructure, which includes expansion in nearly 25 cities. It aims to be reach Rs 1,000 crore in sales by 2020. For Quadria Capital, which only looks at investments in healthcare, this is the first of such model in India that it has invested in. HCAH, promoted by Gaurav Burman, offers high-end healthcare delivery services like ICU care, kidney dialysis, cancer care treatment at home.

Medwell Raises $21M from Mahindra Partners, Others

Home healthcare service provider Medwell Ventures has raised $21 million in Series B funding led by Mahindra Partners with participation from existing investors Eight Roads Ventures and US-based F-Prime Capital Partners. “We will use the funds to grow in existing cities as well as expand to newer regions. In FY18, we plan to expand to NCR (National Capital Region) and Chennai and later in eastern India,” said Vishal Bali, co-founder and chairman of Medwell Ventures.

Health tech Startup PharmEasy Gets $16M in Series B Round

Mumbai-based pharma platform PharmEasy has raised $16 million in Series B round led by Bessemer Venture Partners and Orios Venture Partners. With the newly raised round, the startup aims to expand its geographical presence in India and also seeks to penetrate further into its existing markets to bolster category-leadership position. PharmEasy is currently operational in seven cities – Mumbai, Delhi, Bengaluru, Kolkata, Pune, Jaipur and Ahmedabad with over 150 partner vendors. The startup is looking to strengthen its tech team.

Eruditus Raises Rs 53 Cr from Bertelsmann India

Edtech startup Eruditus Executive Education has secured about $8 million (INR 53 Cr) in a Series B round led by Bertelsmann India Investments. The company plans to use the funds to add new programmes with the existing and new university partners as well as expand its geographical reach to China, Latin America and Europe.

Norwest, Kalaari Capital Lead $7M Funding Round in Pune Based ElasticRun

Kalaari Capital and Norwest Venture Partners have led a $7 million funding round in ElasticRun, a Pune-based stealth startup. The financing was completed in two tranches, with the first tranche of about $2 million coming through in April last year. The year-old startup, which has largely been in stealth mode, will use the proceeds to further build its technology infrastructure, on-board talent and expand operations.

Fintech Startup Perfios Raises About $6M from Bessemer VP

Bengaluru-based fintech firm Perfios has reportedly raised $6.1 million (INR 40 Cr) in Series A funding round from Bessemer Venture Partners. “We will use the funds for three core areas -team expansion from our current strength of 55 people, international expansion by strengthening our presence in the UAE and Southeast Asia where we already serve clients, and potential acquisitions,“ Govindarajan said.

FastFox.com Raises Rs. 30 Cr in Series A Funding

FastFox.com has raised Rs. 30 Crore from Lightspeed India Partners, Blume Ventures, CyberAgent Ventures and others in Series A financing. FastFox.com is India’s first tech-enabled rental brokerage company. 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. The company 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.

Lending Platform CASHe Raises Rs 25 Cr in Series A Funding

Aeries Financial Technologies Pvt. Ltd., a fintech company promoted by serial entrepreneur and private equity investor Mr. V. Raman Kumar, today announced that CASHe, India’s growing app-only lending platform for young professionals has closed a series A funding from investor group led by Mr. Mathew Cyriac and advised by Florintree Advisors. The funding will further increase CASHe’s scale of business and solidify its position as the leading app-only lending platform. The company also announced that it has appointed Dr. Pulak Ghosh and Mr. Mathew Cyriac to its Board of Directors.

Whatfix Gets Rs 24 Cr in Series A Round Led by Stellaris

Bengaluru-based startup, whatfix has raised $3.69 Mn (INR 24 Cr) in Series A funding led by Stellaris Venture Partners with the participation of existing VC investors Helion Venture Partners and Powerhouse Ventures. The Bengaluru-based company will use the capital to strengthen R&D and aggressively grow its presence overseas, especially in the US where 60% of its existing customers are based.

Ready-to-Cook Fresh Food Solutions Brand Fingerlix Raises $3M in Series A Funding

Fingerlix, the fresh, ready-to-cook food solutions brand targeted at today’s progressive home makers has scaled a significant milestone by raising $3 million from Zephyr Peacock (ZP)in its Series A round of funding. After having successfully made its presence felt in a few parts of Mumbai, Fingerlix had recently branched out in Pune and had also launched a new delicacy, PuranPoli to further diversify its product portfolio. The fresh capital comes at the perfect juncture in Fingerlix’s growth trajectory and will be leveraged to further intensify its operations in Mumbai, expand into newer geographies of Pune and Bengaluru and build on its highly successful product line, besides hiring new talent to scale up the team.

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

Chennai-based fresh-produce distribution startup WayCool has secured $2.7 Mn from early-stage venture capital firm Aspada Investments.

Gurugram-based Twenty Two Motors Pvt Ltd has raised $1.6 Mn in a Pre-Series A round of funding led by Ishwar Singh, CEO, Haryana Industries.

Online budget hotel brand and booking platform RedDoorz has raised $1 Mn venture debt from InnoVen Capital.

Sanjeev Kapoor’s online store for kitchen products, Wonderchef has received an undisclosed investment from French group Labruyere Eberlé.

Cricketer Yuvraj Singh’s investment fund YouWeCan Ventures has invested an undisclosed amount in Gurugram-based Startup Buddy. With this move, Yuvraj will join the company’s Board.

Noida-based online healthcare startup QorQL has secured an undisclosed amount of funding from ecommerce and payments platform Paytm.

Bengaluru- and Singapore-based data analytics startup DataWeave has secured an undisclosed amount in funding from Japanese ad-tech company, FreakOut Group.

NanoSniff Technologies Pvt. Ltd, an IIT Bombay-incubated company, has raised $300,000 (Rs 2 crore) from crowdfunding platform 1Crowd and its investor community.

Delhi-based healthcare tele-consultation platform Konsult App Pvt Ltd has raised $500,000 (Rs 3.25 crore) in two rounds of seed funding from a consortium of investors from the US, the UK, Netherlands and Australia.

Intercity logistics marketplace Trukky is raising $500,000 (Rs 3.25 crore) in a pre-Series A funding round from existing as well as new angel investors.

Enterprise IoT solutions startup Tyre Express has raised an additional undisclosed amount in seed round from Rohitash Gupta, CFO of a BSE-listed knowledge process outsourcing company.

Mumbai-based Edtech startup Testbook.com has raised an undisclosed amount of Series A funding from Matrix Partners India.

Capital International Inc has acquired a 3% stake in Ahmedabad-based Intas Pharmaceuticals Ltd.

Online counselling startup GrowthEX has raised an undisclosed amount of funding from a clutch of angel investors.

Top 10 Startup Funding This Week [27 March - 01 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.

Dropbox to Raise $600M Credit Line Led by JPMorgan

Dropbox Inc. is raising a $600 million credit facility from six banks led by JPMorgan Chase & Co., reported ET, as the cloud file-sharing startup pushes toward an initial public offering as soon as this year. The San Francisco-based startup has been meeting with bankers to discuss plans to list, people familiar with the talks said. While the company hasn't set specific timing, potential advisers believe it will be ready to go public by the end of this year.

Greenko Energy Raises $155M from GIC, ADIA

Renewable energy firm Greenko Energy Holdings Pvt Ltd has raised $155 million (around Rs 1,008 crore) from existing investors Singapore’s sovereign wealth fund GIC and Abu Dhabi Investment Authority (ADIA). The firm will use the funds to expand its clean energy portfolio to 3 gigawatts from 2GW. The funds will contribute to the continued growth of Greenko’s platform through the development of new renewable energy projects, including recently-acquired solar projects, and expansion of existing wind farms.

Cloud Based Enterprise Software Firm Icertis Bags $25M

Cloud-based enterprise software firm Icertis Inc has raised $25 million (Rs 175 crore) in a Series C funding round led by B Capital Group, taking the total it has received so far from investors to $46 million (Rs 300 crore). Existing investors Ignition Partners, Greycroft, e.ventures and Eight Roads Ventures also invested in the new round. The development comes exactly a year after the firm raised $15 million in its Series B round.

Bengaluru Based Gourmet Meat Brand Licious Gets $10M in Series B Funding

Bengaluru based leading gourmet meat brand, Licious, run by Delightful Gourmet Pvt. Ltd, announced today that it has secured $10 million in a Series B funding round led by Mayfield India, 3one4 Capital, Sistema Asia Fund and Neoplux Technology Fund. The investment is expected to boost business growth for the company and facilitate its expansion plans in other markets like Hyderabad and Delhi-NCR. In a highly commoditized space, this investment will fuel the company’s innovation efforts which have helped the brand achieve a differentiated consumer perception in a short time.
BigBasket Raises Rs 45 Cr Venture Debt from Trifecta Capital

Online grocery retailer BigBasket has raised ​ Rs 45 crores of venture debt from Trifecta Capital. The funds will be used to meet the capex requirements of the company including setting up new warehouses, strengthening the cold chain and setting up facilities for reprocessing of fruits & vegetables.

GVFL Invests $4.6M in Ahmedabad Based Varmora Plastech

Venture capital firm GVFL Ltd (formerly Gujarat Venture Finance Ltd) has invested Rs 30 crore ($4.6 million) in Varmora Plastech Pvt Ltd (VPPL), a homeware manufacturer. VPPL will use the proceeds to further expand its product range and market reach. The company sells its products under the brand Varmora through 75 distributors. It also uses retail and online channels to export its products outside India.

Solar Power Solutions Startup Oriano Gets $3M

Oriano Solar, a Mumbai-based startup that specializes in turnkey solar solutions, has raised Series A funding worth $3 million (around Rs 20 crore) from Samridhi Fund, which is managed by SIDBI Venture Capital Ltd, a wholly-owned subsidiary of Small Industries Development Bank of India (SIDBI). The company will use the fresh capital to expand its project management and business development teams in addition to establishing offices across India.

M Power Gets Fresh Capital from IndiaNivesh

Non-banking finance company M Power Micro Finance Pvt Ltd. has raised Rs 18 crore in equity capital in a deal that involved both primary and secondary transactions.

Fintech Platform Perpule Raises $650K from Kstart and Others

Kstart Capital, a Kalaari Capital initiative, has invested in Perpule. Kstart led the $650,000 round that also saw participation from Venture Highway and Raghunandan G, co- founder of TaxiForSure.

Perpule aims to provide an enjoyable queue-less experience for people wherever they go. They have started with solving the problem of queues at retail stores like HyperCITY, etc. and are doing it in 3 cities Bangalore, Mumbai & Noida. Their vision is to enhance the shopping experience of customers in-store, by making it more engaging and personal. The smartphone-based software solution can be scaled across various retail outlets and provides retailers deep insights about their customers allowing them to create personalized real-time campaigns. Perpule is founded by Abhinav Pathak, Saketh BSV, and Yogesh Ghaturle.

Fashion eCommerce Portal Fynd Raises $500K in Series A Round from Venture Catalysts, Others

Identifying promising business ventures and providing them with the right opportunity has become the trademark of investors at Venture Catalysts, Indian seed investment and innovation platform. The platform has now participated in Series A funding round of Fynd, the fashion e-commerce portal with $500k.

Fynd is an online to offline e-commerce fashion marketplace. The platform is also the only fashion e-commerce portal in India which makes the in-store inventories available online before any other e-commerce networks.

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

Mumbai-based Traveljunkie Solutions Pvt. Ltd, which runs travel-tech startup Ithaka, has raised Rs 2.1 crore ($325,000) in seed funding from a clutch of angel investors based in the US, Singapore and India.

Mumbai-based Jhakaas Technologies Pvt. Ltd, which runs the Jhakaas app that aggregates local offline businesses, has raised Rs 1 crore (around $154,000) in seed funding from a clutch of investors.

Craft beer maker B9 Beverages Pvt Ltd has raised a round of growth capital from one of its existing investors.

Regional smartphone operating system Indus OS has raised funding of an undisclosed amount from new investors Ventureast and JSW Ventures.

Bengaluru-based FalconBrick Technologies Pvt. Ltd, which owns a mobile-based solution for accelerating construction projects, has raised an undisclosed amount in an angel round by Singapore Angel Network.

Gurgaon-based e-diagnostic startup Elite Tech Healthcare Pvt Ltd, which runs KlinicApp, has raised an undisclosed amount in seed funding from Om Chaudhry, the founder of private equity fund Fire Capital, to develop its technology platform and product.

Bengaluru-based waste management services provider Hasiru Dala Innovations Pvt. Ltd. has raised an undisclosed amount of funding from Ennovent Impact Investment Holding.

Edtech company BYJU's has raised additional funding from Belgian-based diversified investment holding company Verlinvest.

Sports engagement platform Rooter has raised an undisclosed amount of funding from electronic goods and accessories manufacturer Intex Technologies.

Kolkata-based complete cold logistics and supply chain service provider Crystal Logistic Cool Chain Ltd has raised its first private equity funding of $10 Mn (INR 66 Cr), led by Neev Fund.

Bangalore-based luxury fashion platform Zapyle has raised an undisclosed amount in a bridge round of funding from its existing investors.

Delhi-based machine intelligence-based personalisation platform, Wigzo Technologies, has secured an undisclosed amount of funding in a round led by existing investor 3one4 Capital.

Online food ordering startup Swiggy.com is said to be in talks to raise at least $50 million (around Rs 325 crore) in fresh funding.