apital requirement of any business organization cannot be ignored at all. Every company, big or small, tries to attract more capital for its growth and development. The last week was very good for many Indian and other country startups with respect to their funding. Here, we have the list of startup firms that got funding last week.
Nykaa: Online luxury beauty retailer, Nykaa.com, has raised INR 82 crore in a fresh round of funding. The recent round of funding was led by Sunil Munjal and the Mariwala family, cementing interest from affluent Indian families in a rapidly growing ecommerce market space in the country. The startup will use the funds to expand its operations and add more brands under its label and also have plans to open more retail stores besides its core online market strategy. Founded by investment banker-turned entrepreneur Falguni Nayar, the luxury retailer sells 400 brands and 35,000 products across various categories.
Inuxu: Fork Media, Ant Farm India-backed digital media company, has acquired a majority stake in Pune-based ad-tech firm Inuxu Digital Media Technologies in a cash-and-equity deal of $3 million. With this transaction, Fork Media gets 51% equity in the company keeping Inuxu as an independent entity which will develop products for Fork Media. Inuxu, ad-tech company, which works with publishers and brands, will be launching its suite of products in Southeast Asia.
Poshtick: Poshtick, health and wellness startup, has raised $450,000 from Noida-based HNIs Bhavya Sharma and Amit Nagar. The company’s eponymous mobile application is in the development stage and will be launched early next year as per the sources. Poshtick is an idea of Pranav Sharma and Kritik Thakur which aims to create snacks that are seen as healthy midmeal snack options. The raised funds will be utilized for product development, developing human resource capabilities and creating an effective supply chain mechanism.
Purple Style Labs: Mumbai-based fashion house Purple Style Labs (PSL) has recently raised INR 3 Crore from Calcutta Angels Network (CAN), LetsVenture, an online funding platform, some Indian Institute of Technology Bombay (IITB) graduates and a clutch of former bankers. The startup will use the seed funding to beef up its team of designers and stylists along with developing technology. Purple Style aims to manage multiple designer brands in the premium, luxury and affordable retail segments and has integrated over 30 designers and stylists under their umbrella across eight cities in India and has achieved 300% annual growth for the designers.
Byju’s: Byju’s, education technology company, has recently raised $50 million round of funding led by the philanthropic organization set up by Facebook’s founder Mark Zuckerberg and his wife Priscilla. The funding round was also seen the participation of existing investors Sequoia Capital, along with Sofina, Lightspeed Ventures as well as Times Internet Ltd. Byju’s is planning to expand its user base in India and also plans for an international expansion which will take 18 months with the infusion of these funds.
AlternaCare: Health tech startup AlternaCare has recently raised $500,000 in a seed round from Eros Labs. The company will be investing the recently raised funds into its product development, building out its team, branding within its relevant target audience and geographic expansion into key language markets. Launched in January 2016, AlternaCare provides remote consultation to patients over multiple platforms like phone, video call, SMS and Whatsapp.
Capillary and Simplilearn: Social CRM startup Capillary Technologies and Ed-tech company Simplilearn Solutions has recently bagged INR 40 crore in a funding deal. The deals come after both Capillary Technologies and Simplilearn have closed rounds of equity financing. Capillary raised $45 million in its Series C round led by private equity major Warburg Pincus, Simplilearn raised an undisclosed sum from Brand Capital, the investment arm of the Times Group.
Swiggy: Amazon India is planning for an investment in Swiggy, an online food delivery startup, and has held several rounds of discussions recently. Founded by BITS-Pilani alumnus Sriharsha Majety, the CEO, along with Rahul Jaimini and Nandan Reddy, Swiggy is regarded is one of the stronger players in a market which has seen several casualties. With its core value proposition of dedicated delivery fleet to fulfil orders and a zero minimum order, Swiggy is currently focussing on expanding its restaurant base across cities and to break even at an operational level.
Zilingo: Fashion and lifestyle marketplace which is based out in Singapore, Zilingo has raised $8 million in Series A funding. The funding round was led by its existing investor Sequoia India, Indonesia’s Venturra Capital and Hong Kong-based Susquehanna International Group. Other participants of this funding round include Singapore-based Wavemaker Partners, Japanese incubator and venture capital firm Digital Garage, and existing investor Beenext Ventures. The startup will utilize the raised funds to expand its business into Indonesia as well as strengthen its presence in Singapore and Thailand.
Lucideus: Lucideus, an IT Risk Assessment and Digital Security Services startup has recently received angel funding from Motilal Oswal Private Equity’s director, Amit Choudhary. With the raised funds the startup wants to expand its operations and the team from its present strength of 70 to 100 by year end. Lucideus has provided end-to-end security for RBI’s recently launched UPI mechanism apart from boasting of big names like Coca Cola, ICICI Bank, Indigo, Tata Sky in its client roster.
Suryoday Micro Finance: Suryoday Micro Finance, small finance bank licensee, has bagged INR 30 crore from a private equity firm Gaja Capital. This is the third latest investment of Gaja Capital. Other investors who participated in this round include IDFC Bank, Ask Pravi, HDFC Standard Life Insurance and Arpwood Investment Advisors LLP. Suryoday Micro Finance, the PE firm, which manages assets of about $500 million across its three investment vehicles, part-exit two of its portfolio companies – private sector bank RBL Bank and staffing services firm TeamLease Services – both through the initial public offering route.
Freshboxx: Freshboxx, an agri-based startup which is based out in Hubli, has recently raised an undisclosed amount of angel funding from serial entrepreneur and angel investor Ravi Linganuri. Freshboxx will use the funds in strengthening its team, enhancing its technology and infrastructure, and expanding further in the state of Karnataka. Launched in December 2015, Freshboxx, the e-commerce platform focuses on selling farm fresh fruits and vegetables through its platform, and is currently operational only in Hubli in Karnataka.
CheersOye: Gifting and Social payments platform CheersOye has raised an angel round of funding from a clutch of HNI investors. The startup was founded in 2015 by Ex-Yahoo analytics lead Bhavna Lalchandani and ex-Zee Digital marketing expert Rahul Shrivastava. CheersOye’s online platform allows users to pay via an app for instant personalised experiences or send the same to a friend’s mobile instantly via e-vouchers. The platform is currently live only in the F&B and Spa & Salon segments and soon it will be expanding to the other mentioned genres with the funds received.
Burger Singh: Burger Singh owned by Tipping Mr Pink Pvt. Ltd., Gurgaon-based burger chain, has raised an additional fund taking the total amount to $1 million in FY 2016. The startup will use the funds to expand its geographical boundary beyond Gurgaon region. The current round of funding was also participated by exiting investors Ashvin Chadda, Rahul Singh (Beer café), Dheeraj Jain (Redcliffe Capital), Rannvijay Singh (MTV Roadies), Capt. Salim Sheikh (ex -Sayaji Hotels Ltd) and Avtar Monga (COO of IDFC Bank). Burger Singh looking to make its mark in the fast-growing burger market, which is currently dominated by biggies like McDonald’s and Burger King.
Lenskart: Premji Invest, the investment office of Azim Premji, Chairman and Founder of the Wipro Group, has recently invested in eyewear marketplace Lenskart. The amount of funding is not disclosed. Premji Invest, the fund was founded in 2006 and has so far funded more than 40 companies across sectors such as technology, consumer and retail, healthcare, and financial services. Founded in 2010, Lenskart is present in over 100 stores across more than 66 cities in India.
California Burrito: With an intension of expansion, fast casual Mexican restaurant chain California Burrito has raised an undisclosed amount of funding from existing investor, SNAM Solutions and Adhvith Dhuddu. The startup was founded in 2006 by three Americans, Bert Mueller, Dharam Khalsa, and Gaelan Connell. The current funds raised will be used in expanding its business, scaling supply chain, and improving the delivery experience. California Burrito will have 40 stores in India by the first quarter of 2018.
Mad Street Den: Mad Street Den, an artificial Intelligence startup, has recently raised its Series-A funding from Sequoia India and existing investors including Exfinity Ventures and growX Ventures. With the recently raised funds, the company plans to expand into the global market and also build its core computer vision platform. Launched in 2013, Mad Street Den was first based out of Chennai, but now has a physical presence across the US, Europe, and India with employees who are a mix of neuroscientists, data scientists, computer vision experts, marketers, and designers.
TopRankers: TopRankers, a Bangalore-based online test preparation startup, has secured $670,000 in angel funding from CareerNet Consulting Pvt. Ltd and Ideation Initiative Pvt. Ltd. The company will use the funds for improving technology and geographic expansion in India. Founded in 2014, TopRankers is an online preparation portal for competitive exams that provides study material and practice tests.
Prozo: An online market to buy and sell books and other study material, Prozo.com has raised seed funding of $205,000 from a group of investors that include Nalin Jain, president and CEO of GE’s transportation businesses; Shomil Pant, head strategy at Wockhardt Pharmaceuticals; Dinesh Kundu; an unnamed McKinsey & Co director and other angel investors. The company will use the funds in talent acquisition, marketing and mobile app development. Founded in 2015, Prozo is an aggregator and marketplace for all types of exam preparation content and mentorship programmes.
eShakti: Chennai-based online women’s apparel retailer, eShakti Pvt. Ltd has raised fresh funding of $1.34 million through a preferential allotment of shares. The funding round was led by Infina Finance Pvt. Ltd, an investment firm jointly controlled by Kotak Mahindra Bank and its promoter Uday Kotak in his personal capacity and participated by Financial services provider Polaris Banyan Holding Pvt. Ltd. Founded in 1999, eShakti began as a website offering basic cottons and embellished pieces and now focuses on made-to-measure and made-by-design mainstream fashion clothing for women.
NovaPlay: A gaming platform startup Nova Gaming Ventures which is based out in Gurgaon, is in talks to raise $5 million to fund its expansion plans with multiple investors. Launched in April 2016 as a gaming platform, NovaPlay is now looking to expand into mobile gaming space. NovaPlay is India’s first of its kind gaming platform that enables gaming enthusiasts to discover and legally purchase and download games.
BigStylist: BigStylist, a Mumbai-based beauty and wellness services marketplace, has raised $900,000 in a fresh round of funding from Info Edge. BigStylist was founded in July 2015 by IIT Kharagpur graduates where customers can place orders and get access to experienced stylists and beauticians through the website, WhatsApp or their Android app.
BuildTraders: BuildTraders, an ecommerce-based building materials trading company, has raised recently $200,000 in seed funding from UAE-based Idein Ventures. The company will utilize the funds to enhance its technology, infrastructure and strengthen its supplier base. Launched in April 2016 by Ranjeet Gakhare, BuildTraders aims to make the process of building homes hassle free for both individuals and builders by providing a one-stop solution for curated construction materials procurement.
NoBroker: Bengaluru-based peer-to-peer rentals venture, NoBroker Technologies Solutions has raised an undisclosed funding from an angel investor, former Airtel and Snapdeal Chief Product Officer Anand Chandrasekaran. Founded in 2013, NoBroker allows customers to bypass the ubiquitous middleman from all property-related transactions, and operates on subscription-fee model. Chandrasekaran also invested Silicon Valley-based startups and made between 10-12 investments in the current calendar year.
Mihup: AI based personal mobile assistant app Mihup Communications Pvt Ltd, has recently raised $6.7 million from Accel Partners. With this investment, Accel is picking up close to 20% stake in the company. The startup plans to use the funds to develop the software and hardware of Mihup’s speech recognition system and man-machine interface and the final product is expected to be launched by October 2016.
StalkBuyLove: Fabindia’s MD William Bissell has invested an undisclosed amount in online fast fashion brand StalkBuyLove. This is an extension of the e-tailer’s last round of funding when it had raised about $1.5 million from Silicon Valley incubator 500 Startups and German venture fund Littlerock earlier this year. StalkBuyLove plans to use fresh capital to spur growth and improve its supply chain, fulfillment network and hire fresh talent in its design team. started in 2013, StalkBuyLove sells clothes and accessories for women and claims to have operating margins of more than 70% since it sells private labels only.
Social Quotient: A startup with a social cause, Social Quotient has recently bagged an undisclosed amount of funding from the designer Anita Dongre and son Yash Dongre along with Milind Sarwate, former CFO of Marico and founder of Increate Value Advisors. With this investment transaction, Yash Dongre has been appointed as director of the company and will play an active role in the growth plan, while Milind Sarwate has joined the advisory board. Founded by Samyak Chakrabarty and Deep Master, Social Quotient is a group of social enterprises in the domain of water, digitisation, social cause marketing, renewable energy, skill development, education, rural development, agriculture and e-governance.
Renowala: Renowala.com, Hyderabad-based on-demand marketplace for home improvement services, has raised a second round of seed funding from FMCG veteran Pradeep Dhobale. With an undisclosed amount of funding, Dhobale, who is a former ITC executive and an active angel investor, picked a 6.25% stake in the firm. The company claims to have 1,000 service providers from Hyderabad and 300 from Bangalore on its platform and plans to have a pan India presence by 2017.