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Investment

Weekly Startup Investment Insights (September 11th to September 18th), 2016

A business without a funding source will flounder under the weight of its own debt and no one wants to face this situation in their businesses. As we know a car runs with the fuel similarly the funding is the fuel on which a business runs. Every startup tries to attract funding for its smooth functioning and for its survival for a long period of time. Here is the list of startups which got funding last week.

1

LEAF: A fresh produce supply chain major, Lawrencedale Agro Processing India Pvt. Ltd., LEAF has raised Series B funding from Denmark-based BESTSELLER Foundation, a global foundation, and US-based venture capital fund, Unitus Impact. The existing Investor Aspada also participated in the current deal. The startup will use the raised funds to expand its footprint across South India and engage within a significantly larger number of horticulture belts. By extensively re-engineering the fresh produce value chain, LEAF has developed a high-quality fresh produce brand in India, empowering farmers, retailers, and consumers.

2

inFeedo: inFeedo, SaaS-based HR Analytics startup, has recently raised an undisclosed amount of funding in an angel round. The current round of investment was led by Dheeraj Jain, partner of UK-based hedge fund Redcliffe Capital and former Google India Operations Head, and Palash Jain. Founded in 2013 by Tanmaya Jain and Varun Puri, inFeedo is an employee feedback platform for companies to crowdsource ideas and solve problems from teams across cities and in-house. The startup aims to reach more than 10,000 paid users by the end of 2016 and is looking to partner with more B2B HR companies.

3

Glam Studios: Glam Studios, a managed marketplace for salons, has raised INR 2 crore angel round from Pradeep Mirani and existing investors, including Aqeel Ahmed, Anand Ladsariya, and Nitin Agarwal. The raised fund will help the startup in its expansion, operations, and technology. The Delhi-based startup undertakes independent salons and brings them under its brand name. The company currently has about 40 salons across Delhi NCR and claims to have 6,000 clients and to have sold 1,000 yearly memberships in the first six months of operations.

4

ShoeKonnect: Based out of Agra, ShoeKonnect, a B2B marketplace for leather products, has recently raised an undisclosed amount in an angel round of funding from Indian Angels Network (IAN). The startup will use the funds in technology enhancement, marketing, brand building and team expansion. The startup connects more than 5,000 footwear businesses on its mobile app and gets requests from Thailand, Pakistan and Bangladesh, among other countries. It claims to get more than 100 product postings daily.

5

Carbon: Carbon, a Silicon Valley startup that is developing 3D printers to produce medical devices and car parts on demand, has recently closed $81 million in funding. Carbon will use the proceeds to fund its first push into international markets and to develop its technology further. Founded in 2013, Carbon claims to print up to 100 times faster than rival 3D printing companies.

6

NewsDistill: Hyderabad city-based news aggregator app, NewsDistill has recently raised $100,000 in seed funding from a group of investors including Ganesh Narasimhan, Ramana Thumu, and Sudhir Mallem. The startup is likely to raise another $100,000 from other investors in the next couple of months. Launched in 2015, NewsDistill aggregates news sourced from various Indian newspapers, television channels, RSS feeds, custom feeds and social media in eight major Indian languages besides English.

7

GoPigeon: Bangalore-based on-demand logistics service provider GoPigeon has raised $1.5 million in a pre-Series A funding round from venture capital investor Nexus Venture Partners. GoPigeon will use the funds for strengthening its team and enhancing technology. The startup is an aggregator of logistics partners and provides on-demand technology enabled end-to-end logistics to ecommerce companies.

8

Nearbuy: Nearbuy, India’s largest local commerce platform, has raised venture debt of INR 15 crore from non-banking financial company BlackSoil Capital Pvt. Ltd. Nearbuy helps you discover the best things to do, eat and buy – wherever you are! From tattoo parlors to music concerts, weekend getaways to international vacations, movie tickets to theme parks, hotel offers to five-star meals, everything you want is now within reach. The funds will be used by Nearbuy in its technology related to customers and merchants.

9

LensPick: LensPick.com, an online eye wear e-commerce portal, has recently raised second round of funding from US-based Scadea Solutions Inc. The startup will utilize the funds for inventory enhancement and technology upgradation. Founded in 2013, LensPick is an online retailer for prescription-based and non-prescription-based eyewear that provides eye testing facility at the doorsteps of its user-base in Hyderabad and Bengaluru and also sends multiple pairs of frames to choose from at the time of delivery to users across the country.

10

Milofy: Milofy, a couple socialising app which is run by Bangalore-based Futuron Systems Pvt. Ltd, has raised $740,000 in seed funding from investment firm Accel Partners. For Accel Partners, this is the first investment in a social networking app in the country. Founded in December 2015, Milofy app aims to organise socialising activities such as outdoor sports, theatre, creative classes, etc., for like-minded couples.

11

Doctor Insta: Doctor Insta, the provider of healthcare consultation through video conferencing, has secured over $1 million from RoundGlass Partners, US-based venture capital firm. The startup will be using the funds for its two new marketing concepts—Health ATM and Insta Wall. Doctor Insta offers app-based voice and video medical consultations that enable its customers to seek consultation from doctors, pediatricians, psychologists and nutritionists for a fee of INR 400 for a 30-minute online/video/mobile interaction.

12

Furlenco: Furlenco, an online furniture rental startup, is raising a new round of investment from existing investor Lightbox Ventures and others. The value of the deal and information about the other investors participating in the deal is not disclosed yet. Based out in Bengaluru, Furlenco was founded in 2012 by Karimpana, a former vice president at Goldman Sachs, with its name Rent Ur Duniya earlier, and later re-branded itself as Furlenco in 2013.

13

Zeroinfy: Zeroinfy, an Ed-tech startup, has recently raised an undisclosed amount of seed funding from Calcutta Angels Network (CAN). Calcutta Angels Network picked a 10% stake in the startup as part of the deal. The startup said it will use the funds to build its marketing and advertising campaigns, develop its app and expand to tier two cities. Zeroinfy follows a marketplace model, listing teachers on its platform. It offers students courses in seven domains—chartered accountancy, company law, actuary, financial analysis, UPSC, IIT-JEE and programming languages.

Chakki: Delhi based Food-tech startup Chakki Pvt. Ltd Idea has received an undisclosed amount of seed funding from the chairman, emeritus of Tata Sons Ltd., Ratan Tata. The startup firm has also tied up with Enablers, a fundraising platform for startups, for its next round of funding. Chakki will utilize the funds to expand its operations to new areas, build its team and strengthen technology. The food-tech startup targets premium restaurants in the Delhi-NCR region, providing them with digital video menus and allowing customers to gift food and beverage experiences through its offering Dash.

14

Findow: Fashion discovery app Findow has secured an undisclosed amount in seed funding from the director of Next Media Works, Raj Singh Bhandal. The raised funds will be utilized to promote the brand in metros and key tier-two cities where luxury shopping is growing at a faster pace. Findow App introduces shoppers to different brands, boutiques, retailers, designers and stylists and also helps shoppers locate fashion retail stores and purchase offerings from designers.

Stoodnt: An educational-technology firm, Stoodnt, which facilitates interaction between students and admission counsellors or educational institutions, has secured $300,000 in a seed funding round led by Google India managing director Rajan Anandan. Stoodnt will utilize the raised funds to enhance its product capability, user experience, and its sales and marketing teams. The company claims to offer its services to more than 1,000 students so far and has helped students get admitted in world-renowned institutions such as Harvard, Stanford, Yale and Cornell. The services offered include college selection, application, interview preparation, financial aid and visa guidance.

17

Makkajai: Makkajai Edu Tech Pvt. Ltd, an ed-tech firm based out in Pune,  has secured $250,000 in seed funding from a clutch of investors, including Ananth Narayanan, CEO of Myntra and Anand Chandrasekaran, former chief product officer at Snapdeal. The round was also participated by other investors including, Mekin Maheshwari, former chief people officer at Flipkart; Ravi Garikipati, head of engineering at Flipkart; Divyesh Shah, CEO of Indiabulls Ventures; and Hong Kong-based Swastika Company Ltd that invests in India and Africa. The funds will be used to develop its technology, design and marketing teams.

Weekly Startup Investment Insights (September 11th to September 18th), 2016
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