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.
BookMyShow: The company has recently announced that it has raised Rs 500 crore from US-based Stripes Group, Network 18, Accel Partners, and SAIF Partners which is its biggest capital influx so far. BMS, which was launched in 1999 and then re-launched in 2007, successfully cornered the film ticket booking market in the past few years. With this funding BMS will target international markets with Indonesia and Sri Lanka on their radar.
seeDoc: One of the India’s fastest growing online medical consultation company, seeDoc has raised around $1 million (around Rs 6.7 crore) in its pre-Series A round of funding recently. The round is led by early stage venture fund YourNest, Sunil Goyal, founder and CEO. The Gurgaon-based company is an app-based online medical consultation platform which offers paid video consultation with doctors. Users can ask questions from doctors or opt for video consultation. It also allows users to get medicines delivered and diagnostic tests done at home, and keeps all medical records organised at one place.
Stitchwood: Mumbai-based customised furniture startup, Stitchwood has raised $200,000 (around Rs 1.3 crore) in its third round of funding from the co-founder of Equity Crest Mr. Deepak Gupta and a bunch of unnamed angel investors, including high-net worth individuals (HNIs). As per the company sources, the funds will be utilized for operations, marketing initiatives, and enhancing customer experience. The startup has plans to raise $400,000 in the third round of funding and have already raised $200,000. They have also got a commitment of another $100,000 more in near future.
WealthTrust: WealthTrust, a Wealth management app, has raised undisclosed seed funding from India Quotient. The company will utilize the raised funds to strengthen the team, ramp up its technology infrastructure, and add more features to its app to enable users to make better investment decisions. Based out in Mumbai the startup was founded last year by Nisarg Gandhi, a former ISRO scientist, and Jasmin Gohli. The app helps users with several options to invest their wealth in, including about 4,000 mutual fund schemes.
Playment: Playment is a Bengaluru-based venture that enables large companies to crowdsource completion of tasks that are typically done by in-house or outsourced teams (BPOs). The firm was recently in the news where Venture capitalist firm Saif Partners announced investment of Rs 4.7 crore in a pre-series A funding in it. The funds will be utilized in building a world class product and engineering team.
SwarmX: The chairman of Manipal Global Education and former CFO and HR head of Infosys, TV Mohandas Pai has invested an undisclosed amount in Singapore-based drone technology startup SwarmX Pte. Ltd. SwarmX Hive, the startups offering, allows users to operate drones with minimal training. With HiveMind OS, users can manage a fleet of drones from a single interface. The startup was founded by Pulkit Jaiswal in August 2015. Jaiswal is a graduate of Stanford University and had earlier co-founded Garuda Robotics.
SpectraVR: A virtual reality content studio SpectraVR has raised an undisclosed amount as seed funding from US-based technology venture capital firm Rothenberg Ventures for its expansion plans. The Mumbai-based firm will use the funds raised for its product development, which includes creating VR-based games for brands, creating travel-oriented experiences, movies and other short-format content. The startup is specialized in producing high-end, 360-degree videos and animated interactive virtual reality-based content.
Purplle: Purplle, an online marketplace for beauty products and spa and salon services, is raising a Series-B round of around $6 million, said a report in The Economic Times. IvyCap Ventures-backed startup will use a part of the raised funds to set up a warehouse in Bengaluru to serve the Southern market. The platform will grow its beauty services business in the spa and salon category which is currently available in 12 cities. The round is seeing participation from JSW Ventures, existing investors and another investor who’s likely to join in, said Manish Taneja, cofounder of Purplle.com.
Trak N Tell: A car tracking solutions startup, Trak N Tell has raised an undisclosed sum of funding from a group of investors which is led by WhatsApp cofounder Brian Acton, according to a report in The Economic Times. As per the report, Acton and two other investors are estimated to have invested about $3.5 million in the Series A round. The Gurgaon-based company will utilize the recent proceeds to expand its presence across the country, scaling up its research and development, as well as for marketing.
RKSV/ Upstox Invest: Online discount stock broker age startup RKSV will soon launch ‘Upstox Invest’, a mobile application to help consumers make goal-based investment decisions. RKSV was launched in 2012 and recently raised $4 million in series A round of funding led by Kalaari Capital and GVK Davix. As per the company sources, the new product app will enable millions in India to achieve their financial goals, for instance, buying a car or a house by so and so date, through an incredibly user-friendly app.
All Things Organic: Recently the company has raised Rs 1 crore in an angel round from Gunjan Soni, chief marketing officer at fashion portal Myntra and SK Tuteja, a former secretary at the department of food and public distribution. The company will use the funds to expand its portfolio of private label brands and grow its marketing network. Launched in September 2015, All Things Organic is a marketplace for organic products and groceries. The marketplace which also retails products from other manufacturers of organic products will also start their subscription-based service.
CureFit: CureFit, a healthcare startup, started earlier this year has raised $15 million from Accel Partners, IDG Ventures and Kalaari Capital. It has not been revealed as to what will the funds be used for. Subrata Mitra, Partner, Accel Partners considers that proactive health management is a large space which requires the right mix of online and offline expertise to master. The company will be launched in 2017 and will provide a platform to its users manage their health proactively through a gamut of service offerings.
Deyor Camps: Deyor Camps, a chain of branded adventure camps in India and a Budget hotel aggregator sees a strategic equity stake by Travel Boutique Online, a travel portal backed by Naspers. Travel Boutique Online, which has more than 19,000 agents, and Deyor Camps will cross-sell each other’s products and offerings. The company also states that Travel Boutique Online will enable its partners to sell branded campsites at more than 45 locations in India. The Gurgaon-based startup was founded by Dheeraj Jain, who is also a partner at UK-based hedge fund Redcliffe Capital, Chirag Gupta, Aakaar Gandhi and Gautam Yadav.
NeoGrowth: NeoGrowth Credit, a specialized lender to small and medium sized retailers, has raised Rs108 crore from IIFL Wealth Management’s Seed Venture Fund besides existing investors, which includes Omidyar Network, Khosla Impact and Aspada in a new round of funding. The development comes in the wake of the investor interest in non-banking finance companies (NBFCs), especially those lending to small merchants and leveraging technology. NeoGrowth Credit was founded by serial entrepreneurs Dhruv Khaitan and Piyush Khaitan started commercial operations in 2013.
Grab.in: Mumbai based Grab.in, a last mile mobile-based company sees an investment from Global logistics service provider Aramex to the tune of Rs 20 crore as part of its ‘Rapid Scaling-Up’ model to strengthen its last-mile delivery service in the ecommerce segment in India. Grab.in is India’s first and leading delivery service for businesses & merchants to bridge the gap between them and its consumer was founded by Jignesh Patel, Nishant Vora and Pratish Sanghvi.
OneAssist: OneAssist Consumer Solutions Pvt. Ltd, which provides protection for credit card, smartphones and payment cards in case of loss or theft, has recently raised an undisclosed amount from venture-debt provider Trifecta Capital. It has not been revealed as to what will the funds be used for. OneAssist was founded in 2011 by Gagan Maini and Subrat Pani.
HappilyUnmarried.com: Delhi based HappilyUnmarried.com recently raised Rs 5 crore ($740,000) more from Info Edge (India) Ltd, which runs a slew of consumer Internet properties such as hiring portal Naukri and real estate website 99acres. With this development, Info Edge’s total investment in the company is now Rs 21.3 crore and it holds about 48% of the firm. It has not been revealed as to what will the funds be used for. Happily Unmarried was established in 2003 by Rahul Anand and Rajat Tuli–both alumni of Mudra Institute of Communications, Ahmedabad.
Flyrobe: Mumbai based online apparel rental firm Flyrobe recently raised Rs11.3 crore (around $1.7million) in seed funding led by Sequoia Capital, regulatory filings show. Snapdeal founders Rohit Bansal and Kunal Bahl, and FreeCharge founders Sandeep Tandon and Kunal Shah also invested in this round. Zishaan Hayath, co-founder of Powai Lake Ventures, and Abhishek Jain, former associate director at Temasek Holdings Advisors India Pvt. Ltd, were the other investors. It has not been revealed as to what will the funds be used for.
OYO: OYO Rooms, budget hotels brand, is raising a fresh round of funding worth Rs 413 crore through a proposed right issue of shares to existing shareholders. OYO was founded by 21-year-old Ritesh Agarwal which had raised its previous round of funding of $100 million in August 2015 led by Japanese telecom and internet major Softbank Corp. The capital infusion is expected to be used by OYO to expand its new initiative called “Flagship”, where it controls 100% of the inventory of the hotel under this category to provide a more premium experience to customers, as reported by The Economic Times.
Don’t Scratch Your Head (DSYH): Saas startup Don’t Scratch Your Head (DSYH) has raised $250,000 in seed funding from Venture Catalysts, led by Gaurav Singhvi, managing partner – Vcats Surat and Zaffiro Venture.The funds will be used to upgrade its technological infrastructure and customer support team to shore up its rapid business growth as told to ET by cofounder & CEO, DSYH, Suraj Vazirani. The Ahmedabad-based company, founded in November 2015, allows sellers associated with multiple marketplaces to reconcile accounts, payments, returned orders, promotional amounts through a single, consolidated window.
Pitstop: Bangalore-based car repair and servicing startup, Pitstop has raised a seed investment from Alex Chua, COO of Singapore based Goldbell Group and Rahul Garg, founder of Moglix and Xoogler. The funding will enable the startup to strengthen its partner base using technology to streamline processes, infrastructure and customer experience; and future growth initiatives. Pitstop was founded in 2015 by Mihir Mohan and Nirant Ramakuru and aims to provide mobile enabled car repair services to owners and service providers. The startup has tied up with various local garages that help users find the nearest dealers as per their budget and convenience.
Quickli: Delivery startup Quickli Technologies, which delivers orders in food, pharmacy, and grocery has raised undisclosed amount in a funding round led by 500 Startups and Asia Ventures Group, participated by all the previous investors. The company had raised an angel round last year from 500 Startups and former Rocket Internet partner Mato Peric. The startup is currently delivering 2,000 orders a day in the Delhi-NCR area and will utilize the capital to enter new geographies including Bengaluru.
NFX Digital: New Delhi-based NFX Digital, which operates gamified consumer insights portal Adytude.com, has raised $1mn in funding from Indian Angel Network (IAN). IAN member Vikas Kuthiala will be joining the company’s board. Besides using the fund in research, the company plans to kick start operations in the UK by the end of this year.
Holachef: Mumbai-based food-tech startup Holachef has raised recently a fresh funding from two of its existing venture capital investors even as food technology as a domain is going through consolidation. The food-tech startup run by Holachef Hospitality Pvt. Ltd that also counts Tata Sons’ chairman emeritus Ratan Tata as an investor, bagged Rs 13 crore ($1.95 million) from Kalaari Capital and India Quotient. Holachef, which was launched by Saurabh Saxena and Anil Gelra two years ago, delivers home-cooked food to consumers. It offers select signature dishes, about 50 choices everyday, and delivers them to users.
AppsDaily: AppsDaily, Mobile app development and distribution company, has recently raised $2 million (around Rs 13.5 crore) in a bridge round of funding led by existing investors Kalaari Capital, Qualcomm Ventures, Russian venture capital fund ru-Net and Zodius Technology Opportunities Fund. The startup focuses on developing and distributing software for mobile phones which include mobile anti-virus, mobile insurance, backup solutions, mobile privacy, SOS, mobile utilities and games.
Overcart: Overcart, a marketplace for over-stocked, unboxed, refurbished and pre-owned products, has raised $3 million in Series A funding from JSW Ventures, Omidyar Network, Sattva Capital and Venture Works. The company plans to invest the fresh funds in hardware and software innovations to diagnose, refurbish and quality check products across more categories and locations. Founded by Alex Souter and Saptarshi Nath, two colleagues from the consulting firm CEB, in 2012, Overcart provides returns management and liquidation services to major e-commerce companies, manufacturers and retailers.
Crofarm: Mukul Singhal and Rohit Jain, former SAIF Partners principals, along with a couple of angels have invested about $1.5 million seed fund in Crofarm. The startup is a brainchild of serial entrepreneurs Varun Khurana and Prashant Jain. The duo previously sold MyGreenbox to Softbank funded Grofers. Launched in April 2016, Crofarm is changing the way businesses procure the agricultural produce by essentially weeding out intermediaries. Currently, it works with Metro, Jubilant Foodworks, Bigbazaar, Grofers and Big Basket among others.
Fulfil.IO: Tech startup Fulfil.IO that helps retailers to fulfill orders across online and offline channels efficiently has raised capital from Google India MD, Rajan Anandan. The Bangalore-based firm will utilize the funds for ramping up sales operations in the US and scaling the product. Fulfil.IO is a set of cloud-based tools for internet retailers to gain visibility into their backend operations and manage everything from procurement to fulfillment in a single tool.
Weddingwishlist: Chennai based Weddingwishlist.com has raised Rs 2 crore from investors such as Facebook India Managing Director Kirthiga Reddy, Multiples Equity founder Renuka Ramanath and CherryTin, among others. The company targets to reach a milestone of 500 wishlists in a year with the current funds. It further plans to scale its operations pan–India and to launch its mobile app in the next few months. The company is also expecting the next round of funding later this year. Wedding Wishlist offers prospective couples a way to start their married lives with gifts and experiences that they not only need, but also will also treasure for a lifetime. Friends and family will also be able to take pleasure in knowing that their gift is functional yet unforgettable.