The need for capital is something that can’t be ignored by any organization, be it a multinational company or a tiny startup firm. The money can come from a bank, in the form of a business loan; from an investor, group of investors, or venture capitalist(s). Here is the list of startups that got funded during the last week.
Yellowdig and Zuppler: A seed funding VC firm, SRI Capital, launched by Sashi Reddi, has invested $1.3 million in two SaaS-based startups – Yellowdig and Zuppler. Pune based Yellowdig, has created a course collaboration software that universities can use as a complement to their current learning management systems. Its list of clients includes University of Pennsylvania, Northwestern and Duke University, among others. Zuppler on the other hand, is the complete order fulfillment platform servicing restaurants, caterers, groceries, sports stadiums, hospitals, hotels, delivery services etc. It targets independent restaurant owners to help them streamline all the technologies through its online platform and take control of all their online customers. Both the companies are now planning to utilize the newly raised funds to scale up and roll out their products in global markets.
ImageProVision: An image analysis startup ImageProVision Technology has recently raised an undisclosed round of angel funding from Satish Jamdar, former managing director of Blue Star, the company said. The Pune-based startup plans to use the raised funds for further strengthening its presence within the pharma sector and tapping into more clients, as well as entering other sectors like biotechnology and medical imaging. The company makes products that enable companies to extract and analyze data drawn from images. It caters primarily to the pharma sector and is ranked nine out of India’s top 10 companies among its clients.
Deal4Loans: The online financial product marketplace, Deal4Loans, operates financial marketplaces, and is engaged in aggregating, marketing and facilitating the sale of loan products and credit offerings from banks and financial institutions. Recently the startup has raised $15 million (about Rs 100 crore) from Franklin Templeton International Services India. The startup is owned and operated by MyWish Marketplaces. Deal4Loans will utilize the funds to develop its wealth management and investment product-related services, in addition to its credit offerings. The company will also use part of the proceeds to further develop its technology as per its press release.
Alterbeat: Newly-launched startup Alterbeat is an organized platform that helps people to pursue their hobbies and passion in alternative fields like art, design, music, etc. It also caters to those seeking alternative careers and addresses apprehensions related to job security and income. The startup was launched in February 2016 and recently announced that it has been chosen for Cohort 3 of MaGIC Accelerator Program (MAP), funded by the Malaysian government. It is the only Indian startup that qualified for the accelerator programme among the 50 startups selected out of 500 applications from across 30 countries.
RentoMojo: RentoMojo, an online rental solutions company, has recently raised $5 million from IDG Ventures and Accel Partners in a first strategic round (Series A). The company is specialized in furniture rental solution and also provides kitchen appliances on rental. The startup intends to utilize the funds to further strengthen the product and data driven structure within the company. Since its inception in November 2014, the Bengaluru headquartered company has expanded to three more cities – Delhi, Mumbai and Pune.
Bluestone: Bluestone, an online jewellery retailer, has raised Rs 200 crore in its fourth round of institutional funding which is led by financial services firm India Infoline Finance Limited (IIFL) and the early backer venture fund, Accel investors. The company has raised capital at a time when its offline rival Titan Co, which sells jewellery under the Tanishq brand, said it has invested Rs 357 crore in online jewellery retailer Caratlane for a majority stake. This recent investment will most likely enable Bluestone compete with its existing competitors like Caratlane.
Dreamworld Digital: Dreamworld Digital, an e-Commerce startup, is in talks with three leading private equity players to raise $5-6 million, to expand its business from apparels business to Bollywood locations tourism. The startup which runs online retail store BollyWoo.ooo (launched in February 2016) is already receiving 20-25 orders per day without much promotion. The company has close to 4,500 active subscribers, out of which 20 percent are returning customers. The company has tie-ups with film producers and gets movie clips and manufactures the outfits worn by actors, by finding the closest matching material. Also, the firm intends to launch Bollywood locations tourism, wherein the company will partner with travel agencies to create custom-made Bollywood theme tours.
Applop: The Gurgaon-based startup, Applop, has received around $250,000 funds so far and is seeking to close the current round at $500,000. The bridge round of funding is led by Gurgaon-based GHV Accelerator. The start-up is looking forward to utilize the current funding on technology development and expanding operations to Southeast Asia along with marketing and brand building. Applop is a mobile app that enables Smartphone users to create and customize their mobile apps without any coding; all under 5 minutes!
NiYO Solutions: A payroll and benefits startup, NiYO Solutions, has raised $1 million from venture capital firm, Prime Venture Partners. NiYO will use the raised funds to expand its tech and sales team to 40 in the next six months. Currently, it follows an invitation-only model, and claims to give a 10 percent pay raise to its client’s employees with the help of HRM software and banks.
Sagacito: A data science and analytics start-up, Sagacito Technologies Pvt. Ltd., has recently raised $10 million from Star India Pvt. Ltd., a subsidiary of Rupert Murdoch’s Twenty-First Century Fox Inc. Sagacito was founded by former BCCL employees Ravi Dhariwal and Arunabh Das Sharma, and aims to help businesses maximize market share and margins through predictive data analysis. Apart from media, Sagacito also intends to focus on healthcare, cargo and logistics, hospitality and consumer products.
Truckola: Truckola, a logistics startup has raised Rs 4 crore in an angel funding round led by Abhishek Agarwal of Fortune Interfinance (FIFL), on deal making platform LetsVenture. The recent round of funding saw participation from other investors such as Krishnakumar Natarajan, executive chairman of Mindtree; Al Hamra Group; Sarath Sura, chairman of GreyCampus; Shanti Mohan, founder of LetsVenture; Sarthak and Nihit Agarwal of Shubhalakshmi Polyesters; and Suramya Gupta, fund manager at a leading Japanese VC Firm. The funds raised will be utilized for scaling up technology and strengthening its service delivery capability. The company primarily focuses on full-truckloads cargo on long distance inter-state routes.
Rhea Healthcare: PG Growth has recently invested $33 million in Rhea Healthcare Pvt. Ltd. for a significant majority stake. Bengaluru-based startup, Rhea Healthcare operates a network of mother and child care centers in India under the ‘Motherhood’ brand. The funds raised will be utilized for geographical expansion and enhancement of treatment options for patients. Motherhood has built a network that offers state-of-the-art technology, including high-end neonatal intensive care units, and a dedicated team of experienced gynecologists, neonatologists, and pediatricians.
MyTaxiindia: MyTaxiindia, a Delhi-based taxi service operator, has raised $1 million (about Rs 6.7 crore) in bridge round of funding from existing investor Nihon Kotsu, a taxi rental company in Japan. MyTaxiindia was formed in December 2013 and offers inter-city taxi rental solutions and provides one-way fare ride to commuters for outstation trips. As per the company sources, the funds will be used for expanding its services to tier 2 and 3 cities and a portion of the sum will also go towards technology development, marketing and branding.
Skrilo: A mobile marketing and rewards platform based out in Gurgaon, Skrilo, has raised $1.5 million (about Rs 10 Crore) from angel investors including Anuj Srivastava, CEO Livspace and Arvind Tiku, chairman of AT Capital Group. The company plans to utilize the funds for marketing its rewards program, developing new products and enhancing its technology. The platform helps businesses to engage with customers and connect with them in a targeted manner. The one-stop rewards platform also gives rewards customers to engage with brands and merchants.
Urdoorstep: An online hypermarket, Urdoorstep.com has recently raised Rs 3 crore from CP Murali, former president and COO of telecom software-maker Aricent Technologies in a bridge round of funding. Incorporated in October, 2015, Urdoorstep plans to cover 92 pin codes for Bengaluru city over the coming two months and aims to have a Pan-India presence in the next six months.
Treebo Hotels: The Bengaluru-based Treebo Hotels, a budget hotel room-booking platform, has raised Rs.112 crore in its Series B funding round led by Bertelsmann India Investments (BII), the strategic investment arm of German media conglomerate Bertelsmann SE and Co. KGaA, as reported by The Economic Times. The existing investors SAIF Partners and Matrix Partners India also participated in the round. The company plans to utilize the funds for its expansion, strengthening its marketing outreach and enhancing its technology.
Wiwigo: An inter-city taxi service provider, Wiwigo.com, has recently raised Rs 4 crore funding from Indian Angel Network (IAN). Wiwigo is an online platform for intercity travel by cab, addressing issues related to highly priced one-way trips. Right from customer booking to vendor bidding and driver selection, car confirmation, car tracking, journey alerts and customer feedback, the entire process is managed with automated workflows. The current funding will help the company expand its operations to over 100+ cities by the end of current year, making it one of the fastest growing companies.
Drums Food: The maker of Epigamia Greek yogurt and Hokey Pokey ice cream, Drums Food International Pvt. Ltd. has raised Rs.44.5 crore in Series A funding, selling a minority stake. The current round of funding was led by Verlinvest, a Belgian consumer-focused private equity group, and DSG Consumer Partners (DSGCP), an early stage venture capital firm run by Deepak Shahdadpuri. Prior investors Fireside Ventures, headed by former Helion Ventures co-founder Kanwaljit Singh; Apurva Salarpuria of the Salarpuria Groups’ and Bollywood actor Kunal Kapoor, founder of crowd funding platform Ketto, also participated in the round. The funds will be used for setting up a new production facility, invest in supply chain and cold chain and also hiring senior executives.
AbeRuk: AbeRuk, a curated online marketplace for used books, operated by Bangalore-based Quarto India Internet Pvt. Ltd. has raised an undisclosed amount in angel funding from Hong Kong-based Swastika Company Pvt. Ltd. The funds will be utilized for scaling up operations, expanding seller base and augmenting the technology backbone. AbeRuk onboards bulk sellers of used books on to its platform after a quality check. Users can look for books under eight categories—educational and professional, entrance examinations, literature and fiction, children and teen, comic and graphic novels, business and management, biographies and autobiographies and history and politics. AbeRuk also supplies out-of-print books on demand.
Qdesq: Delhi based Qdesq is a ‘plug-and play’ workspace rental platform which has recently raised an undisclosed amount of funding from a group of investors that includes Anuraag Jaipuria, director of Jai Drinks, Ruchirans Jaipuria, director of Jaipuria Beverage and Food, and Rishi Kajaria, joint managing director of Kajaria Ceremics. The company will use the funds for expansion, marketing and enhancement of technology. Paras Arora, founder of Qdesq said to ET that they are currently live with 227 venues across Delhi, Gurgaon, Noida, Mumbai and Bengaluru. The spaces are available in two formats — short occupancy, which is meeting rooms, workspace for a day, and long occupancy, which is workspace on monthly basis.
QwikCilver: QwikCilver, Bangalore based Gifting cards solutions provider, has raised $10 million (Rs 67 crore), in a new round of funding of led by Sistema Asia Fund, the proprietary fund of Russian conglomerate Sistema. The recent funding saw participation from its existing investors which included Amazon Asia-Pacific, Accel India and Helion Venture Partners. The company will use the funding to double the value of gift cards and has plans to expand its operations in international markets in Middle East, Southeast Asia and Australia, where it is currently tied up with brands and merchants.
10i Commerce Services: Nandan Nilekani, Infosys co-founder, has invested in an e-commerce startup, 10i Commerce Services recently. The startup seeks to help small traditional shops fight online and organized retailers with the use of technology. With the current funding the Bengaluru-based 10i Commerce Services is aiming to expand quickly across hundreds of towns and cities in India and empower traditional small retail stores with its technology platform ShopX.
SimplyMoveIn: Bangalore-based online marketplace for curated rental properties, SimplyMoveIn, raised an undisclosed amount in angel funding from Hong Kong-based investment firm Swastika Company Ltd. The startup will utilize the funds for hiring team across verticals, marketing, augmenting the technology backbone and for geographical expansion.
Tax2Win: Jaipur based income tax filing portal, Tax2Win, has raised around $1 million from an undisclosed business house. The company will utilize the funds for marketing, research & development, and improving existing technology. The startup was founded in February 2015 by Abhishek Soni, Vertika Kedia, and Shishant Todi. With 40 employees on board currently, the company claims to have over 10,000 users.
iServe Financial: iServe Financial raised an undisclosed amount in seed funding from a group of investors including Nilesh Shah, CEO of Kotak Mutual Fund. The company has plans to utilize the raised funds to further improve its online platform’s reach and penetration to take on its rivals such as BankBazaar and PaisaBazaar. This Pune-based startup runs an online and offline customized financial services and solutions business.
Fingerlix: Shripad Nadkarni, former marketing head at Coca-Cola India is set to launch a food startup – Fingerlix. The new venture has been set up with an initial investment of $1.3 million from Maverix Platforms (Promoter of Fingerlix) and has also brought on board Santosh Desai and few other investors. The startup will sell ready-to-cook foods such as curries, batter and mixes in Mumbai, to begin with.
Dogsee Chew: Dogsee Chew, a natural dog food company based out of Bangalore, has raised $297,000 in an angel round of funding. The current investment round was led by Renu Balyan, and Jyotsna Bapat. The startup will use the raised funds for expansion of product portfolio and exports. The company, which provides healthy and natural dog treats sourced from the Himalayas, currently, has 7 product SKUs and retails in over 20 states in India.