We bring to you the latest edition of Funding Galore: Indian Startup Funding of the week.
One of the biggest funding round this week in the Indian startup ecosystem was raised by Pine Labs. The company raised $125 Mn in funding from Temasek and PayPal Holdings. It now looks to expand its product suite and building new layers of services for merchants, banks, and other communities in the payment ecosystem.
Also, FreeCharge founder Kunal Shah raised a $30 Mn funding led by Sequoia Capital in participation with multiple foreign investors.
Leaving aside the $125 Mn Pine Labs funding round, this week 14 startups in the Indian startup ecosystem raised around $140 Mn in funding altogether and four startup acquisitions took place. (The startup funding calculations are based on the startups that disclosed funding amount.)
Indian Startup Funding Of The Week
Qtrove: This was the second biggest Indian startup funding round this past week. Bengaluru-based curated marketplace QTrove raised $51.57 Mn (INR 350 Cr) in funding from Springboard Ventures, an investment arm of Bennett, Coleman & Co Ltd (BCCL). The startup plans to use the funding for its next level of growth, to further intensify their marketing, customer acquisition efforts and vendor network through BCCL’s stable of print, television, radio and digital media.
MobileWalla: This was the third biggest Indian startup funding round this past week. Kolkata-headquartered MobileWalla, the US-based next-generation consumer data company, raised $12.5 Mn in a Series B funding round. The investment was led by New York-based GCP Capital with participation from its existing investor, Madrona Venture Group, and a new investor, ATW Partners. The startup is looking to grow its data science team, enhance its ability to take strategic data acquisitions from partners, and make them even better and more precise.