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 Avi Networks. The California-based application delivery platform raised $60 Mn in Series D financing from Cisco Investments along with DAG Ventures, Greylock Partners, Lightspeed Venture Partners, and Menlo Ventures in an oversubscribed round. The startup aims to continue its efforts to deliver elasticity, intelligence, and multi-cloud capabilities to enterprises.
This week 15 startups in the Indian startup ecosystem raised around $80.2 Mn in funding altogether and two startup acquisitions took place. (The startup funding calculations are based on the startups that disclosed funding amount.)
Indian Startup Funding of the Week
ClearDekho: Delhi based budget eyewear brand, Clear Dekho raised $297.7K (INR 2 Cr) in a pre-Series A funding round led by Venture Catalysts. Prominent investors such as Samyakth Capital, Windrose Capital, Krishnan Akhileswaran of Apollo Hospitals, and Yogesh Chaudhary also participated in the round. The startup plans to use the funding to fuel their expansion, strengthen back-end and to boost their marketing initiatives. ClearDekho further plans to launch 100 stores before December 2018 and have 500 stores operational across India within the next two years.
Crowdera: California and India based fintech startup Crowdera raised an undisclosed amount of funding as a part of its current Pre-Series funding round. Anil Advani (the Silicon Valley startup attorney), Pramod Jain, Amrendra Reddy and Manish Satnaliwala( angel investors from Singapore) and Anand Daga (SME IPO specialist from Central India) were the prominent investors in this round. The startup plans to use the funding to propel the early stage growth and amplify the overall impact by enhancing the product, and scaling customer success activities.
DigiConnectt: Bengaluru-based analytics and AI company DigiConnectt raised $125K in a Seed funding round from the US-based transport management solutions leader Aspire Logistics LLC at a pre-market evaluation of $5Mn. The startup will invest the funds towards product innovation, for team expansion and to consolidate its research capabilities.