We bring to you the latest edition of Funding Galore: Indian Startup Funding of the week.
In one of the biggest funding round this week in the Indian startup ecosystem Swiggy secured $210 Mn in a Series G funding led by existing investor Naspers and new investor DST Global. The round will also see participation from Swiggy’s existing shareholder, Meituan-Dianping, and a new investor, Coatue Management. With the latest round of funding, Swiggy marks its entry to the Unicorn club. Soon after, reports also surfaced around Zomato which is said to be in talks with its existing investors Ant Financial and Temasek to raise a $400 Mn funding round.
This week 13 startups in the Indian startup ecosystem raised around $271 Mn in funding altogether and one startup acquisitions took place. (The startup funding calculations are based on the startups that disclosed funding amount.)
Indian Startup Funding Of The Week
Wicked Ride: Bengaluru-based bike rental platform Wicked Ride raised $8.98 Mn (INR 60.9 Cr) in the latest funding round led by venture capital firms Sequoia Capital and Accel Partners. With the support of Sequoia and Accel Partners, the startup looks to support its expansion plans against its increasing number of competitors. Currently, Wicked Ride offers around 65 to 100 bikes at 36 out of 42 metro stations across Bengaluru.
Noble House: Delhi-based HRtech startup Noble House raised $734K angel funding from HR and Business leaders based in Singapore and India. The startup is now looking for a Pan-India and Asia expansion before they start exploring the other geographies across the globe. The funding will also help the company enhance its technology platform and accelerate hiring to create a wider outreach.
Pivotchain Solutions: Pune-based data science startup Pivotchain Solutions raised $290 K (INR 2 Cr) from the full stack fintech platform, Mobikwik. Pivotchain is a Predictive Analytics startup and has built exclusive AI and deep learning models for MobiKwik. These models will be instrumental for MobiKwik as it rolls out numerous lending products to address the credit requirements of its user base. The startup looks forward towards working with MobiKwik, to deliver the right lending solution across the user base.