Jabong has expedited sale process as owners AB Kinnevik and Rocket Internet are reluctant to invest more into the company in a gloomy eccommerce market. The company is in initial talks with online retailer Snapdeal, Aditya Birla Group’s fashion portal abof.com and Flipkart.
This week, 22 startups raised about $119 Mn in funding altogether (the funding amount is based on the startups that disclosed their funding amounts).
Startups That Raised Funds This Week:
Pitstop: Car repair and servicing startup Pitstop raised an undisclosed amount of seed funding from Alex Chua and Rahul Garg. With the newly raised funds, the startup aims to strengthen its partner base, using technology to streamline processes, infrastructure and customer experience, and expand its operations to other markets including Mumbai, Pune, Chandigarh, Chennai, and Hyderabad, over the next quarter.
SpectraVR: Virtual reality content studio SpectraVR raised an undisclosed amount of seed funding from Rothenberg Ventures. The funds raised will be used for product development, which includes creating VR-based games for brands, travel-oriented experiences, movies and other short-format content.
Quickli: On-demand delivery startup Quickli raised an undisclosed amount in follow on round of funding, led by 500 Startups and Asia Ventures Group. The raised funds will be used for expanding in New Delhi and other cities.