Enterprise cloud platform Nutanix Inc’s shares showed a 130% jump at close of business. It was the best first day pop for a tech startup since Castlight Health Inc. gained 149% in June 2014, and overall the largest since Seres Therapeutics gained 186% in June 2015, with their respective IPOs.
In another development, Matrimony.com Pvt Ltd, which owns Bharatmatrimony.com revealed its plans to get listed by November. The company had already filed a draft of its red herring prospectus with SEBI in August last year.
This week 26 startups raised about $42.5 Mn in funding altogether. (Funding amount is based on the startups that disclosed their funding.)
Startup Fundings of The Week
Indian Gifts Portal: Online gifting platform Indian Gifts Portal (IGP) secured $2 Mn from Naveen Arya, promoter, Karamchand Appliances and Tarun Joshi, Director, PE firm, 3i. The funding will be used to develop machine learning technology and to scale up senior management.
Muhuratmaza: Pune-based online puja booking service Muhurtmaza raised an undisclosed amount of Seed funding from a US-based HNI investor. The startup will use the funds towards scaling up its presence and promotional activities.
AppsDaily: Mobile app development and distribution company, AppsDaily Solutions Pvt. Ltd raised $3.75 Mn from existing investors and founders of the company. Existing investors that participated in the round include Zodius Capital, Kalaari Capital, Qualcomm Ventures, Russian venture capital fund, Ru-Net, and Mumbai Angels. The newly raised capital will be used to scale its growth plans.