Early-stage technology investor firm, Blume Ventures marked the final close of its second fund at $60 Mn. Last December, it announced the first close of $30+ Mn for the fund. ICONIQ Capital, Mark Zuckerberg – participated in the first close as lead investor. About one-third of the total money that Blume Ventures has raised has come from domestic investors including IIFL Wealth Management Ltd and the government’s India Aspiration Fund, administered by the Small Industries Development Bank of India (SIDBI). Also, some other domestic family offices and founders of companies have backed it as well.
Property consultancy firm JLL India launched its investment undertaking, JLL India Real Estate Technology Ventures. The investment vertical is led by Anuj Nangpal and will focus on startups based in the real estate sector, working in the areas of technological innovation and development.
As its maiden investment, JLL India Real Estate Technology Ventures backed a 3D AR/VR startup called Foyr. Headquartered in Hyderabad, Foyr had earlier raised about $598K (INR 4 Cr) from housing accelerator, Brick Eagle. Following that, in May 2015, it secured about $898K (INR 6 Cr) in its Pre Series A from Astarc Ventures.
This week 16 startups raised about $53 Mn in funding altogether. (Funding amount based on startups that disclosed their funding.)
Startup Fundings Of The Week
Satvacart: Gurugram-based online grocery retailer, Satvacart raised an undisclosed amount of funding in its third angel round from serial entrepreneur Nimit Panigrahi. The firm had earlier announced the participation of Abhijit Avasthi (Sideways), Karan Chellani (Partner, Grace Capital Ventures), and SP Vijay (Founder, Tarento Technologies) at the beginning of this round in July 2016. The funds will be used to enhance technology and data analytics capabilities and hire talent across technology, data analytics, and retail.