Homegrown ecommerce biggie Flipkart is in talks with Microsoft Corp., eBay Inc., PayPal Holdings Inc. and Tencent Holdings, to raise about $1.5 Bn. It is also reportedly in talks with Google Capital for the ongoing round. Sources close to the development believe that Flipkart is looking at a valuation of $10 Bn-$12 Bn.
This week six startups raised over $16 Mn in funding altogether.
Startup Fundings Of The Week
Get My Parking: Cloud-based mobile parking startup, Get My Parking secured $1.1 Mn in a Pre-Series A round of funding from Indian Angel Network (IAN), BEENEXT, The Chennai Angels (TCA), and Sunil Munjal (Hero Group). The startup has raised funds to accelerate product innovation and business impact.
True Balance: Gurugram- and Korea-based mobile balance management service app True Balance raised about $15 Mn (INR 100 Cr) in its Series B round of funding.
Vebbler: Bengaluru-based photo sharing startup Vebbler got selected for Facebook’s developer-focused programme “FbStart” which caters to the early-stage, mobile-focussed startups. As part of the programme, the startup will be provided with services & credits worth $40,000.
Reap Chemist: Mumbai-based B2B supply chain management mobile application for pharmacies, Reap Chemist raised an undisclosed amount in Seed funding round. The investment was led by angel investors including Kunal Shah and Sandeep Tandon of FreeCharge, Gagan Goyal of ThinkLabs, and Nitin Saluja of Chaayos. The startup will use the funds to improvise its product and expand operations.
Oglas: Noida-based mobile advertising startup Oglas raised an undisclosed amount of angel funding round. The funding was led by investment banker and NYU Stern alumnus Pankaj Rungta and serial entrepreneur Yogesh Agarwal.
Biryani By Kilo (BBK): Gurugram-based food startup BBK raised $375K from investors such as Chandigarh Angels, Ashish Gupta (Evalueserve, Ashoka University), Rohit & Ashish Chand, Sunil Singh and more. With this fund raise, BBK aims to cover most of NCR with six-seven kitchens.
In another development, Bharti Airtel acquired an equity stake in fintech startup Seynse Technologies Pvt. Ltd, for an undisclosed amount. The deal has been facilitated through its subsidiary arm, Bharti Airtel Services.
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