This week 10 startups raised more than $70 Mn in funding (this is based on startups that disclosed their funding amounts).
Lets have a look at the startups who were lucky this week.
Wegilant: Mumbai based Wegilant which provides IT security solutions to Android developers and CIOs raised INR 1 Cr. in funding led by Ravi Gururaj of HBS Alumni Angels, Gaurav Sharma of Yahoo India, and Vishwanathan Ramachandran and IIT-Bombay’s startup incubator SINE.
Gigstart: An online marketplace for entertainers and party planners, Gigstart raised $210k in seed funding from a group of investors, including Snapdeal’s co-founders Rohit Bansal & Kunal Bahl, Indian Dream Capital and Rajesh Sawhney of GSF.
RiverSilica Technologies: Founded in 2010, RiverSilica Technologies raised INR 10 Cr. in funding led by Exfinity Technology Fund. Its main product line is PIXFIX, a patent-pending algorithm supports live video and on-demand video.
IndiaHomes.com: It is in final stages of raising a new round of $50 Mn of funding to be led by its existing investors- – New Enterprise Associates (NEA) and Foundation Capital. IndiaHomes.com will use some of the $24.9 Mn of the funds it raised in April to acquire 5 startups for a total $15 Mn.
Karmashop: UK based Low Carbon Enterprise fund is investing INR 1.2 Cr. in this Delhi based recommerce startup which procures old smartphones, tablets, and laptops from various retailers and sell them online.
Ather Energy Pvt Ltd: It raised $1M form the Co-Founders, Sachin Bansal and Binny Bansal of Flipkart. It focuses on designing of high-speed electric two-wheelers for the Indian market. The raised funds will be used for product development.
Lookup: It raised INR 1 Cr. (over $160,000) in funding from Infosys co-founder Kris Gopalakrishnan. Bangalore based startup will use the funds to expand the services to other cities including Mumbai, Delhi and Chennai.
Apart from funding activities, two acquisitions also took place, these include SapnaOnline acquiring Ishita Technologies which owns and operates three ecommerce stores – Bookadda, Acadzone and Koolskool and SVG Media that runs Tyroo, DGM and Precision Match acquiring mobile video technology platform Seventynine and digital agency Net workplay from Gruner+Jahr. The deal is of around $15 Mn.
Other important developments include:
Ryerson Futures Inc. and the Chokhani Group announced a $15 Mn fund to invest in early stage technology startups connected to Zone Startups India. The fund will seek to invest between $50,000 – $500,000 in 10-15 startups every year.
GSF this week announced Digital Media Labs which will train and fund 10 digital media and advertising tech startups in 2015.