The week also saw number of firms in talks to raise new funding rounds this include Flipkart readying itself for raising a new funding round of $1.7 Bn in coming months from new and its existing investors. After the fundraise, Flipkart would be valued at $15Bn. With this, Snapdeal is also looking to raise another $400 Mn that would possibly value the company at $5 Bn.
In total more that $15 Mn was raised by 8 startups this week!!
Lets have a look at the startup fundings of the week.
NewsInShorts: The startup raised over INR 25 Cr, the round was led by Tiger Global, along with Japan’s Rebright Partners and existing investors Sachin Bansal and Binny Bansal also participating. The startup has plans of using the funds for building a larger team , improving technology, moving into audio and video streaming and also adding a layer of personalization to its content, in the next 3 months.
iTraveller: Bangalore-based technology driven travel marketplace, Itraveller raised INR 6 Cr. in Series A through ah! Ventures’ investment network, CLUB ah!, Lets Venture, Mantra Ventures and existing investors iTraveller. The funds raised by the startup would be used for scaling up from the current 20 room nights a day to over 100 room nights, within the next 12 months.
NextGen: Bangalore-based CSR & Sustainability Management company, NextGen, raised an undisclosed amount of funding from Mumbai Angels and a group of angel investors based in the Silicon Valley and India. The Mumbai Angels were led by Redbus founder Phanindra Sama who would be joining the board of NextGen along with retail veteran Bijou Kurien and other angel investors. The funds, according to the company, would be employed for customer acquisition, technology base upgradation and other expansion plans.