The two most sought after startups in their own domain caught buzz for all the right reasons. On one side, Bangalore-based taxi aggregator, Ola, is close to seal a funding round of INR 2500 Cr. led by Yuri Milner’s DST Global, at an estimated valuation of $2 Bn. With that valuation the two angel investors Anupam Mittal and Rehan yar Khan’ current stake in Ola would be nearly $20 Mn and $36 Mn. On the other side, reports suggests that Snapdeal investment from Alibaba might have fallen apart, Alibaba was valuing the Indian firm in the range of $4-5 Bn as against a valuation of $6-7 Bn sought by Snapdeal.
Let us have quick view of the funding and acquisitions that took place week. In total, 15 startups raised about $66 Mn funding altogether. (based on the startups which disclosed their funding amounts)
A Quick Recap Of The Funding Around The Week
GolfLAN: Delhi-based Golflan Technologies Pvt Ltd, which runs a subscription-based service for golfers, raised an undisclosed amount in seed funding from early-stage investor YourNest Angel Fund. The funds will be spent on geographical expansion, technology and marketing.
Slyds: Bangalore-based PPT maker raised INR 50 lakhs from an interior design firm, Bonito Designs to spend the amount in diverse areas to build the product. 20% per cent of the funds are decided to be spent for marketing and the rest is to be spent in hiring employees and shifting to a new office.
Harness Handitouch: Chennai-based ed-tech startup raised undisclosed amount in its Series A round of funding from Luxembourg based Armat Group, the round, marked the exit of ah! Ventures. Ah! had invested INR 1 Cr. in Harness through CLUB ah!, its angel investment network in 2012.