The week went pretty interesting with a number of startups from different domains raising funds. The most interesting transaction of the week was Times Internet and Uber’s strategic partnership which was announced during the week, the partnership is aimed to support Uber’s expansion in India. The deal is centered around a commercial marketing arrangement accompanied by a small investment. The size of the deal is somewhere around INR 150 Cr.
Let us have quick view of the funding and acquisitions that took place this week. In total, 15 startups raised about $61 Mn in funding altogether. (based on the startups which disclosed their funding amounts)
A Quick Recap Of The Funding Around The Week
Roposo: Gurgaon-based fashion discovery site, Roposo.com raised $5 Mn (over INR 31 Cr) in series A round of funding from Tiger Global Management to strengthen the product further. The deal also saw the participation of its early investors Indian Quotient and Binny Bansal (co-founder and COO of Flipkart.com).
Artoo: Bangalore-based IT Solutions startup, Artoo secured INR 3.1 Cr in Series A from Accion Venture Labs and Switzerland-based Rianta Capital Zurich’s Artha Initiative. The company plans to utilize the funds to hire more people in order to expand to South East Asia and to improve performance and features of the technology platform to allow customers to personalize their financial product.
FxKart: Bangalore-based, online currency exchange startup, FxKart.com raised a $2 Mn seed funding from its founder Dr Mushtaq Shah and its Strategic Advisor Dr Faraz Naqvi. The startup brings in-time facility for the travelers to obtain the best rate from various forex dealers on a single platform.