Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
We bring to you latest developments regarding funds raised, important developments and acquisitions that took place this week.
The Mumbai-based investment firm Zodius Capital has raised $110Mn for its new fund to invest in internet and tech startups in the country. With already two investments in its basket, it also plans to invest about $12-$16Mn each in 8-10 growth stage enterprise software and consumer technology startups by end of this year.
This week 12 startups raised about $22 Mn in funding. (Calculations are based on the startups that disclosed their funding amounts)
Have a look at startups that got funded this week:
UE LifeSciences Inc: Unitus Seed fund has selected its second startup, UE LifeSciences Inc under its StartHealth Investment Program where the startup will receive an initial funding of $80,000 and a potential follow-on investment of at least $160,000. The US and India based startup has invented a portable breast screening device which helps in early-stage detection of breast cancer. The startup plans to use these funds to make breast screening to massed by reducing the cost of diagnosis.
Truweight: Hyderabad-based Truweight has raised an undisclosed amount from Kalaari Capital In series A funding. The startup focuses on weight loss and promotes sustainable healthy lifestyle for same. It involves counselling clients online and at their weight loss centres. Along with this the company has its own range of food products.
Zoomcar: Bangalore-based Zoomcar has raised an undisclosed amount of funding which was joined by new investors along with existing investors such as Sequoia Capital. No plans have been revealed yet as to what the funds will be used for. Along with this, the company’s co-founder David Back has left the company.
TheKarrier: Last Mile delivery is always cumbersome, to ease the process Bangalore-based theKarrier provides on demand truck service in the city. The company has raised $234k from Sol Primero, Outbox Ventures and Nikunj Jain. The said funding will be used by the company to expand its operations as it has plans to expand to five cities by the end of this year.
Fabhotels: Earlier known as Casa2inns, the startup that provides branded budget accommodation raised $5Mn from Accel Partners and Kalaari Capital. The company will use the said funds to establish a pan-India footprint along with investment in consumer and operator facing technology. The company is currently present across six cities with more than 50 hotels on its platform.
Postman: Bangalore-based Postman has raised $1 Mn in seed round funding from Nexus Venture Partners. The company will use the funds for setting up an office in San Francisco this year. Not only this, the company will be using the same for hiring. The company offers a platform for teams developing APIs.
ZenParent: Parenting Tips and resources for the New-Age Parent including weekend events to easy recipes and family bonding ideas are provided by the Bangalore-based startup Zenparent. The startup has raised $500K in seed funding from i2india Ventures and plans to use the same to ramp up its operations as well as expand beyond Bangalore.
Newgen Payments: Taking a brick and mortar business online is the new fab, Newgen Payments aims to make the process seamless. New Delhi and Amsterdam based startup helps it clients by designing their websites, providing development and hosting services as well as simplifying the checkout process. The company has secured an undisclosed amount of funding from GlobalCollect’s CEO Jan Manten.
Renderlogy: Mumbai-based Astarc Ventures has invested $1Mn in a new round of funding in Hyderabad-based interior design technology startup Renderlogy. The startup offers technology enabled experiences, visualisations and solutions for the builders, suppliers and consumers. It has also a patent-pending ‘Interiors definition technology’ based on which it is planning to launch a B2C (business-to-customer) interior designing portal in June and is exploring tie-ups with vendors for the same.
Urban Pro: Urban Pro, formerly knows as ThinkVaidya which is an online marketplace connecting professionals and consumers across a variety of fields like interior designing, event management, photography and health and wellness services. The startup raised $2Mn funding from Nirvana Venture Advisors. The said funds will be used to improve its platform and in building its presence in the app-based mobile services
GoodBox: Bangalore-based Goobox is a startup which connects businesses with consumers has raised $200K in seed funding led by Manipal Media Networks. The company provides a platform where customers can directly interact over chat with a business. Not only this, it also enables businesses to put up photographs, send group messages to their customers and more. The funding will be used to develop the technical aspects of the product.
Ather Energy: Bangalore based Ather Energy, the company which is developing electric two-wheeler, has raised around $12 Mn (INR 75.33 Cr.) in a funding led by Tiger Global. The startup plans to use the new round of funding for development, testing, production and the launch of its first smart electric two-wheeler, the Ather S340.
Besides, Cross Border Angels has invested in 2 startups i.e. Comfee & TrustedInsight. With this, Gurgaon-based Power2sme, a ‘Buying Club’ for SMEs in India has announced its plans to raise fresh funding from the existing investors. The company is also looking at around $55 Mn to $64 Mn sales this year against $22 MN in last year.
Also, there are rumors that New York-based venture capital firm, Tiger Global Management is planning to invest in an online marketplace for shared accommodation Nestaway and online budget hotel stay brand Zo Rooms. According to the person familiar with the development, the firm is in talks with both the startups to invest around $10- $15 Mn in each firm.
Lets have a look at acquisitions that took place this week:
TalentSprint, a skill development and talent management company got acquired by Bangalore-based Java Learning Center (JLC), a company offering advanced programming courses in Java for an undisclosed amount.
Online real estate portal Housing.com acquired Delhi-based, Realty Business Intelligence, an organization aimed at providing uncluttered & intelligent information on the Real Estate Sector. The deal is said to be of $2-4 Mn (INR12-24 Cr.).This new acquisition will help Housing, in developing its analytical capabilities and thereby, help customers in making intelligent real estate purchases.
Ecommerce firm Snapdeal acquired Hyderabad-based mobile technology startup MartMobi for an undisclosed amount, the acquisition is aimed at strengthening its mobility platform for merchant partners.
Lets have a look at other developments of the week:
Smile Group, which owns the operation at various properties in the online and digital media space, is planning to invest in over 10 consumer internet startups in the next one year.
