This week, Indian music streaming company Saavn announced that it has raised $100Mn in Series C round of funding which was led by Tiger Global Management with existing investors Bertelsmann India Investments, Steadview Capital, Liberty Media, and Mousse Partners also participating in the round. The week was full of funding and acquisition activities.
This week 15 startups raised around $200 Mn in funding altogether. (Calculations are based on startups that disclosed their funding amount.)
Lets have a look at the startups that got funded this week.
Lendingkart: Ahmedabad-based online financing company raised $10 Mn (about INR 63 Cr) from Saama Capital, Mayfield Fund, Ashvin Chadha and Shailesh Mehta. The company will use the funds to increase loan disbursement, build a team for ecommerce lending & analytics and to expand its operations.
Axtria: Big data analytics startup raised $30 Mn in series C funding led by Helion Venture Partners. Other investors included Silicon Valley venture capitalist ‘Desh’ Deshpande and existing investors Amar Sawhney, Rick Braddock and Fred Khosravi. The funds will be deployed to hire staff, build sales force, increase marketing, develop products and expand markets including new verticals and geographies.
Related Article: Indian Startup Funding Of The Week [Funding Galore 4-9 Sep]
ShopSity: Fashion hyperlocal startup secured an undisclosed amount of seed funding from Shopclues founder, Sandeep Aggarwal and Netprice founder, Teruhide Sato. With thousands of stores already listed on its platform the startup plans to infuse the funds to bring more stores online.
BlueStone: Bangalore-based online jewellery startup raised around $16 Mn (INR100 Cr) in Series C round of funding from a group of investors led by IvyCap Ventures, Accel Partners and Dragoneer Investment Group. The startup plans to utilize the infused funds towards expansion and building of brand.
Notesgen: Delhi-based marketplace for notes received seed funding from Rajeev Saraf, Arvind Jha and R. Satya Narayanan. The startup plans to build a global marketplace for study notes and educational content created by students.
Zoomcar: Bangalore-based self-drive car rental company raised $11 Mn led by Nokia Growth Partners, Sequoia Capital and Empire Angels. With the new funds raised the startup plans to expand rapidly across India with its vehicles in new cities.
Lybrate: Delhi-based mobile-first healthcare information, access and delivery platform, Lybrate raised $10.2 Mn in Series A funding from Tiger Global Management, Ratan Tata and existing investor Nexus Venture Partners. The startup plans to use the funds to develop products, recruit talent, augment technology and scale operations.
Wudstay.com: Gurgaon-based budget accommodation aggregator raised $3 Mn from Mangrove Capital Partners and CEO of Nimbuzz, Vikas Saxena. With the raised funds, the startup plans to expand its presence to around more than 60 cities.
IndiaLends: Delhi-based financial technology startup raised an undisclosed amount in its pre-Series A round of funding led by VC firm DSG consumer Partners and Siddharth Parekh in his individual capacity. The raised funds will be deployed to expand its footprint across the country and further build its technology.
Eatlo: Bangalore-based food tech startup secured an undisclosed amount in its second round of angel funding from Powai Lake Ventures, Globevestor and Abhishek Goyal of Tracxn Labs. The startup plans to use the funds raised to expand in the city by increasing delivery locations and hiring more employees.
Quinto: Pune-based personalized food recommendation app raised an undisclosed amount of seed funding from Faaso’s Jaydeep Barman. The startup plans to use the funds to ramp up its engineering and marketing team.
ConfirmtTkt: Bangalore-based startup that focuses on easing rail bookings in India secured an angel round funding from multiple investors. The startup presently has 180000 downloads on Android & 15000 downloads on Windows.
With this pre-owned bike marketplace startup CredR plans to raise $15 Mn (around INR 95 Cr) to fund its expansion and technology upgradation. The startup plans to expand its outreach to more cities in India.
The acquisitions that took place this week are:
- A doctor discovery platform, Practo has acquired a product outsourcing firm, Genii. The Genii team will join Practo and move to Bangalore.
- Neighbourhood classified ad portal Clickindia has acquired Delhi-based Peer to Peer sharing platform for goods and services Sharingdais for an undisclosed amount.
Lets have a look at the other important developments of the week:
- Microsoft Ventures launched @Cceler8, one-point destination for all eight accelerator programs. Microsoft Ventures has decided to streamline their application process further to include their partner programs such as ISDI, Reliance GenNext and Deshpande foundation’s Sandbox into one and call it @cceler8.
- Noida based startup, Betaout has been selected for the prestigious program, TechStars Chicago 2015. Betaout is the only startup based out of India which has been selected for the three month programme with its Demo day planned for mid-October.
- Applyifi, a private platform for startups and early-stage companies to raise funds, has curated 18 startups this month to showcase to investors. The company has curated high-potential startups to pitch to investors on the Applyifi platform.