Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
16 startups got funded this week. Though maximum number of startups have left the amount of funding undisclosed, but based on the startups that disclosed their funding amounts, this week, startups raised over $10 Mn in funding altogether.
InstaSafe: A cloud based security solutions provider startup, InstaSafe, raised an undisclosed amount of funding led by Vishal Khare and Alok Agarwal on behalf of IAN. The round also saw participation from CIO Angel Network. The startup plans to use the funds in expansion of sales & marketing efforts, product development and also for hiring talents.
Food Talk India: Digital food community, Food Talk India, raised seed investment of $500K from a private investor. The raised funds will be used to launch its new product, ‘Food Talk Plus’, which is a hyperlocal dish discovery mobile app.
RevX: Komli Media has spun out its integrated cross-channel CRM platform, RevX, as a new company focusing on mobile app re-engagement opportunities globally. The new enterprise secured $4 Mn (INR 26.4 Cr) in funding from Komli’s existing investors Norwest, Nexus, Helion, DFJ and Peepul Capital.
Eazy Coach: A personal mentoring platform for students to pick right college, Eazy Coach, raised an undisclosed amount of angel funding led by angel investor & businessman Ravi Agarwal. The company plans to expand through tie-up with colleges in the UK, Singapore and Australia in coming months.
Belita: On-demand home beauty services brand, Belita, raised about $377K (INR 2.5 Cr) in an angel round of funding led by India Quotient, Supreet Singh and other investors from LetsVenture, with Lead Angels also participating in the round. The funding would be utilized in expanding to various locations in different cities.
PickMyLaundry: GHV Accelerator has picked up PickMyLaundry in its accelerator program. As a part of accelerator program, it has also invested $100K in the company against 20% equity. PickMyLaundry is an on-demand washing and dry cleaning startup.
EazyDiner: Online restaurant reservation platform, EazyDiner, raised $3 Mn (INR 19.9 Cr) in a funding round led by Saama Capital and its existing investor DSG Consumer Partners. The startup plans to utilize the funds in expanding its operations in more tier I cities.
Qyk: Bangalore-based professional services marketplace startup, Qyk, raised $1 Mn funding in a pre-series A round of funding led by growX ventures. Existing investors Tracxn Labs, Powai Lake Ventures and Sahil Barua participated in this round of funding. Qyk is planning to scale up its team in a year’s time
rBus: A startup offering AC bus services in Mumbai, rBus, raised an undisclosed amount of seed fund from India Quotient, Anupam Mittal and others. The startup plans to use the funds to expand its operations and strengthen its technology platform.
Izofy: Izofy is an international marketplace that connects experts in Occult Science with consumers throughout the web. This startup raised an undisclosed amount in seed funding led by Prime Capital Markets Ltd. The funds will be used for product development, acquiring robust technology and building a marketing strategy.
BookMeIn: Hyperlocal services marketplace BookMeIn raised $370K (INR 2.5 Cr) in an angel round of funding from Ajmera Group of Companies. The company plans to use the infused funds in ramping up customer acquisition and improving end-user experience.
Icustommadeit: Merchandise startup icustommadeit.com raised $250K in its third round of funding, led by Aditya Pethe, Vidisha Vaidya, Aparna Pittie and Ravi Kant Sharma. The startup plans to use the funds to improve technology and build international presence.
BetterButter: An online social discovery platform for recipes raised undisclosed amount of seed funding led by growX ventures. M&Y Growth Partners and angel investor, Manish Singhal, also participated in this round. The stratup plans to use the funds in establishing the platform.
Djubo: Ibibo Group picked up a minority stake in a startup Djubo, a cloud-based 360 degree hotel sales platform. Djubo is a cloud-based hotels sales platform that manages booking confirmations, room hold requests, room queries, online channel partners, booking engine, payment follow up etc. for hotels through a single interface.
With this, an online budget accommodation aggregator, ZO Rooms, plans to raise $100 Mn (about INR 660 Cr) in a fresh round of equity funding.
Acquisitions That Took Place This Week
Digital media network SVG Media acquired Komli Media’s India business and global brand rights with itself for an undisclosed amount. With this, SVG Media group’s consolidated India revenues will stand at over $50 Mn.
Fashion retailer Voonik acqui-hired Trialkart, a startup that gives a virtual dressing room experience to users, for an undisclosed amount. The Trialkart team will also build a new division at Voonik called ‘Image Intelligence’ to help shoppers buy on Voonik’s shopping app.
Other Developments Of The Week
StartupXseed Ventures LLP launched “Aaruha Technology Fund” with an initial investment of over $4.5 Mn (INR 30 Cr). The fund will provide end-to-end support to seed-level companies working in areas of high technology business including security, semiconductors and embedded devices.
Times Internet, the digital arm of The Times Of India group, invested an undisclosed amount in Coursera’s $49.5 Mn Series C funding round along with New Enterprise Associates, Kleiner Perkins Caufield & Byers and International Finance Corporation.
Mphasis and IIIT-B partner to support, fund and nurture deserving social enterprises in areas like education, employability and entrepreneurship. Besides, incubatee companies will also be provided focused mentoring services, logistics support and business network to build social entrepreneurship ecosystems.
Citibank has launched a corporate accelerator programme, ‘Citi Mobile Challenge’, to foster digital and mobile innovation in banking, payments and ecommerce ecosystem in collaboration with leading companies as sponsors.
