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Funding Galore: Startup Fundings Of The Week [14 September – 19 September]

Funding Galore: Startup Fundings Of The Week [14 September – 19 September]

This week 23 startups raised about $263 Mn in funding altogether.  (The funding amount is based on the startups that disclosed their funding amounts).

Let’s Have A Look At The Startups That Raised Funds This Week

olacabs launches olaminiOla: Cab & auto hailing app Ola has reportedly raised around $225 Mn (INR 1,478 Cr.) as a part of its new funding round of $500 Mn, which the company will close shortly. As reported, the company filed the funding documents with the Registrar of Companies (RoC).

curejoyCureJoy: Online health and wellness startup, CureJoy, raised $1.15 Mn funding in Pre Series A round of funding led by Accel Partners. The startup will use the fund to expand its team, and its geographies.

plabroPlabro Networks: Mobile only real estate platform, Plabro, raised $350K in first round of funding led by Sachin Bansal & Binny Bansal, Sol Primero, Outbox Ventures and angel investor Sangram Singh. The funds will be used to create stronger networking ecosystem and widening its footprint across country.

buenoBueno Foods: This food tech startup raised $600K from HNIs in its first external fundraise. The startup will use the raised funds in technology development, and expanding its capacity in terms of kitchen, logistics and delivery.

PaintcollarPaintcollar: Online designer marketplace Paintcollar raised its bridge round of funding. This round is a part of funding that Paintcollar is raising via investment platform Applyifi. The startup is an online platform for artists to share their artwork in form of products like t-shirts, mugs, phone cases and earning while offering variety of products.

unilog-logoUnilog: B2B ecommerce startup Unilog secured undisclosed amount of funding from Kalaari Capital to accelerate the company’s product development efforts and expansion into global markets.

xstokXSTOK: Online B2B mobile auction marketplace for sourcing and selling textiles, XSTOK, raised more than $450K (INR 3 Cr) funding in early-stage round from Oliphans Capital. The startup plans to use the raised funds to get new suppliers on board for the categories which it plans to launch over the next two months.

wedmegoodWedmeGood: Wedding portal raised $406K (INR 2.7 crores) funding from Indian Angel Network (IAN). The startup helps soon-to-be couples chalk out their wedding from planning to execution.

Chai_PointChai Point: Tea retail chain Chai Point raised $10 Mn (about INR 66.35 Cr.) in a funding round led by Eight Roads Ventures. DSG Consumer Partners and Saama Capital also participated in this round. The startup is aiming to build a tea delivery business to cater to companies and small businesses across metros.

mubbleMubble: Mobile payments data startup Mubble raised undisclosed amount of funding from Nandan Nilekani. Mubble is a smartphone app that helps users track their telecom spending as well as mobile data usage. The funds raised will be used in hiring top engineering talent.

coverfoxCoverfox: Online insurance distribution platform, Coverfox, grabbed undisclosed amount in funding from Catamaran Ventures. The startup will use the funding to strengthen and grow its business. It also aims to be the largest online auto insurance provider within next six months.

fyneFYNE: Online bath fixtures and fittings startup, FYNE, raised undisclosed amount in Pre Series A round of funding led by a group of investors. Sandeep Dama of Lotus Partners also participated in the round. With the newly raised funds the startup will expand its product catalogue and enter into new categories along with signing new brands.

moengageMoEngage: A user analytics and engagement platform for mobile apps in India, MoEngage, raised $4.25 Mn in Series A round of funding led by Helion Venture Partners. Exfinity Ventures and prominent angel investors including Kunal Bahl, Rohit Bansal and TFS’ Raghunandan also participated. The funds will be used to launch company’s platform globally and build mobile marketing automation platform.

inventureInVenture: Mobile tech and data science startup, InVenture, raised $10 Mn in series A round of funding led by Data Collective with participation from India Internet Fund, Chris Sacca’s Lowercase Capital, Chris Hughes, Vikram Pandit, Tom Glocer; Collaborative Fund and Female Founders Fund. The funds will be used to launch its products in additional markets in sub-saharan Africa and Asia markets.

adurcupAdUrCup: Offline ad network startup AdUrCup raised undisclosed amount in its first round of funding led by founders of Dineout. The raised capital will be used to create first of-its-kind out of home (OOH) ad network, which aims to reach 25,000+ consumers per day across Delhi NCR and more than 5,000 consumers per day on trains.

roomoncallRoom on Call: Branded budget accommodation marketplace, Room on Call, raised $300K in funding from the U.S. based Senior Executive of Yahoo, Payal Syal. The funding will be used towards expanding the team and increasing the company’s reach and facilities.

ue lifesciencesUE LifeSciences: Startup behind high tech, portable “IBreastExam” device, UE LifeSciences, raised over $3 Mn in a funding led by Aarin Capital. The raised capital will be used to expand trials and set-up manufacturing in India as well as to build distribution networks through public and private primary care providers across India.

CanvasflipCanvasFlip: Cloud­ based prototyping and usability testing platform, CanvasFlip, raised $1.2 Mn in seed round from Bessemer Venture Partners (BVP). The funds raised will be used to enhance product capabilities, enable growth practices, as well as towards exploring the international market.

zivameZivame: Online lingerie retailer Zivame reportedly raised an undisclosed amount from Ratan Tata. The funding comes just after few days since Zivame raised $38 Mn (INR250 cr) Series C round of funding from Zodius Technology Fund and Khazanah Nasional Berhad.

shadowfaxShadowfax: On-demand hyperlocal delivery services startup, Shadowfax, raised $8.5 Mn in its Series A round of funding led by Fidelity’s proprietary investment firm Eight Roads Ventures. The raised capital will be used to scale and expand company’s operations in several cities. Shadowfax is also on a lookout to expand its services in verticals like grocery, bakery, pharmaceuticals and ecommerce.

lab streetLabStreet: Diagnostic labs startup LabStreet raised $150K in angel funding from multiple investors including Click Labs. The funds will be utilised for enhancing the collection and logistics capabilities as well as expanding the footprint across the country.

Briston Technomach: Internet -of-things (IoT) and machine-to-machine (M2M) technologies startup, Briston Technomach Pvt Ltd, raised around $150K seed funding from angel investor. The company will use the capital to expand its operations to eight major cities and hire talent.

daaily ninjaDaily Ninja: Bangalore-based hyperlocal mobile solution for all subscription based daily needs, Daily Ninja, has raised an undisclosed amount of seed funding in a round led by Aprameya Radhakrishna, co-founder of TaxiForSure, Naman Sarawagi of FindYogi and others.

Also, online fashion retailer YepMe reportedly raised $75 Mn in a funding round led by Malaysian state fund Khazanah Nasional Berhad. Its existing investor Helion also participated in this round of funding.

Acquisitions That Took Place This Week

  • Online car portal CarDekho acquired Zigwheels, a Times Internet owned auto portal, for an undisclosed amount. This is CarDekho’s third acquisition which will help the company enhance its content.
  • Hyperlocal services startup, Jugnoo acquired restaurant discovery app, Bistro Offers, and mobile only services marketplace The size of both the deals is identified at $1 Mn including cash and stock components. With this acquisition, the company aims to strengthen its hyperlocal marketplace as both companies focus on hyperlocal content discovery.
  • Modular home furnishing solutions provider,, acquired Doowup for an undisclosed amount. With this, Doowup’s founding team will join HomeLane. This acquisition will boost HomeLane’s home decor visualization to offer personalized and immersive home furnishing experience.
  • Logistics company TAM International Pvt. Ltd acquired Abaj World in a cash and equity deal. Abaj is a Thailand-based electronics brands that offers superior technology, space and energy-saving devices. Under the deal terms, Abaj World will merge its entire operations into TAM International.
  • Payment and remittance management company, Suvidhaa Infoserve, acquired AasaanPay’s mPOS (mobile Point Of Sale) technology platform along with the IP for an undisclosed amount. With this acquisition, Suvidha aims to tap the utilisation of over 15 Cr cards issued under JandhanYojana and another 50 Cr debit cards issued by various banks.
  • Online healthcare platform Practo acquired Insta Health Solutions, a hospital information management company, for about $12 Mn. This acquisition would help Practo rapidly grow in the healthcare space and increase its database of doctors worldwide.
  • A social intelligence platform Sysomos acquired GazeMetrix, an image recognition and visual listening platform for an undisclosed amount. With this, Sysomos would empower the modern marketer which will offer industry leading social analytics, image recognition and visual listening, backed by the industry’s most advanced data science methodologies.
  • California-based digital media company Zealot Networks has acquired Bollywood audio & video content creator Nirvana Digital in an undisclosed cash and stock deal, reported Stream Daily. This is Zealot’s first acquisition of an MCN outside the US and 18th acquisition overall.

Other Developments Of The Week

  • Microsoft Ventures announced the names of 10 startups selected for the Winter 2015 Batch of its Hi-Po & Scale Up Program. The batch has been selected from over 1800 applications. The batch includes deep-tech startups from sectors like travel and tourism, mobile, HR, learning and others.
  • IBM Global Entrepreneurship Program (GEP) has announced the winners of its first edition of SmartCamp held at Kochi. IBM SmartCamp 2015 is a startup challenge in which startups will pitch to IBM executives, VCs and government executives.
  • icreate, an autonomous institution that identifies, nurtures, and mentors aspiring individuals/teams (with or without ideas) to pursue their entrepreneurial dreams, has invited applications for its fifth batch of 25 capable and aspiring entrepreneurs.