Funding Galore: Startup Fundings Of The Week [2 November – 7 November]

This week 23 startups raised more than $42 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

CityFlo: On-demand bus aggregator startup, CityFlo, raised $750K (about INR 4.8 Cr) in a funding led by IDG Ventures. The team is mentored by Housing.com’s co-founder Advitiya Sharma. The raised funds will be utilised to penetrate bus routes in Mumbai and then expand to other cities.

Twigly: Kitchen on cloud-business, Twigly, raised $200K in its angel round funding from Amit Gupta, Sahil Barua, Mukul Singhal, TracxnLabs and Deepak Singh. The startup will use the funds to expand its presence in Delhi. Further, it also plans to tie-up with third-party hyperlocal delivery companies such as Opinio in the future.

Fortigo: Yet to be launched startup, Fortigo, has reportedly raised close to $2 Mn in seed funding from Nandan Nilekani. The startup aims to improve the quality of transportation services in businesses.

MyIndianStay: Online homestay accommodation listing platform, MyIndianStay, raised $200K in angel round of funding led by institutional investors. The funds raised will help the startup to expand its presence and develop its technology further.

BookMyBai: Domestic help aggregator, BookMyBai.com, raised over $150K (INR 1 Cr) from 50K Ventures and a group of angel investors led by Vineel Nalla, in its first angel round of funding. The raised funds will be used to expand into more geographies by the end of next financial year.

LoanBaba: Consumer lending marketplace operated by Sahas Technologies, LoanBaba, raised about $320K (INR 2.10 Cr) in seed funding from an unnamed angel investor. The funding will be use for enhancing its technological offerings and marketing strategies.

SatvaCart: Online grocery startup SatvaCart reportedly raised somewhere $1.8 Mn (INR10-12 Cr.) in its second round of angel funding. The round was led by three senior executives in the insurance, telecom and investment banking space. The startup plans to use the amount raised to expand to other cities and strengthen its technology.

Semantics3: An ecommerce data analytics startup, Semantics3, raised $1.5 Mn from existing investors, E-Merge and Zillionize. The funds will be used to expand its Indian operations and hire more sales staff and engineers in the country.

Bobble: A mobile app that converts selfies into comical stickers, Bobbleapp, reportedly raised an undisclosed amount in Series A funding from SAIF Partners and other unnamed investors. The amount will be used to expand the app into a full-fledged instant messaging platform

BoiBanIt: Food ordering marketplace Boibanit raised $150K in angel funding from R Kumar Textile Group’s Varun Ahuja and investment banker Anubhav Verma. The funds will be used to add more restaurants/locations on the platform and upgrade its technology backend.

Deyor Rooms: Budget hotel aggregator Deyor Rooms reportedly raised $500K (INR 3.28 Cr) in angel funding from Redcliffe Capital’s Dheeraj Jain and other unnamed investors. The startup focuses on pilgrimage towns and tourist destinations space and will use the funds to expand operations in newer cities and step up marketing.

RepUp: Online reputation management startup, RepUp, raised an undisclosed round of funding from Indian Angel Network. The funding will be used for acquiring customers from Hotel industry in India and to explore of Southeast Asian market.

Jugnoo: Paytm infused fresh funding in Jugnoo. This is the second tranche of investment from Paytm in the company. Paytm had earlier invested in the company in July this year. After this round, Paytm’s stake in Jugnoo has gone up to around 20%. The amount will be used to enter major metros in the coming months.

PayTunes: Mobile advertisement platform, PayTunes, raised an undisclosed amount of funding from CIO Angel Network (CAN). The round was led by Sanjay Mehta and Anoop Mathur along with other members from CAN. The funds will be used for user acquisition, marketing and for improving the product features.

Pokkt: Video advertising and app monetization platform, Pokkt, secured close to $5 Mn in a funding round from Segnel Venture, Shinji Kimura and Sundar Chanrai. The startup will use the funds in product development, increasing the technology team and global expansion.

POPxo: Woman centric lifestyle and fashion content portal, POPxo, raised $2 Mn in its Series A funding round led by IDG Ventures, Kalaari Capital along with participation from 500 Startups. The raised funds will enable the startup to broaden its editorial operations in English and Hindi language and plans to scale up video production and new features for its recently-released iOS and Android apps.

YourDost: An online emotional wellness platform, YourDost, raised close to $400K (INR 2.5 Cr) in an angel round of funding from investors like Phanindra Sama, Aprameya Radhakrishna, Aneesh Reddy, Nagesh Grandhi and more. The amount will be used in company’s marketing and expansion needs.

Bidgely: Energy management platform Bidgely raised $16.6 Mn in Series B funding round led by Constellation Technology Ventures (investment arm of Exelon Corporation), E.ON and RWE. This round of funding takes the total funds raised by the company to $24 Mn.

Explara: Event ticketing platform, Explara, raised $486K (INR 3.2 Cr) in pre-series A funding round led by Hyderabad Angels including participation from businessman Ness Wadia, Singapore Angel Network and Hyderabad Angels. The funds will be used to roll out a movie ticketing platform next month.

SparesHub: Iradium Automobiles Private Limited, which owns SparesHub.com, raised an undisclosed amount in Pre-Series A round of funding led by Hyderabad Angels and Singapore based M&S Partners. The startup will utilise the funds to expand its operations, improve technology infrastructure and enroll more participants in its marketplace.

Sabse Technologies: A global Wi-Fi first carrier and also the company behind Sabsebolo, Sabse Technologies, raised an undisclosed amount in funding led by Ratan Tata. The raised funds will help Sabse to expand its Wi-Fi first cellular service to customers worldwide.

FindYahan: Online marketplace for service providers FindYahan has Times Group’s Brand Capital as its investor. Though the financial terms of the deal were left undisclosed, the funds raised will be primarily used for marketing.

GymTrekker: Fitness chain Talwalkars Better Value Fitness Limited (TBVF) will invest growth capital into GymTrekker, anonline portal to consolidate structured health and fitness solutions. The investement will help make GymTrekker access untapped markets in metros and tier-2 cities of India.

Also, online marketplace MyNewCar.in is planning to raise $2.5 Mn by next three months to fund expansion of operations, improve back-end technologies and develop brand awareness and marketing.

Acquisitions That Took Place This Week

• Home utility service provider, Taskbob, acquired Zepper, another startup in the same domain, for an undisclosed amount. With this acquisition, Taskbob will mark its entry in Bangalore market.
• A startup that lists wellness services, Gomalon acquired Bookmyspa, salon and spa booking startup, for about $1.8 Mn (INR 12 Cr). With this, Gomalon plans to use Bookmyspa’s assets and user base to perk up consumer experiences in wellness industry.
• Cloud telephony company, Exotel, acquired Voyce, a platform which allowed businesses to gather customer feedback. The acquisition will strengthen customer service offerings at Exotel.
• On-demand laundry startup, Wassup, acquired Chamak for an undisclosed amount in a full equity deal. With this acquisition, Wassup will commence its operations in Mumbai and will look to expand to 20 territories in coming 6 months.
• Autorickshaw aggregator Jugnoo reportedly acquired Autowale in an all-equity deal. The acquisition will give a strong foothold to Jugnoo in Pune and it can leverage its experience in Mumbai and overall Maharashtra.
• German payments company Wirecard will reportedly buy the payments business of Great Indian Retail Group, a major Southeast Asian electronic payment and ecommerce business. Wirecard will pay $254 Mn in cash, financed by its own capital and committed bank loans for 60% of the shares of GI Technology, part of Great Indian Retail Group.

Other Developments Of The Week

• The pied piper of Indian bourses, Rakesh Jhunjhunwala, is said to be investing in Exfinity Venture Partners LLC. Rakesh will be the biggest investor in Exfinity’s second fund. Exfinity aims to raise a sum of $38 Mn (INR 250 Cr.) from Rakesh, as well as other investors, Sidbi venture capital and SBI.
• PayPal’s Start Tank incubator challenge that helps startups reach out to global mentors, angel investors and venture capitalists has selected four financial technology (FinTech) startups for its Start Tank Incubation Challenge in Chennai.
• Quintype Inc launched SpeakWrite, an accelerator program for digital media startups that will provide mentorship, access to Quintype’s state-of-art publisher platform, technology & professional services, access to the publishing ecosystem, and an innovative community for a period of 12-24 months.

IBM Global Entrepreneurship Program selected 15 startups from the regional finals, which was held on November 6, 2015 at Bangalore. Next regional final destination is Delhi and Mumbai.

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