This week, early and growth-stage venture capital firm Accel Partners reportedly sold a small amount of its stake in ecommerce giant Flipkart to Qatar Investment Authority for $100 Mn (about INR 650 Cr.). Flipkart is currently valued at around $15 Bn. Accel is still the second-largest shareholder in the ecommerce platform after Tiger Global Management.
This week, 15 startups raised about $37 Mn in funding altogether. (The funding amount is based on the startups that disclosed their funding amounts).
Startups That Raised Funds This Week
Doctor Insta: Telemedicine platform oriented startup Doctor Insta raised $500 K in Pre-Series A round of funding from angel investor Rishi Parti and BrahmaX Ventures. The startup will use the raised funds for research and deployment of the product. It also plans to raise about $1-$2 Mn more to expand its team, and to spend in marketing and promotional activities.
Cityfurnish: An on-demand furniture rental platform, CityFurnish, raised an undisclosed amount of seed funding from Citrus Pay founder Jitendra Gupta. The funds will be utilised to strengthen its core team, improve product management and order fulfilment.
Black White Orange: Brand licensing startup Black White Orange raised about $300K (INR 2 Cr.) in a funding from Collaborative Licensing Ventures LLP. The startup will utilise the funds to build its team.
Canvera: Online photography startup Canvera Digital Technologies raised $2.2 Mn (INR 15 Cr.) in a funding round from existing investor Info Edge (India) Ltd. With this, Info Edge now holds 49% stock of the company on a fully converted and diluted basis. The investment was made in the startup at a pre-money valuation of INR 75 Cr.