The week went pretty much interesting for Indian startups with more than a dozen startups raising funding. Ecommerce marketplace Shopclues raised an undisclosed amount of funding from GIC and existing investors, including Tiger Global and Nexus Venture Partners. The company’s valuation is now more than $1.1 Bn, marking its entry into the Billion dollar startup club.
This week 25 startups raised about $160 Mn in funding altogether. (The funding amount is based on the startups that disclosed their funding amounts).
Startup Fundings Of The Week:
Hike: Internet-based cross-platform instant messaging service, Hike, reportedly raised an undisclosed amount of funding from Silicon Valley tech veterans including Adam D’Angelo (founder & CEO at Quora), Aditya Agarwal (Dropbox‘s Vice President), Matt Mullenweg (WordPress co-founder) and Ruchi Sanghvi (former Vice President, Operations, Dropbox). The investors have invested in their personal capacities and will also act as advisors to the company.
Savvymob: Last-minute hotel booking startup, SavvyMob, raised about $1 Mn in a seed round of funding led by TV Mohandas Pai and Let’sVenture. The startup will use the funds to expand to 50 more cities to strengthen its tech team and improve the product.
Lumiere: Lumiere Organic Venture Pvt. Ltd. raised an undisclosed amount of funding led by a group of 20 undisclosed investors. The capital will be used for buying more land for organic farming, marketing expenses, opening more physical outlets, scaling up its online shopping portal and also its restaurant division.
Wishup: Concierge service startup Wishup raised an undisclosed amount in seed round of funding from TracxnLabs, 500 Startups and Mato Peric. The round also saw participation from a host of angels through TracxnSyndicate. The startup plans to use the funds to expand its technology team in order to provide its users with the best customer experience.