This week two venture capital firms raised funds. Silicon-based venture capital firm, Sequoia Capital, managed to close $920 Mn fund capital to invest majorly in Indian startups along with South East Asian companies. With this, venture capital firm, Kae Capital, raised $30 Mn as part of its second fund from existing and new investors. The second fund has already been invested in at least five startups. It was reported that Flipkart approached Alibaba to raise next funding round. Though the talks are at a very nascent stage but the sources close to the development said that Alibaba’s investment will depend upon Flipkart’s willingness to offer a discount on its current valuation of $15 Bn.
This week 14 startups raised $20 Mn in funding altogether. (The funding amount is based on the startups that disclosed their funding amounts).
The Startups That Raised Funds This Week
Magic Crate: An early childhood learning startup, Magic Crate, received an undisclosed amount of seed funding led by Aarin Capital and TV Mohandas Pai in his personal capacity. The startup will use the raised funds towards expanding its product portfolio, growing the team and scaling up manufacturing.
Oust Labs: Edtech startup Oust Labs raised an undisclosed amount of seed funding from T.V. Mohandas Pai and Aarin Capital. The startup aims to combine the fun and social aspects of mobile gaming with rigorous curriculum.
Altizon: IoT startup Altizon Systems raised $4 Mn in series A funding led by Wipro Ventures. Other participants in this round included Lumis Partners and existing investors, The Hive and Infuse Ventures. The startup will use the newly raised capital to scale up sales and marketing functions in India and the international market.
Mazkara: Beauty and wellness startup, Mazkara, raised $1 Mn in a seed round of funding from Dubai-based Dunamis Ventures. The raised capital will be used to expand its product team and subsequently launch operations in Delhi, Mumbai and Abu Dhabi.