Ecommerce marketplace, Snapdeal, raised $200 Mn from Canada-based pension fund – Ontario Teachers’ Pension Plan, Venture capital fund – Iron Pillar and Singapore-based investment entity – Brother Fortune Apparel. The round also saw participation from Bennett Coleman & Co. The new round values the company somewhere around $6.5-$7 Bn.
This week, 30 startups raised about $240 Mn in funding altogether (the funding amount is based on the startups that disclosed their funding amounts).
Startups That Raised Funds This Week
Xpressbees: Ecommerce logistics startup, Xpressbees, raised about $12.38 Mn (INR 85 Cr.) in a funding round led by its existing investors SAIF Partners, IDG Ventures India, NEA, Vertex Ventures and Valiant Capital. The startup will utilise the funds to upgrade its technology and to expand its operations.
Buddy: Student micro-lending startup, Buddy, raised $500K from Blume Ventures, TracxnLabs and other angel investors in its Pre-Series A funding round. The newly raised funds will be used to expand its credit risk & technology.
RentSher: Online rental marketplace RentSher raised more than $300K in a seed funding round. The round was led by Dubai-based ex-McKinsey investor Vaibhav Doshi, along with a clutch of other well-known entrepreneurs turned investors. The capital raised will be used for product development, fulfilment and growth.