The Infibeam IPO, which started slow on its first day and was given thumbs down by many analysts, made a comeback on a closing day. As per NSE data (till 1700 hrs 23rd March), the issue received bids for 1,38,30,894 shares against the total issue size of 1,25,00,000 shares. This means that the INR 450 Cr. issue was oversubscribed 1.11 times, thus making Infibeam the first Indian ecommerce firm to launch a successful IPO.
This week 20 startups raised about $230 Mn in funding altogether (the funding amount is based on the startups that disclosed their funding amounts).
Startup Fundings Of The Week
Horntell: Gurgaon-based tech startup Horntell raised $150K in angel funding led by Bharanidharan Viswanathan. Sanjiv Mital, Shobhit Shukla, and Rahul Agarwal also participated in this round of funding. The company is valued under $2 Mn at the moment.
WheelStreet: Bike rental startup Wheelstreet raised $500K in a funding round led by Broadbean Capital services. It plans to use the funding to expand its technological capabilities and expand into more geography.
StalkBuyLove: Online Fashion brand StalkBuyLove raised an undisclosed amount of funding from Germany-based venture fund Littlerock, 500 Startups, Singularity Ventures and others. The company will use the newly raised funds to accelerate its growth, invest in its talent base,strengthen its supply and fulfillment structures further.
Endless Robotics: Robotics startup Endless Robotics Pvt Ltd raised $100K in Pre-Seed round of funding via investment platform TermSheet.io. The round saw participation from individual investors and angel investment firms from the US, Singapore and India. The team plans to target small to mid-level new residential projects in Hyderabad.