Two funds Fidelity Rutland Square Trust II and Valic Co. have marked down their stake in Flipkart by 20%. Valic and Fidelity had picked up shares in Flipkart as a part of its series D round of funding in 2013, when Flipkart had raised $360 Mn in two tranches.
This week 36 startups raised about $77 Mn in funding altogether (the funding amount is based on the startups that disclosed their funding amounts).
Startups That Raised Funds This Week
Zebroads: Online logistics and warehousing startup, Zebroads, raised $75K (INR 50 Lakh) in seed round of funding from undisclosed investors. The team plans to invest the raised funds in increasing warehousing space, technology upgradation and improvement in manpower.
EduAce: Edtech startup EduAce Services raised $1 Mn (about INR 6.6 Cr.) in Seed funding from Delhi-based mobile Internet company MoMagic Technologies. The raised capital will be used to add more learning programmes and expand its operations pan India.
Unbxd: Ecommerce product discovery & recommendation platform, Unbxd Inc., raised an undisclosed amount in its Series B round led by Nirvana Venture Advisors. Other participants in the round were IDG Ventures, Inventus Capital, and IAN. The startup will use the funds to improve the product, accelerate sales, and to expand the sales & marketing team.
Lenskart: Eyewear etailer Lenskart raised $60 Mn (INR 400 crore) in Series D round of funding. The round was led by World Bank arm IFC with an investment of $25.6 Mn (INR 171 crore). This round saw participation of Infosys co-founder Kris Gopalakrishnan, Zurich-headquartered asset management firm Adveq Management, along with the existing investor TPG Growth and IDG Ventures.