Amazon’s investor, Tiger Global Management, which happens to be the largest investor in rival Flipkart reduced its stake in Amazon by nearly 67% in the March-ended quarter.
This week 16 startups raised about $6 Mn in funding altogether (the funding amount is based on the startups that disclosed their funding amounts).
Startups That Raised Funds This Week
Niki.ai: Ratan Tata invested an undisclosed amount in artificial intelligence (AI) based chatbot along with Ronnie Screwvala’s Unilazer Ventures participating in the round. The startup plans to expand aggressively across categories and facilitate more consumer delight through the newly raised capital.
VEQTA: Mobile-based digital broadcast network dedicated to Sports, VEQTA, raised $500K in Seed funding from early stage venture capital firm Chatsworth Management and sports management company ITW Digital. It plans to utilise the funding to expand its rights portfolio, build the team, invest further in product development and grow consumer reach.
Appie: O2O platform which helps consumers discover product availability and price from different offline retailers located in their vicinity, Appie, raised $1 Mn in a bridge round of funding from three undisclosed investors. The proceeds will be used for the launch of the product, to create adequate traction in terms of business and strategic alliances and to build up a consumer base for seamless implementation of the business model.
Parentlane: Tech-based startup focused on child development Parentlane raised an undisclosed amount of funding in an angel round led by Sujeet Kumar, Aprameya Radhakrishna, Sumit Jain, Subramanya Venkat, Venk Krishnan, Ravi Machani, Hitesh Gupta, and Rohit Choudhary.