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Funding Galore: Startup Fundings Of The Week [23 May – 28 May]

Funding Galore: Startup Fundings Of The Week [23 May – 28 May]

This week, Bangalore-based Venture Capital firm, Saama Capital India Advisors, announced that it has raised $31 Mn for its third venture capital fund. The VC firm will invest between $2 Mn to $5 Mn at a stretch in each company.

On the other side,  Singapore-based venture capital firm B Capital Group, founded by Eduardo Saverin, co-founder of Facebook, and Raj Ganguly, a Silicon Valley investor, closed its $143 Mn fund to focus upon Southeast Asian and Indian startups.

Also, Los Angeles-based March Capital Partners closed $240 Mn venture capital fund to invest in tech startups globally.

This week 15 startups raised about $7 Mn in funding altogether (the funding amount is based on the startups that disclosed their funding amounts).

Startups That Raised Funds This Week

cleartaxClearTax: Fintech startup ClearTax, which facilitates users to file taxes and returns online, raised $2 Mn (INR 13.3 Cr) from FF Angel and Sequoia Capital. With the new proceeds, it plans to launch consumer-focused tax-saving products including mutual funds and other equity-linked saving schemes. The funding will also be used for expanding its team.

arcatronArcatron Mobility: Arcatron, a startup that builds mobility devices for individuals with limited mobility and elderly care needs, raised $100K funding led by Vaibhav Kulkarni and Sudhir Mehta from IAN. The round was a convertible note seed round to help it carry on R&D, International Patent filings and field trials for planned product.

roastRoast: Mobile entertainment app Roast secured an undisclosed amount of funding from IAN under the ‘Small Ticket Funding programme’. Sanjay Mehta led the round of investment on behalf of IAN and will also join the company board to further mentor the team. The startup plans to utilise the investment for acquiring customers and to invest in its technology platform.

address healthAddressHealth: Pediatric primary healthcare network AddressHealth raised $1.5 Mn (INR 10 Cr) in Series A funding led by Gray Matters Capital, along with its existing investor Unitus participating in the round. The startup will use the funding to expand its healthcare model in order to leverages schools, deliver comprehensive primary healthcare to children proactively, at a low cost.

lbbLittle Black Book (LBB): A local discovery platform Little Black Book raised $1.2 Mn from IDG Ventures India and Indian Angel Network. The startup claims to reach over 1 Mn users every month. It plans to utilise the funds for technology expansion and talent acquisition along with expanding its base to other cities.

consure medicalConsure Medical: Healthcare startup Consure Medical raised an undisclosed amount of funding led by venture capital firm Accel Partners with participation from earlier investors – Indian Angel Network, India Innovation Fund and India Venture Partners. The startup will use the funds for entering new markets, product development and growing customer reach with robust channel partnerships.

goalwiseGoalwise: Online investment advisory platform, Goalwise, closed an angel funding of $1 Mn (INR 6.8 Cr) from undisclosed high net-worth individuals. It plans to use the newly raised capital to scale up technology and operations efforts.

jazzmyJazzmyride: TVS Automobile Solutions Ltd (TVS ASL), a part of the $6 Bn TVS Group, picked up a majority stake in an online seller for car & bike accessories and spare parts JazzMyRide. With TVS Automobile investing in Jazzmyride, the company will enhance its automobile aftermarket offerings in the ecommerce zone.

shetheSheThePeople.TV: Anand Mahindra, Chairman of Mahindra Group invested an undisclosed amount in digital storytelling platform for women. Mahindra has invested in his private capacity. The funds will be used to help the startup to launch new initiatives including forums, events and regional languages.

edurevEduRev: Edtech startup EduRev raised an undisclosed amount of funding in a Pre-Series A round from Pradeep Reddy Kamasan. With this, Pradeep has joined EduRev as a strategic investor, to help EduRev obtain new customers across southern India. With the new funds, it plans to introduce a new model that will help colleges in admitting new students.

hoppingoHoppingo: Fashion discovery platform Hoppingo raised $89K (INR 60 lakh) from vCommission in its second round of funding. The startup aims to achieve 10,000 transactions by October this year.

lets serviceLet’s Service: An on-demand marketplace and booking platform for two-wheeler servicing, Let’s Service, reportedly raised angel funding from QuEST Global chief operating officer Ajay Prabhu and Julia Computing Inc. co-founder Deepak Vinchhi.

piantaPianta: Home healthcare services marketplace Pianta raised undisclosed amount in seed funding from FreeCharge founders Kunal Shah and Sandeep Tandon.

mchampmChamp: mChamp Entertainments, which conducts celebrity-related and entertainment contests on its app, raised about $745K (INR 5 Cr) in seed funding from MoMagic Technologies Pvt Ltd. The startup claims to have organised around 50 ‘Meet and Greet’ events so far.

eatonomistEatonomist: An online platform that delivers meals prepared at its kitchens, Eatonomist, raised an undisclosed amount in seed investment from MCube Capital Advisors Pvt Ltd, as it tries to enhance operations. The startup is currently operating in Gurgaon and caters to corporates.

Online Forex aggregator Fxkart.com is planning to raise $5 Mn in Series A round of funding.

Smaaash Entertainment, a sports-based virtual entertainment company co-owned by Sachin Tendulkar, is close to raising about $30 Mn (INR 200 Cr) from private equity investors to fuel its expansion plans.

Acquisition Of The Week

  • Online learning platform EdCast Inc acquired Sales-University, sales training app maker, for an undisclosed amount. With the acquisition, EdCast plans to expand its enterprise learning to Sales organisations
  • A startup that offers personalised nutritionally balanced food, Jiyo Natural acquired Sangeetha Aahar, food delivery company, for an undisclosed amount. With this, Jiyo Natural is hoping to grow its revenue by 30% and to increase its capacity by 140%

Other Developments Of The week

Author

Team Inc42

Inc42 Staff

Inc42 Media is a digital media startup known for its end-to-end coverage of the Indian Startup Ecosystem. Inc42 has published 15,000+ stories so far and touch the lives of over 10 million people every month. Join us and be the part of the startup revolution.

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