We released the funding report for the month of May 2016, 87 deals and over 15 acquisitions were recorded last month. While, ecommerce remains the major sector to receive maximum deal value, HealthTech has emerged as the top sector in terms of number of deals. Also, for the second consecutive month, Delhi witnessed maximum deals.
This week 15 startups raised about $8 Mn in funding altogether (funding amount is based on the amounts disclosed by the startups).
Startup Fundings Of The Week
Droom: Gurgaon-based Droom in its Series B round of funding led by BEENEXT and Digital Garage of Japan. Couple of few more new and existing investors LightBox Ventures and Beenos also participated in this round. The proceeds will be used to make the platform more scalable and functionally rich, adding more business lines, expanding the sales teams, and for international expansion particularly in Southeast Asia.
BRIDGEi2i: Analytics solutions startup, BRIDGEi2i raised an undisclosed amount of secured Series A funding from Edelweiss Private Equity. The raised funds will be used to fuel its ability to deliver greater value to customers by enabling them to accelerate the development of machine learning based business applications, along with significant expansion of its consulting teams across India and the United States.
Atomberg: Mumbai-based Atomberg that makes smart, energy efficient home appliances, has raised $1 Mn from Parampara Capital. The startup will use the newly raised capital for increasing manufacturing capacity, automating the plant, product development and increasing online presence.
CoutLoot: Fashion recommerce platform CoutLoot raised an undisclosed amount of seed funding from Venture Catalysts. For Venture Catalysts, this marks their first investment in ecommerce sector. The startup will use the proceeds for strengthening its technology backend, expanding its team, and to roll out its campus trendsetter programs in colleges.