Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
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.
Limo: Formerly known as rBus, Mumbai-based Bus aggregator, Limo, owned by Raftaar Technologies raised $1 Mn from Rainmaker Ventures. Limo runs chartered buses for corporates and individuals for office commute. It also provides services like wi-fi, app-enabled payments, flexible timings, and live tracking of buses.
Tpot: A New Delhi-based food-tech startup focused on serving the ‘chai-nashta’ segment, Tpot, raised seed funding led by Ashish Gupta, Founder & Trustee of Ashoka University and Co-founder of Evalueserve. He is also the principal investor at Tpot Café. With the infused fund, Tpot plans to expand its presence by taking its outlet count to over 50 by the end of the year.
1mg: Digital health platform, 1mg raised an additional investment from HBM as a part of its recently closed Series B round of funding. Earlier in April, 1MG had announced investment of $15 Mn in Series B funding from Maverick Capital Ventures along with existing investors Sequoia India and Omidyar Network.
Chikoop: Mobile app Chikoop, which allows advertisers to place ads on free voice calls, raised seed funding from two undisclosed investors. The funds raised will be used for expanding the team, enhancing the product and improving user acquisition.
Vahanalytics: A Mumbai-based tech-driven startup, raised $200K in a seed funding round from Venture Catalysts. The investment was led by Vikram Lakhotia, managing director of Standard Transport Corporation, and Anirudh Damani, partner at Artha India Ventures. The startup plan to utilise the raised funds for hiring talent and upgrading the servers for better analytics.
CCAvenue: Ahmedabad-based Infibeam invested about $6.7 Mn in payment gateway CCAvenue. The percentage of investment will be finalised in the definitive agreement, which will be signed later.
Machadalo: Mumbai-based ad-tech startup Machadalo raised $175K in a seed round of funding from IIT alums, serial entrepreneurs, angels, and some fund managers. The startup will use the funding for expansion in Mumbai and new geographies, for business development and for team expansion.
GoGo Truck: Chennai-based mini-truck aggregator GoGo Truck raised seed funding from a Madurai-based angel investor. The startup will be using the funds to consolidate its operations in Chennai and expand to Hyderabad. Further, it will be investing in marketing initiatives and brand-building activities.
Icliniq: Bangalore- and Coimbatore-based online doctor consultation startup icliniq raised an undisclosed amount in angel funding from Erode-based laparoscopic surgeon MadhanKumar Madathupalayam. The funds raised will be used for product development and technology.
Acquisitions Of The Week
Hyderabad-based digital marketing company, GenY Medium, acquired TailCurrent, a B2B lead generation company, for an undisclosed amount. GenY Medium is engaged in the business of managing brand perceptions in the online space with the use of technology and analytics.
Intel Capital exited its investment in IntraSoft Technologies Ltd, the Indian operator of US-focused e-gifting venture 123Greetings.com. It sold its remaining 5.3% stake in the public listed firm on Friday for $4.4 Mn.
.svg){kind=logo}