Funding Galore: A Look At Startups That Raised Some Big Money This Week

Startups including big ecommerce firms like Flipkart, Amazon are working hard to get new customers, maintain their high growth rate and to expand their product range. Thus, all are trying either raise funds. Passing week, few managed to raise big funding rounds and few even managed to acquire startups. Let us have a look at who benefited from what this week.

Peel-Works – This startup raised $2 Mn funding from Inventus Capital & IDG Ventures. It is a SaaS and big-data analytics company enabling sales-force & traditional trade transformation. The investment received will be utilised to expand its existing offerings, hire senior management and ramp up technology and product development.

Portea Medical – Qualcomm Ventures has recently invested in Portea Medicalwhich is a home healthcare firm. The firm plans to expand its platform to over 50 cities and bolster their technology platform.

SocialCops – Technology data company, SocialCops raised $320K seed from 500 startups, Rajan Anandan and more. It aims to power decision making through better data sourced from the grassroots to solve problems facing humanity.

Knowlarity Communications– It raised $16 Mn in funding from Sequoia and Mayfield. It is a cloud telephony services provider. It plans to infuse the raised funds in technology and international expansion. Further, the company has also planned out to acquire some of its competitors.

Flipkart– It raised $1 Bn in fresh round of funding co-led by Tiger Global Management and Naspers, which is the biggest funding round that any ecommerce company has raised in India. The funds will be used to make long-term strategic investments in India, especially in mobile technology.

ACQUISITIONS

KDK Software – This startup was acquired by Intuit India. It provides cost-effective software solutions to tax professionals and SMEs in the country. With this acquisition and its integration with the popular worldwide solution Intuit QuickBooks, Intuit will be able to offer a robust solution for accounting, tax computation and e-filing.

Karmic Lifesciences – Karmic was acquired by Cliantha Research a global life sciences company. Karmic Lifesciences is a Mumbai based Contract Research Organization.