We bring to you the latest edition Funding Galore: Indian Startup Funding of the week. This week 12 Indian startups raised about $78 Mn in funding altogether in the Indian startup ecosystem. (The startup funding calculations are based on the startups that disclosed their funding amounts)
Making it this week’s biggest Indian startup funding mobile gaming company Nazara Technologies raised $51 Mn in a funding round led by IIFL Special Opportunities Fund.
Also, the Japanese conglomerate, along with Flipkart and Tencent, is gearing up for a $200 Mn-$250 Mn investment in foodtech startup, Swiggy. If successful, the investment would likely take place at a pre-money valuation of $600 Mn-$650 Mn.
Indian Startup Funding Of The Week
Smaaash: Sachin Tendulkar backed virtual reality gaming and entertainment company Smaaash raised $3.8 Mn (INR 25 Cr) from Mumbai-based consumer-centric VC firm, Sixth Sense Ventures.With the newly-secured investment, Smaaash is aiming to strengthen its physical presence in domestic as well as international markets. A portion of the financing will also be spent on making its augmented reality technology ready for the booming online gaming market.
Chumbak: Bengaluru-based design-led lifestyle brand Chumbak secured $13.1 Mn (INR 85 Cr) funding from mid-market private equity firm, Gaja Capital, along with existing backers Matrix Partners India and Seedfund. Narayan Ramachandran, the Operating Partner at Gaja Capital, also joined the funding round in Chumbak.
MobieFit: Mobile fitness startup Mobiefit raised $1.35 Mn (INR 8.85 Cr) in a Pre-Series A funding round led by NB Ventures and existing investor, MediAssist India. The investment follows the startup’s Seed round of $1 Mn in December 2015.