We bring to you the latest edition Funding Galore: Indian Startup Funding of the week.
This week 15 startups raised about $27 Mn in funding altogether in the Indian startup ecosystem. (startup funding calculations are based on the startups that disclosed funding amount.)
One of the biggest Indian startup funding of this week was raised by NiYO Solutions. The Bengaluru-based fintech startup secured $13.2 Mn (INR 85 Cr) in Series A funding from Social Capital, JS Capital LLC, Horizons Ventures and existing investor Prime Venture Partners. The fresh funds will enable NiYO Solutions to expand its presence across tier II and tier III cities.
Also, this week news surfaced that Ola had acquired Foodpanda India from Germany-based Delivery Hero Group for $31.7 Mn (INR 202 Cr). As per its filings with the Ministry of Corporate Affairs, Ola parent ANI Technologies issued preference shares worth $4.4 Mn (INR 28 Cr) last month to Pisces eServices, the Indian company that operates Foodpanda.
Indian Startup Funding Of The Week
Hippo Video: Online video-as-a-service (VaaS) platform Hippo Video raised an undisclosed amount of Pre-Series A funding from Kae Capital. The newly-secured funding will be utilised to expand the startup’s present operations to Europe, apart from India and the US.
Kinsane: Global digital entertainment company Kinsane Entertainment Inc raised $2.5 Mn funding from an undisclosed consortium of angel investors. Kinsane Entertainment Inc. is a US-based corporation which operates in India through its subsidiary, Kinsane Digital LLP. With the new funding round, the startup plans to launch over eight new shows and 100 games featuring 30 new and compelling characters over the next 12 months. The core target markets for their content are the US, Europe, India, Brazil, and China.