We bring to you the latest edition Funding Galore: Indian Startup Funding of the week.
This week 18 Indian startups raised about $394 Mn in funding altogether and two startup acquisition took place in the Indian startup ecosystem. (The startup funding calculations are based on the startups that disclosed funding amount.).
One of the biggest Indian startup funding rounds of the week was online music streaming service provider Gaana revealing $115 Mn fundraise from Tencent and Times Internet in order to boost the user experience on its platform and strengthen its tech. The company intends to use AI to personalise music experiences for each consumer, to further develop its subscription product for paying users, and to develop aligned music experiences for Gaana consumers.
Also, Indian ecommerce major Flipkart infused $176 Mn in its fashion arm Myntra Jabong Private Limited. The fund infusion was done in February this year and the funding was routed through Flipkart’s Singapore-based subsidiary FK Myntra Holding Private Limited.
Indian Startup Funding Of The Week
NestAway: Making it the third biggest Indian startup funding of the week, home rental startup NestAway raised a $51 Mn funding from Goldman Sachs, UC-RNT Fund and the University of California.Apart from that, existing investors – including Tiger Global and IDG India – also participated in the financing round. NestAway’s post-money valuation reportedly stood at $180 Mn-$200 Mn.
Urban Ladder: Bengaluru-based online furniture retailer Urban Ladder raised $12 Mn from Sequoia Capital, SAIF Partners and Kalaari capital in Series E1 funding round. The startup will use the funding to further it’s omnichannel expansion, online and offline.