We bring you the new edition Funding Galore: Indian Startup Funding of the week. The funding activity in the Indian startup ecosystem.
This week 12 Indian startups raised about $244 Mn in funding. (The startup funding calculations are based on the startups that disclosed their funding amounts).
Making it the biggest startup funding of the week, Gurugram-based Just Buy Live, an e-distributor that connects retailers to consumer brands, raised $100 Mn Series B funding from Ali Cloud Investments, a Dubai-based investment firm. The startup will use the recently raised funds towards expansion into Indian operations as well as international markets. It will target markets that have high SME density and fragmented distribution.
Indian Startup Funding Of The Week
Capital Float: This is the third-highest Indian startup funding of the week. Bengaluru-based online SME lending platform Capital Float raised $45 Mn Series C funding led by Silicon Valley-based Ribbit Capital. The round also saw participation from existing investors SAIF Partners, Sequoia India and Creation Investments. Capital Float currently has an active loan book of $109 Mn (INR 700 Cr) and plans to grow these assets under management to $234 Mn (INR 1,500 Cr).
EasyGov: Noida-based SaaS startup EasyGov raised an undisclosed amount in angel funding round led by Social Alpha, a Tata Trusts initiative. Other angel investors including Rajan Anandan, Rajeev Ahuja (Navayuga Group), Kshitij Arora and other investors on LetsVenture also participated in the round. The startup funding will be used to develop local language support. The Indian startup will also utilise a part of the money towards product enhancement and research and development.
Ezetap: Bengaluru-based mPOS solutions provider Ezetap raised $16 Mn in a funding round led by JS Capital Management, the VC arm of Jonathan Soros. As part of the round, the startup’s existing investors, Social Capital and Hong Kong-based Horizons Ventures, also increased their stake in the digital payments company. The Indian startup will be using the investment to innovate further and expand its payments platform. Ezetap is also currently looking to increase its sales and operations across most cities in India as well as overseas. Post the funding round, Salil Seshadri, the Chief Information Officer at JS Capital Management, will be joining Ezetap’s Board.