We bring to you the latest edition funding Galore: Indian Startup Funding of the week.
This week 18 Indian startups raised about $115 Mn in funding and three acquisitions took place in the Indian startup ecosystem. (The startup funding calculations are based on the startups that disclosed their funding amounts).
Making it the most talked about Indian startup funding of this week, budget hotel booking marketplace OYO raised $10 Mn from China Lodging Group Limited. The investment is part of a MoU between both the firms to facilitate and strengthen collaboration to build a global hospitality business. The news comes just a few days after it raised $250 Mn in a Series D funding round led by SoftBank.
However, this week the Indian startup which grabbed the largest funding amount was Smaaash. Sachin Tendulkar backed virtual reality gaming and entertainment company Smaaash raised $44 Mn (INR 280 Cr) in a round led by Edelweiss Group’s non-banking finance unit, ECL Finance. Smaaash has been looking to set up centres in the US and in the Middle East.
Indian Startup Funding Of The Week
Ecom Express: This is the second highest Indian startup funding of the week. Delhi-based logistics solution provider Ecom Express raised $30 Mn (INR 192 Cr) from existing investor Warburg Pincus. The investment was done through Warburg Pincus’ unit Eaglebay Investment. Over the next two years, the company will look to expand its reach to 20,000 pin codes covering more near 3,000 towns and cities.
WittyFeed: Content marketing platform WittyFeed raised an undisclosed amount of funding in a Pre-Series A round from a group of marquee investors including Anand Chandrasekaran, former Snapdeal CPO; Apurva Chamaria, VP & Head Corporate Marketing , HCL Technologies; Ritesh Malik, co-founder, Innov8; Ashish Toshniwal , CEO, Y Media Labs; angel investor Ajeet Khurana; Aneil Mahajan, Ex COO, Bhaskar Group; Piyush Goel, founder and CEO Beyond Key Systems; Singapore Angel Network, and Harsh Mani Tripathi, founder Pyoopil Education Technologies. The company plans to use the startup funding to strengthen its technology infrastructure, enhance its distribution platform, as well as for augmenting its product portfolio. The funding will also be used for the expansion of its sales team to dive deep into the content-driven platforms and video making for brands while exploring other domains as well.