We bring to you the latest edition Funding Galore: Indian Startup Funding of the week.
This week 12 Indian startups raised approximately $10.5 Mn in funding and three startup acquisitions took place in the Indian startup ecosystem. (The Indian startup funding calculations are based on the startups that disclosed their funding amounts).
Indian Startup Funding Of The Week
Fashalot: Gurugram-based Fashalot, a location-based O2O fashion discovery platform, raised an undisclosed amount of Pre-Series A funding. The round was led by Capillary Technologies and saw participation from Whiteboard Capital and existing investors YourNest Angel Fund, Rajul Garg. The startup funding will be used to update its technology, hiring more talent and to scale its user base.
Transerv: Goa-based Transerve Technologies, a startup that offers geospatial technology-based SaaS solutions raised $1.6 Mn Series A funding from IL&FS Investment Managers and Omidyar Network. Transerve was incubated at the Center for Innovation, Incubation and Entrepreneurship (CIIE)- IIM Ahmedabad. This Indian startup is also supported by the Centre for Incubation & Business Acceleration (CIBA), Goa.
Inclov: Inclov, a matchmaking app for people with disability and health disorders raised an undisclosed amount of Pre-Series A funding. The funding round of Indian startup saw participation from angel investors Rajan Anandan, Jamil Khatri, Ravi Iyer, Debjani Ghosh (Ex-MD, Intel South Asia) and Quintillion Media’s founder Raghav Bahl (also the founder, Network 18). The startup will use the funds towards product development and geographical expansion in the coming years.
Multibashi: Jaipur and Bengaluru-based language learning startup Multibashi raised an undisclosed amount of Seed funding from angel investor Aniruddha Malpani and Startup Oasis. The Indian startup will spend the funding to strengthen its team, scale up the core technology and add new courses.