We bring to you the latest edition Funding Galore: Indian Startup Funding of the week. This week 12 Indian startups raised about $36 Mn in funding altogether in the Indian startup ecosystem. (The startup funding calculations are based on the startups that disclosed their funding amounts)
Indian Startup Funding Of The Week
EdGE Networks: Bengaluru-based EdGE Networks, an AI-driven HRTech solutions company secured $4.5 Mn in Series A funding round led by Kalaari Capital and Ventureast. The startup will use the capital to strengthen its core product offerings for workforce optimisation and talent acquisition.
HalaPlay: Kae Capital, along with Nazara Games made an undisclosed amount of investment in HalaPlay, a Mumbai-based daily fantasy sports platform. HalaPlay uses data analytics and machine learning to help users draft teams, analyse their playing behaviour and help them to improve fantasy skills. The aim is to increase sports fan engagement and improve viewership for sports by making matches interesting for its users.
Kalpnik Technologies: Venture Catalysts made a seed investment worth $500K into Mumbai-based AR/VR tech startup Kalpnik. The investment was led by Ashwani Kakkar (Mercury Travels & Via.com), G G Gulati (Chairman, United Group of Institutions), Bobby Reddy ( Indus Homes), Dr. Tinku Acharya (Co-architect-Webcam & MD-Videonetics), and Raja Sahi ( SVP, Pixelogic Media) and more along with investments from professionals from leading companies like CISCO, 24/7 etc. Vansh Gulati from UGI and Anuj Puri from Venture Catalysts will be joining the board of Kalpnik. The startup will use the funding to develop content for hundreds of temples and gurus and onboard the same on its platform.
Netmeds: Making it biggest Indian startup funding of the week, online pharmacy Netmeds raised $14 Mn funding led by Cambodian investment holding company Tanncam. The round also saw the participation of the Sistema Asia Fund. The startup is looking to utilise the capital infusion for expanding its geographical reach across India. The ultimate aim is to make affordable healthcare accessible to the masses.
Bigbasket: Making it second biggest Indian startup funding, online grocery startup BigBasket raised $8.02 Mn (INR 52 Cr) in funding from four of its existing investors. The startup funding round was led by Abraaj Basket, Bessemer Venture Partners along with International Finance Corp and Sands Capital.