We bring to you the latest edition Funding Galore: Indian Startup Funding of the week. This week 17 Indian startups raised about $47 Mn in funding altogether in the Indian startup ecosystem. (The startup funding calculations are based on the startups that disclosed their funding amounts)
One of the most important Indian startup news of the week was Valic marking down Flipkart’s valuation to $7.9 Bn.
Indian Startup Funding Of The Week
Kissht: Mumbai-based fintech startup Kissht raised $10 Mn (INR 67 Cr) from Chinese investment conglomerate, Fosun International. The startup’s existing investors, Endiya Partners, and Ventureast also participated in the equity financing round, which closed last week. In a bid to bolster its data science capabilities, the startup is looking to utilise the proceeds from the fundraise to hire new engineering and analytics teams. Furthermore, Kissht is keen on expanding its presence across 15 to 20 tier II and tier III cities in India. This was the second biggest Indian startup funding round raised by an Indian startup this week.
Qubole: Making it this week’s biggest Indian startup funding round, Bengaluru and Singapore-based big data startup Qubole raised $25 Mn in a funding round led by Singtel Innov8 and Harmony Partners. Qubole’s this round was the second biggest Indian startup funding round for the week. Startup’s existing investors Charles River Ventures, Lightspeed Venture Partners, Norwest Venture Partners and Institutional Venture Partners also participated in this funding round. The funding will enable the startup to strengthen its presence in the Asia Pacific region.
FreshUp: Chennai-based hospitality startup FreshUp raised $1.5 Mn in Seed Funding from Singapore-based Lotus Global Investments. Freshup now aims to strengthen its presence in South India. The startup will further utilise the funding to expand its presence in other Indian cities including Guruvayur, Bengaluru, Chennai, Sabarimala.