We bring to you the new edition Funding Galore: Indian Startup Funding of the week. This week 16 Indian startups raised about $100 Mn in funding altogether and six startup acquisitions took place in the Indian startup ecosystem. (The startup funding calculations are based on the startups that disclosed their funding amounts).
South African Internet and media conglomerate Naspers invested an additional $71 Mn in Flipkart. This deal marked the biggest startup funding round this week. This investment takes its holdings in Flipkart to 16.5%. The investment was actually done in April 2017. Naspers had first invested in Flipkart in 2012 during its Series D round and then in its $1 Bn Series G round raised in July 2014.
Indian Startup Funding Of The Week
Quantta Analytics: Data Analytics startup Quantta Analytics raised an undisclosed amount of funding in its Pre-Series A round. The round was led by undisclosed entrepreneurs and investors from India and Silicon Valley. The startup funding will be used in enhancing its tech stack, strengthening the core technology team, and expanding its presence across various cities in India. Also, the startup is in the process of setting up Quantta Labs in Silicon Valley.
SparesHub: The Chennai Angels (TCA) invested $61.8 K (INR 40 Lakhs) in Pune-based Iradium Automobiles Private Limited, the parent company of automobiles parts marketplace SparesHub.com. The investment was as part of the total investment round of INR 2 Cr. The round also saw participation from Anthill Scale Ventures (Singapore), Esvee Technologies Inc. (USA), Inc95 Consulting and other HNIs. The startup funding will be used to grow the current customer base of SparesHub, enter new geographical areas of operations and strengthen its technology platform.
FORMCEPT: Data analytics startup, FORMCEPT Technologies and Solutions Pvt. Ltd raised an undisclosed amount of Series A funding from VC fund GVFL (Gujarat Venture Finance Ltd). The Indian startup will use the newly raised funds to accelerate global growth.
ZingHR: Bhavin Turakhia-backed fintech startup Zeta invested an undisclosed amount in ZingHR, a Chennai-based cloud services provider. With this move, India startup ZingHR will now offer Zeta’s digital employee benefits solutions such as meal vouchers, paperless claims for medical, LTA, fuel, mobile and so on. This investment will further bolster equity infusion along with existing investors Triton.