We bring to you the latest edition of Funding Galore: Indian Startup Funding Of The Week!
In one of the biggest funding round this week, Mumbai-based real estate startup MultiLiving has raised $6 Mn in fresh funding from Lodha Ventures. Lodha Ventures head Abhinandan Lodha has been named on board of advisors.
With this, MultiLiving has also launched its operations in Mumbai with a limited number of curated flats at some of the most premium locations across Mumbai including Lower Parel, Powai, BKC, Kanjurmarg and Vikhroli.
Overall, 15 startups raised around $21.5 Mn funding in the Indian startup ecosystem this week. (This funding report is based on startups that disclosed funding amount.)
Indian Startup Funding Of The Week
- MultiLiving: $6 Mn
- FamPay: $4.7 Mn
- AutoMony: $3 Mn
- Airmeet: $3 Mn
- Karbon Card: $2 Mn
- Purple Style Labs: $1.7 Mn
- Lal10: $1.1 Mn
- Anaxee Digital Runners: Undisclosed
- Om Bhakti: Undisclosed
- Spectacom: Undisclosed
- Fashion Is One: Undisclosed
- CollegeKhabri: Undisclosed
- Cardiotrack: Undisclosed
- Cross Border Kitchens: Undisclosed
- MeraKisan: Undisclosed
Bengaluru-based fintech startup FamPay has raised $4.7 Mn in a seed funding round from Y Combinator, Venture Highway, Sequoia India and Global Founders Capital (GFC). With the funding, FamPay is planning to add more members to its engineering team to enhance its technology stack.
Mumbai-based vehicle financing company AutoMony has raised $3 Mn in Series A funding. The investment has come in from Asha Impact, Sundaram Finance and other HNIs. The funds will be used to expand in new geographies and strengthen its technology platform.
Bengaluru-based online conferencing platform Airmeet has raised $3 Mn in a funding round led by Accel India. The startup will utilise the funds for enhancing the capabilities of the online meeting platform to host multiple events formats.
- Karbon Card
Bengaluru-based fintech startup Karbon Card has raised $2 Mn seed funding from Cred founder Kunal Shah, and Citrus Pay cofounders Amrish Rau and Jitendra Gupta. Karbon plans to expand its services to more startups in India by the end of the fiscal year 2020.
- Purple Style Labs
Mumbai-based fashion label Purple Style Labs has raised $1.7 Mn (INR 12.6 Cr) in multiple tranches from May 2019 to March 2020. Lemon Innovision Ventures, Progressive Consultancy, Foray Universal Consultancy, Premier Financial Services, Vistra ITCL, Astarc Ventures, BNM Fincorp, Lemon Innovision Ventures, and a few angel investors have invested in the company during this period.
Noida-based B2B platform Lal10 has raised $1.1 Mn in its Pre-Series A funding round led by US-based Utah’s Sorenson Impact Fund. Beyond Capital, Pegasus Finvest, Upaya Ventures, AngelList Collective, and Gemba Capital also participated in the funding round. Lal10 is aiming to achieve efficiency in the supply chain by investing more towards the technology aspect of the company.
- Anaxee Digital Runners
Indore-based tech-enabled ID verification and data collection agency, Anaxee Digital Runners, has raised an undisclosed amount of funding from Orios Venture, LetsVenture, Keiretsu Forum, GAIN and Swan Angel Network. Anaxee was founded in 2016 by Arti Agrawal and Govind Agrawal. It helps companies gain traction in Tier II, Tier III and beyond regions by providing last-mile reach and assistance in customer acquisition, onboarding, lead generation, data collection, KYC and survey.
- Om Bhakti
Bengaluru-based cotton wicks maker Om Bhakti has raised an undisclosed amount of seed funding from Venture Catalyst. The seed funding will help the company to expand into new geographies and strengthen marketing strategy.
Gurugram-based sports-tech startup Spectacom Global Pvt Ltd had raised an undisclosed amount of funding from telecom major Bharti Airtel as part of the Airtel Startup Accelerator Programme. Airtel will work closely with Spectacom to help increase awareness and adoption of its health and fitness platform.
- Fashion Is One
Fashion events organiser Fashion Is One has raised an undisclosed amount of funding from Gurugram and Noida based angel investors. FIO plans to launch a global incubation centre in association with its industry body, Asian Fashion & Design Council and Whizdom Club by MQDC. The startup is known for organising Asian Designer Week.
Bhopal-based edtech platform College Khabri has raised an undisclosed amount of funding in an angel round from Vdiec Global Pvt ltd led by Vishal Dixit. The funding will be used to expand flagship products and services for abroad education.
Healthtech startup Cardiotrack has raised an undisclosed amount of funding from the Singapore based private equity platform Frontline Strategy Funds along with participation from angel investors. The investment will be utilised to grow the company’s customer base in India and international markets.
- Cross Border Kitchens
New Delhi-based kitchen startup Cross Border Kitchens (CBK) has raised an undisclosed amount of funding in an angel round led by Shreedhar Gupta. Gupta had also joined the board member of the company. In the next 18 months, CBK plans to have a presence in seven major cities in India with different formats.
Pune-based agritech startup MeraKisan has raised an undisclosed amount of funding from Indian cricketer Ajinkya Rahane. As part of this deal, Rahane would also be the brand ambassador of MeraKisan.
Other Developments Of The Week
Bengaluru-headquartered venture capital firm Chiratae Ventures has announced the launch of its Innovators Programme aimed at shining the light on deeptech innovation in India
Debt fund management company Northern Arc Investments has announced the first closing of its latest fund — Northern Arc India Impact Fund — at $23 Mn. This is the eight fund of Northern Arc Investments fo which the company has set an overall target of $100 Mn.
Tokyo-based venture capital firm STRIVE has announced the final close of its third fund — STRIVE III — at over $100 Mn to continue its investment spree in India, Southeast Asia and Japan.
Department of science and technology (DST), government of India, along with Intel India and Society for Innovation & Entrepreneurship (SINE)-IIT Bombay has announced the third edition of Plugin, a one-year collaborative accelerator program for hardware and systems software startups.
Zone Startups India is enabling a department of science and technology (DST) seed fund support system for promising startups with a corpus of INR 5 Cr under the scheme National Initiative for Developing and Harnessing Innovations — Seed Support System (NIDHI-SSS)” of the DST.
Britannia Marie Gold has launched the second season of its annual ‘Britannia Marie Gold My Startup’ initiative which provides financial assistance to homemakers with entrepreneurial ideas.
Stay tuned for the next week edition of Funding Galore: Indian Startup Funding Of The Week!