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Freshworks Raises Millions, Values the Company at $1.5 billion

1Aug By Gauri SinghNo Comments

FUNDING

Freshworks Raises Millions, Values the Company at $1.5 billion

Business software tools provider Freshworks has successfully raised $100 million in a funding round led by Sequoia and Accel Partners. Along with these investors, CaptialG also participated in the funding round. The particular round has valued the company at $1.5 billion, which was previously worth $750 million when it had earlier secured an amount of $55 million from Sequoia Capital India and Accel Partners in November 2016. The funds raised through this funding round will be used to further grow its worldwide expansion and invest in its integrated SaaS platform. "With the addition of Suresh leading our financial management and strategy toward a path of free cash flow break-even and our latest – and likely last – private funding round in place, we believe we have a unique opportuni...

Healthcare Platform MyHealthcare Raises $2 Million

1Aug By AnkitaNo Comments

FUNDING

Healthcare Platform MyHealthcare Raises $2 Million

Gurgaon based Online Healthcare platform MyHealthcare raises funds worth $2 million led by Hunch Ventures and Ajay Nanavati, Angel Investor and Retired Managing Director of 3M India & Israel. The MyHealthcare platform needs to connect to a hospital’s existing HIS to deliver the suite of services to its Patients, Doctors, and Paramedic staff. "Our platform works with hospitals, in enhancing their care solutions by transitioning the care process from paper to digital form. Making healthcare easily accessible, affordable and ensuring accuracy of care is our single focus at MyHealthcare," said founder and director of Myhealthcare, Shyatto Raha. "Having spent many years building 3M's healthcare businesses globally, the problem MyHealthcare is providing a solution to is very real. The...

App maker forBinary Secured Funds from JRS Investments & Others

31Jul By Gauri SinghNo Comments

FUNDING

App maker forBinary Secured Funds from JRS Investments & Others

A do-it-yourself (DIY) app maker platform forBinary based in Mumbai has raised seed funding from JRS Investments and other angel investors. The amount raised by the company in this funding round has however not been disclosed. According to Shrey Singh, co-founder of forBinary, the company will be using these funds to accelerate its growth and expand product offerings. The company basically operated a software-as-a-service (SaaS) platform that allows business-to-business (B2B) enterprises go mobile instantly, without the need for writing codes. Launched in 2016, the company was founded by a group of IIT Bombay and IIT Delhi alumni, Anish Sankhe who is the chief executive, Ashish Ranjan, who is the tech head and Singh, the chief business officer of forBinary. “Organisations, especiall...

31Jul By Gauri SinghNo Comments

FUNDING

Healthtech Firm HealthPlix Raises $3 million in Series A Funding Round

HealthPlix, an online healthcare startup based in Bengaluru has secured funds amounting to $3 million in a Series A funding round. This round was led by IDG Ventures and Kalaari Capital. Post the round, the company will utilize the funds in strengthening its technology and grow its medical specialties. The company aims to bring a transformation in the way diseases are treated in the Indian outpatient care. The startup was founded in 2014 by Raghuraj Sunder Raju, Sandeep Gudibanda and Prasad Basavaraj, which at present, claims to provide services across 20 states and 130 cities in India. It caters in specialties including Diabetology, Cardiology, Nephrology, Endocrinology, Oncology and Internal Medicine. Most of the queries received by the company are from Maharashtra which is furt...

31Jul By Press Trust of IndiaNo Comments

FUNDING

Cure.fit Raises $120 mn Funding led by IDG, Accel

Health and fitness startup Cure.fit today said it has raised USD 120 million funding (Rs 824 crore) in new round of funding led by IDG Ventures, Accel Partners and Kalaari Capital. The series C round funding also saw participation from Chiratae Ventures and Oaktree Capital, Cure.fit said in a statement. "The fresh investment will enable Cure.fit to strengthen technology platform, invest in building a national brand and scale the geographical footprint for the company's four flagship products Cult.Fit, Eat.Fit, Mind.Fit and Care.fit," it added. Founded in 2016 by Myntra co-founder Mukesh Bansal and former Flipkart executive Ankit Nagori, CureFit operates a chain of fitness centres under Cult.Fit. It also focusses on mental fitness (through Mind.fit), healthy food (Eat.fit) and primar...

30Jul By NitishNo Comments

FUNDING

AI Startup Antworks Raises $15 Million Funding

Singapore based AI platform AntWorks raises USD 15 million (about Rs 103 crore) from SBI Investment Co Ltd, a subsidiary of Japan's SBI Holdings, Inc. The funding will use in enterprise RPA (Robotic process automation), fuel R&D and foray into newer markets. Antworks has delivery centers and offices in Singapore, Australia, India, the Philippines, Qatar, Sri Lanka, the United Kingdom, and the United States. Co-founded by Asheesh Mehra and Govind Sandhu in 2015, Antworks have more than 450 customers globally. In October 2015, the company purchased Benchmark Systems, a company based in the United States. At the time, AntWorks primary delivery system was in Pune, India. Its first year, the company had $11 million in revenue. The funding will help AntWorks and SBI Holdings t...

Byju’s Plans To Raise $250 Million From Softbank & Others

30Jul By AnkitaNo Comments

FUNDING

Byju’s Plans To Raise $250 Million From Softbank & Others

Education Technology and Training expertise platform Byju’s is in talks with SoftBank and different traders to lift $200-250 million to fund its international growth plans. In the recent talks, the deal is yet to be finalised. Byju’s is in news to lift about $200-250 million from SoftBank and others. They’re nonetheless discussing the factors. This can assist catapult their worldwide growth. If the deal is successful it would possibly value the company at around $2 billion as stated by Byju's. “We by no means touch upon hypothesis,” mentioned a SoftBank spokesperson to an electronic mail question from ET, whereas a spokesperson of Byju’s mentioned that they had “no feedback” to supply, mentioned Byju's. Byju’s-The Learning App, which is the education technology pla...

30Jul By Gauri SinghNo Comments

FUNDING

Shuttl Raises Series B Funding Round From Amazon

Online minibus service Shuttl has successfully raised an amount of $11 million (about Rs 75 crore) in a series-B financing round. This particular funding was led by Amazon, in connection with the Amazon Alexa Fund, and Dentsu Ventures along with existing investors. The funds so raised will be utilized for product development, expansion into new cities and marketing. The company is also looking to increase the routes and frequency of its bus shuttle service in Delhi. Amit Singh, the chief executive officer of Shuttl said, “At Shuttl our mission is to take the pain away from everyone’s commute and reduce congestion in cities via a seat-based smart bus option. We have shown that this can be done at scale. We will continue to improve the consumer experience, design more routes, and restore...

28Jul By Gauri SinghNo Comments

FUNDING

Funding of the Week (23rd July – 28th July)

Funding is a major part of a growth and expansion of the company, especially in case of startups. For startups, funding is the only source of motivation that can lead them to what they have planned and help them in the implementation process. This week we witnessed many companies that raised a valuable amount of funds from various investors and also revealed their plans for the utilization of the funds so raised. The maximum amount was raised by Awfis Space Solutions that was $20 million, and the funding round was led by company’s existing investors global venture capital firm Sequoia Capital and The Three Sisters: Institutional Office. So here we have the list of the top 5 funding activities that took place in the previous week. ...

Paytm to Raise Millions for Pushing its O2O Retail Business

28Jul By Gauri SinghNo Comments

FUNDING

Paytm to Raise Millions for Pushing its O2O Retail Business

One97 Communications, the company that owns Paytm is reportedly eyeing to raise $300-$500 million for the purpose of pushing its online-to-offline (O2O) retail business and get customers to use its platform for making payments. At present, Paytm is in advanced talks with US-based investors and also its existing shareholder, SoftBank for the latest funding round, which is expected to value the digital payments giant at about $10 billion. The funds raised through the particular funding round will be directed towards the hyper-local O2O business, with an objective to shore up footfalls for offline stores by offering deals and discounts on Paytm's app. The users will pay through QR codes in these stores, and thus, increasing the number of transactions for the company. As of now, the m...

MSME Lender Aye Finance raises $10 Million

27Jul By AnkitaNo Comments

FUNDING

MSME Lender Aye Finance raises $10 Million

Digital money lending startup, Aye Finance has raised USD 10 million in debt funding from Triple Jump BV and MicroVest Funds, through the issuance of non-convertible debentures. This is the 10th financing round for Aye Finance in the year 2018, the company informed in a statement. Since January, it has cumulatively raised ₹255 crore of debt. The Gurugram-headquartered company, founded in 2014 claims to have disbursed ₹ 850 crore worth loans and catered to 60,000 micro enterprises since inception. With the recent funds raised, the company is gearing up to bolster its lending portfolio and offer affordable business loans to a larger number of microenterprises in India. MD and founder of Aye Finance, Sanjay Sharma mentioned “At Aye, we use various data science methods which are...

Gaja Capital invests $25M in Educational Initiatives

27Jul By AnkitaNo Comments

FUNDING

Gaja Capital invests $25M in Educational Initiatives

One of the Mid-market private equity firm Gaja Capital has invested $25 million (about ₹172 crore) in Ahmedabad- and Bengaluru-based educational technology company Educational Initiatives, it has marked its eighth investment from its third fund. managing partner of Gaja Capital, Gopal Jain informed about the transaction but did not share further investment details. 2018 has been an active year for The Gaja Capital. The PE firm manages assets of about $500 million across its three investment vehicles, having already recorded two strong exits — TeamLease and RBL Bank — in April and June, respectively. Both investments were made from its second fund — the $180 million Gaja-II. Mr Jian said, “Education is core to our investment strategy and we are long-term believers in the K-12 opportunit...