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A Digital Lending Startup Raises $18 million from PayU

21Jul By Gauri SinghNo Comments

FUNDING

A Digital Lending Startup Raises $18 million from PayU

Mumbai-based digital lending company PaySense has reportedly raised an amount of $18 million in its Series B funding round. This particular round was led by PayU. The funding round also saw the participation of existing investors including Jungle Ventures and Nexus Venture Partners. PayU had also participated in the Series A round, and this time it invested $11.5 million. PaySense has hit the milestone of Rs 50 crore monthly disbursement rate already, and with these funds, it is targeting to make it double within the next few months. Along with this, the company is also planning to use the amount to hire more people to strengthen its tech and data analytics team. “PaySense is leveraging the IndiaStack platform very well to create additional capabilities beyond those of the tradition...

Online Pharmacy ‘PharmEasy’ Eyeing To Raise About $50 Million

19Jul By Gauri SinghNo Comments

FUNDING

Online Pharmacy ‘PharmEasy’ Eyeing To Raise About $50 Million

Online medicine marketplace, PharmEasy is eyeing to carry forward a $40-50 million funding round led by Fundamentum Advisors (owned by Nandan Nilekani and Sanjeev Aggarwal) and Eight Roads Ventures (the proprietary investment arm of Fidelity International). This particular funding round is expected to close over the next two weeks, and will possibly witness participation of the existing investors as well including Orios Venture Partners, Astarc Ventures, JM Financial and Manipal Education and Medical Group (MEMG). “The company is doing well. It is among the top companies in the ePharmacy space. It has a play in both in retail and wholesale. Their average order value is around Rs 1,000. The company is looking to use the money to fuel its expansion and also to finance cash burn in this c...

19Jul By AnkitaNo Comments

FUNDING

Home Decor Startup Foyr Raises $4.2 Million Series A Funding

Hyderabad based VR platform Foyr raises worth $4.2 million from SRI Capital, JLL partners & others. Foyr registered in Singapore as RBJ International Pte. Ltd used by interior designers, architects, and property developers to design the architect online and see it in 3D mode using Virtual reality. SRI capital invested $2 Mn in this extended series A round, marked its first investment from his recently launched $100 Mn venture fund based in Philadelphia, USA. Foyr will use this funding round to enter the US market, which is expected to be its largest market in two years. Foyr has raised a total $9.7 million funding till date. "We are excited to be backed by SRI Capital which is one of the only VCs who understands the US market as well as Indian development teams. Having a suc...

18Jul By Gauri SinghNo Comments

FUNDING

BookMyShow Raised $100 Million in Series D Funding

BookMyShow, the online entertainment ticket booking platform has raised $100 million (Rs 685 crore) in Series D funding round which was led by TPG Growth, the middle market and growth equity investment platform of alternative asset firm TPG. The latest funding round saw the participation of other existing investors too. Bigtree Entertainment owned company has been looking forward to growing the non-movie business to a great extent and thus, these funds will be used in some of these areas for growth. “BookMyShow is excited to welcome TPG Growth as our newest partner. They bring with them extensive experience across the global media and entertainment sector, which will be instrumental as we look to accelerate our growth plans in this space. The strategic value that all our investors cont...

17Jul By Gauri SinghNo Comments

FUNDING

Unacademy Raises $21 Million in Series C Funding Round

Online learning platform Unacademy has secured $21 million in a series C funding round. This funding round saw the participation of Sequoia India, SAIF Partners, Nexus Venture Partners and other existing investors as well. Followed by this funding round, the valuation of the company crossed $100 million. Apart from the above-mentioned investors, Blume Ventures also participated in this round. Gaurav Munjal, co-founder and CEO of Unacademy, said, “Right from the outset, we have focused on growing the platform by empowering the best educators. We have grown tremendously since our inception, and just last month, more than 3,000 educators were active on the platform and lessons created by them were watched more than 40 million times by learners.” The company plans to utilize the funds so ...

13Jul By NitishNo Comments

FUNDING

Kobster Raises Pre Series A Funding From LetsVenture

Kobster, a tech-enabled sourcing platform facilitating businesses to buy goods online has recently raised their Pre- Series A round led by Incubate Fund. Mr. Murugavel Janakiraman (Founder and CEO of Matrimony.com), Mahesh Parasuraman (Co-Founder & Partner at Amicus Capital Partners), Kishore Ganji (CEO Astir IT Solutions Inc), Splice Capital, Chandigarh Angel Network, ANME (Angel Network Middle East) and investors on LetsVenture also participate in this round. The startup will use this funding to fuel its growth and expand to Tier 2 cities, strengthen category offering, build advanced technology features and penetrate deeper into the customer base. Founded by Karthik Ramaiah, Mohan Gayam & Vineet Neeraj and incubated by PayPal’s prestigious Start Tank Programme, Kobster is...

Online Travel Company Headout Raises $10 Million

13Jul By Gauri SinghNo Comments

FUNDING

Online Travel Company Headout Raises $10 Million

Headout, a last-minute mobile marketplace has reportedly secured an amount of $10 million in a Series A funding round. The particular funding round was led by the existing investors Nexus Venture Partners and Version One Ventures. After this round, the total funding amount of the company has reached $12 million so far. The company is planning to utilize these funds for the purpose of geographical and technical expansion. The aim is to reach 100 cities across North America, Europe, and Asia Pacific by the next 18 months and enhance the technology and business teams, along with bringing in new verticals. "Until this year, Headout was available to users only in English but the company has now launched services in French, German and Spanish in select markets and is on course to have all...

SoftBank’s Kabir Misra Plans to Launch a Startup Fund

12Jul By Gauri SinghNo Comments

News

SoftBank’s Kabir Misra Plans to Launch a Startup Fund

SoftBank’s managing partner Kabir Misra is reportedly in the advanced stages of launching a startup fund worth $200-250 million, which will focus on startups situated out of India, USA and Southeast Asia. According to the anonymous statements, Misra will make early-stage to mid-stage investments in US, India and Southeast Asia. Softbank will be the anchor limited partner in the deal. “While SoftBank is likely to be on the advisory board of the new fund, it will look at sub-$20 million investments to avoid conflicts with the SoftBank Vision Fund,” stated a report. It has also been reported that after the closing of the fund, Kabir Misra will resign from his position in SoftBank, because of some personal reasons. The fund’s motive is to basically give importance to the mid-stage investm...

Nspira Management Raises Around $75 Million Funds

12Jul By Gauri SinghNo Comments

FUNDING

Nspira Management Raises Around $75 Million Funds

Hyderabad-based education service provider Nspira Management announced that the company has secured around $75 million in a funding round led by Morgan Stanley Private Equity Asia. Banyan Tree Growth Capital II also participated in the funding round. As part of the recent transaction, a fund managed by Morgan Stanley Private Equity Asia has invested about $ 67 million of primary capital into the company for a minority stake. “We will be deploying the funds to scale our business geographically, increase our client base, develop cutting-edge education products, modernise our facilities and scale up our digital business,” Puneet Kothapa, MD of Nspira Management said. “We will also opportunistically evaluate inorganic opportunities that are synergistic with our core business and help us...

Bengaluru-based Mitra Biotech Raises $40 million

12Jul By Gauri SinghNo Comments

FUNDING

Bengaluru-based Mitra Biotech Raises $40 million

Mitra Biotech, a Bengaluru-based oncology solutions firm has reportedly secured funds amounting to $40 million (about Rs 270 crore) in a Series-C funding round. The following round was led by Northpond Ventures based in Maryland. The existing investors that participated in the funding round were Accel Partners, Sequoia Capital, Sands Capital Ventures, RA Capital Management and Tata Capital. “Northpond is excited to join Mitra, as the CANscript platform has the potential to meaningfully improve how we treat cancer patients,” said Michael P Rubin, CEO at Northpond Ventures. The funds so raised will be utilized by the company for commercial and trade expansion. A part of funds will also be used for completing the required data generation to get reimbursement coverage for a broad category...

VR Startup SmartVizX Secures Rs 10 Crores Funds

11Jul By Gauri SinghNo Comments

FUNDING

VR Startup SmartVizX Secures Rs 10 Crores Funds

A Noida-based VR (virtual reality) startup SmartVizX has reportedly raised funds amounting to Rs 10 crores ($1.45 million) in a pre-series A funding round. This funding round was led by YourNest Venture Capital and Indian Angel Network‘s IAN fund. The company plans to use the funds so raised in boosting up the product team and also set up extra and additional capabilities to the product. Also, a part of funds will be utilized for international expansion as stated by Tithi Tewari, who is the managing director of the company. Along with this, SmartVizX has also announced the inauguration of Trezi, which the company has claimed to be the first VR-based platform for architecture and interior design collaboration. In this regard, Tithi said, “SmartVizX is the first Indian company to offe...

Mumbai Based Startup Shop101 Raises $5 Million

11Jul By Gauri SinghNo Comments

FUNDING

Mumbai Based Startup Shop101 Raises $5 Million

The social commerce platform ‘Shop101’ has reportedly secured an amount of $5 million. The particular funding round was led by Stellaris Venture Partners and along with this saw the participation of investors like Vy Capital, Raghunandan G (TaxiForSure co-founder), and Ramakant Sharma (Livspace co-founder). The funds raised through the latest round will be utilized in the process of strengthening the company’s core leadership and product team. Also, a part of the funds will be used for boosting up the supplier network and enhance its technology platform. “We are very excited to partner with Abhinav (Jain), Aditya (Gupta) and their exceptional team in their journey to build India’s first social selling platform,” said Chowdhri. Founded in 2015 by Abhinav Jain and Aditya Gupta, the Mumb...