Friday, March 29

Tag: funding

Avishkaar Box Raises 5 Cr Funding
FUNDING

Avishkaar Box Raises 5 Cr Funding

New Delhi based education startup Avishkaar Box had raised Rs 5 crores in pre-series A funding from Auxano Deals. As per the data, the total equity dilute was around 20% and the deal values Avishkaar Box at around USD 4 million. The company intends to use these funds to strengthen its presence pan-India and for a rapid expansion in Asia. With this investment, founder and CEO, Tarun Bhalla, plans to propel Avishkaar Box to bring about a revolution in Science, Technology, Engineering and Mathematics (STEM) learning, not only in India but also in the Asian and middle-eastern markets, with an expansion. "We have created a platform that inspires children to innovate. This platform has the power to continuously grow along with its user and give him/her super powers to continually innova...
Kris Gopalakrishnan Funded Underwater Robot Startup!
FUNDING

Kris Gopalakrishnan Funded Underwater Robot Startup!

Planys Technologies, a start-up incubated at IIT Madras Incubation Cell, and India’s first Original Equipment Manufacturer (OEM) of compact underwater robots (Remotely Operated Vehicles or ROVs) capable of performing underwater inspection, closed a INR 14 Crores round of Series A Funding. This round of funding was led by Oil and Natural Gas Corporation Limited (ONGC) Start-up Fund and Ranjan Pai’s MEMG Family Office. Kris Gopalakrishnan’s (Co-Founder, Infosys; Chairman, Axilor Ventures) Pratithi Trust, Keiretsu Forum (Chennai and Singapore) and other individuals also participated in the round. This funding round will help Planys expand its robotic fleet, fund product development and scale up its operations. Earlier, Planys also received a grant of Rs. 1.5 crores from BPCL Startup Fund ...
Alibaba Proposes to invest $500 Mn in Dailyhunt
FUNDING

Alibaba Proposes to invest $500 Mn in Dailyhunt

The multinational e-commerce giant Alibaba is planning to buy a minority stake of upto $500 million in Dailyhunt (formerly known as Newshunt), an online news providing platform said two people close to the development reported livemint. According to the duo, Alibaba has already offered a deal closing at $500 million to Dailyhunt but the news aggregator is looking for more investors, other than Alibaba. “The talks are, however, not yet conclusive as Dailyhunt is also looking for other funding options apart from Alibaba,” said one of the person aware of the matter, on the request of staying anonymous. The other person asking for the same quoted, “The deal will be a minority stake sale in which Alibaba is looking to acquire anywhere between 10% to 12%, depending upon the final negotiat...
Doodhwala Secures $2.2 Million Funding
FUNDING

Doodhwala Secures $2.2 Million Funding

Bengaluru, 23rd Feb, 2018: Doodhwala, a micro delivery service for fresh groceries has received a seed funding of $2.2 million by Omnivore, a venture capitalist firm, for a minority stake in the company. The hyperlocal delivery platform, Doodhwala, is a subscription-based, early-morning delivery platform for all farm fresh groceries sourced directly from local farms and dairies. Reihem Roy, Principal, Omnivore will join the board. “Doodhwala with it's unique model has had a tremendous momentum, becoming a well-known brand for fresh milk and grocery delivery in Bengaluru & Pune. We are evolving into the finest delivery service option for customers seeking freshness, convenience and specialty products,” said Aakash Agarwal, Co–Founder, Doodhwala. “Doodhwala’s unique business str...
Grofers Looking to Raise $65 Million Fresh Funding But….
FUNDING

Grofers Looking to Raise $65 Million Fresh Funding But….

Bengaluru- Guragon based online grocery start-up Grofers is looking to raise $65 Million fresh funding from leading investors like Softbank & Tiger global. But the funding round will devalued 40% of Grofers valuation as per the report published by LiveMint. However the early investor in Grofers, Sequoia Capital will not participate in this round. The online grocery platform looking for much needed funding to operate their services. The leading competitor in the space bigbasket has already raised $300 million from Alibaba. Also the big daddy in Indian e-commerce space Flipkart & Amazon aggressively expanding their footprints into the Hyper-local space. As of 2016, the company has raised about Rs. 235.5 million funding from investors including SoftBank and Sequoia Capital. I...
Home Rental Startup CoLive Raises $1.8 Mn From SAR Group And Others
FUNDING

Home Rental Startup CoLive Raises $1.8 Mn From SAR Group And Others

A shared living start-up CoLive has raised Rs 12 Crore ($1.8 million) in a recent round of funding led by Ncubate Capital Partners which is a Venture capital arm of SAR Group. The company has decided to utilise the funds in expanding its services, strengthening the technology infrastructure and enhancing the talent pool according to the reports. It is hoping to increase its operating area to 25 cities and already provides services in 75 properties in Bangalore, with 3000 beds in its inventory. CoLive, which is owned by CoLife Advisory Pvt. Ltd, is a Bangalore based startup that was founded in 2016. It provides branded and well serviced home near to educational institutions and prominent business areas and also supports the idea of shared rental living. The spaces provided by the comp...
Silicon Valley based Bessemer Venture plans to invest upto $50 Million in India in 2018
FUNDING

Silicon Valley based Bessemer Venture plans to invest upto $50 Million in India in 2018

The Silicon Valley based Bessemer Venture Partners who already invests in some of the companies in India, is planning to invest another $40 to $50 million in the country this year. The company that is best known for its investment in companies such as professional social network LinkedIn and restaurant directory player Yelp, is looking for opportunities in the growing healthcare and financial technology. "We are more selective than spray and pray. Investing pace in India is business as usual. In the last 18 months we have backed five new companies." says Vishal Gupta who manages the firm's operation in India. Silicon Valley has previously invested $700 million in 47 portfolio companies over the last decade in India. The venture capital firm is all prepped up energy with Anant V...
Micro-Lender Aye Finance Raises $3.8 Mn From Hinduja Leyland And Others
FUNDING

Micro-Lender Aye Finance Raises $3.8 Mn From Hinduja Leyland And Others

Aye Finance, a Fintech company providing loan to micro, small and medium enterprises has raised $3.8 Mn (INR 25 Cr) from three investors including including Hinduja Leyland Finance and IntelleGrow. The investment took place through a securitisation deal, facilitated by Vivriti Capital. Aye Finance, which was founded by bankers Sanjay Sharma and Vikram Jetley in 2014, have previously secured $6.28 million from IFMR which happened less than a month ago. It also bagged $1.5 Mn (INR 10 Cr) in a similar kind of  securitisation deal in July 2017. Speaking of the current funding and two of the investors Hinduja Leyland Finance and IntelleGrow, Sanjay Sharma, Co-Founder and Managing Director of Aye Finance said, “I believe if India has to rise with a social balance, the micro businesses at ...
Mapping Startup onXmaps Raises $20.3M from Summit Partners
FUNDING

Mapping Startup onXmaps Raises $20.3M from Summit Partners

Missoula, Montana based mapping startup onXmaps has raised a funding of $20.3 million in a Series A round led by global growth equity investor Summit Partners. The round also saw participation from Bessemer Venture Partners, Millennium Technology Value Partners, Next Frontier Capital and NBCUniversal CEO Steve Burke. This funding is one of the biggest round that any startup in Montana has raised. The new development will be used to expand the teams at its Missoula and Bozeman, Montana, offices, to continue building all aspects of its mapping solutions, and to assemble the definitive off-pavement mapping data set. onXmaps allows its users to download offline topographic maps, indicating public and private lands and other details that can help a traveler to locate about its surrounding...
Expense Management Platform Happay Raises Funding From Sequoia And Others
FUNDING

Expense Management Platform Happay Raises Funding From Sequoia And Others

The expense management software for enterprises, Happay has raised Rs 1.60 crore ($250,000) in a fresh round of funding, a report by TechCircle confirms. The IT services company raised a total of $10 million (Rs 65.13 crore) in the round led by existing investor Sequoia Capital. Happay which was found in 2012 in Bangalore, Karnataka raised the same amount at its previous Series B funding in December. The company had raised that round at a post-money valuation of $53-55 million. The funding round observed the involvement of Sequoia Capital, Singapore-based private equity fund Axiom Capital and AME Cloud Ventures, the venture led by Yahoo co-founder Jerry Yang and other investors etc. Previously in 2015, Happay had raised $7.2 million from Sequoia Capital and Prime Venture Partners ...
Zoomcar Raises $40 million Funding From Mahindra & Mahindra
FUNDING

Zoomcar Raises $40 million Funding From Mahindra & Mahindra

The car and bicycle rental company Zoomcar have raised up to Rs 176 crore from Mahindra & Mahindra the Indian multinational car manufacturer. Mahindra & Mahindra (M&M) today said it will invest up to $27.6 million in-car and bicycle rental firm Zoomcar India and Zoomcar Inc, its US incorporated holding parent company. The deal specifies the fact that the investment of such a huge amount of Rs 176 crore when converted to common stock of Zoomcar Inc. ,would constitute approximately 16 per cent stake of the automotive major in Zoomcar Inc. This investment is a part of Series C round of funding worth $40 million (Rs 256 crore) which including the previous investors, the names of which the self-drive car rental startup didn't disclose. The startup ZoomCar was the first in Indi...
E-commerce Conglomerate Infibeam raises $6.2 Million from TV18
FUNDING

E-commerce Conglomerate Infibeam raises $6.2 Million from TV18

Infibeam, an Indian e-commerce and internet conglomerate has raised Rs 40 crore from Mukesh Ambani's supervised TV18 Broadcast Limited. The Ahmedabad based e-commerce giant has signed a stock-exchange disclosure according to which Infibeam will issue fully convertible warrants equivalent to a 0.4% stake in the company upon conversion. Infibeam which was a news maker in the year 2017, had the preferential shares been issued at a conversion price of INR 186.91 per equity share as per the company’s BSE filing on February 14, 2018. The conglomerate had recorded a similar transaction in the past with Bennett&Coleman Company Limited, that invested Rs 60 crore in Infibeam by subscribing to preferential warrants in January 2017. Infibeam was founded by former Amazon executive Vishal M...