Fundraising gives the much-needed support to the startups that they wish for the purpose of growing. Any startup which is established in order to serve its business objective needs fundraising. Fundraising is important for the startups along with the funding procedure. When these two business components come together, they have a rich potential to contribute to the growth of a startup.
This week, we witnessed a good amount of funding activities of various known companies and also various investors that led to these funding rounds. Businesses need finance for a variety of different purposes and these companies also raised funds for various needs.
The largest amount of funds were raised by robotics company called GreyOrange. The company raised $140 million in its Series C funding round. Let us now know more about the funding activities that took place this week.
1) GREYORANGE
A Singapore-headquartered robotics company GreyOrange has secured funds amounting to $140 million in a Series-C funding round. This round was led by Mithril Capital.
The other backers that participated in the funding round were Mitsubishi, Flipkart, Project Verte and Blume Ventures. The leading backer Mithril Capital is a venture firm co-founded by Ajay Royan and early Facebook investor Peter Thiel, with the valuation estimated to be between $400 million and $500 million.
The company is planning to deploy these funds to expand its supply chain and manufacturing capacity and double down on R&D.
2) NETMEDS
India based online pharmacy platform Netmeds.com secures $35 million in Series C Funding from Daun Penh’s investment holding and existing investors.
The funding amount will use to increase awareness through marketing efforts as well as to enhance the customer experience. He iterated that the company fully expects, and are prepared to welcome millions of Indians as members of the Netmeds family.
Pradeep Dadha, CEO and Founder Netmeds.com stated that the money would be used to ensure that the company “stayed the course” with regard to the extraordinary double-digit month-on-month growth it has enjoyed since inception.
3) WUNDER MOBILITY
German mobility startup Wunder Mobility that offers a range a mobility services has secured $30 million in Series B funding. The particular round was led by KCK Group.
The existing backers that participated in the round included Blumberg Capital and other non-disclosed investors.
The company is planning to use these funds in the expansion of the company’s engineering team in its home country and to establish an international B2B sales organisation. The main motive is to bring in another 100 employees over the next one year in the areas of product development and B2B sales.
4) SYNAPSEFI
A US based startup called SynapseFI that helps banks and fintech companies work together to develop technology has raised funds amounting to $17 million in Series A funding round. The round was led by Trinity Ventures and Core Innovation Capital.
Other unnamed backers also participated in the particular round. However, it has been reported that the deal closed at the back end of last year. But the company was so busy developing new products, hiring and more that the company could not disclose about it then.
5) BEAR FLAG ROBOTICS
Bear Flag Robotics today announced a $3.5 million seed funding round led by True Ventures. The Silicon Valley-based agtech company Bear Flag Robotics is developing autonomous driving and implements control technology for agricultural tractors, freeing growers from hours of monotonous driving and the high cost of labor to fill tractor seats.
Bear Flag will provide leasing options to growers who wish to operate their own fleet of autonomous equipment. Additionally, they will offer both full-service and hybrid models, where operations are supervised by a central location. Operations will begin by the end of 2018.