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Ninjacart Raised 20 Crores From Accel Partners To Fight For Farmers

7Mar By AdityaNo Comments

FUNDING

Ninjacart Raised 20 Crores From Accel Partners To Fight For Farmers

BENGALURU: Ninjacart a Bengaluru-based online platform has raised Rs 20 crore in a funding round led by Accel Partners. The Funding round also saw participation from Qualcomm Ventures, Singapore-based M&S Partners and ZopSmart, the parent of online grocer ZopNow.that connects farmers and brands to retailers, has raised Rs 20 crore in a funding round led by Accel Partners. Ninjacart platform connects farmers and brands to retailers, which helps supermarkets and kirana stores to source fresh fruits and vegetables from farmers and brands. Ninjacart will use funding to hire talent, invest in supply chain infrastructure and technology. Thirukumaran Nagarajan, chief executive officer at Ninjacart said "Due to marginal farming, poor logistics and zero market information, a number of m...

5Mar By RishabhNo Comments

FUNDING

Snapchat Raises $175 Million Funding from Fidelity at Flat Valuation

Snapchat Inc. which makes a free app called Snapchat for sharing quick disappearing images and videos has recently raised a funding of $175 M from Fidelity at a $16 billion valuation, according to the Wall Street Journal. The catch is that Snapchat’s last round of funding in May 2015 reportedly valued the company at $16 billion, a 60% bump from its previous round in December 2014. Fidelity bought shares at $30.72 in February after paying that price last March. In the fourth quarter, a separate valuation committee at the mutual fund brought down the shares to $25.75. (more…)

4Mar By RishabhNo Comments

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Social Discovery App Raises $5 Million Angel Funding From HNI

Shouut, a social discovery and sharing app, offered by Giant Tech Labs Pvt. Ltd. has raised $5 Million in angel funding from an undisclosed High Net-Worth Individual angel investor, based in India. Founded by Praveer Kochhar, Shouut is an app that enables its users to discover and share amazing places or experiences in their instant vicinity, the platform also enables amplification of business deals to users around their business location. The Shouut app after undergoing around 10 months of development phase, was finally launched in February 2016 at Google’s Play Store. (more…)

2Mar By RishabhNo Comments

FUNDING

Plastic Recycling Startup raises $8 Million Funding from Artha Capital

Hyderabad: Banyan Nation, a plastic based waste management and recycling company has recently raised a funding of $800,000 (Rs. 5.3 crores). Banyan is a startup that offers FREE On-Demand and Recurring recyclable waste pickup services to townships, apartments, small and medium businesses, large corporations and independent homes. (more…)

2Mar By AdityaNo Comments

FUNDING

Life For One More Year “Jabong” Raises $20 million Fresh Funding

Jabong, India's one of the leading Fashion ecommerce company has raised additional funds by Global Fashion Group (GFG), so that it can stay afloat for one more year. "The board has agreed to put more than $20 million in Jabong," a person who participated in the meeting held in Luxembourg told ET.GFG was founded in 2011 by Swedish Investment AB Kinnevik and German Rocket Internet SE, and operates ecommerce ventures Dafiti in Latin America, Lamoda in Russia and the CIS, Namshi in the Middle East, Zalora in Southeast Asia and Australia while operating Jabong in India. However, Oliver Samwer, CEO of Rocket Internet and deputy chairman at GFG, was not in favour of continuing in India venture, it was Kinnevik that insisted on staying put, leading to which the board eventually agreed to b...

Facebook Co-Founder Eduardo Saverin invested in Mumbai Based Startup

29Feb By RishabhNo Comments

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Facebook Co-Founder Eduardo Saverin invested in Mumbai Based Startup

Eduardo Saverin, co-founder of Facebook has invested $13 million (around Rs. 90 crore) in Hopscotch, a Mumbai-based online retailer in a Series C round. Hopscotch is an E-commerce service, focusing on Kids Fashion Wear. Hopscotch is the same company that secured $11 Million funding last year in a Series B round led by Saverin's Velos Partners. It is the first Indian Company in which Saverin has invested so far. (more…)

Unitus Seed Fund Invests in DriveU, India’s First On-Demand Private Driver Service

29Feb By AnkitaNo Comments

FUNDING

Unitus Seed Fund Invests in DriveU, India’s First On-Demand Private Driver Service

29th February, 2016. Bangalore, India: Unitus Seed Fund, India’s most active seed fund supporting startups innovating for the masses, announced its investment in DriveU, a firm that aggregates on-demand drivers for private car owners in India. If Uber and Ola have changed the way people travel in urban India, there has been another creeping gap – that of utilization of privately owned vehicles in the country that has largely remained unaddressed. According to recent reports, there are more than 15 lakhs (1.5 million) private cars in Bengaluru, and 30% of the car owners are seeking drivers. And that’s just in Bangalore! DriveU, founded in 2015 by Ramprasad “Rahm” Shastry, Ashok Shastry and Amulmeet Singh, intends to revolutionize the self-driving habit in the country by addressing the...

Ratan Tata Invests in Home Rental Startup NestAway

28Feb By AnkitaNo Comments

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Ratan Tata Invests in Home Rental Startup NestAway

Top industrialist Ratan Tata has invested an undisclosed amount in home rental company NestAway Technologies, a statement said. This is Tata's eighth personal investment in a startup in 2016 so far. He has invested in over 20 startups. NestAway turns unbranded, unfurnished houses into fully furnished and managed apartments and provides them at affordable prices to verified tenants, said the statement by IDG Ventures India, which is an investor in the company. So far, the startup has provided quality rental homes to about 5,000 tenants across six cities. Until recently, NestAway counted working professionals who are single among its target audience, but now it has also forayed into the family segment. NestAway was founded by Amarendra Sahu, Smruti Parida, Deepak Dhar and Jite...

Naspers Invests $250 Million In ibibo For Extended Leadership

25Feb By AdityaNo Comments

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Naspers Invests $250 Million In ibibo For Extended Leadership

Indian online travel venture Ibibo Group today announced that Naspers will invest USD 250m in the group, which will focus extending ibibo's leadership position in the Indian hotels category and on additional technology innovations. Ibibo processed more than 6.5m transactions for the period October to December (Q3) 2015. It is the largest online travel company in India, generating more than 2.5x the transaction volumes of its nearest competitor. The group owns integrated online travel properties such as Goibibo.com (India's No 1 hotels booking engine and also a leading air ticketing aggregator), and redBus.in (No 1 online bus ticketing platform). In a recent research report by Morgan Stanley, Goibibo was rated number one by hoteliers across a number of parameters, including booking...

With 10,000 Orders Per day, TaskBob Raised $4 million From Ivy Cap Ventures

22Feb By AdityaNo Comments

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With 10,000 Orders Per day, TaskBob Raised $4 million From Ivy Cap Ventures

February 22, 2016: TaskBob, a Mumbai-based Home services provider startup has raised Rs28 crore ($4 million) from Ivy Cap Ventures and existing investors Orios and Mayfield, according to a report in The Economic Times. Taskbob will use this fund to expand into other cities and boost growth. This is the first investment in the home services space by IvyCap Ventures’. “What we have done in Mumbai is to understand the backend and creating a playbook. The idea is to replicate this playbook across top four-five cities in one and a half years and reach 10,000 orders per day,” said Aseem Khare, CEO of Taskbob. “In Mumbai we want to be profitable at the unit level in the next one and a half years,” he added. Taskbob, which provides pre-screened service persons across a range of home se...

22Feb By AnkitaNo Comments

FUNDING

Selfi Discovery App for Hyperlocal Magicpin Raises $3 million Series A Funding

Magicpin, a hyperlocal discovery app, founded by Investor-turned-entrepreneurs Brij Bhushan and Anshoo Sharma have raised $3 million in Series A round of funding from Lightspeed Venture Partners. The app offers Instagram-like features where users can take pictures and selfies to avail of offers and discounts at neighbourhood stores. “While looking at the market from an investing lens, it was quite clear that India is entering a phase where everyone would be connected through their smartphones. A trip to China in late 2014 was an eye opener for the kind of businesses and value such an environment would create. There is an opportunity window today in India for creating a massively valuable business that leverages data, technology and people networks around offline transactions, and w...

Google Acquired Singapore Startup Pie, Looking to Build Engineering Team

20Feb By AnkitaNo Comments

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Google Acquired Singapore Startup Pie, Looking to Build Engineering Team

Google has acquired Singapore-based startup Pie.co, a slack like chat platform. The move behind this acquisition is to bring good engineers from Asia-pacific into Google. In its blog Google said, According to the UN, 300 million people came online for the first time last year. Put another way, in 2015, there were more people using the Internet for the first time than there were Americans using the Internet already. But the computing experience for most of these first-timers, coming online in places like India, Indonesia and the Philippines, is very different from the one many of us grew up with – and not the one that most of Google’s services were originally designed for. Their main (and in most cases, only) “computer” is a low-cost smartphone. Connectivity is expensive in relatio...