Monday, November 18

FUNDING

Startup Funding News: Get the latest news on startup funding, small business funding, investor management and many more about funding on Pixr8.

PhonePe Receives $60 Million Funding From its Parent Firm
FUNDING

PhonePe Receives $60 Million Funding From its Parent Firm

Flipkart-owned digital payments company PhonePe has received around $60 million from its parent firm in another round of funding, according to regulatory filings. PhonePe Pvt Ltd, Singapore (formerly Flipkart Payments Pvt Ltd) was allotted 10,07,670 shares and the total amount paid was INR 427,25,20,800, according to documents sourced by Paper.vc. The resolution was passed on February 12, it added. The company declined to comment on fund infusion. In July last year, PhonePe had received fund infusion of about $100 million from its parent firm, while another $80 million was pumped into the company in December. The latest fund infusion is expected to provide PhonePe more muscle to compete in the burgeoning payments segment in India. It competes against the likes of Paytm, Google ...
Wipro Consumer Care Ventures invests in LetsShave
FUNDING

Wipro Consumer Care Ventures invests in LetsShave

Wipro Consumer Care Ventures, the venture capital fund of Wipro Consumer Care & Lighting has signed an agreement to invest in LetsShave Private Ltd, which caters to male and female shaving and grooming markets. LetsShave focuses predominantly on the shaving category, and is expanding into personal care categories like body care, skin care and electric trimmers, the city-headquartered Wipro said in a statement. The company markets its portfolio of products under the brand name of LetsShave. It has a strategic tie-up with Dorco, a Korean Company and one of the pioneers in the razor industry, manufacturing blades since 1955.Dorco has a 10 percent stake in LetsShave and is a global supplier to companies like Dollar Shave Club. Managing Partner of Wipro Consumer Venture, Sumit Kesh...
Railyatri Raises $14 Million from Nandan Nilekani, Samsung Venture
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Railyatri Raises $14 Million from Nandan Nilekani, Samsung Venture

Railyatri, now known as IntrCity by RailYatri raises around $14 million (over Rs 100 crore) led by Infosys Chairman Nandan Nilekani. The round saw Samsung Venture Investment coming on board as a strategic investor. Existing investors Omidyar Network and Blume Ventures also participated, a statement said. Nilekani is also an existing investor in the company. The intercity mobility startup has so far raised a total of USD30 million (about Rs 215 crore). We have grown over 500 per cent in the last year with the entire growth costs being met from our internal revenue generation, and we are projecting 300 per cent growth over the next three consecutive years," IntrCity by RailYatriCo-founder KapilRaizada said. The latest investments will help us further expand our IntrCity Smart...
Swiggy Raises USD 113 mn in Funding led by Prosus NV
FUNDING

Swiggy Raises USD 113 mn in Funding led by Prosus NV

Food ordering and delivery platform Swiggy has raised USD 113 million (over Rs 805 crore) in the latest funding round led by existing investor Prosus NV. Meituan Dianping and Wellington Management Company also participated in the funding round. Having grown beyond food delivery, the company aims to use the funds to further develop its new lines of business, addressing visible gaps in the market, Swiggy said in a statement. The company will continue to invest in new growth areas (Stores, Go and SuprDaily) as it delivers on its promise of bringing unparalleled convenience to the lives of urban consumers, it added. 'We have become synonymous with exceptional customer experience and created multiple growth avenues for our partners while continuing to invest in new lines of business...
Unacademy Raises USD 110 mn Led by Facebook & Others
FUNDING

Unacademy Raises USD 110 mn Led by Facebook & Others

Online education platform Unacademy raises USD 110 million (about Rs 780 crore) in a funding round led by social media major Facebook and General Atlantic. The funding round saw investment from fresh investors including Sequoia India, Nexus Venture Partners, Steadview Capital and Blume Ventures, Flipkart CEO Kalyan Krishnamurthy and Udaan co-founder Sujeet Kumar, according to a company statement. 'We are seeing great learning outcomes through our subscription where learners can take live classes by these educators. We now have more than 90,000 active subscribers. We thank General Atlantic and Facebook who have joined us in this journey and our existing investors who continue to be a part of the journey by supporting us,' Unacademy co-founder Gaurav Munjal said. In addition to rais...
Zvesta Raises USD 5.5 MN in Funding from Hindustan Media Ventures
FUNDING

Zvesta Raises USD 5.5 MN in Funding from Hindustan Media Ventures

New Delhi, 20th February 2020: Zvesta, Proptech Company based in Gurugram has raised USD 5.5 million from Hindustan Media Ventures Limited.  The company shall utilize the raised capital to build its brand & collaborative marketing for real Estate Aggregation across the country. Its primary focus is on building alliances and partnerships across India strengthening through its technology product.   Zvesta founders adorn the different cultures and professional backgrounds feel an instant connect with the Real Estate Community, given their shared sense of understanding and experience for maturing Zvesta to the next level in business. The company founders Rajan Dang, a multi-domain industry Leader in Banking, FMCG, Ecommerce & Real estate, and Anushree Srivastava, in past was Joint G...
MaxWholesale raises USD 3 mn from IAN Fund, Abu Dhabi’s Al Falaj Investments
FUNDING

MaxWholesale raises USD 3 mn from IAN Fund, Abu Dhabi’s Al Falaj Investments

MaxWholesale, a B2B e-commerce platform for kirana stores has raised USD 3 million (about Rs 21.4 crore) in funding led by IAN Fund-I and Abu Dhabi-based Al Falaj Investment Company (AFI). The Series-A round also saw participation from existing investor Maple Capital, along with Infoedge's ex-CFO Ambarish Raghuvanshi, Maple Capital's Abhinav Grover and Biba Group's Siddharth Bindra, among others, a statement said. Raman Roy and Abdelghani have joined MaxWholesale's board as directors, it added. "With the investment, MaxWholesale will hire talent to develop its technology further and accelerate growth... MaxWholesale is also looking to expand its reach to Kirana stores in the coming months," it said. The platform currently services 10,000 kirana stores in Delhi. The company mana...
Vedantu Raises $24 Million Led by GGV Capital
FUNDING

Vedantu Raises $24 Million Led by GGV Capital

Education technology start-up Vedantu has raised Rs 171 crore (USD 24 million) in a round led by global venture capital firm GGV Capital with participation from existing investors. This was in addition to the Rs 299 crore raised by the firm in August 2019. "We are excited to have GGV Capital back us, as a unique VC firm that has backed some of the world's most successful companies, this is a huge validation for Vedantu. We want to further our mission to make this new format of live interactive classes the answer to the current engagement gaps in online education and are very excited about the future," Vedantu CEO and co-founder Vamsi Krishna said in a statement. With this round, the total fundraised by the company stands at around Rs 600 crore. Krishna said that the company see...
Clover raises $5.5 mn from investors including Omnivore
FUNDING

Clover raises $5.5 mn from investors including Omnivore

Agritech platform Clover has raised over $5.5 million (around Rs 39 crore) from investors including Omnivore. The company said in a statement that it has raised this amount in Series A funding from Omnivore alongside existing investors Accel and Mayfield. Clover is a greenhouse agritech platform, which partners with farmers across India and markets premium quality, branded, greenhouse-grown fresh produce through B2B and B2C channels. Accel and Mayfield had invested in Clover's seed round back in December 2018. Based in Bengaluru, Clover was co-founded by Avinash BR, Gururaj Rao, Arvind Murali, and Santhosh Narasipura. Avinash, co-Founder of Clover, said, "This additional funding will help to accelerate the growth of our managed farm network, support our entry into new cities...
MoEngage Raises USD 25 Million in Series C Investment Round
FUNDING

MoEngage Raises USD 25 Million in Series C Investment Round

Customer analytics and cross- channel engagement platform MoEngage has raised USD 25 Million in Series C funding. Eight Roads Ventures led the round with participation from its US-based sister fund, F-Prime Capital, along with Matrix Partners India and Ventureast. MoEngage recently achieved Amazon Web Services Retail Competency. The new round of funding will be used to deepen relationships in Asia, integrate advanced capabilities into the product mix and scale operations in the USA and Europe, MoEngage's two fastest-growing markets. "The latest round of funding will help us reach more brands and empower them with the next-generation customer engagement platform built for the mobile-first world that is easier to use, fully integrated and intelligent", said Raviteja Dodda, Found...
Recruitment platform WorkIndia raises $7 million from Xiaomi
FUNDING

Recruitment platform WorkIndia raises $7 million from Xiaomi

Blue-collar recruitment platform WorkIndia has raised $7 million (Rs 42 crore) from Chinese tech major Xiaomi. Previous investors of WorkIndia who have done multiple investment rounds in the company include Beenext Pte ltd and a Japanese hedge fund Asuka Investments among others, the company said. In less than five years, the company has moved from being a technology startup to an unprecedented 2.1 crore unique app sessions per month, 1.5 crores registered job seekers and presence in 763 cities across India, it added. "The cutting edge technology developed by WorkIndia, utilising geo-positioning and dynamic algorithms, is one of the best in class that we have seen. The company has created a massive dent in the Indian blue-collar segment within a short span of time. It is inspir...
BYJU’S Raises $200 Mn from Investor General Atlantic
FUNDING

BYJU’S Raises $200 Mn from Investor General Atlantic

Edu-tech major BYJU'S has raised an undisclosed amount of funding from General Atlantic, an existing investor in the company. While BYJU'S did not disclose the quantum of investment, sources said General Atlantic has pumped in $200 million (about Rs 1,420 crore) into the company. The investment is part of an ongoing funding that had seen Tiger Global invest a similar amount into the edu-tech company. The sources added that BYJU'S has raised over $1.3 billion and the current round values it at about $8.2 billion. "General Atlantic has been one of our strongest partners and this additional investment shows their confidence in our vision, growth and future. We are happy to see an ever increasing acceptance for our learning programs in small towns across the country," BYJU'S founder a...