FUNDING | Pixr8 News

14Oct By AdityaNo Comments

FUNDING

Ratan Tata to Invest in Tork Motors

Electric vehicle startup Tork Motors said Ratan Tata has decided to invest an undisclosed amount in the company. Previously, the Pune-based company has raised funds from Bharat Forge and Bhavish Aggarwal (Founder of Ola cabs). "In the last few years, there has been a sea of changes in the attitude towards electric vehicles. This industry is changing rapidly and I place good value on the sound logic and the approach that the team at Tork Motors has taken," Tata Sons Chairman Emeritus Ratan Tata said in a statement. Tork Motors is gearing up to launch its flagship electric motorcycle in the next few months. "An investment by him is an endorsement of the long-held belief by us that the Indian auto sector is going through a phase of huge growth and transformation," Tork Motors Foun...

14Oct By AdityaNo Comments

FUNDING

Bewakoof.com raises $11.2 mn funding from Investcorp

Global alternative asset manager Investcorp invested USD 11.2 million (about Rs 79.5 crore) investment in Bewakoof.com. Founded in 2011 by Prabhkiran Singh and Siddharth Munot, Bewakoof.com is a direct-to-consumer online apparel company. IndigoEdge was the advisor to Bewakoof.com for the deal, a statement said. Bewakoof.com has strengthened its sales to more than 650,000 products per month with a customer base of over 4 million. "Having grown significantly in the last couple of years, we will continue investing in improving the customer experience through technological innovation and focusing on talent acquisition," Bewakoof Brands co-founder and Director Prabhkiran Singh said. Gaurav Sharma, Co-Head of Private Equity, Investcorp India, said, Bewakoof.com has an impressive team...

12Oct By PriyankaNo Comments

FUNDING

Mobile Control Door Access Startup Nexkey Raises $6M Series A Funding

SAN MATEO, Calif., Oct. 12, 2019 -- Nexkey, an end-to-end provider of mobile access control solutions raises a $6 million Series A round led by Upfront Ventures. Manu Kumar's K9 Ventures, Mark IV Capital and Anand Chandrasekaran, former Head of Platform for Messenger at Facebook also participated in the round. Nexkey's secure, cloud-connected app turns any smartphone into a digital key, allowing businesses to do away with cumbersome keycards, fobs, and metal keys. Administrators can use the Nexkey app to send smart keys, manage when and how users can access a given space, and remotely unlock doors for guests. Nexkey also offers two unique hardware solutions that can turn any existing doorway into a fully functional smart door. The Nexkey Controller ties any electrified door, from...

10Oct By PriyankaNo Comments

FUNDING

Grammarly Raises $90M in funding, Valuation Soars over $1 billion

SAN FRANCISCO, Oct. 10, 2019-- Grammarly, the AI-powered digital writing assistant used by more than 20 million people daily raises $90 million in its latest round of funding. Existing investors General Catalyst, IVP led the round with participation from new investors. With this investment, Grammarly will continue to advance its cutting-edge technology to build a full-fledged communication assistant for individuals and businesses. "Communication is a fundamental human need that helps us all connect and thrive," said Brad Hoover, Grammarly CEO. "But effective communication requires talent and time, and it can be very challenging. Grammarly's AI fills this gap by empowering people worldwide both native and non-native English writers, for personal, professional, and academic reason...

Bollywood Singer Sukhbir Singh Make its fifth Investment, Invest in a Coworking Startup

10Oct By AdityaNo Comments

FUNDING

Bollywood Singer Sukhbir Singh Make its fifth Investment, Invest in a Coworking Startup

Famous Bollywood singer Sukhbir invested an undisclosed amount in Noida-based co-working and co-play startup Nukleus. As part of the deal, Sukhbir Singh will join the advisory board of the startup as an active member. Founded in 2018, Nukleus said it has rapidly emerged as one of the biggest coworking companies in Delhi-NCR region. With the focus to cover major Tier I and II cities, Nukleus is aiming to open 10+ coworking centres across the country. Founder and CEO of Nukleus Nipun Gupta expressed his deep interest in adding more value to the Indian office ecosystem, through collaborations and expansions in the coming years. Sukhbir and Nipun are excited to share a similar vision of making a difference in the way people spend time at the workpla...

8Oct By NitishNo Comments

FUNDING

OYO to Raise $1.5 bn Funding; for Expansion in US

Indian online hotel booking startup OYO Hotels and Homes set to raise $1.5 billion (nearly Rs 10,650 crore), from its founder, Softbank and other investors. The funding will use to expand for expansion in the US and strengthening its vacation rentals business in Europe. Softbank, has invested nearly $1 billion in OYO, through its Vision Fund and owns roughly 45 percent stake in it. The latest round of funding will be a part of Series-F funding round. OYO Hotels and Homes Founder and CEO Ritesh Agarwal, through RA Hospitality Holdings, will infuse approximately $700 million as primary capital in the company. The balance $800 million will be supplemented by other existing investors, according to the company statement. A significant part of the funds will be diverted towards co...

5Oct By NitishNo Comments

FUNDING

Bird Raises $275 Million Series D Funding from CDPQ and Sequoia Capital

SANTA MONICA, Calif., Oct. 5, 2019-- Bird, the leader in micro-mobility, today announced its Series D funding round. CDPQ and Sequoia Capital led the $275 million round as a result of Bird's shift from rapid and expensive growth to creating industry leading positive unit economics and building a sustainable business. The capital will help Bird continue on its path to profitability and ongoing vehicle research and development. Bird's custom designed and engineered vehicles play a pivotal role in its unit economics. Less than a year after announcing Bird Zero, which has a lifespan of over 12 months, the company unveiled Bird One, a next generation e-scooter built for the shared micro-mobility market. Shortly following Bird One came Bird Two, which is available in Los Angeles,...

5Oct By NitishNo Comments

FUNDING

Info Edge Invests in Greytip Software

New Delhi based Info Edge has invested about Rs 35 crore in Greytip Software, a provider of HR and payroll software solutions. Info Edge (India) has agreed to acquire 404,696 compulsorily convertible preference shares and 29,948 ordinary shares via mix of primary infusion and secondary purchase, a regulatory filing said. The aggregate shareholding of the company, post this investment, in the said entity would be 20.25 per cent on fully converted and diluted basis, it added. Greytip Software was set up in 1994 and started focusing on software as a service (SaaS) in 2011. It has over 9,000 customers spread over 150 cities in India and the Middle East. Its turnover stood at Rs 28.31 crore in 2018-19. "We strongly believe that this fund raise is pivotal in accelerating...

Paytm First Games raises USD 20 million From Parent Firms

3Oct By AnkitaNo Comments

FUNDING

Paytm First Games raises USD 20 million From Parent Firms

Paytm First Games on Wednesday said that it has raised USD 20 million (about Rs 140 crore) from parent firms, AGTech and One97 Communications, for further expansion. The funds will support the company's ambition to scale its operations, invest in technology and further expand its user base through various marketing activities, a company statement said. "In the last six months, we have launched several games across different genres and the response has been encouraging. We now have more than 35 million registered users playing their favourite games, including the paid ones like Rummy and Fantasy Cricket. "This fund-raise will support our ambition to become India's largest gaming platform which in turn makes gaming a rewarding experience for our users," Paytm First Games COO S...

3Oct By PriyankaNo Comments

FUNDING

NoBroker Raises $50 Million Funding from Tiger Global & Others

India based real estate and renting platform NoBroker raises $50 Million from Tiger Global & others. The round saw the participation of existing backer, private equity firm General Atlantic. The startup raised its previous round of capital in June. The total capital raised by NoBroker to $121 million. The deal will double the valuation of the company to about $300-350 million. NoBroker will use the funding to expand across the 20 Indian cities in the next two years. At present the company operates in six cities. Founded in 2014 by IIT and IIM graduates Amit Agarwal, Akhil Gupta & Saurabh Garg, NoBroker is a real estate search portal that connects flat owners and tenants directly with each other. “We are using machine learning and artificial intelligence to make trans...

Twitter Co-founder Invest in an Indian Startup

2Oct By PriyankaNo Comments

FUNDING

Twitter Co-founder Invest in an Indian Startup

In a first major initiative in Kerala, microblogging and social networking platform Twitter’s co-founder Biz Stone said he would invest in a startup mentored by Kerala Startup Mission (KSUM). Announcing this through video conference of a global meet near here, the Twitter’s co-founder and angel investor Biz Stone said he would be investing in the Kochi-based startup Sieve. The occasion was the inaugural ceremony of the second edition of 'Huddle Kerala 2019', one of Asia’s largest congregations on startup ecosystem. The two-day event, organized by the Kerala Startup Mission (KSUM) in association with Internet and Mobile association of India (IAMAI), is being held at nearby Kovalam. Founded by Sanjay Nediyara, a hearing-impaired entrepreneur, Sieve is a complete platform for free...

Happily Unmarried Raises $843k from Info Edge

1Oct By PriyankaNo Comments

FUNDING

Happily Unmarried Raises $843k from Info Edge

India based Info Edge Ltd invested $843k (Rs 6 crore) in Happily Unmarried Marketing through its wholly-owned subsidiary. Info Edge has agreed to acquire 1,244 optionally convertible cumulative redeemable preference shares and the cost of acquisition is about Rs 6 crore, Info Edge said in a regulatory filing. The aggregate shareholding of the company in Happily Unmarried, post previous fund raise exercise from other investors and completion of current fund raise exercise by Happily Unmarried, would be 42.33 per cent on fully converted diluted basis. Happily Unmarried has diversified into men's grooming through its brand 'Ustraa' that is now driving the growth of the business. The investment would help in consolidating Info Edge's position into the said line of business within...