FUNDING | Pixr8 News

China based G7 Raises $320 million from HOPU Investments

11Dec By Gauri SinghNo Comments

FUNDING

China based G7 Raises $320 million from HOPU Investments

Beijing-based fleet management company G7 has raised funds amounting to $320 million in a financing round. This round was led by HOPU Investments, one of the mosthigh-profile private equity firms in China. With this funding,the total capital raised by the company has reached to around $500 million.Other participants included new investors ChinaBroadband Capital, Intelligent Fund of Funds, Mount Morning Capital, Total Energy Ventures and TH Capital, who are joined by existing investorsGLP, Bank of China Investment and Tencent. The basic purposeof this funding round is to drive technological development. The companyruns a proprietary connected platform for trucks, shippers, fleet manager anddrivers. G7 claims that its latest funding round marks the ...

9Dec By AnkitaNo Comments

FUNDING

With over 2 Million Subscribers, Japan’s AI based App raises $26.43 Million Series E Funding

Sansan, Inc., the parent company of the Eight app, Japan's leading business card organizer and professional social networking platform has raised approx. Rs. 186 crores (USD 26.43 million) in Series-E funding, taking funding to date to approx. Rs. 7,050 crores (USD 100 million). Sansan's Series E investment was led by Japan Post Capital, T. Rowe Price, SBI Investment, and DCM Ventures. The additional funding will help Sansan deliver on its new mission: "Turning encounters into innovation." The company aims to accelerate its development of innovative technologies centered around maximizing the utility of business cards. Eight is Japan's largest professional social networking platform. The app has well over 2 million registered users. The Eight app uses Artificial Intelligence (AI) ...

Brazil-based QuintoAndar Secures $64 million Funds

3Dec By Gauri SinghNo Comments

FUNDING

Brazil-based QuintoAndar Secures $64 million Funds

São Paulo-based rental marketplace called QuintoAndar raised an amount of $64 million (R$ 250 million) in a fresh funding round. The particular funding round was led by General Atlantic to accelerate expansion in Brazil. The other backers that participated in the round were Kaszek Ventures, Qualcomm Ventures and QED. The site provides the listings, allows users to schedule tenant visits to the property (the founder says more than 86,000 property showings were booked in October), and processes the transactions. The company believes there’s a big opportunity to make renting in Brazil more efficient. “20% of the population in Brazil lives in rented properties, and the sentiment toward buying homes in Brazil is changing,” says Braga. Brazil remains undercapitalized relative to othe...

1Dec By Gauri SinghNo Comments

FUNDING

Top Five Funding of the Week (26th Nov – 1st Dec)

Funding is a very important part of business and without funding, it is quite difficult for startups to grow. Funding provides the base to startups. This week, we saw various funding activities, out of which the maximum funds were raised by an insurance company. The maximum funds raised were $200 million. Let us now have a full view of the important and the top five funding activities of the week. 1) Bright Health Minneapolis-headquartered insurance startup Bright Health has raised funds amounting to $200 million in Series C funding round. The round was led by Tom Valdivia, a former Definity Health executive. The valuation of the company, following the round has reached at $950 million. New investors Declaration Partners and Meritech Capital participated in ...

1Dec By Gauri SinghNo Comments

FUNDING

On-demand Home Services Firm UrbanClap Raises $50 Million

India’s on demand home services marketplace UrbanClap has secured funds amounting to $50 million in a fresh funding round. This round was led by Hong Kong-based hedge fund Steadview Capital along with existing investor Vy Capital. With this round, the valuation of the company will more than double to $480 million. UrbanClap which also counts Accel, SAIF Partners, Bessemer Venture Partners and Ratan Tata amongst its investors, was last valued at $200 million when it raised capital in 2017. The funds so raised will be used by the company to accelerate the onboarding of both customer and service partners, build stronger teams across product and technology, build training capabilities as also enhance its supply chain of consumables. “The core of our business which is beauty, cleaning an...

Insurance Startup Bright Health Secures $200 million in Series C Round

30Nov By Gauri SinghNo Comments

FUNDING

Insurance Startup Bright Health Secures $200 million in Series C Round

Minneapolis-headquartered insurance startup Bright Health has raised funds amounting to $200 million in Series C funding round. The round was led by Tom Valdivia, a former Definity Health executive. The valuation of the company, following the round has reached at $950 million. New investors Declaration Partners and Meritech Capital participated in the round, with backing from Bessemer Venture Partners, Greycroft, NEA, Redpoint Ventures and others. The company is planning to utilize these funds to rapidly expand into new markets, planning to triple its geographic footprint in 2019. “Bright Health has continued to execute at a fast pace towards our goal of disrupting the old health care model that places insurers at odds with providers,” Sheehy said in a statement. “[Its] current high...

Bengaluru-based Startup Doodhwala Secures $12 million

28Nov By Gauri SinghNo Comments

FUNDING

Bengaluru-based Startup Doodhwala Secures $12 million

Bengaluru-based milk and daily essentials delivery startup called Doodhwala is reportedly securing funds up to $12 million (around Rs 85 crore) in a Series A round of funding. The round is being led by Impact investment firm Omnivore Ventures. Along with this, the company had approached both new and existing investors for the fresh fundraise. “We will be closing the round in January next year as the term sheets are getting finalised and the talks are at a fairly advanced stage,” Doodhwala co-founder Ebrahim Akbari said. “We are looking at a post-money valuation of $40 million.” Also, he stated that American, Chinese and Japanese investors were in the fray. US investors are keen on subscription businesses as they are creating a mark of their own and showing potential growth. With th...

HealthTech Firm Niramai Secures $6-7 million from Exisiting Backers

27Nov By Gauri SinghNo Comments

FUNDING

HealthTech Firm Niramai Secures $6-7 million from Exisiting Backers

Healthtech startup Niramai has secured funds around $6-7 million in a funding round. The round was led by existing investors Pi Ventures, Axilor, Ankur Capital and Flipkart cofounder Binny Bansal. Niramai Health Analytix is building an artificial intelligence (AI)-based tool for a non-invasive, non-touch, non-radiation approach to detect breast cancer. The technology, called Thermalytix, helps remove the technological, logistical and cost barriers for breast cancer screening among women. Niramai was founded in 2016 by Geetha Manjunath, who has 25 years of experience in areas such as data analytics, machine-learning and cloud computing, and Nidhi Mathur, with experience in business planning, strategy and product management. Both the cofounders had previously worked with Xerox Research...

26Nov By Gauri SinghNo Comments

FUNDING

SaaS Startup Verloop Raises $3 Million in Series A Funding

SaaS customer engagement automation provider Verloop has raised $3 million in Series A funding round led by IDFC Parampara Fund. The other investors who participated in the round include Kris Gopalakrishnan - Infosys Co-founder and Dr Ranjan Pai - Chairman of the Manipal Education and Medical Group (MEMG). The Y-Combinator startup said that the fresh funds will be utilized to enhance the Verloop customer engagement platform as the company expands its team and scale operations. The startup’s customer portfolio includes Nykaa, Qtrove, Pipa Bella, Portea, Apollo Munich Health Insurance and Aadhaar Bridge. Further, it has also been used in Indian entertainment including Rajinikanth for his movie Kaala, other mainstream and niche celebrities, publication houses and entertainment magazines...

26Nov By Gauri SinghNo Comments

FUNDING

Tech Firm GOQii Raises $30 million in Equity Funding Round

GOQii Inc, a wearable devices maker has reportedly raised an amount of $30 million (about Rs 212 crore) in its latest equity financing round. The company is based in Menlo Park and Mumbai and is looking to enter into the overseas markets over the next 12-18 months. The funding was led by Japanese conglomerate Mitsui & Co. The particular round also saw participation from crypto investment firm Galaxy Digital and Denlow Investment Trust. Following this funding round, the valuation of the four-year-old startup has reached $100-125 million. Existing investors DSG Consumer Partners, NEA, Edelweiss Financial Services and Cheetah Mobile also participated in the financing round. Also, businessmen like Paytm founder Vijay Shekhar Sharma and Tata Group chairman emeritus Ratan Tata also par...

24Nov By Gauri SinghNo Comments

FUNDING

Top Five Funding of the Week (19th Nov – 24th Nov)

Funding is the act of providing financial resources, usually in the form of money, or other values such as effort or time, to finance a need, program, and project, usually by an organization or company. Funding is a major part of a business and here we have come up with the top five funding activities of the last week that started from 19th November and lasted till 24th November. 1) Geek+ Beijing-based robotics startup Geek Plus (Geek+) has reportedly secured funds amounting to $150 million in Series B funding round. The particular round was led by Warburg Pincus, with participation from other shareholders including Volcanics Venture and Vertex Ventures. With these funds, the company is planning to seize that growing opportunity by investing in product devel...

MagicPin Parent Secures $20 million Led by Lightspeed US

23Nov By Gauri SinghNo Comments

FUNDING

MagicPin Parent Secures $20 million Led by Lightspeed US

The owner and operator of discovery and rewards platform MagicPin known as Samast Technologies has secured funds amounting to $20 million (Rs 141 crore) in a funding round led by Lightspeed Venture Partners US. With this funding round, the valuation of the company has reached an estimated $100 million. The total funding of the three-year-old venture with this round has become about $30 million in equity financing. “The round was led by Lightspeed US, with partners Jeremy Liew and Ravi Mhatre, who have now come on board… We’re now possibly the largest platform driving business to offline retailers and brands in the country,” Anshoo Sharma, chief executive officer of MagicPin stated. The company was founded in 2015 by Sharma and Brij Bhushan. The two founders were at Lightspeed India an...