FUNDING | Pixr8 News

8Sep By Gauri SinghNo Comments

FUNDING

Top 5 Funding of The Week (2nd Sept – 8th Sept)

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...

8Sep By Gauri SinghNo Comments

FUNDING

Rental Platform Flyrobe Raises $3.71 million in a Fresh Funding Round

Online fashion rental marketplace Flyrobe that is based in Mumbai has reportedly raised around $3.71 million (Rs 26.06 crore) in a fresh funding round. The investors who led the funding round were IDG Ventures and Sequoia Capital. Another existing investor that participated in the round included Tokyo-based GREE Ventures. Following this deal, the valuation of the company has reached roughly around Rs 155 crore ($21.6 million). However, it has not been mentioned that whether this is the firm’s Series B round of funding or if this capital raise was part of a larger investment round. Flyrobe is an online rental platform for apparels which is operated by Omapal Technologies. It was founded three years ago in 2015 by Shreya Mishra, Pranay Surana and Tushar Saxena. The last time that th...

7Sep By Gauri SinghNo Comments

FUNDING

Robotics Firm GreyOrange Raises $140 Million in Series C Funding Round

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. “We see Mithril as a strategic investor as there is an alignment with their core technology focus. The investment from Flipkart will strengthen our relationship,” CEO Samay Kohli said. Foun...

US-Based Factual Raises $42 million from Multiple Backers

6Sep By Gauri SinghNo Comments

FUNDING

US-Based Factual Raises $42 million from Multiple Backers

US-based location data company Factual has reportedly raised funds amounting to $42 million in a fresh funding round. The investors that participated in the round were Upfront Ventures, Felicis Ventures and others. This was a party round, without a lead investor. The funds so raised by the company are being planned to be used in the growth beyond the United States, particularly in the Asia-Pacific region. “It was easy, for one thing,” Gil Elbaz, founder and CEO said. “It didn’t take up a lot of time, I didn’t have to go look for a lead, I could focus my efforts on growing the business.” The company is currently hiring fresh employees in Asia — starting with Chris Pattinson, a former Grapeshot executive who will lead Factual’s Asian headquarters in Singapore. Founded in 2009 by ...

5Sep By Gauri SinghNo Comments

FUNDING

Wunder Mobility Secures $30 million in Series B Funding

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 other 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. “We are enabling communities on four continents to address the global traffic challenge and to deploy more sustainable mobility options faster by hosting a full-stack urban mobility tech platform,” said Gunnar Froh, founder and CEO. As of now, the company works with 70 employees from four offices across Asia, Germany, and South Ame...

5Sep By Gauri SinghNo Comments

FUNDING

US-Based SynapseFI Raises $17 million in Series A Funding Round

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. Founded in 2014, the core product of the company is a platform that helps banks and developers work together. It involves developer-facing APIs that enable companies to connect with banks to offer services, and also bank-facing APIs that allow banks to automate and extend back-en...

4Sep By AdityaNo Comments

FUNDING

Silicon Valley Based Flag Robotics Raises $3.5 Million Funding Led by True Ventures

SUNNYVALE, Calif. -- 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. As part of the raise, they have welcomed Rohit Sharma, venture partner at True Ventures, to the board. Including this round of funding, the company has raised $4.5 million total since Bear Flag Co-Founders Igino Cafiero and Aubrey Donnellan started the company in 2017. Today’s growers compete for skilled labor with the construction, mining and trucking industries. Research suggests that autonomous robots can lower labor expense...

Urban Ladder Eyeing to Raise $35-40 million for Offline Growth

4Sep By Gauri SinghNo Comments

FUNDING

Urban Ladder Eyeing to Raise $35-40 million for Offline Growth

Online furniture retailer Urban Ladder is eyeing to secure funds amounting to $35-40 million. The company’s future growth seems to lie in traditional brick-and-mortar stores. After securing a single-brand-retail trade licence the previous year, Urban Ladder set up six large-format stores in Bengaluru and Delhi-NCR that now account for more than one-third of its total revenue. “We spent the last year testing our offline model,” said chief executive Ashish Goel. “Now that we know it works, we are going to start expanding our offline stores aggressively.” The basic purpose of the company against raising these funds would be to expand its offline presence, adding stores in Mumbai, Chennai and Pune by January. Goel wants the company to be operationally profitable (at the Ebitda level) b...

2Sep By AdityaNo Comments

FUNDING

Online Pharmacy Platform Netmeds.com Raises $35 Million Funding

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. Pradeep Dadha, CEO and Founder Netmeds.com said, "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." "Daun Penh was joined in the round by the existing investors Sistema Asia Fund, and Tanncam Investment. MAPE, the Indian investment bank which has been involved with Netmeds since inception teamed with co-arranger Cambodian Investment Management for this Series C funding round," added Dadha. He it...

1Sep By AnkitaNo Comments

FUNDING

Playtoome Raises $281000 Funding From Venture Catalysts

Venture Catalysts, India's integrated incubator has announced investment worth Rs. 2 crores into Playtoome, a live entertainment destination, via Pre-Series A investment. Led by VCats angels, the funding round saw participation by Arihant Patni, serial entrepreneur Bhaskar Raju Konduru, Founding member of Red Bus & current CTO at Housejoy, Goverdhan Singh Jamwal, Chairman Kunwar Viyogi Memorial Trust, philanthropist and art and culture activist, Akhileshwaran Krishnan-Group CFO at Apollo Hospitals. The platform had earlier raised a seed round of funding of Rs. 1.5 crores from an Angel Investment firm Newport Holdings LLP, founded by Rangarajan Narayanan (Co-Founder EXILANT Technologies) and from HNIs including Ex Global commodity financial services leader Ramesh Sundaresan at OLA...

Google & Xiaomi Eyeing Investment in ‘Where is my Train’ App

31Aug By Gauri SinghNo Comments

FUNDING

Google & Xiaomi Eyeing Investment in ‘Where is my Train’ App

Technology giant Google and Chinese smartphone maker Xiaomi are eying an investment in an app called ‘Where Is My Train’ that provides live updates on trains without the use of internet and GPS. Google is in talks to acquire the two-year-old startup, whereas Xiaomi has held discussions for an investment. It is expected that Google will acquire the company for $30-40 million in the near future. However, the transaction has not yet been finalized. "The talks with Google are more advanced and they are likely to buy the company as a part of their Next Billion Users initiative," a person familiar to the matter stated. Where Is My Train is owned and operated by Sigmoid Labs, and is one of the most downloaded train-based apps in the country. It was was founded by five former executives of Ti...

Chennai’s Largest Chai Retail Chain Raises 2 Crores From Chennai Angels

30Aug By AnkitaNo Comments

FUNDING

Chennai’s Largest Chai Retail Chain Raises 2 Crores From Chennai Angels

Chai Kings, the largest Chai Retail Chain in Chennai raises 2 crores from India’s most active angel investing groups Chennai Angels. Founded in 2016, Chai Kings is the largest Chai Retail Chain in Chennai operating with 8 stores. Chai Kings offers a sumptuous range of chai in exotic flavours, in the most hygienic ambiance, and at perfectly justifiable prices. Chai Kings also delivers Chai at doorsteps through in house delivery personnel as well as through the online food aggregators. With the vision to be the favourite chai place, Chai Kings is expanding rapidly in Chennai with the target of 100 stores in 5 years. “Sadique and Balaji have built a strong brand with Chai Kings, which has a great potential to scale given the vast consumption base in the country. We look forward to working ...