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P2P Lending Firm Monexo Fintech To Raise $5 Million in Equity

6Jul By Gauri SinghNo Comments

FUNDING

P2P Lending Firm Monexo Fintech To Raise $5 Million in Equity

P2P money lending marketplace Monexo Fintech plans to raise an amount of $5 million in form of equity. The company plans to invest these funds in IT and infrastructure, which require spontaneous capital addition in the initial stages of any online business. Mukesh Bubna, the founder and CEO of the company said that they are looking for a strategic patient capital. Patient capital means those investments in which investors do not seek quick returns. The company had also received the license from RBI to operate an NBFC-cum-P2P lending platform last Friday. This type of lending platform allows the people to borrow and lend money without the need of any financial institution as a mediator. “We have begun talking to investors. With the RBI regulation in place, there is much more positivi...

5Jul By Gauri SinghNo Comments

FUNDING

FoodTech Startup HungerBox Raises $4.5 Million in Series A Funding

A Bengaluru-based business to business foodtech company called ‘HungerBox’ has secured an amount of $4.5 million in a Series A funding round led by Sabre Partners and Neoplux which is a South Korean investment company. Along with these investors, the funding round witnessed participation of Infosys Co-founder Kris Gopalkrishnan and Lionrock Capital, who have been the existing investors in the startup. “HungerBox's strength of their technology-led solution, deep penetration into large corporate accounts and carefully calibrated growth means their business is extremely robust. We are delighted to partner this exciting company as they harness the potential for disruption in the corporate catering space in other markets beyond India,” said Alex Noh, Head of Cross-border Investment at Neopl...

Online Lending Platform LoanTap Raises $6.25 Million Funds

5Jul By Gauri SinghNo Comments

FUNDING

Online Lending Platform LoanTap Raises $6.25 Million Funds

Online lending platform ‘LoanTap’ has successfully secured an amount of $6.25 million (Rs 42.83 crore) in an equity funding round. The round was led by Shunwei Capital, which is a Beijing-based venture capital firm. Apart from Shunwei Capital, the funding round also witnessed the participation of Tuscan Ventures (Mumbai-based private investment company) and Ashish Goenka (owner of Suashish Diamonds) along with existing investors such as India Quotient and Kae Capital. “Our plan is to leverage the Rs 40 crore that we have raised by four to five times to source around Rs 200 crore from lending institutions, which will be used to lend out to more consumers,” said Satyam Kumar, co-founder of LoanTap. Founded in 2016 by Satyam Kumar and Vikas Kumar, the fintech firm LoanTap offers several ...

News Aggregator HubHopper Raised Funds For Expansion

4Jul By Gauri SinghNo Comments

FUNDING

News Aggregator HubHopper Raised Funds For Expansion

A Delhi-based news aggregator platform ‘HubHopper’ has reportedly secured an undisclosed amount in a funding round led by Unit-E Ventures which is a Mumbai-based venture capital firm. The company is planning to utilize the funds in the expansion of its team and also to enhance work on its recommendation space. A part of funds will also be used in redemption and aggressive marketing plans. HubHopper was launched by two brothers names Gautam and Uday Raj Anand in 2015. The company was initially started as a social networking company and gradually emerged as a content aggregation and publishing platform in 2017. This was basically done to reduce the gap between the content consumers and content creators. Talking about the investment part, prior to this funding round, HubHopper had ra...

RPA Startup Automation Anywhere Raises $250 Million

3Jul By Gauri SinghNo Comments

FUNDING

RPA Startup Automation Anywhere Raises $250 Million

The cognitive robotic process automation platform called Automation Anywhere has secured an amount of $250 million in a funding round led by New Enterprise Associates and Goldman Sachs. With this fresh funding round, the company’s valuation has reached $1.8 billion. Automation Anywhere aims to utilize these funds in increasing its customer base in North America, LATAM, India, Europe, Australia, Japan, South Korea and Singapore (ASEAN). Along with this, it also has plans to employ the funds in expanding the technology in additional areas. “Customers tell us that traditional process automation technologies are capable of automating only about 20 percent of an enterprise’s business processes. We believe our Intelligent Digital Workforce Platform can automate up to 80 percent of these pr...

FoodTech Company ‘Biryani By Kilo’ Raises $1 Million

3Jul By Gauri SinghNo Comments

FUNDING

FoodTech Company ‘Biryani By Kilo’ Raises $1 Million

A Gurugram-based foodtech company called ‘Biryani By Kilo’ has reportedly secured funds amounting to $1 million in a pre-series A funding round. The investment was carried forward by a clutch of investors led by Ajay Relan (Founder Chairman at CX Partners) and Vinay Mittal (Chief Financial Strategist at HT Media). The purpose of the startup is basically to use the funds raised in boosting up the operations and developing over 20 more stores all over the country. Apart from this, the company also aims to achieve a sales run rate of more than Rs 40 crore by March 2019. The current revenue of the company is nearly Rs 24 crore along with a 70-80 precent growth rate. The company also stated, “BBK would be raising Series-A round early 2019 to take BBK pan India, and become Rs 100 crore+ in t...

Automobile Aftermarket Platform Raises USD 600K Led by The Chennai Angels and Keiretsu Forum

2Jul By NitishNo Comments

FUNDING

Automobile Aftermarket Platform Raises USD 600K Led by The Chennai Angels and Keiretsu Forum

Chennai-based automobile aftermarket platform, GoBumpr, has raised around $600k in Pre-Series A funding led by the existing investors The Chennai Angels (TCA), Keiretsu Forum and individual investors. The investment round was led by Mr. Vinod Kumar Dasari (MD, Ashok Leyland) and saw participation from Shankar V (Director, Acsys Investments), Ramaraj R (Founding Member, Elevar Advisors), Priyamvada Balaji (Wholetime Director, Lucas Indian Service) from TCA to name a few. Ramesh Mangaleswaran (Senior Partner, McKinsey) and Gopal Mahadevan (CFO, Ashok Leyland) have also invested in the company as part of this round. Earlier, GoBumpr raised $420K in Jan 2017 in their first round of investment. Started in Oct 2015 by IIM grads Karthik Venkateswaran, Nandha Kumar Ravi and Sundar Nate...

Popular Startups That Secured Funds From Ratan Tata

2Jul By Gauri SinghNo Comments

FUNDING

Popular Startups That Secured Funds From Ratan Tata

Indian industrialist and investor, Ratan Naval Tata who is well known as the former chairman of the popular conglomerate Tata Sons (one of the two holding companies of Tata group). Ratan Tata has done a commendable job in terms of investment activities and has been taking a keen interest in the Indian Startup ecosystem. With the help of his private investment company RNT Associates, Tata has marked his footsteps on various startups in the country. Though most of his investments are undisclosed amounts, it is a big honor for startups that are successful in bringing Ratan Tata on board. Also, you might be thrilled to know that Tata has been honored with the Padma Vibhushan in 2008 and Padma Bhushan in 2000, the second and third highest civilian honors awarded by the Government of India. ...

EdTech Company Edureka Raises $2 Million To Accelerate Growth

2Jul By Gauri SinghNo Comments

FUNDING

EdTech Company Edureka Raises $2 Million To Accelerate Growth

The Bengaluru based online education startup Edureka has reportedly secured an amount of $2 million in its first round of funding from privately funded venture investor known as Leo Capital. With the help of the amount raised through this funding, the company intends to reach the aggressive growth targets and bring in more senior expertise on board. The company works on making learning easier and interesting. The aim is to reach all parts of the globe and be accessible all over the world. The platform provides education in latest subject matters such as Cloud Computing, Big Data, Blockchain and Data Science. Along with this, the company also offers short term courses and 24*7 lifetime support. Lovleen Bhatia, Co-Founder and CEO of Edureka, said, “Edureka is a consumer-first company ...

30Jun By Gauri SinghNo Comments

FUNDING

Funding Of The Week (25th June – 30th June 2018)

This week we witnessed a good number of funding activities. A few companies raised a considerable amount of funding from various investors and thus, we have come up with a summary of all the fundings that took place this week i.e. from 25th June 2018 to 30th June 2018. 1) PolicyBazaar.com ETechAces and Consulting which operates PolicyBazaar.com has raised over USD 200 million (around Rs 1,360 crore) through a fresh round of investment led by Japan's SoftBank. The current round of funding will value the company over USD 1 billion. The funds would be used to grow the lending, investment and insurance business along with new initiatives such as healthcare tech and services and international expansion. PolicyBazaar.com has raised a total of USD 366 million throu...

30Jun By NitishNo Comments

FUNDING

FinTech Startup Sqrrl Raises Pre-series A Funding

Gurgaon-based startup Sqrrl Fintech has raised USD 1 million in their Pre-Series A funding round from Equanimity Venture Fund. Launched in March 2017 by trio Samant Sikka, Dhananjay Singh and Sanjeev Sharma the app is aimed at helping young Indians to build the habit of savings and investments. Post this funding round, Rajesh Sehgal, the Managing Partner of Equanimity Investments, will join the board of Sqrrl Fintech. It allows users to invest in high performing (zero-commission) mutual funds based on their investment needs, risk horizons & goals. Further, with a feature to round up your spending to INR 100 or INR 500, Sqrrl automatically invests the leftover amount, making it extremely convenient for the young generation to save while they spend. Sqrrl is a mobile app only ap...

29Jun By Gauri SinghNo Comments

FUNDING

Amazon To Be a Part Of Shuttl’s Fresh Funding Round

The mobile-based minibus service platform, Shuttl is eyeing to raise an amount of $11 million (around Rs 76 crore) in a new round of funding from a group of investors along with the e-commerce giant Amazon. The investors that are expected to invest in this funding round are existing investors Sequoia Capital, Lightspeed Venture Partners and Times Internet Limited. Along with this, another fresh investor may include Dentsu Ventures which is a Japan-based corporate venture fund. Apart from this, it is also being said that Ambiga Subramanian, co-founder of data analytics MuSigma, will also invest according to her personal capacity. With the help of the investment, the company plans to expand and improve its customer base as the bus services apps have struggled to scale up and have of...