FUNDING | Pixr8 News

Chennai based Startup Raises $2mn From Calega

25Jun By NitishNo Comments

FUNDING

Chennai based Startup Raises $2mn From Calega

Online office supplies platform Aahaa Stores announced fresh equity infusion of USD 2 million, led by global investment group, Calega. The company plans to utilise the fresh investments to upgrade their technology, expand business across new verticals and geographies, enrich infrastructure by inducting more independent service providers and mobilise superior talent. The Chennai-based startup helps businesses save on indirect purchases spend by managing their supply chain, bringing collective bargaining benefits and streamlining the vendor network. Before this round the company raised capital funds twice, worth one million dollars each, from a group of investors led by YourNest. "We are well on course to achieve the first milestone of Rs. 100 million per month sales. Using these f...

23Jun By Gauri SinghNo Comments

FUNDING

News of the Day: Funding News Of The Week (18th-23rd June)

This week was quite eventful in terms of funding activities. Few of the well-known firms raised a substantial amount of funds from different investors. So, here you can have a glimpse of the major funding activities that took place this week starting from 18th June 2018 to 23rd June 2018. The recap of funding for the week is as follows: 1) Swiggy Food Delivery Platform Swiggy sealed its much awaited $210 million funding with Russian billionaire Yuri Milner’s’ DST Global thereby finally making entry into the prestigious “Unicorn” club. The total capital of the company crossed $466 million followed by this round. Swiggy will be using the freshly raised capital in revamping its supply chain network and expanding to new markets. With an expected market valuation of $1.2 billion, ...

22Jun By Lavina TolaniNo Comments

FUNDING

Bike Rental Platform WickedRide raises $9.1 Mn Funding

Online Bike and Scooter Rental Platform Wickedride Adventures Services Pvt Ltd have raised Rs. 62.13 crore ( $9.1 million) in a funding round led by Accel Partners and Sequoia Capital. With the latest round in place, company's valuation has roughly reached Rs. 130-132 crore. As per Bengaluru based filings with Ministry of Corporate Affairs, Raghunandan Gangappa- co-founder of TaxiForSure that later got acquired by Ola also participated in the round. Founded in 2014 by Vivekanand Hallekere along with Varun Agni and Anil G, WickedRide has two different entities for its online scooter and bike rental ventures. It focuses in on bringing the best of motorcycling on one platform and make it easily accessible. The platform currently offers services in 10 cities including Bengaluru, Ja...

22Jun By Gauri SinghNo Comments

FUNDING

Beauty Retailer Purpelle Raises $2.56 Million Funding

The beauty products and services marketplace Purpelle has reportedly raised fresh funds amounting to Rs 17.5 crores ($2.56 million) from a group of investors. According to the sources, the funding was secured in a number of tranches and was led by an unidentified London-based investment fund. The companies that participated in the funding round were Patrick Chong Fook Seng (founder of Luxasia Group), a Singapore-headquartered omni-channel retailer of beauty products, and existing investor JSW Ventures (venture capital arm of ‎the JSW Group). The valuation of the company after the funding round has reached roughly around Rs 240-245 crore ($35-36 million). Purpelle has raised funds basically for the expansion of its business operations and to improve the customer base. Purpelle is a...

Swiggy turns “Unicorn”, Raises $210 Mn from DST Global

21Jun By Lavina TolaniNo Comments

FUNDING

Swiggy turns “Unicorn”, Raises $210 Mn from DST Global

Food Delivery Platform Swiggy has sealed its much awaited $210 million funding with Russian billionaire Yuri Milner's' DST Global thereby finally making entry into the prestigious "Unicorn" club. The company has informed that the investment round also saw participation from hedge fund Coatue and existing backer Meituan Dianping, with a total capital crossing $466 million including this round. Swiggy will be using the freshly raised capital in revamping its supply chain network and expanding to new markets. With an expected market valuation of $1.2 billion, the food delivery startup is ready to beef a war with Ant Financial-backed Zomato and new rivals like Ubereats and Ola-owned Foodpanda. Sriharsha Majety, CEO of Swiggy, in a statement, said, We’re thrilled to have grown the onl...

21Jun By Lavina TolaniNo Comments

FUNDING

Sanjeev Kapoor’s appliance brand Wonderchef raises Rs. 700 Cr Funding

Wonderchef, Renowned Chef Sanjeev Kapoor's promoted appliance brand has raised Rs. 70 crore from a mid-market private equity firm, Amicus Capital Partners which valued the firm at Rs. 700 crores. The appliance brand came to inception in 2009 through founders Sanjeev Kapoor and former Sodexo Pass India MD Ravi Saxena. It primarily deals with selling premium quality kitchenware appliances, cookware and bakeware under the Wonderchef brand. Mahesh Parasuraman, co-founder of Amicus Capital said, Wonderchef has been able to build a strong brand in the cookware and kitchen appliance category within a short period of time. We are committed to helping the company emerge into a clear market leader in the next few years. Notably, the recent funding marks third investment round raised by the co...

20Jun By Lavina TolaniNo Comments

FUNDING

Micro Lending Platform SMECorner raises $7 Mn Funding from Capital First

Digital Micro-Lending Platform SMECorner has raised around $7 million ( Rs. 47.5 crores) from NBFC Capital First Ltd and a clutch of investors including Accion Ventures. The capital raised is a mix of debt and equity with 25 crores in debt and Rs. 22.5 crore in equity. Post the investment, Capital First will own a 14.2% stake in SMECorner. As informed by the NBFC in its stock exchange filing, the deal is aimed at sealing a partnership with Digikredit for loan orientation. It is backed by Singapore sovereign wealth fund GIC and private equity firm Warburg Pincus. SMECorner which helps SME's to access loans from banks will be using the capital to scale its loan book by expanding to offline branches and honing its platform. Samir Bhatia, founder and chief executive at SM...

19Jun By Lavina TolaniNo Comments

FUNDING

IndiQube raises $15 Mn Funding from WestBridge Capital

IndiQube, a workspace solutions provider has raised USD 15 million in its Series A funding round led by WestBridge Capital. The investment also witnessed participation of Ashish Gupta, co-founder of Helion Ventures. Notably, the funding marks the first external round for the company where the funds shall be used for company expansion to cities like Mumbai and Chennai, increasing its workforce and brand creation, informed the founders, Rishi Das and Meghna Agarwal. Rishi Das, further added We already have about 15,000 seats operational, which will be increased to 25,000 by the end of the fiscal. By then, we will also expand to Pune and Hyderabad. We are also looking at setting up presence in Mumbai and Chennai. IndiQube currently in-houses 1.4 million sq ft of workspace and has some...

19Jun By Gauri SinghNo Comments

FUNDING

Elucidata Corp. Raises Seed Funding To Modify Drug Discovery

A data science company called Elucidata Corporation announced that it raised a seed funding amounting to $1.7 million carried out by Hyperplane Venture Capital. Along with Hyperplane Venture, other angel investors were a part of the seed funding round as well. The backed company has already started working well and has gained profitability. Elucidata Corporation plans to utilize these funds in the expansion process and to transform drug discovery. It wants to grow its team and operations in New Delhi and also introduce some fresh discovery tools for the process of discovering drugs. The company is planning to grow and expand extensively. “The potential for Elucidata’s platform to improve the lives of countless people — from those suffering from diabetes to a wide range of other dise...

Ed Tech Platform Unacademy Eyeing To Raise $30 Mn

18Jun By Lavina TolaniNo Comments

FUNDING

Ed Tech Platform Unacademy Eyeing To Raise $30 Mn

Unacademy, the popular online learning technology platform is gearing up towards raising a series-C funding round of $25-30 million led by Sequoia Capital along with another clutch of investors. The investment round will bring company's valuation close to around $100 million. Pixr8 had earlier reported Unacademy raising an INR 75 crores Series B round in September 2017 led by Sequoia Capital and Saif Partners along with Nexus Venture Partners and Blume Ventures. The Bengaluru-based startup is now India’s largest educational platform, helped over 300,000 students prepare to crack competitive examinations through over 2,400 online lessons, and specialized courses. It has an impressive board of educators on board ranging from influencers like Dr Kiran Bedi to teachers in smaller town...

Google to Invest $500 Million in Chinese E-commerce Giant

18Jun By Gauri SinghNo Comments

FUNDING

Google to Invest $500 Million in Chinese E-commerce Giant

The biggest multinational tech company Google announced on Monday that it will invest an amount of $500 million in Chinese second largest e-commerce platform called JD.com. Both the companies have mentioned this funding as an association that will help in the promotion of JD.com products on Google’s shopping service. In return for the funds, Google will receive more than 27 million newly issued Class A ordinary shares of JD.com at an issue price of $20.29 per share. This would also be helpful for the Chinese company to expand its existence beyond China and Southeast Asia to other markets in the US and Europe. "This partnership with Google opens up a broad range of possibilities to offer a superior retail experience to consumers throughout the world," stated Jianwen Liao, JD.com's chief...

18Jun By Lavina TolaniNo Comments

FUNDING

Recommerce Platform Cashify raises Funding, pacts with China’s AiHuiShou

Cashify, a Gurugram based online marketplace for used smartphones has partnered with Chinese recommerce firm AiHuiShou as a strategic investor and partner in order to reinforce its international expansion. Though the actual financial details of the deal have not been disclosed by the company, sources have cited that the collaboration is a part of the latest funding round for Cashify. While the partnership will help Cashify leverage AiHuiShiu's technology, it will also help to bring operational efficiencies in its business as the platform is eyeing to expand across international markets like the Middle East and Indonesia by next year. Cashify is backed by Blume Ventures and Shunwei Capital and works with many offline as well as online channels including Amazon and Flipkart. &nbs...