FUNDING | Pixr8 News

11May By Sheldan RungasamyNo Comments

FUNDING

Mumbai-Based E-learning Platform Raises $2.3 Mn Debt Funding

Toppr, the personalised e-learning and online test preparation platform, recently raised a debt funding round worth $2.3 Mn from Alteria Capial – a new investment fund launched by Ajay Hattangdi and Vinod Murali. The Mumbai-based company was founded in 2013 by Zishaan Hayath and Hemanth Goteti to assist students preparing for competitive entrance exams such as IIT, JEE Mains and Advanced, NEET, BITSAT, etc… The company provides e-learning solutions for students from 5th to 12th Grades in programs that includes questions, solutions, concepts, practice tests, and videos for app subscribers. “The Alteria team understands the needs of entrepreneurs and is sensitive to their requirements. Venture debt has been a very useful tool to grow our business without additional dilution and we are ...

10May By Sheldan RungasamyNo Comments

FUNDING

Quick-Service Restaurant Raises Rs 5 crore Funding

Charcoal Eats, a tech-driven quick service restaurant (QSR) raised a Pre-Series A funding round of Rs 5 Crore from several investors. The funds raised will serve to increase Charcoal Eats’ footprint across new demographics while consolidating its presence in current markets its operating as well. Furthermore, it will serve to invest in customer acquisition and brand building as well. Charcoal Eats aims at operating over 60 offline stores spread across 10 different cities which will be a significant upgrade from the 22 outlets it operates across six cities currently, namely Mumbai, Pune, Thane, Navi Mumbai, Nashik and Delhi-NCR. "Our strong product focus enabled by in-house technology is at the heart of our business. In the last 2 years, we have served over half a million customers...

10May By Sheldan RungasamyNo Comments

FUNDING

HeathCare Data Analytics Company Raises $25 Million Funding

Innovaccer, a prominent healthcare data analytics platform announced that it raised $25 million in a Series B funding round led by Westbridge Capital and the participation of Lightspeed Ventures. The Silicon Valley-based company will use the funds to keep developing and strengthening its industry-leading tool and go-to-market capabilities by improving its data platform and enhancing its machine learning, while adding to its already 200+ connectors to healthcare data systems. Innovaccer will also invest in developing a new array of programs destined to cater for patient engagement and platform capabilities for partners to access. Innovaccer Inc. is a startup that aims at incorporating data analytics in the healthcare sector. Its flagship product, called InData, ingests, normalizes ...

10May By Sheldan RungasamyNo Comments

FUNDING

AI Driven Analytics Startup Raises $145 Mn Funding

ThoughtSpot, an artificial intelligence driven analytics company announced that it raised $145 million in a funding round led by existing investors. Investors such as Lightspeed Ventures, Future Fund, Khosla Ventures, and General Catalyst participated in this funding round which witnessed the entry of Sapphire Ventures in the AI firm investors’ team. The funds raised will serve the purpose of upgrading its analytics capabilities, expanding in newer markets such as EMEA and APAC, improve is R&D activities in its centers based in Palo Alto, Seattle, Dallas and Bangalore. Since inception in 2012, ThoughtSpot raised a total of $306 million in funding and the company states to have poured over $10 million to operate efficiently in India. ThoughtSpot also revealed that the $203 b...

Amazon.in Raises $385.7 Mn Ahead of Price War Against Flipkart-Walmart

9May By Sheldan RungasamyNo Comments

FUNDING

Amazon.in Raises $385.7 Mn Ahead of Price War Against Flipkart-Walmart

Amazon is gearing up for a price war in the wake of confirmations about the Flipkart-Walmart acquisition deal. The American e-commerce giant is set to infuse its funds with fresh capital worth an eye-dropping $385.7 Mn (INR 2,600 Cr) into its Indian unit, Amazon Seller Services to rival Indian arch-enemy Flipkart, according to a Livemint report. Amazon Corporate Holdings and Amazon.com inc. have distributed $385.7 Mn worth of funds in its Indian operations, confirmed by fillings to the corporate affairs ministry. The entry of deep-pocketed Walmart in the Indian e-commerce market is alarming the US digital marketplace giant who bids to expand and strengthen its capital to rival dropping prices that will probably follow the acquisition of Bengaluru-based Flipkart. The report also st...

8May By Sheldan RungasamyNo Comments

FUNDING

Times Group Raises Debt Funding of $75 Million

Bennett Coleman and Company Limited, the media group that owns The Times Group recently raised a funds worth INR 500 Cr ($ 75M) in a non-convertible debenture-funding round with the participation of a string of investors. According to Investopedia, "Nonconvertible debentures are unsecured bonds that cannot be converted to company equity or stock. Nonconvertible debentures usually have higher interest rates than convertible debentures." The media group issued unsecured, unlisted, rated, redeemable, non-convertible debentures for a period of 3 years with a coupon rate of 7.48% per year and paid annually. The lenders participating in this debt funding round are ICICI Lombard General Insurance with Rs 200 Cr, DSP Blackrock Short Term Fund with Rs 160 Cr, Aditya Birla Sun Life Insuranc...

Educational Tech Startup Raises INR 3.84 Crore From Sequoia Capital

7May By Sheldan RungasamyNo Comments

FUNDING

Educational Tech Startup Raises INR 3.84 Crore From Sequoia Capital

Unacademy, an edtech startup raised INR 3.84 crore funding from existing investors – Sequoia Capital, Saif Partners, Nexus Venture Partners and Blume Ventures in a Series B equity round. Its parent company, Sorting Hat Technologies Private Limited allotted 400 Series B1 preference shares of Rs 100/- each and a premium of Rs 96,127.10/- per share. Previously, Unacademy raised an INR 75 crores Series B round in September 2017 led by Sequoia Capital and Saif Partners along with the participation of several other investors, notably, Nexus Venture Partners and Blume Ventures. Unacademy was founded by Gaurav Munjal, who is now CEO of Flatchat, Roman Saini, Hemesh Singh and Sachin Gupta. Initially, the edtech startup operated as a YouTube channel but its popularity propelled the platform...

Yatra to Raise $100 Mn Over 3 Year Period

5May By Sheldan RungasamyNo Comments

FUNDING

Yatra to Raise $100 Mn Over 3 Year Period

Yatra, the online major travel company is set to gradually raise $100 Mn of funding over the next three years, as recent regulatory filings with the US Securities and Exchange Commission (SEC) reveal. The filings state, “Under this shelf registration process, we may offer ordinary shares, preference shares, various series of debt securities or even warrants to purchase ordinary shares, preference shares and debt securities, either individually or in units, in one or more offerings, up to a total dollar amount of $100 Mn.” According to the company’s group chief financial officer Alok Vaish explained that the company “don’t have immediate need of funds. We can raise money at any point of time over the next three-year kind of time frame. There is no specific description of offering righ...

4May By Sheldan RungasamyNo Comments

FUNDING

Consumer Electronics Startup Raises Rs 6 Crore Seed Funding

boAt, a lifestyle brand that delivers consumer technology products raised its seed funding of Rs 6 crore from Fireside Ventures, an early-stage consumer brand-focused investment firm. boAt specializes in providing consumer electronics goods with a touch of fashion. It primarily provides products such as earphones, headphones, speakers, travel charge and premium rugged cables. It aims at providing electronic products that are widely used in the everyday lives of 21st century citizens that can be used as a fashion accessory. The company relied primarily on capital poured by its founders since inception two years ago. The funds raised from Fireside Ventures will serve the purpose of marketing the brand, developing products and widening its distribution across more tech product categ...

3May By Sheldan RungasamyNo Comments

FUNDING

FinTech Startup Opentap Raises Rs 3 Crore Funding

OpenTap, a FinTech startup based in Chennai has received a funding of more than $ 450,000 (Rs 3 crore) from a set of high net-worth individuals, according to a statement from the company. The funds raise will be used to develop its team, strengthen its technological infrastructure, marketing and to widen the reach of its financial services network across the country, the statement added. Opentap which is operated by Vyatta Technology Private Limited, was founded in 2015 by Senthil Natrajan, Harish Devarajan and Suresh Venkataramani. All three co-founders have an experienced background in the finance field for prior to founding the company, Natarajan worked in Barclays and JP Morgan, Devarajan is the chief executive of Deep Value, a US-based cash equities algorithmic trading desk, and...

2May By Sheldan RungasamyNo Comments

FUNDING

College Event Ticketing Startup Raises $250,000 funding

TheCollegeFever (TCF), a college event ticket booking startup raised a seed funding worth $250,000 (Rs 1.7 crore) from Mumbai-based investment firm 11.2 Advisors. It is the first time that TheCollegeFever is raising funds from external resources and intends on using the capital for customer acquisition and improving technology, its founder Kushal Aralihalli said. The Bengaluru-based company, which is run by Culturo Technology Pvt. Ltd, works in partnership with 2,000 colleges and has sold over 4 lakhs tickets in over 6,000 events amounting to Rs 10 crore, its Aralihalli added. Kushal Aralihalli founded the event ticket startup in 2016 and managed to double its growth since last year. TheCollegeFever operates in a market segment that makes it compete directly with giants BookMyS...

1May By NitishNo Comments

FUNDING

Mumbai based Fintech Startup Raises Funding

Mumbai based fintech Startup Rubique Technologies raises an undisclosed amount of funding led by Japan's Recruit Group and Russian venture capital management company, Emery Capital. The funding will enable Rubique to further strengthen its technology and analytics capabilities. Established in the year 2014, the company has registered 200k customers and facilitated loan disbursement worth approximately Rs. 2,670 crores and over 82,000 credit card setups through its platform. The company generated revenue of around $7.2 million. Rubique aims to break even in 2019 and achieve Rs. 100 crores revenue by 2021. "We have managed to successfully stand out in the FinTech space as an innovator par excellence and one of the genuine success stories of the domain through our unique asset-light...