Thursday, March 28

FUNDING

Startup Funding News: Get the latest news on startup funding, small business funding, investor management and many more about funding on Pixr8.

Mumbai-Based Porter Raises Funding From Mahindra
FUNDING

Mumbai-Based Porter Raises Funding From Mahindra

Porter, a logistics marketplace based in Mumbai raised Rs 50 crore funding from Mahindra Group in a Series C funding round. Resfeber Labs Private Limited operates the firm and allotted 246,280 shares of Rs100 each for the funding at a premium of Rs 1932.20 per share on March 28, 2018. Presently, the startup raised over Rs 135 Cr from investors that comprise of Sandeep Tandon, Anupam Mittal, Kae Capital, Sequoia Capital and Mahindra. As part of the deal, Mahindra’s Smartshift will merge with Porter. Porter was founded in 2014 by three IIT alumni, notably, Pranav Goel, Vikas Chaudhary and Uttam Digga and specializes in helping residents hire light trucks in order to shift their goods from one place to another. Moreover, Porter combines technology and logistics in its service to ensure ...
Startup Improving Lives of Diabetics Raises Funding
FUNDING

Startup Improving Lives of Diabetics Raises Funding

BeatO, a platform dedicated in catering and facilitating the lives of diabetes patients recently raised an institutional round of funding worth $1.3 million led by Leo Capital in partnership with Blume Ventures. "We are extremely excited to associate with partners like Leo and Blume. India is expected to have 100M diabetics by 2030. This puts tremendous pressure on all stakeholders in the healthcare eco-system both from a cost and well-being perspective to specially cater to this large demographic. This funding is a re-enforcement to the fact that we are solving a problem of massive scale," said Gautam Chopra, co-founder and CEO, BeatO. BeatO makes use of smartphones, its app and a gluco-meter to monitor blood glucose in its patients along with the follow through of its experts. They...
LetsTrack Raises $ 1.7 Mn from Seed Investor
FUNDING

LetsTrack Raises $ 1.7 Mn from Seed Investor

LetsTrack raised funds of $ 1.7 million from US investor James Arthur, who will join the firm as Chief Operating Officer in an attempt to expand its operations on the international market. LetsTrack is planning to offer their services in around 50 countries until 2020. The company’s valuation was estimated according to various contributing factors and the company received many offers at a valuation of $ 17 million. While investments are usually done in order to secure capital and raise money, LetsTrack looked for an investor who would bring a strategic plan in order to raise the overall quality of the company. "For me, it was a no-brainer because James was not only bringing money but also dedicating the next 10 years and for Letstrack that is invaluable. Now we have an investor and p...
Fashion Platform CoutLoot Raises $1 Million Series A Funding
FUNDING

Fashion Platform CoutLoot Raises $1 Million Series A Funding

India's leading C2C fashion re-commerce platform CoutLoot raises an investment of USD 1 million pre-series A funding round by Jadevalue Fintech, the investment arm of Chinese unicorn CashBUS led the investment round. CoutLoot has extended its operations across 14 cities and achieved more than 5,00,000+ app downloads. One of its unique features, 'Celebrity Closet' wherein it has established exclusive partnerships with leading celebrities to sell items from their own personal closets, has also received an overwhelming response from its users. A few of the TV celebs that sell on CoutLoot include Karishma Tanna, Aditi Bhatia, Niti Taylor, Aarti Chabbria amongst others. Considering its massive popularity, Jadevalue Fintech's investment in CoutLoot is being identified as a strategic move b...
Peer-to-peer Lending Platform Raises $1.3 Mn Funding
FUNDING

Peer-to-peer Lending Platform Raises $1.3 Mn Funding

Finzy, a peer to peer (P2P) lending platform, announced that it received a first round of pre Series A funding worth $1.3 million from investors in the lending industry. The next round of this Series A funding is projected to complete with additional investments from a pre-selected group of investors in the coming 2 months. The capital raised from the funding will serve the purpose of improving technology, simplifying and facilitating the process of lending money and building a good team for the company. However, it has been pre-decided that a major chunk of the funding will be used to expand the reach of the company especially in Tier 1 cities as Finzy is looking to provide its services to a larger client base. Finzy is an online lending platform that specializes in providing easy, ...
Mumbai Based Drone Startup Raises Rs 64 Lakhs
FUNDING

Mumbai Based Drone Startup Raises Rs 64 Lakhs

Drona Aviation, a Nano drones company received Rs 64 Lakhs from Globevestor, existing investor SINE IIT Bombay and additional investors. Drona Aviation Private Limited prepared 865 preference shares worth Rs 100 each and a premium of Rs 7377 per share. Previously, SINE IIT Bombay invested Rs 10 lakhs in the startup. Drona Aviation was founded by three IIT alumni namely Apurva Godbole, Prasanna Shevare and Dinesh Sain. The company specializes in the building of drones that are meant to be lighter than 100g meant for industrial and civic applications. Presently, the startup is focusing almost solely on drone cinematography. Up to now, the startup has only developed one prototype of Nano drone called Pluto which is a quick, robust and light drone with an open source firmware and a du...
Multibhashi Raises Fresh Capital From Existing Investors
FUNDING

Multibhashi Raises Fresh Capital From Existing Investors

Multibhashi, a language learning platform, based in Bangalore and Jaipur, has raised a funding of Rs. 60 lakhs from existing investors Aniruddha Malpani and CIIE Initiatives. The startup focuses on making language learning simple, easy and enjoyable via its mobile-based interactive application. Starting March 28, 2017, Multibhashi Solutions Private Limited allocated 1284 preference shares priced each at Rs. 10 and a premium of Rs.4664.88 per share. The startup was successful in raising a seed of Rs. 75 lakhs early in September 2017. In addition to Aniruddha Malpani and CIIE Initiatives, Suresh Chandra Koolwal had also participated in the round. While early in April 2017 the company had raised a seed of Rs. 1 Lakh where notable investors were Devendra Agarwal and Anuradha Agarwal. ...
Paytm Mall Raises $445 Mn Funding From SoftBank and Alibaba
FUNDING

Paytm Mall Raises $445 Mn Funding From SoftBank and Alibaba

Paytm has been all over the landscape these past few weeks and days with major consecutive news announcements. This time, Paytm mall, the e-commerce daughter business of Paytm has raised over $445 Mn in funding from Japanese conglomerate SoftBank and Alibaba, the Chinese e-commerce giant. Regulatory filings reveal that SoftBank has been the major investor in this round, funding around $400 Mn of the total amount while Chinese company, Alibaba, fueled the rest. The first tranche of $55 Mn has already been sent to Paytm Mall’s account. Paytm Chief Operating Officer, Amit Sinha confirmed the news in a media statement saying, “This latest investment led by SoftBank and Alibaba reaffirms the strength of our business model, growth trajectory, execution capability and the potential of India...
Social Media Analytics Startup Raises Rs 2 crore Funding
FUNDING

Social Media Analytics Startup Raises Rs 2 crore Funding

Synctag, social media analytics startup received a Series A funding of Rs 2 Crore from private equity company Subhkam Ventures to begin operating in international markets. The private equity firm disclosed that the funding was carried out for a “significant stake” in the AI analytics startup.  Investor Mohit Khadaria also participated in the funding round and joined the board of the company as well. Filings reveal that the funding occurred in January. Synctag is now looking forward to step in the markets of New Zealand, Australia, Ireland and UK and scale up the services and products it offers with their fresh capital infuse. This is already the fourth round of funding for Syntag in their three years of activity. They received two rounds of seed funding in 2015 and a third round in 2...
Veritas Finance Receives 23 crore funding from Belgium Firm
FUNDING

Veritas Finance Receives 23 crore funding from Belgium Firm

Veritas Finance, a Non-Banking Financial Company (NBFC) based in Chennai received Rs 23 Crore as in debt financing from Incofin Investment Management which is a fund manager company based in Belgium. The NBFC first allotted 230 Non-Convertible Debentures (NCDs) worth Rs 10 lakhs each on March 26, 2018. So far, Veritas Finance raised over Rs 268.8 Crore from a group of investors that include CDC Group, Swiss Fund, AAV Sarl and Lok Capital in equity and debt financing. Incofin Investment Management is a company that manages funds and investments in developing countries motivated in promoting inclusive progress. The company relies on investors that include leading development funds, banks, insurance companies, pension funds, high net worth and retail investors. The firm is famous for in...
Mumbai-Based Cannabis Company Raises 3.08 Crore Funding
FUNDING

Mumbai-Based Cannabis Company Raises 3.08 Crore Funding

Bombay Hemp Company Pvt Ltd. (BOHECO), raised Rs3.08 Crore capital from Ginni International Limited, a textile company based in Hong Kong and existing investor, Mukhtar Tejani of Gits Food. The company had previously allotted 308,063 shares worth Rs100 each. BOHECO previously raised 6.25 crore from a group of investors that included the notorious Ratan Tata, Chairman emeritus of Tata Sons and Sanvar Oberoi, Google India’s managing director. The company specializes in the study of cannabis for medicinal purposes. It began establishing its business-to-consumer apparel brand B Label made from cannabis and another branch of business-to-business textiles made from cannabis such as fabrics, fibers and yarns and hemp seed products as well. The company, in partnership with the Council of Sci...
FUNDING

Employee Engagement and Benefits Startup Raises Seed Funding

Gurgaon based HR Technology startup Benepik that provides a mobile-based solution for Employee Communication, Engagement, Rewards and Recognition, has raised an undisclosed amount in seed funding. Benepik has raised the seed funding from a group of investors including Vishal Bali. Vishal is a serial investor and has invested in several startups including Bengaluru based Health Tech start-up Feet Apart. Delhi-based HR Leader Yogesh Misra and a Delhi based HNI also participated in the round. Benepik was founded in 2015 as an Employee Benefits platform. Saurabh Jain, Founder & CEO is an alumnus of Delhi School of Economics and has worked in consulting and technology practices at Capgemini, Deloitte and UNDP across India & Europe. In the last two years, Benepik has evolved ...