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Micro-Lender Aye Finance Raises $3.8 Mn From Hinduja Leyland And Others

19Feb By Sabhyata AgarwalNo Comments

FUNDING

Micro-Lender Aye Finance Raises $3.8 Mn From Hinduja Leyland And Others

Aye Finance, a Fintech company providing loan to micro, small and medium enterprises has raised $3.8 Mn (INR 25 Cr) from three investors including including Hinduja Leyland Finance and IntelleGrow. The investment took place through a securitisation deal, facilitated by Vivriti Capital. Aye Finance, which was founded by bankers Sanjay Sharma and Vikram Jetley in 2014, have previously secured $6.28 million from IFMR which happened less than a month ago. It also bagged $1.5 Mn (INR 10 Cr) in a similar kind of securitisation deal in July 2017. Speaking of the current funding and two of the investors Hinduja Leyland Finance and IntelleGrow, Sanjay Sharma, Co-Founder and Managing Director of Aye Finance said, “I believe if India has to rise with a social balance, the micro businesses at ...

Messaging Platform Telegram Raised $850 million

17Feb By RishabhNo Comments

FUNDING

Messaging Platform Telegram Raised $850 million

As per the latest filing by Telegram CEO Pavel Durov with SEC, Telegram's billion dollar ICO (Initial Coin Offering) has raised its initial $850 million, reaching its first milestone. According to the report, that was submitted on Tuesday, the money is raised for the "development" of TON (Telegram Open Network) Blockchain, "the development and maintenance of Telegram Messenger and the other purposes described in the offering materials." "This $850,000,000 offering was made under a claim of federal exemption under Rule 506(c) and/or Regulation S under the Securities Act of 1933. The issuers may pursue one or more subsequent offerings, in which case a new or amended Form D will be filed," the report clarifies. The initial sum raised is most likely the pre-sale stage of the ICO, as...

Mapping Startup onXmaps Raises $20.3M from Summit Partners

17Feb By RishabhNo Comments

FUNDING

Mapping Startup onXmaps Raises $20.3M from Summit Partners

Missoula, Montana based mapping startup onXmaps has raised a funding of $20.3 million in a Series A round led by global growth equity investor Summit Partners. The round also saw participation from Bessemer Venture Partners, Millennium Technology Value Partners, Next Frontier Capital and NBCUniversal CEO Steve Burke. This funding is one of the biggest round that any startup in Montana has raised. The new development will be used to expand the teams at its Missoula and Bozeman, Montana, offices, to continue building all aspects of its mapping solutions, and to assemble the definitive off-pavement mapping data set. onXmaps allows its users to download offline topographic maps, indicating public and private lands and other details that can help a traveler to locate about its surrounding...

16Feb By Sabhyata AgarwalNo Comments

FUNDING

Expense Management Platform Happay Raises Funding From Sequoia And Others

The expense management software for enterprises, Happay has raised Rs 1.60 crore ($250,000) in a fresh round of funding, a report by TechCircle confirms. The IT services company raised a total of $10 million (Rs 65.13 crore) in the round led by existing investor Sequoia Capital. Happay which was found in 2012 in Bangalore, Karnataka raised the same amount at its previous Series B funding in December. The company had raised that round at a post-money valuation of $53-55 million. The funding round observed the involvement of Sequoia Capital, Singapore-based private equity fund Axiom Capital and AME Cloud Ventures, the venture led by Yahoo co-founder Jerry Yang and other investors etc. Previously in 2015, Happay had raised $7.2 million from Sequoia Capital and Prime Venture Partners ...

16Feb By Sabhyata AgarwalNo Comments

FUNDING

Zoomcar Raises $40 million Funding From Mahindra & Mahindra

The car and bicycle rental company Zoomcar have raised up to Rs 176 crore from Mahindra & Mahindra the Indian multinational car manufacturer. Mahindra & Mahindra (M&M) today said it will invest up to $27.6 million in-car and bicycle rental firm Zoomcar India and Zoomcar Inc, its US incorporated holding parent company. The deal specifies the fact that the investment of such a huge amount of Rs 176 crore when converted to common stock of Zoomcar Inc. ,would constitute approximately 16 per cent stake of the automotive major in Zoomcar Inc. This investment is a part of Series C round of funding worth $40 million (Rs 256 crore) which including the previous investors, the names of which the self-drive car rental startup didn't disclose. The startup ZoomCar was the first in Indi...

E-commerce Conglomerate Infibeam raises $6.2 Million from TV18

15Feb By Sabhyata AgarwalNo Comments

FUNDING

E-commerce Conglomerate Infibeam raises $6.2 Million from TV18

Infibeam, an Indian e-commerce and internet conglomerate has raised Rs 40 crore from Mukesh Ambani's supervised TV18 Broadcast Limited. The Ahmedabad based e-commerce giant has signed a stock-exchange disclosure according to which Infibeam will issue fully convertible warrants equivalent to a 0.4% stake in the company upon conversion. Infibeam which was a news maker in the year 2017, had the preferential shares been issued at a conversion price of INR 186.91 per equity share as per the company’s BSE filing on February 14, 2018. The conglomerate had recorded a similar transaction in the past with Bennett&Coleman Company Limited, that invested Rs 60 crore in Infibeam by subscribing to preferential warrants in January 2017. Infibeam was founded by former Amazon executive Vishal M...

Online Coding Startup HackerRank Raises $30M in Series C Round

15Feb By PriyankaNo Comments

FUNDING

Online Coding Startup HackerRank Raises $30M in Series C Round

Technical talent evaluation and online coding challenge community HackerRank announced on Tuesday that it has secured $30 million in a Series C round of funding led by JMI Equity, a growth equity firm focused on investing in leading software companies. In addition to that, Suken Vakil, General Partner at JMI Equity, has joined HackerRank's Board of Directors. The round also saw participation from its existing investors, including Khosla Ventures, Battery Ventures, Randstad Innovation Fund, and Chartline Capital Partners, that added to the fund making it to $58.2 million. The company said in a press release that it will be using the infused funding to "accelerate its growth in the enterprise, expand and support its thriving and rapidly growing community of more than 3.4 million develo...

15Feb By RishabhNo Comments

FUNDING

RailYatri To Raise $10 Million Funding From Omidyar Network

Indian Railway query platform RailYatri is in talks to secure a funding of $10 million from its existing investor Omidyar Network, a philanthropic investment firm. This third round of funding will also see participation from its other existing investors including Blume Ventures, Helion Venture, Nandan Nilekani according to the source ET. “While the talks are on with our existing investors, the quantum of capital we will raise will depend on the scale we wish to achieve over the next 12-18 months,” Manish Rathi, co-founder of RailYatri told the source. The fresh capital will be used to expand the firm's offerings to capture the long-distance market through penetration in geographical spread of buses, along with the introduction of long-distance taxis. RailYatri will also be aiming ...

14Feb By RishabhNo Comments

FUNDING

Food-tech Startup Holachef Raises Rs 2 Crore Funding

Mumbai based diamond manufacturer and distributor Laxmi Diamond Pvt Ltd's Ashok Kumar Gajera has invested Rs 2 crore in food technology startup Holachef a financial daily reported. Holachef is a food delivery service from its "innovative food combos". The funding is raised at the same valuation as its $5 million Series B round which was held in April, last year. The food delivery startup had raised around $5 million from its existing investors- Kalaari Capital, and was participated by SIDBI Venture Capital and India Quotient, as per the filings with the Registrar of Companies and documents. The Series-B round was completed in two rounds- valuing the company at Rs 143 crore. The startup has been working to build up its team and scale its logistics infrastructure to streamline the busi...

13Feb By NitishNo Comments

FUNDING

Lendingkart Raises 565 Crore Equity Funding

Ahemdabad based India's leading fintech platform Lendingkart raises $87 million (565 crore) from Singapore based investment firm Fullerton Financial Holdings. Fullerton Financial Holdings is a subsidiary of Temasek Holdings (Private) Limited. Lensingkart has also signed a MoU (Memorandum of Understanding) with Fullerton India Capital, a fully owned subsidiary of Fullerton Holdings regarding creating potential initiatives to support their respective businesses. Funding So Far- Lendingkart has raised total $173 million (1,129 Crore) funding in debt and equity form. 1) Lendingkart Raises Rs 30 Cr From Dutch Development Bank 2) Lendingkart Raises Rs 25 Cr. In Debt Funding From SBI 3) Lendingkart's NBFC Arm Bags $25M From A Clutch Of Investors 4) Ahemdabad Based Lendingkart Rai...

9Feb By Sabhyata AgarwalNo Comments

FUNDING

Fitness Platform Healthifyme raises $12 Million in Series B Funding

Healthifyme, an Indian digital weight loss platform has announced its $12 Million Series B funding round by Sistema Asia Fund, with the venture also becoming the member of company's board. Healthifyme that claims to have 4 million users also had Silicon Valley-based Samsung Next, Singapore’s Atlas Asset Management, and Japan’s Dream Incubator as investors in the funding round. Previously in May 2016, it raised $6 million in Series A funding from IDG Ventures India, Inventus Capital and Blume Ventures. In 2015, the company raised an undisclosed amount in Series A funding from independent links. The recent Series Funding B transaction is believed to be the outcome of advise by RainMaker Group in October 2017. The Bengaluru based startup was found in 2012 by Tushar Vashisht, Math...

9Feb By Sabhyata AgarwalNo Comments

FUNDING

Icertis receives $96 million in latest funding by Meritech Capital Partners And More

Icertis, a contract management company offering management software services to enterprise platforms, has secured $50 million in its series D funding. The finance is done by Meritech Capital Partners along with supplementary investments by two of the known tech-Investment companies in the world, PSP Growth and Cross Creek Advisers. Apart from these, the current investors which included B Capital, Ignition, Greycroft, and Eight Roads engaged in the round totalling the funding to $96 million. This funding was followed by Series C funding in last year march, where the total funding was estimated to be $46 million led by B Capital Group and previous investors namely Ignition Partners, Greycroft in partnership with e.ventures and Eight Roads Ventures. Following such capitalisation, it str...