FUNDING | Pixr8 News

Alibaba and Ant Financial Invested Net $500M in Zomato and BigBasket

2Feb By RishabhNo Comments

FUNDING

Alibaba and Ant Financial Invested Net $500M in Zomato and BigBasket

Alibaba's payment affiliate- Ant Financial has invested $200 million in restaurant discovery and food ordering app Zomato, latest stock exchange filings by Zomato's largest stakeholder- InfoEdge revealed. InfoEdge currently holds 45% stake in Zomato, and informed Bombay Stock Exchange on Thursday that the funding round includes a $50 million secondary share sale to Ant Financials, which will dilute its stake in Zomato to about 30.9% post the capital infusion. The primary and secondary shares of Zomato,value it at $880 million pre-money, according to the statement filings. Pixr8 reported in Semptember that Zomato may receive a $200 million funding from China’s payments giant Ant Financial Services Group, valuing it around $1 billion. “The expected date of completion of sale/disp...

31Jan By AdityaNo Comments

FUNDING

Mumbai Based Web Testing Platform BrowserStack Raises $50 Million Funding

Mumbai based mobile and web testing service platform BrowserStack raised $50 million venture funding from led by venture fund Accel Partners ( Accel US and India). The six-year-old Mumbai-based company now valued more than $400 million. The company was operating on bootstrap model and running profitable from last six years and this is also be the largest series A round for an Indian tech startup. The platform is used by over two million developers in 135 countries. It has more than 25,000 paying customers, including Microsoft, Twitter, and Mastercard. The majority of its customers are based in North America. Founded in 2011 by IIT Bombay alumni Ritesh Arora and Nakul Aggarwal, BrowserStack helps developers test their applications across thousands of operating systems. Accel's Rya...

29Jan By NitishNo Comments

FUNDING

Mutual Fund and SIP based Investment Platform Groww Raises Funding

Bengaluru based Mutual Fund and SIP based investment platform Groww raises an undisclosed seed funding from Y Combinator, Mukesh Bansal (Myntra Founder) and Ankit Nagori, former chief business officer of Flipkart. The company will use the fresh round to expand its technology team and also introduce new products for its customers. “Our long-term vision is to build a modern financial services company out of India, accessible to everyone. That means anything that users get from a bank, should be able to get it faster and cheaper on Groww with 10 times better user experience”, said Lalit Keshre, Co-founder & CEO. Founded by ex-Flipkart executives, Groww leverages data science to make investing simple and transparent. It also hosts several communities that help investors make the right...

26Jan By PriyankaNo Comments

FUNDING

Axis Biosolutions Raises 47 Crore Funding From Ratan Tata & Others

Bengaluru based Axio Biosolutions has raised $7.4 million (about Rs 47 crore) in a Series-B funding round led by Ratan Tata's RNT Capital, Accel Partners and IDG Ventures India. The company will use the funds for geographical and product portfolio expansion. The medtech company that specialises in wound care also gave an exit with 7X returns to the company's first institutional investor, GVFL, an Ahmedabad-based venture capital firm. "We were focused on the Middle East and India but we will branch out now... get into Europe and the US. We are working on another product in wound care. We are also looking into the consumer segment... we want to introduce a product portfolio in that market. This will be both through channel tie ups and direct to consumer", said Axio Founder. Axio ...

Digital lending platform Neogrowth Raised Rs 300 crore

25Jan By AnkitaNo Comments

FUNDING

Digital lending platform Neogrowth Raised Rs 300 crore

Digital lending platform Neogrowth today said it has raised Rs 300 crore funding in a round led by Leapfrog Investments by selling an undisclosed stake. Existing investors including Aspada Investment Company and Quona Capital, through Accion Frontier Inclusion Fund, also participated in the round. The company, founded in 2012, is focused on lending to the small business segment and has now expanded its presence to 21 cities across the country. "India's digital lending space is experiencing massive growth, providing unprecedented opportunity for Neogrowth to apply its pioneering technology approach to enable loans for a rapidly expanding small business merchant segment," co-founder Piyush Khaitan said. Avendus Capital, the deal advisor, said 85 per cent of small businesses in the retai...

24Jan By AdityaNo Comments

FUNDING

Paperflite Secures US$400K Seed Funding Led by The Chennai Angels

SaaS Startup, Paperflite which is on a mission to transform how B2B marketers deliver and measure content marketing has a closed a $400K seed funding round, led by The Chennai Angels, India’s leading angel investing group. Girish Mathrubootham, Founder and CEO of Freshworks, T R Santhanakrishnan, CEO of Datatracks and ex-CFO of Sutherland Global Services, Mithun Sancheti, CEO of Caratlane participated in the round as a part of The Chennai Angels amongst others. “We are excited to join Paperflite to enable them fully harness the rapidly growing demand for the product. With increasing levels of sophistication that buyers expect, Paperflite helps businesses leverage content effectively to create value at every stage of the buying journey and improve sales effectiveness”, said Ajit Chordia w...

IIIT Hyderabad Seed Fund Invests in Rental Management Platform Paymatrix

24Jan By PriyankaNo Comments

FUNDING

IIIT Hyderabad Seed Fund Invests in Rental Management Platform Paymatrix

Property Rental management platform Paymatrix, which streamlines rent and deposit payments and collections by facilitating credit raised seed funding from IIITH. This Hyderabad-based end-to-end digital rent management platform becomes the first startup to be selected and supported by IIITH Seed Fund. Paymatrix enables tenant profiling, rental documentation, rent payment management and risk mitigation for thousands of tenants, landlords and property managers across India. The startup, established in November 2016 has since grown its customer presence into 14+ cities in India and has 4000+ registered tenants and landlords on its platform with more than Rs. 12 crores of rent processed till date. The startups value proposition starts with profiling the right tenant for a landlord u...

Chinese Handset Maker Coolpad Raises $300 Million Funding

18Jan By AnkitaNo Comments

CHINA, FUNDING

Chinese Handset Maker Coolpad Raises $300 Million Funding

Handset maker Coolpad today said it has received fresh investment of $300 million from Power Sun Ventures, which the Shenzhen-based firm will use to expand its capabilities in artificial intelligence. The funding comes after the company separated from Chinese Internet player, LeEco. "Chinese property mogul Chen Hua, Founder and Head, Kingkey Group, is leading the new investment through Power Sun Ventures, a family trust," Coolpad said in a statement. Power Sun is expected to invest USD 300 million in coming years in Coolpad, it added. Coolpad Group CEO Jiang Chao said, "With this new investment, Coolpad aims to shift its focus from being just into mobile business to an AI-focused technology company. We plan to expand this by creating AI focused applications across communication...

Apartment Security App myGate Raises Rs 16Cr

18Jan By PriyankaNo Comments

FUNDING

Apartment Security App myGate Raises Rs 16Cr

Bengaluru based apartment security management solution provider myGate has raised Rs 16 crore funding in a round led by Prime Venture Partners. Founded back in 2016 by Vijay Arisetty, the platform comprises of Android/iOS apps for security guards and residents that digitally logs in the visitors' exits and entries, thereby eliminating the traditional "paper and pen system." The company is planning to revamp the technology its platform uses and strengthen its geographical presence in Pune, Hyderabad and Delhi-NCR. "We are looking at scaling up to 2 million homes across the top 7 cities within the next two years," Arisetty said. The security services market in India is valued approximately at $6 billion, out of which gated-premise security market is worth $2 billion, as per the r...

17Jan By AnkitaNo Comments

FUNDING

Bidgely Closes $27M Series C Funding to Grow India Office

Founded by Indian Institutes of Technology alumni, CEO Abhay Gupta and CTO Vivek Garud, Bidgely announced today that it has closed a $27 million Series C round of financing. The largest round of investment to date for energy disaggregation technology. US based Bidgely started from Silicon Valley have Plug-and-Play incubator in 2011, and the high-growth energytech startup is now leading the way in the convergence of AI and energy use. The company currently has offices in Mountain View, California, Bangalore, India and the Netherlands. Georgian Partners, an investment fund known for its focus on high-growth enterprise software companies that use applied artificial intelligence to disrupt markets, led the oversubscribed round. Returning investors include Khosla Ventures, E.ON, and innog...

15Jan By AdityaNo Comments

FUNDING

Payment Solution Firm Razorpay Raises $20M funding

India's payments solutions firm Razorpay has raised $20 million funding led by Tiger Global and Y Combinator with participation from Matrix Partners. However, company declined to disclose the company valuation post this fundraise. "We will use the funds for our next phase of growth by scaling products and bolstering our technology and expanding to newer markets like South East Asia," said Razorpay CEO & Co-Founder Harshil Mathur. With this funding, Razorpay has raised a total $31.5 million funding until now. It had earlier raised $11.5 million funding from a clutch of investors including Tiger Global, Y Combinator, Matrix Partners and 33 angel investors. MasterCard had also made a strategic investment in Razorpay in June 2016. This announcement comes at a time when global gian...

Lendingkart Raises Rs 30 Cr From Dutch Development Bank

10Jan By PriyankaNo Comments

FUNDING

Lendingkart Raises Rs 30 Cr From Dutch Development Bank

Lendingkart Finance on Tuesday said it has raised Rs 30 crore in non-convertible debentures (NCDs) from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV (FMO), a Dutch development bank that invests in growth and frontier markets. This new influx of debt funds will be used towards growing the loan book and expanding the reach of Lendingkart Finance across SME industries, Lendingkart said in a statement. As of today, Lendingkart Finance has disbursed over 20,000 loans to more than 13,000 SMEs across 23 sectors. "With a committed portfolio of 9.8 billion euros, FMO is one of the larger bilateral private sector development banks globally... This being our first foreign debt raise will open avenues for Lendingkart Finance's future foreign debt funding as well," Lendin...