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BlackBuck Raises $7.6M Venture Debt From InnoVen

18Oct By RishabhNo Comments

FUNDING

BlackBuck Raises $7.6M Venture Debt From InnoVen

B2B logistics startup BlackBuck, operated by Zinka Logistics Solutions has raised around Rs 50 crore ($7.6 million) from InnoVen Capital, venture debt arm of Singapore's Temasek. The development will be used to expand its service offerings. “The funds will get ploughed into the growth of the organization, which is typically around people, processes and product. We plan to penetrate deeper... and expand our offering to other services,” said Rajesh Yabaji, co-founder and chief executive at Blackbuck, adding that the firm looked at venture debt as a means to diversify its sources of funding. “For us it was about trying out different sources of capital. At different phases, access to different sources of capital has opened up for us. Venture debt is one of the things we wanted to try. Inn...

18Oct By Press Trust of IndiaNo Comments

FUNDING

BankBazaar Secures $30M Funding From Experian

BankBazaar.com, an online marketplace for financial products, said it has raised $30 million funding, led by credit agency Experian. The company will use the proceeds of the funding to expand its operations in India and overseas markets, strengthen workforce and platform. "Experian is a global leader in credit reporting and information management, and we are very excited to have them on board as a part of our investor group, which includes Amazon, Sequoia, Eight Roads (Fidelity Growth Partners), and Walden International," BankBazaar CEO Adhil Shetty told PTI. The company has raised USD 110 million till date, including the current round. ALSO READ Microsoft Responded Quietly After Detecting Secret Database Hack In 2013 Bharti Airtel Is Selling iPhone 7 at Rs 7,77...

Ready-To-Cook Food Startup Fingerlix Raises $7Mn in a Series B Round

17Oct By RishabhNo Comments

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Ready-To-Cook Food Startup Fingerlix Raises $7Mn in a Series B Round

Run by Maverix Platforms Pvt. Ltd, ready-to-cook food brand Fingerlix, has recently raised $7 million in a Series B funding round led by Accel Partners and its existing investor Zephyr Peacock India. The startup is also planning to launch recipe-based offerings in several centre-of-plate categories. Other than that, it will be utilising the funds to accelerate its growth strategy and expand into newer geographies of Bengaluru, Hyderabad, Chennai and Delhi-NCR. Currently Fingerlix is offering ready-to-cook products such as batters, mixes, curries, lentils and paranthas. It will soon be offering Upma Mix, Biryani Mix and Puran Poli after the funding it raised. “We are delighted to partner with Accel, and further strengthen our association with Zephyr Peacock. We look forward to workin...

NGO Raises $500K To Provide Education To Children In India

17Oct By Press Trust of IndiaNo Comments

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NGO Raises $500K To Provide Education To Children In India

Pratham USA, an Indian non- governmental organisation has raised more than USD 500,000 this year towards providing quality education to underprivileged children in India. At its latest fund raiser in the Washington DC suburb of Virginia, Pratham raised USD 275,000 from about 360 guests. Actor R Madhavan made an impassioned plea with his keynote address underscoring the importance of tangible results when giving back. "Pratham is doing an extraordinary job in making a huge difference in the lives of people, especially children and women in India," Madhavan said. The people who attended the event were visibly moved by Nisha Sisodiya, a young woman from Rajasthan, who bravely told her story of how she overcame an abusive marriage to become a successful entrepreneur after discovering ...

16Oct By Press Trust of IndiaNo Comments

FUNDING

KrazyBee Raised $8 Mn Series A Funding

City based micro-lending platform KrazyBee, primarily focused towards purchase finance, today said it has raised $8 million in a Series A financing, led by Xiaomi Technologies and Shunwei Capital. Others who participated in the investment are E-city Ventures and RK Group and the Series A funding is a mix of equity and debt (majorly equity), the company said in a release. Total composite funding received by KrazyBee till date is USD 13 million that includes a Seed Fund of USD two million and Pre-Series A funding of USD three million. The latest round of funding will be used to strengthen the risk model and algorithm, catering to new market segments and focusing on product diversification and geographical expansion in existing segments, KrazyBee said. "We are actively working towa...

Gurgaon Based RenewBuy Bags $9.2 Mn From Amicus Capital

16Oct By AnkitaNo Comments

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Gurgaon Based RenewBuy Bags $9.2 Mn From Amicus Capital

D2C Consulting Services Pvt. Ltd, which operates online insurance aggregator RenewBuy, has raised an equity fundraising of $9.2 million from Amicus Capital, a mid-market growth capital fund. The capital will be used for expansion of the company to newer geographic locations and addition of new segments like healthcare, accident and term life. Started in 2014, in Gurgaon by former MetLife senior executives, RenewBuy provides real-time quotes from various motor insurance plans. “Given the size of the market, we see huge scope for continued growth and it was important to partner with a strong institutional partner like Amicus Capital who understands our category space and shares the same vision on how to grow the business, said Balachander Sekhar, co-founder, and CEO of RenewBuy.co...

Amazon Infuses $250 Mn In Indian Amazon Seller Services

16Oct By PriyankaNo Comments

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Amazon Infuses $250 Mn In Indian Amazon Seller Services

Amazon.com has infused another amount of $250 million in its Indian based seller operations arm Amazon Seller Services Pvt. Ltd, as per the filings with Registrar of Companies. Singapore-based group entity Amazon Corporate Holdings and Mauritius-based group entity Amazon.com.incs Limited infused this amount in seller's arm. The investment was secured on September 15 this year by allocating 162 crore equity shares with face value of Rs 10 apiece, as per the source VCCircle. The funding comes in the midst of Amazon’s third leg of its festive season sales. RELATED Amazon Studios Chief Roy Price Suspended Following Harassment Allegation While announcing Amazon’s first-quarter results in April, Bezos deemed India as one of the company’s fastest-growing markets. In 2014, the ...

13Oct By RishabhNo Comments

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On-demand Ambulance Service Startup StanPlus Raises $1.1 Mn Seed Funding

Hyderabad based on-demand ambulance service startup announced that it raised an investment of $1.1 million seed funding from Kalaari Capital’s Seed Fund Kstart and INSEAD Angels Asia. The round also saw participation from CM Diamant, a chain of medical centres and hospital in Canada and Africa. The funds will be utilised to increase StanPlus' Advance-Life Support fleet and expand across geographies, innovation and to cover all medical transportation categories in near future. The funding will also be utilised to augment the technology front. "StanPlus’ approach to medical transportation is enterprising," says Muthiah Venkateswaran, Partner at Kstart, a seed fund initiative of Kalaari Capital, one of India’s leading Venture Capital firms. Founded in 2016 by three INSEAD MBA graduates ...

Chaayos Raises $2 Mn From Tiger Global Management

13Oct By RishabhNo Comments

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Chaayos Raises $2 Mn From Tiger Global Management

Chaayos, run by Sunshine Teahouse Pvt Ltd, has raised around $2 million from its existing investor Tiger Global Management in an internal funding round, as per the source Mint. The funds will be utilised to expand tea cafe chain of Sunshine Teahouse, running under the brand name Chaayos. Gurgaon based Chaayos was founded by Nitin Saluja and Raghav Verma in November 2012, and has now set up its own tea cafes in cities- Delhi-NCR, Mumbai, Chandigarh and Karnal. “Chaayos has recently raised funds from its main investor Tiger Global. The funds were raised through a rights issue, which was closed a few weeks ago. Tiger Global invested close to $2 million in the company in the round. A few individuals also participated in the round,” a person familiar with the matter said. In the current...

Ola Confirms $1.1 Bn Fund Raise From Tencent Holdings

11Oct By RishabhNo Comments

FUNDING

Ola Confirms $1.1 Bn Fund Raise From Tencent Holdings

One of India's unicorn, Ola, operated by ANI Technologies Pvt Ltd has confirmed that it has closed a $1.1 billion funding from Tencent Holdings, a leading Chinese internet company. The round also saw participation from its existing investor- SoftBank Group and other new US-based financial investors. Ola also said that it is in advanced talks with existing and another investor to raise additional $1 billion, thus rounding off what may turn out to be a $2 billion funding round. After a billion scale funding received by Flipkart and Paytm, Ola is the third one to receive such massive funding this year. Flipkart leads them by having raised at least $2.8 billion in two separate tranches from SoftBank, Tencent, eBay and Microsoft, followed by Paytm which raised $1.4 billion from SoftBank....

11Oct By PriyankaNo Comments

FUNDING

Artificial Intelligence Startup ParallelDots Raises $1.4 Mn Funding

Artificial Intelligence and deep learning startup ParallelDots has recently raised $1.4 million (around Rs 9.1 crore) in a fresh round of funding from its existing investor Multipoint Capital LLC. Delaware, US and Gurgaon, India based AI startup was founded in January, 2014 by Angam Parashar along with Ankit Narayan Singh and Muktabh Mayank and incubated at TLabs, a startup incubator managed by Times Internet. The newly infused capital will be use by the startup to increase the headcount of its technology team, as well as to support its expanding global footprint. The money will also be spent on general operational expenses. ALSO READ Google Uncovered Russia-Backed Ads on YouTube, Gmail : Source ParallelDots earlier raised a funding of $600K from Multipoint...

10Oct By PriyankaNo Comments

FUNDING

Virtual and Augmented Reality Startup GridRaster Bags $2 Mn Seed Funding

Palo Alto, California and Bengaluru based startup GridRaster, bagged a seed funding of $2 million from a clutch of investors including Exfinity Ventures, Lumia Capital, Pipeline Capital, NexStar Partners, Unshackled Ventures and Explorer Group. The startup works on enabling high-end virtual and augmented reality experiences on mobile devices, using multiple stack approach. The company plans to utilize the fund in the development of their product and its marketing. The USP of the startup is its ability to host high-quality graphics, around 10 times better, the startup claims. GridRaster claims it solves this problem by hosting the underlying infrastructure on the cloud and managing loads across servers independently. This helps to optimize VR/AR content within the available bandwid...