Tuesday, March 19

FUNDING

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

Infosys Invested Undisclosed Amount in US-based TidalScale
FUNDING

Infosys Invested Undisclosed Amount in US-based TidalScale

Country's second-largest IT firm Infosys today said it has invested an undisclosed amount in US-based TidalScale. The California-headquartered firm's solution collates all physical server resources as if it were running on a single large computer to help clients with large computing problems. TidalScale helps companies draw insights from big data faster, more easily and with greater flexibility at improved costs. "Among our client base, we see a need for inventive and cost-effective approaches to derive business value from big data, and our investment in TidalScale underscores our commitment to our clients to bring innovative new solutions across our platforms and offerings," Infosys Executive Vice-President of Corporate Development and Ventures Ritika Suri said in a statement. ...
O2O Platform Square Yards Raises USD 12 Million Investment From Anil Ambani
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O2O Platform Square Yards Raises USD 12 Million Investment From Anil Ambani

India's largest online to offline (O2O) real estate transaction player Square Yards has raised USD 12 million investment from the Private Equity arm of Anil Ambani led Reliance Group. This is Square Yards' first institutional investment after it had raised USD 11 million from a clutch of HNW investors last year. Founded in 2013, Square Yards is the largest distributor for primary residential real estate in India, and it enjoys a leadership position in the Non Resident Indian (NRI) markets. "With this collaboration, the company will be able to draw on Reliance's extensive experience, particularly in scaling up the business to a higher growth trajectory and creating significant shareholder value in the process. Besides capital, we will also get access to best practices in running l...
OnlineTyari Gets Rs 20 Cr Led By Michael & Susan Dell Foundation
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OnlineTyari Gets Rs 20 Cr Led By Michael & Susan Dell Foundation

Mobile-first test preparation platform, OnlineTyari (OT) has raised Rs 20 crore, led by the Michael and Susan Dell Foundation (MSDF). MSDF made an equity investment of Rs 15 crore (USD 2.1 million) in the company, OnlineTyari said in a statement. OT offers a mobile application that allows highly customised, curated and vernacular test preparation content delivered through very low Internet bandwidths. It offers a full suite of solutions, including entrance tests for public sector units, government jobs and higher education institutes. It has recorded nearly 3.5 million downloads and over 400,000 daily active users. "This investment from MSDF will help OT expand its vernacular offering, widen examination coverage and strengthen its technology and analytics engine," the statement said....
Mumbai Based Car Rental Startup Justride Raises 20 Crore Funding From Y Combinator
FUNDING

Mumbai Based Car Rental Startup Justride Raises 20 Crore Funding From Y Combinator

Mumbai Based Car rental startup JustRide raises 20 Crore (about $3 million) funding from global investors, including Y-Combinator partners. Justride will use funding for expanding the company's car-sharing platform JustConnect and developing Yabber, an IoT device that works on connected car technology and data analytics to analyze the driving skills of the customers. "A vast majority in India do not have access to personal transport, presenting an extensive market for car rentals. The challenge is to build a sustainable car-sharing model to cater to the average urban commuters, while keeping in mind the interests of the car owners, who have a depreciating asset that is their car and does not get any return on it," said Ashwarya Singh, chief executive officer and co-founder, JustRide. ...
Oil India Limited (OIL) Setup Rs 50 Crore Startup Fund For New ideas in Oil & Gas Sector
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Oil India Limited (OIL) Setup Rs 50 Crore Startup Fund For New ideas in Oil & Gas Sector

GUWAHATI: Oil India Limited (OIL) has set up an OIL Startup fund of Rs 50 crore to encourage new "out of the box" ideas related to the oil and gas sector, particularly in the Northeast. The oil exploration major's chairman-cum-managing director Utpal Bora today said in a press conference that the initiative was in line with the Centre's 'Start-up India' initiative. "The OIL Start-Up fund is to encourage students, young entrepreneurs and institutions to come out with out of the box ideas for the benefit of the oil and gas sector that is contributing enormously to the growth of the economy," Bora said. The initiative was to create an ecosystem that was conducive for growth of start-ups in the oil and gas sector, which has a huge scope for application of technology-enabled ideas, he ...
Gurgaon based On Demand Laundry Startup Pickmylaundry Raises Funding
FUNDING

Gurgaon based On Demand Laundry Startup Pickmylaundry Raises Funding

Pickmylaundry, a Gurgaon-based on demand laundry startup has raised $200k in a new funding round from Kedar Lele (a top level executive of a leading FMCG major) and existing investor GHV Accelerator. The startup has raised about $200K and had commitment of another $300K from a couple of angels. The new round of funding will use the newly raised funding in expanding its operations to entire NCR and explore opportunities in other cities. Pickmylaundry will also set up offline stores to reduce the last mile logistics cost, which is at currently around Rs 100 per order. “We will also roll out 24 hours delivery service and overnight service,” said Gaurav Agarwal, Founder, Pickmylaundry. Founded by Gaurav Agarwal, along with Ankur Jain and Samar Sisodia in May 2015, Pickmylaundry had previ...
Delhi Based Food Joint QD’s Has Raised an Undisclosed Funding
FUNDING

Delhi Based Food Joint QD’s Has Raised an Undisclosed Funding

Delhi based food joint QD's has raised an undisclosed amount from Chanana Group of Delhi and is all set to expand its chain of restaurants in the city. The capital will be used for new restaurants and strengthening the brand, the company said in a statement. QD's is a popular food restaurant chain in Delhi, famous for its Indian and Chinese cuisine offerings. Currently it has four outlets across the capital (Laxmi Nagar, Kirti Nagar, Satya Niketan and Hundson Lane). QD's was founded in 2010 by Akhil Malik and his team. It initially opened to the public in Satya Niketan and Hudson Lane, better known as South Campus and North Campus of the Delhi University respectively. Later, two more outlets were launched in Kirti Nagar and Lakshmi Nagar due to its rising popularity. "We have r...
Online Retailer Bonobos Reportedly in Talks to Raise $100 Million Funding
FUNDING

Online Retailer Bonobos Reportedly in Talks to Raise $100 Million Funding

E-commerce menswear company Bonobos is speaking to investors about raising $100 million in a new round of funding that would value the company roughly at half a billion dollars, according to people familiar with the matter. Bonobos is using the new funds to expand its retail footprint, highlighting the crossover that e-commerce companies are making into traditional brick and mortar retail as they push for growth, the sources said on Friday. Bonobos, which is profitable, generates around $150 million in sales and is working with Citigroup to assist with the fundraising, according to the people, who asked not to be named because the matter is private. Citi and Bonobos declined to comment. New York-based Bonobos was founded in 2007 by Stanford business school graduates who wanted ...
Google Capital Rebrands as CapitalG; Discloses Snapchat Investment
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Google Capital Rebrands as CapitalG; Discloses Snapchat Investment

Alphabet's venture capital arm CapitalG, earlier known as Google Capital, disclosed an investment in Snapchat by adding the social networking firm's logo to a page on its investment portfolio website. CapitalG has not made a formal announcement and it was not clear when Google made the investment. The company was not immediately available to comment. Snap, which operates the popular messaging app Snapchat, has hired Morgan Stanley and Goldman Sachs Group as lead underwriters for an initial public offering. The banks were notified last month that they had been awarded one of most coveted and potentially lucrative IPO mandates in recent years, as the Venice, California-based company vies for a $25 billion valuation in the stock market. Snapchat, which lets users send smartphone p...
Zarget Raises $6 Million Series A Funding From Sequoia India
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Zarget Raises $6 Million Series A Funding From Sequoia India

Zarget today announced it has raised $6M Series A round of funding, led by Sequoia India, with participation from current investors Accel, and Matrix Partners. The company plans to use funds to scale its marketing automation products and help small businesses easily optimize their web presence in real-time without any coding skills required. With Zarget’s all-in-one platform, any business owner has an easy and affordable way to become an effective digital marketer and improve performance of their websites instantly, without learning how to code or hiring an expensive IT department. Zarget offers all of the capabilities of competing solutions and more – including A/B testing, dynamic heatmaps, funnel analysis, form analytics, and user polls and feedback – but at 10% of the cost, and it’s...
TalentNext.com Raises $1 Million From Angel Investors
FUNDING

TalentNext.com Raises $1 Million From Angel Investors

TalentNext.com, an online platform that connects talent like actors and screenwriters with recruiters, has secured a second round of funding of USD 1 million from angel investors. Launched in July 2016, the platform focuses on providing recruitment within television, advertising, films and digital content. "Our aim is to support and augment the growth of promising talent across the country. This investment helps us expand to hundreds of cities across India and beyond the typical metropolitan and tier I regions," TalentNext.com CEO Shekhar Purohit said. According to Purohit, the talent discovery and recruitment platform has partnered with over 30 casting directors in Mumbai and has partnerships with industry bigwigs including Dharma Productions, OML, Culture Machine and Balaji Telefil...
Amazon Founder Bezos Invested in Biotechnology Company Unity
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Amazon Founder Bezos Invested in Biotechnology Company Unity

UNITY Biotechnology known as Unity today announced the closing of a $116 million Series B financing from Bezos Expeditions (the investment vehicle of Jeff Bezos) and existing investors WuXi PharmaTech and Mayo Clinic Ventures. ARCH Venture Partners, Baillie Gifford, Fidelity Management and Research Company, Partner Fund Management, Venrock and other investors was also participated in this round. The funding will be used to expand ongoing research programs in cellular senescence and advance the first preclinical programs into human trials. Unity is a privately held biotechnology company creating therapeutics that prevent, halt, or reverse numerous diseases of aging. The company also announced that Keith Leonard, 25-year biotech industry veteran and current executive chairman, will ...