FUNDING | Pixr8 News

14Oct By NitishNo Comments

FUNDING

B2B Marketplace For Leather Products ShoeKonnect Raises Funding From IAN

ShoeKonnect is a B2B commerce mobile application designed specifically to cater to the needs of the footwear industry. It has raised an undisclosed amount of angel funding from Indian Angel Network. The round of investment was led by Sahil Kejriwal on behalf of IAN. He will be joining the company board to monitor the team. Siddharth Vij, CEO & co-founder of ShoeKonnect said, “We understand that there lies a huge gap among producers and buyers in the market. A gap that restricts the manufacturers from increasing their customer base and sales volumes and retailers from getting better variety and quality of products. With ShoeKonnect, we aim to bridge this existing gap by simplifying and enhancing trade possibilities for these players in different industries.” The company is a produ...

14Oct By NitishNo Comments

FUNDING

Indian Parenting Website “Kidsstoppress.com” Raises Undisclosed Angel Funding

Mumbai-based parenting startup Kidsstoppress has raised an undisclosed funding amount from angel investors. Founder chief executive of IIFL Wealth Karan Bhagat also participated in the investment. The company was founded by Mansi Zaveri in 2012. Currently, it offers its services across Mumbai, Delhi, Bengaluru, Chennai, Hyderabad and Pune. Mansi Zaveri, founder, KidsStopPress, said, “The parenting and baby care segment in India is a very large opportunity and is worth close to $25 billion. At the same time, it is also fragmented and very local in terms of language, culture and geography. At Kidsstoppress.com, we have built the groundwork to address this large opportunity across segments including content and market place." KidsStopPress produces both proprietary and secondary con...

Saudi Arabia, SoftBank Plan $100 Billion Tech Fund

14Oct By reutersNo Comments

FUNDING

Saudi Arabia, SoftBank Plan $100 Billion Tech Fund

Saudi Arabia and Japan's SoftBank Group said they will create a technology investment fund that could grow as large as $100 billion, aiming to create one of the world's largest private equity funds. The plan is part of a series of dramatic business initiatives launched by Riyadh this year as Saudi Arabia, its economy hurt by low oil prices, deploys huge financial reserves in an effort to move into non-oil industries. SoftBank's founder and chairman Masayoshi Son, who has built his company into a $68 billion telecommunications and tech investment behemoth from a $50,000 start-up, has been seeking to expand in new areas. The Public Investment Fund (PIF), Saudi Arabia's top sovereign wealth fund, is set to be the lead investment partner and may invest up to $45 billion over the next ...

14Oct By NitishNo Comments

FUNDING

Bengaluru Based IndianMoney.com Raises Funding From Media Conglomerate BCCL

IndianMoney.com, India's largest financial education company promoted by Suvision Holdings Pvt Ltd has raised fresh round of funding from media conglomerate Bennett, Coleman & Co Ltd (BCCL). Commenting on the investment Mr. C S Sudheer, Founder & CEO of IndianMoney.com quoted, "Investment of BCCL is catalytic to make inroads into the unchartered territory. It strengthens our consumer base led by the 360-degree presence of BCCL across the media spectrum. This association will add new wings to the ambition of IndianMoney.com to make India a financially literate country." The company plans to utilize these funds to enhance its reach and acquire new consumers, and launch new personal finance education series to become synonymous with financial education for common man in India. ...

KKR Backed Emerald Media Invests $50mn in Video Platform YuppTV

11Oct By AdityaNo Comments

FUNDING

KKR Backed Emerald Media Invests $50mn in Video Platform YuppTV

Emerald Media, a Pan-Asian platform established by leading global investment firm KKR for investing in the media and entertainment sector today announced that it has acquired a significant minority stake in YuppTV for US$50mn. YuppTV is one of the world’s leading over-the-top (OTT) video platforms for South Asian content offering live TV, catch-up TV and movies on-demand in 14 languages across the globe. The growth capital will help company to further its global footprint, expand its content library through original productions and acquisitions, and rapidly grow its paid subscriber base. Headquartered in Atlanta, Georgia, YuppTV is a leading Internet Pay TV platform for South Asians, reaching more than 400 million households across the world. It also have more than 5 million monthly ...

10Oct By AnkitaNo Comments

FUNDING

Machine-learning Platform for Healthcare DocSynk Closes $1 Million Seed Funding

DocSynk's new machine-learning platform uses data science to put people in control of their healthcare, driving productivity and reducing costs for employers, insurers, and doctors. Finding doctors, scheduling appointments, keeping on top of insurance, and complying with wellness and treatment plans are challenges we all have to face. It's a lot to keep track of. DocSynk is working to make it all much easier with a smarter, simpler app that uses the latest in machine learning and data science to deal with the complexity. Today, the company announced that it closed a $1 million seed funding round led by Hyderabad-based Naya Ventures. "DocSynk's mission of bringing transformation in patient engagement is sorely needed in US healthcare. Organizations of every size are looking for DocSyn...

Facebook Has Invested $250M in VR “Oculus” To Make it More Social

7Oct By AnkitaNo Comments

FUNDING

Facebook Has Invested $250M in VR “Oculus” To Make it More Social

Zuckerberg said his company has invested $250 million to back developers building new games and other virtual-reality programs for Oculus, and is vowing to double that amount. The investment will make virtual reality more social as the industry gets more crowded. Facebook's Oculus division is hoping to distinguish its offerings from other leading tech companies whose selling their VR products. At an event on Thursday, the company announced a long-awaited shipping date - Dec. 6 - for its Oculus Touch hand controllers. In a two-hour presentation, Facebook CEO Mark Zuckerberg, meanwhile, donned one of those headsets for an onstage demonstration in which he visited Mars, played virtual cards with two other people, then made a video call to his wife while standing in a digital simulation ...

5Oct By AnkitaNo Comments

FUNDING

Pune Based Muhurtmaza Raises Funding From HNI investor

Pune based Muhurtmaza, an online puja booking service has raised an undisclosed amount of seed funding from a US based HNI investor. Muhurtmaza currently operates in Pune, Bengaluru and Hyderabad among a few other cities, and will focus on increasing consumer awareness and strengthening its supply chain over the next few months using this funding round. As per the company they are the first company in this space to have received funding so far. On Muhurtmaza customers can book a priest online, depending on specific rituals and samagri required to conduct the ritual. Sowale told Pixr8 "We currently have 300 pandits on our platform and the plan is to scale this up to 600 by January". According to various estimates, this market segment is pegged at about $30bn and is almost entirely uno...

Ratan Tata Backed Moglix Raises Rs. 28 Crore From Accel Partners, Jungle Ventures and SeedPlus

4Oct By AdityaNo Comments

FUNDING

Ratan Tata Backed Moglix Raises Rs. 28 Crore From Accel Partners, Jungle Ventures and SeedPlus

Leading B2B e-commerce company Moglix specializing in procurement of industrial products has announced that it has raised Rs. 28 crore in Series A round of funding led by Accel Partners with participation from Jungle Ventures and SeedPlus. Founded in August 2015, Moglix is focused on technologically disrupting the B2B Industrial products space for suppliers and buyers across the globe. Moglix has raised Pre-Series A funding from Accel Partners and Jungle Ventures in October 2015 and an undisclosed financial investment in the company by Ratan Tata in February 2016. Moglix caters to over 20,000+ SME buyers and 100+ large manufacturing houses through their platform. The funds will be deployed to expand operational footprint across major industrial hubs, increase the SME customer base by...

4Oct By NitishNo Comments

FUNDING

Global Payments Company Remitr Raises $1 Million Funding From Kunal Shah & Vijay Shekhar Sharma

MUMBAI, OCTOBER 4: Global payments company Remitr has raised around $1 million from a clutch of well-known global start-up founders and angel investors including Paytm founder Vijay Shekhar Sharma, FreeCharge’s Kunal Shah and Sandeep Tandon, GOQii founder Vishal Gondal, and Seedfund founder Pravin Gandhi. Founded in 2015 by Kanchan Kumar, Sandeep Jhingran and Sandeep Todi, Remitr’s platform routes end-to-end payments using its proprietary payment network, which integrates with clearing systems and third-party payment networks in various countries. There are a multitude of processing layers involved in cross-border payments, and each layer adds its own costs, coupled with exhaustive compliance requirements, making it expensive and complex. Remitr helps connects all the dots by ensuring c...

4Oct By reutersNo Comments

FUNDING

Juno, The Uber Rival Which Offers Equity to Drivers, Looks to Raise $50M Funding

Juno, a startup looking to attract drivers from bigger ride-sharing rivals such as Uber by offering them its own stock, is seeking $50 million in its biggest fundraising round to date, according to a person familiar with the matter. Investors have poured more than $28 billion into the ride services sector over the past decade, propelling growth at Uber, Lyft, China's Didi Chuxing and a host of smaller upstarts, such as Gett. Economists have said there may be scope for even more competition, because ride-sharing services are relatively cheap to start, depend on contract labour with no inherent loyalty or specialized skills, and have free apps that can be downloaded in seconds. Juno is working with investment bank Mizuho Financial Group Inc to find investors, according to the person...

4Oct By NitishNo Comments

FUNDING

Food Ordering Startup InnerChef Raises $2.5 million Funding

InnerChef, Gurugram-based food ordering platform has raised $2.5 million funding led by Japanese early-stage fund Mistletoe with participation from Singapore-based M&S Partners and existing investors. Prior to this, InnerChef had raised around Rs 11 crore funding from a clutch of investors including Paytm's Vijay Shekhar Sharma, redBus co-founder Phanindra Sama, Shaadi.com's Anupam Mittal and GOQii founder Vishal Gondal among others. Anand Chandrasekaran, Facebook Messenger's head of platform/partnerships and formerly the chief product officer at Snapdeal, is also an investor in InnerChef. The company plans to use the funds raised to focus on its top markets - Delhi, Mumbai, Bengaluru, and Hyderabad. "We plan to invest the money in building a brand. We have started adding more k...