FUNDING | Pixr8 News

14Jul By RishabhNo Comments

FUNDING

ShareChat, India’s First Vernacular Social Network, Raises $1.3 million Seed Funding

Bengaluru-based ShareChat, a vernacular social network received funding of $1.35 million from SAIF Partners. ShareChat was also selected for the second batch of the Google's Launchpad accelerator in Mountain View, California, along with five other Indian startups. The funds will be used for ramping up its tech infrastructure to cater to its constantly growing user base and to reach out to more people across India with a variety of content formats. Founded in October 2015, by IITK Alumni Farid Ahsan, Bhanu Singh and Ankush Sachdeva, ShareChat has built a first-of-its-kind social networking platform for India's vernacular language users, available in four Indian languages Hindi, Marathi, Malayalam and Telugu. The app has hit 1.3 million downloads out of which around 500,000 are a...

Piramal Groups Chairman Invested In Chennai-based Utoo

12Jul By RishabhNo Comments

FUNDING

Piramal Groups Chairman Invested In Chennai-based Utoo

The Chairmam of Piramal Groups has bought a 'marginal' stake in Chennai-based cab aggregator Utoo, the company's promoter C Sivasankaran said on Monday. Chennai-bases Utoo was launched just over a month ago to compete against Ola and Uber, has been valued at Rs 1,000 crore, Sivasankaran, a former owner of telecom firm Aircel, said. The company has so far received Rs 74 crore from Sivasankaran's friends and family. It will open investment talks with venture companies and hedge funds for raising about Rs 2,000 crore once it achieves the milestone of one-lakh rides a day in eight cities. This marks the first investment of Ajay Piramal in any tech based cab aggregator startup. Sivasankaran had applied for bankruptcy protection in Seychelles in 2014 following a financial claim by Bahr...

Management Tech Startup SirionLabs Raises $12.25 Million From Sequoia, And Others

12Jul By RishabhNo Comments

FUNDING

Management Tech Startup SirionLabs Raises $12.25 Million From Sequoia, And Others

SirionLabs, a startup that provides supplier management technology products has recently raised $12.25 million (about Rs.85 crore) in a Series B round of funding led by existing investor Sequoia India, a top company executive said. The funding round also saw the participation of QualGro Asean Fund and Canopy Ventures. SirionLabs was founded by Ajay Agrawal in 2012 and helps large enterprises manage outsourcing and procurement services. “There has been a tremendous growth in strategic outsourcing in the recent years and most large manufacturer of goods have started offering their goods more as a service. SirionLabs provides buyers of these managed services with software monitors their relationship with the suppliers,” said Agarwal. The funds will be used to support expansion and R&...

11Jul By RishabhNo Comments

FUNDING

IvyCap Ventures Backed Purplle To Close $6 Million Series-B Round Funding

Purplle, an online marketplace, backed by IvyCap Ventures; for beauty products, spa and salon services, has closed a Series-B round of around $6 million with participation from JSW Ventures, existing investors and another investor who's likely to join in. The company will use some part of the capital to set up a warehouse in Bengaluru to serve the Southern market which makes up 15 per cent of its annual GMV of Rs 150 crore. "We will continue to be a marketplace as it is very difficult to predict which SKUs do well in the beauty segment. Our focus will be on enabling sellers who stock upto 15 days inventory with us in our warehouses for insight on price elasticity and sales," says Manish Taneja, cofounder of Purplle.com. He adds that the platform will grow its beauty services business ...

Whatsapp Co-founder Invested In Delhi-based Startup

11Jul By RishabhNo Comments

FUNDING

Whatsapp Co-founder Invested In Delhi-based Startup

Delhi-based Trak N Tell, a car tracking telematics solution startup has recently raised an undisclosed amount of funding from a group of investors, led by Whatsapp co-founder Brian Acton. This is one of the major investment in any Indian startup involving a high profile Silicon Valley's entrepreneur. While the terms of the Series-A round were not disclosed, Acton, along with two other investors, whose names have also not been revealed, are believed to have pumped in about $3.5 million (Rs 23.3 crore) in the nine-year-old venture. "We are very pleased to have Brian on board, and he's been of tremendous help in terms of strategising, and planning for the company's next stage of growth," Pranshu Gupta, chief executive of Trak N Tell, said in a statement. Founded by Pranshu Gupta, a syste...

LatestOne.com To Invest Rs 15 Crore To Strengthen Its Customer Base

10Jul By RishabhNo Comments

FUNDING

LatestOne.com To Invest Rs 15 Crore To Strengthen Its Customer Base

LatestOne.com, a tech and mobile accessory retailer is planning to invest Rs 15 crore to double its customer base and improve operations. Last year in December Latestone.com had raised a total funding of Rs 50 crore out of which Rs 20 crore was from Palred Technologies Limited (PTL). The company showed great potential after its launch in June 2014 by Reddy. Now with this investment, the company plans to open over 100 franchise-based kiosks in malls over the next few years, a senior executive said. "We are looking to invest Rs 15 crore into strengthening our operations and looking to double our customers to 2 million by the end of the fiscal," Palem Srikanth Reddy, Chairman of Palred Technologies said. LatestOne.com has done 1 million successful deliveries with a customer base of 1.5 m...

Reliance Jio Raises Rs 2,000Cr Through Electronic Bidding Platform (EBP)

7Jul By RishabhNo Comments

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Reliance Jio Raises Rs 2,000Cr Through Electronic Bidding Platform (EBP)

Reliance Jio Infocomm Ltd. today raised Rs 2,000 crore through issuance of non-convertible debentures on the BSEs new platform and the proceeds would be utilised for roll out of its digital services business. The issue received bids worth over Rs 3,500 crore. The five-year debentures will bear a coupon of 8.32% per annum. "The proceeds of the issuance shall be utilised by Reliance Jio Infocomm Ltd for rolling out a state-of-the-art digital services business in India," it said. Reliance Jio said it is the first non-financial company to raise funds digitally through an electronic bidding platform (EBP). “This is also the largest debt issuance in the Indian market by any issuer since the electronic bidding platform has been mandated by Securities and Exchange Board of India (Sebi) for pr...

5Jul By NitishNo Comments

FUNDING

Fintech Startup NeoGrowth Raises $35mn

Fintech startup NeoGrowth has raised USD 35 million (about Rs 225 crore) of equity from IIFL Asset Management and existing investors, including Accion Frontier Inclusion Fund, managed by Quona Capital. A significant portion of the equity was raised in the current round and other existing investors ? Omidyar Network, Aspada Investments and Khosla Impact ? also participated in the funding, IIFL said in a statement here. NeoGrowth will use the funds to help small retailers, including qualified borrowers with little or no credit history, access credit in the country, it said. Using a data and technology-driven approach, the company provides small and mid-sized retail enterprises with flexible, innovative loan products that are secured against retailers future credit card and debit sal...

Monsanto, Microsoft to Invest in Agricultural Technology in Brazil

5Jul By reutersNo Comments

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Monsanto, Microsoft to Invest in Agricultural Technology in Brazil

U.S. biotech company Monsanto Co and Microsoft Corp announced on Monday a partnership to invest in agricultural technology startups in Brazil. Monsanto will join a Brazilian investment fund with up to 300 million reais ($92 million), managed by Microsoft, evaluating ideas for new digital tools to be applied to agricultural production in the country, executives said. Selected ideas will receive initial funding of up to 1.5 million reais ($459,000) for early development. Project owners will have the option to pay back the investment after three years or convert the money into equity. "We want to foster new startups in the agricultural sector. There is a vast area for research and development," Rodrigo Santos, head of Monsanto in Latin America, told reporters on the sidelines of the ...

4Jul By RishabhNo Comments

FUNDING

Former Flipkart Executives’ CureFit Raises $15 million Funding

CureFit, a healthcare and fitness start-up launched by former Flipkart executives Mukesh Bansal and Ankit Nagori, has recently raised a $15 million Series A funding from Kalaari Capital, Accel Partners and IDG Ventures, which is one of the largest early rounds of funding ever by an Indian start-up. (more…)

Aramex Invested In Last Mile Mobile-based Companies Grab.in & Logisure

4Jul By RishabhNo Comments

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Aramex Invested In Last Mile Mobile-based Companies Grab.in & Logisure

Aramex, a leading global provider of comprehensive logistics and transportation solutions has recently invested in last mile mobile-based companies Grab.in and Logisure to strengthen its last-mile delivery service in the category of e-commerce in India. The company has committed to invest Rs 20 crore in Zomato backed last-mile delivery company Grab a Grub, which does on-demand hyperlocal deliveries as well as first mile and reverse logistics. It's services are spread across 10 cities. Currently it is working with Snapdeal, Zomato, McDonalds, Pantaloons and Grofers among others. The investment in Logisure, which has developed a platform for intelligent urban freight management, has not yet been disclosed. Dubai-based Aramex is now focusing to expand its outreach to e-commerce section a...

2Jul By PriyankaNo Comments

FUNDING

Venture Catalysts Raises $500k Funding From Zaffiro Ventures

Valued in a groundbreaking development for the Indian entrepreneurial landscape, Venture Catalysts has secured $500000 amount from Zaffiro Ventures. VCats was valued at Rs. 40 crore during the investment process, marking a major landmark in the six months of its operations and underlining its position as the fastest growing seed investment platform in the country. "Our aim, ever since our launch, has been to support and augment the growth of promising start-ups across the country. The investment from Zaffiro will not only help us in expanding to multiple cities across India and promote entrepreneurship beyond the metropolitan and tier-I geographies, but will also allow us to access industry insights and business acumen gained by individuals such as Revathi Roy and Jagdish Gothi. ...