We have again come up with the top five funding activities that took place this week. Funding is one of the most important steps in the growth of a business.
Therefore, every week, we throw light on the important funding activities. This week was very active in terms of funding process and the company that raised the highest amount of funds was Brazil based technology conglomerate known as Movile.
Lets move forward and know more about these funding activities:
1) Movile
A Brazil based technology conglomerate known as Movile has just raised funds amounting to $400 million. This round was led by existing investors including Naspers and Innova Capital.
The funds have basically been raised for its iFood subsidiary. The company was founded by chief executive officer Fabricio Bloisi which began as a digital content studio for mobile device and now has grown into a mobile services and content empire with aspirations of reaching 1 billion people.
The company claimed to have estimated revenues over $240 million and over 150 million monthly active users. iFood alone recorded 10.4 million delivery orders for the month of October.
2) ServiceTitan
California based service management software company ServiceTitan that helps leading home services businesses generate more leads and close more sales has secured funds amounting to $165 million in Series D funding round.
This round was led by Index Ventures. Fresh investors such as New backers Dragoneer and T. Rowe Price also participated in the financing round along with existing investors Battery Ventures, Bessemer Venture Partners and ICONIQ Capital.
The company claims to have had double subscription revenues this year, with some 2,500 customers on board.
3) Simple Habit
US based five-minute meditation app Simple Habit has reportedly secured an amount of $10 million in Series A funding round. This round was led by Silicon Valley-based venture capital firm Foundation Capital. With this, the developer’s total funding has reached up to $12.5 million.
Prior to this, Simple Habit previously raised $2.8 million from seed investors. Foundation Capital was also an investor in the initial seed round, which included Y Combinator, NEA, Drew Houston, CEO of Dropbox, and Josh Reeves, CEO of Gusto.
4) Perpule
An omni-channel retail tech startup known as Perpule has reportedly raised $4.7 million in a Series A funding round. The particular round was led by Prime Venture Partners, Kalaari Capital and Venture Highway.
The company provides consumers with a self checkout option at retail outlets, intends to use the funds for expansion into more outlets across 10 cities in the next year.
The app allows customers to discover items, scan barcodes, get offer and pricing information for the products and the option to checkout and pay.
5) WakeCap
A construction technology company based in UAE known as WakeCap has secured $1.6 million in seed funding round. The particular round was led by a group of global investors including Consolidated Contractor Company (CCC), Graphene Ventures, Abunayyan Holding and Inspire Ventures Arabia, SOSV, startAD Seed and SeedCo Capital.
The company is planning to use these funds to develop the product and expand in every aspect, majorly in terms of their customers.