Without funding, an entrepreneur cannot think of taking forward or flourishing his business, and thus, funding activity is a major part of any business.
With this step, the business grows and flourishes to a great extent. This week was quite eventful in terms of funding activities and let us have a look on the top five funding activities of the week.
DesignCafe
Online interior design platform DesignCafe has raised funds amounting to Rs 200-crore equity-financing round. This round was led by home-grown private equity firm WestBridge Capital.
The transaction marks a rare venture capital-style investment by WestBridge which has so far largely preferred to place public market-focused bets. Funds from the investment will be used by DesignCafe to expand its footprints in the country.
The financing round also saw participation from existing investor Fireside Ventures, the early-stage, consumer-focused venture set up by former Helion Venture Advisors Partners’ managing director Kanwaljit Singh. Boutique investment bank Sprout Capital acted as the exclusive advisor to the deal.
Ather Energy
Ather Energy is reportedly planning to raise an amount of Rs 200 crore – Rs 300 crore over the next year to expand to new markets and further its product development plans.
Ather Energy had launched two scooters, Ather 450 and Ather 340, in June this year and had begun deliveries of Ather 450 in Bengaluru in September this year. This launch came nearly two years after it was first unveiled in February 2016.
The funds raised will also likely be used to expand its manufacturing capacity. The Bengaluru-based firm had started the commercial production of its scooters in July this year.
Bloom Hotels
Bloom Hotels has reportedly raised funds amounting to Rs 100 crore in a fresh round of funding. This round was led by Samena Capital, taking the principal investment group’s stake in the company to 45%.
Samena Capital had earlier invested Rs 100 crore in Bloom Hotels for 35% stake in the company in April this year.
The company is targeting signing a 100 hotels within the next 18 to 24 months as part of its first phase growth, it added. The additional capital will be utilised to complete the first stage of growth cycle and continue to focus on quality sites and developers, the statement said.
TrueFacet
New-York based TrueFacet that sells pre-owned authenticated watches and jewellery has reportedly raised funds amounting to $10 million in a fresh funding round. This round was led by partner Jason Stoffer, who also happens to sit on the board of Dolls Kill, an edgy clothing marketplace.
The company claims to have more than 40,000 watches and 55,000 pieces of pre-owned authenticated watches and jewelry for sale at its site, and that has more recently begun offering pre-owned timepieces directly through brands like Fendi Timepieces, Raymond Weil and Roberto Coin.
HelloBike
Alibaba-backed Hellobikewhich is one of the largest bike-sharing apps announced that it raised “millions of funds” in a new funding round. The company declined to reveal details on the funding amount and use of the proceeds.
The round was led by Ant Financial, the financial affiliate of Alibaba and maker behind digital wallet Alipay, and Primavera Capital, a Chinese investment firm that’s backed other mobility startups including electric automaker Xpeng and car trading platform Souche.
The fledgling startup also got SoftBank interested in shelling out an investment, The Information reported in November. The fresh capital arrived about a year after it secured $350 million from investors including Ant Financial.