Monday, May 27

Tag: Accel Partners

HomeLane raises $8 Million in funding
FUNDING

HomeLane raises $8 Million in funding

Home interiors company Homelane raises USD 8 million in a bridge funding round from Stride Ventures and existing investors. Bridge funding is a form of intermediate funding intended to cover a business short-term expenses until long-term funding is secured. Stride Ventures led this round, participating through debt funding of $3 million in the company, a statement said. Existing investors Accel Partners, Sequoia Capital, Evolvence India, and JSW Ventures also participated, infusing another $5 million in equity, it added. With this round, HomeLane''s total fund-raising has crossed USD 54 million (Rs 370 crore) in the last six years. "Our mission is to make home interiors easy for the world, and this hasn't changed during the pandemic. Virtual meetings, powered by our 3D desi...
Metro Bikes Raises $12.2 Million Funding From Sequoia India and Accel Partners
FUNDING

Metro Bikes Raises $12.2 Million Funding From Sequoia India and Accel Partners

Bengaluru based Scooter Sharing platform Metro Bikes, renamed now ‘Bounce’, has raised $12.2 million series A funding led by Sequoia India and Accel Partners. Raghunandan G, Founder of TaxiForSure, and other angel investors have also participated in this round. The funding will use to scale up its network of 2,000 scooters in Bengaluru to 30,000 in the next 10 months; make the delivery model robust through technology innovations, double its headcount and develop a pan India presence across major cities by 2020, a top executive told BusinessLine. Earlier, the bike sharing company raises $700,000 in March 2015 from Captain Prashant Priya, a serial entrepreneur and $1.5 million in October 2017 from LG Chandrasekar, co-founder, Sutures India. Bounce also operates a network of 500 s...
SigTuple rasies $19 Mn Funding From Accel and IDG Ventures
FUNDING

SigTuple rasies $19 Mn Funding From Accel and IDG Ventures

SigTuple, an AI-based healthcare startup has raised 19 million i.e approximately Rs. 130 crores in a Series B round led by IDG Ventures and Accel Partners. The investment round also saw participation from pi Ventures, Flipkart’s executive chairman Binny Bansal, Endiya Partners, Axilor Ventures. The Bengaluru-based company plans to use the funds in the expansion of assembly and distribution of AI100 along with research and development of new solutions that can boost its reach and market presence. Rohit Kumar Pandey, chief executive at SigTuple said, The major chunk (of the money) will go into setting up a manufacturing pipeline so that we can put more devices in the market. We have applied for US FDA and CE certification. Once we go through the stage, it will require more clinical tr...
Bike Rental Platform WickedRide raises $9.1 Mn Funding
FUNDING

Bike Rental Platform WickedRide raises $9.1 Mn Funding

Online Bike and Scooter Rental Platform Wickedride Adventures Services Pvt Ltd have raised Rs. 62.13 crore ( $9.1 million) in a funding round led by Accel Partners and Sequoia Capital. With the latest round in place, company's valuation has roughly reached Rs. 130-132 crore. As per Bengaluru based filings with Ministry of Corporate Affairs, Raghunandan Gangappa- co-founder of TaxiForSure that later got acquired by Ola also participated in the round. Founded in 2014 by Vivekanand Hallekere along with Varun Agni and Anil G, WickedRide has two different entities for its online scooter and bike rental ventures. It focuses in on bringing the best of motorcycling on one platform and make it easily accessible. The platform currently offers services in 10 cities including Bengaluru, Ja...
Income Tax Department Begins Flipkart-Walmart Deal Audit
News

Income Tax Department Begins Flipkart-Walmart Deal Audit

The biggest acquisition in e-commerce that shook up the world-the Flipkart-Walmart is now being examined by the Income Tax departments in India where the tax body has sent queries to Flipkart-Walmart regarding the $16 Bn worth deal. While Flipkart has responded to the details of the acquisition, Walmart's explanation is still awaited. The acquisition deal was sealed earlier on 9 May where Walmart bought 77% stake in Flipkart for a whopping $16 billion. Prior to the official deal announcement, Income tax authorities had asked Flipkart to furnish the details of the transaction to examine the tax implications of the transaction for the government. It is important to note that transaction details are crucial for the income tax department to ascertain tax liability since many investors...
Walmart Approaches CCI For Approval Over Flipkart Acquisition
News

Walmart Approaches CCI For Approval Over Flipkart Acquisition

After acquiring Indian e-commerce unicorn Flipkart, US giant Walmart Inc. has finally sought approval of India's Anti-Trust Regulator for its mega $16 billion acquisition. According to a Regulatory Filing sent to Competition Commission of India (CCI), Walmart has said that its buyout of Flipkart does not result in competition concerns as the broader retail market in India remains unaffected by the deal. Walmart has reported CCI that Flipkart is a Singapore based entity and the deal has been done through its subsidiary Walmart International Holdings. Moreover, Since Flipkart India is primarily engaged in the business of wholesale cash and carry goods, its acquisition will only affect B2B markets, Walmart added. Notably, Walmart has been facing resistance by tough regulations that p...
Accel Partners Invests Rs 40 Crore in Online Logistics Startup
FUNDING

Accel Partners Invests Rs 40 Crore in Online Logistics Startup

Accel Partners, a private equity investment firm has invested about Rs 40 crore in online freight logistics firm Cogoport. In a press release, the Cogoport said, "it has secured Series A funding round from Accel Partners, however, the company did not disclose the amount it has raised but according to our sources the amount is around 40 crore." "The fund will enable Cogoport to invest in developing new products and fuel business growth by expanding globally and increase its footprint in the domestic market," the statement said. Cogoport is an online international freight exchange currently offering price discovery and booking using a data-driven technology solution. Incorporated in May 2016, Cogoport provides end-to-end global freight solutions for importers and exporters. The b...
Bluestone Raises Rs 10 Crore Funding
FUNDING

Bluestone Raises Rs 10 Crore Funding

Bluestone, the online jewelry commerce, received a funding of Rs8.2 crore from OBOR Capital and Rs3 crore from Kalaari Capital, according to the latest MCA filings. The company appears to have raise an additional funds of $6 million from existing investors as well. The filings also report that the company earned about Rs1 crore from Gaurav Deepak of Avendus Capital and Rs1.6 crore from IIFL. BlueStone was established in 2011 and quickly ascended to become India’s lending destination for high quality fine jewelry. The company aims at wishes to revolutionize the jewelry market of India with primordial focus on craftsmanship, quality and customer service. The company boasts a portfolio of 5000 unique designs which were crafted with care to provide flexibility, purity and clarity. Sin...
Green Tech Startup Raises $1.5 Million From Accel Partners
FUNDING

Green Tech Startup Raises $1.5 Million From Accel Partners

Green Tech Startup Facilio raised a funding round of around $1.5 million from Accel Partners. Founded in March 2017 by former Zoho Executives Prabhu Ramachandra, Rajavel Subramanian and Yogendra Babu, the firm runs facilities on autopilot from maintenance to sustainability; meaning that it manages to build operations in real time across a collection of buildings through an integrated facilities management software that makes use of IoT and machine learning. They combine the flexibility facility managers that technicians want with the receptiveness and experience occupants need. By turning an agglomeration of data from different streams into one dashboard, they are able to draw useful interpretations from the data. “Our product is for companies that own and operate multiple buildings. 2...
Funding Facebook : From Harvard Dorm Room to $500 Bn Company
Story

Funding Facebook : From Harvard Dorm Room to $500 Bn Company

What started in a dorm room of Harvard University has totally changed the outlook of people all across the world on how they socialize. We are talking about none other than Facebook or "TheFacebook" as it was called back then! Facebook was founded by Mark Zuckerberg and his college roommate and fellow Harvard University student Eduardo Saverin. Initially the website's membership was kept limited only to Harvard University students, which soon was expanded to other colleges in Bosto, the Ivy League and gradually to all universities of the US and Canada. By September 2006, it was open for everyone all across the world with a valid email address, aged 13+.   The idea of 'Facebook' Zuck got the idea of Facebook from his previous website- FaceMash, which he launched while he wa...
Tea Selling Startup Teabox Raises Fresh Funding From Ratan Tata, Others
FUNDING

Tea Selling Startup Teabox Raises Fresh Funding From Ratan Tata, Others

Siliguri and Bengalure based online premium tea selling startup Teabox raised $7 million in a series B fresh round of funding from a clutch of investors including Accel Partners and Ratan Tata. The startup will use the funding to expand its geographic reach, and further penetrate in US. “Online and offline expansion will be a major area of focus for us. The US continues to be our biggest market, generating about 40% of our overall revenues, but we’ve also seen demand from India pick up considerably over the past year or so,” said Dugar. Teabox had earlier raised funding of $6 million in 2015 and the current round may further increase to $10 million as the talks still continue with the investors, a financial daily reported. Teabox currently ships tea to over 100 countries from its ...
HomeLane Acquires Online Furniture Marketplace Capricoast For $13.8M
ACQUISITION

HomeLane Acquires Online Furniture Marketplace Capricoast For $13.8M

Bangalore based online furniture and home furnishing startup HomeLane has recently acquired modular home furniture marketplace Capricoast for $13.8 million. This acquisition will grant HomeLane to leverage tech stack of Capricoast to provide customers a more streamlined and better home designing experience. As part of the acquisition deal, the entire team of Capricoast comprising of 120 members will become part of HomeLane while its founder and CEO Jawad Ayaz will be joining the board of directors. Talking about the move, HomeLane co-founder and CEO Srikanth Iyer said, “This is a coming together of two big players in home design with complementary strengths and expertise. The Capricoast team brings with them a powerful technology back-end that will further strengthen our product offeri...