Monday, December 23

Tag: Accel Partners

BlackBuck Raises $7.6M Venture Debt From InnoVen
18Oct By RishabhNo Comments
FUNDING

BlackBuck Raises $7.6M Venture Debt From InnoVen

B2B logistics startup BlackBuck, operated by Zinka Logistics Solutions has raised around Rs 50 crore ($7.6 million) from InnoVen Capital, venture debt arm of Singapore's Temasek. The development will be used to expand its service offerings. “The funds will get ploughed into the growth of the organization, which is typically around people, processes and product. We plan to penetrate deeper... and expand our offering to other services,” said Rajesh Yabaji, co-founder and chief executive at Blackbuck, adding that the firm looked at venture debt as a means to diversify its sources of funding. “For us it was about trying out different sources of capital. At different phases, access to different sources of capital has opened up for us. Venture debt is one of the things we wanted to try. Inn...
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Ready-To-Cook Food Startup Fingerlix Raises $7Mn in a Series B Round
17Oct By RishabhNo Comments
FUNDING

Ready-To-Cook Food Startup Fingerlix Raises $7Mn in a Series B Round

Run by Maverix Platforms Pvt. Ltd, ready-to-cook food brand Fingerlix, has recently raised $7 million in a Series B funding round led by Accel Partners and its existing investor Zephyr Peacock India. The startup is also planning to launch recipe-based offerings in several centre-of-plate categories. Other than that, it will be utilising the funds to accelerate its growth strategy and expand into newer geographies of Bengaluru, Hyderabad, Chennai and Delhi-NCR. Currently Fingerlix is offering ready-to-cook products such as batters, mixes, curries, lentils and paranthas. It will soon be offering Upma Mix, Biryani Mix and Puran Poli after the funding it raised. “We are delighted to partner with Accel, and further strengthen our association with Zephyr Peacock. We look forward to workin...
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PrimaryIO Inc. Bags $5.6 Mn In Seed Funding From Accel Partners, Others
5Sep By RishabhNo Comments
FUNDING

PrimaryIO Inc. Bags $5.6 Mn In Seed Funding From Accel Partners, Others

Silicon Valley- and Pune-based enterprise storage startup PrimaryIO, Inc. has raised $5.6 million in seed funding from Accel Partners, Exfinity Venture Partners and Partech Ventures. PrimaryIO will be using the funds to expedite its product development efforts. “This investment will help accelerate product development to bring innovation to the enterprise IT customers that are dealing with data center capacity, cost & performance issues, enabling them to benefit from the public cloud solutions while retaining control & security of their data,” the release read. Founded by Kumar Ganapathy and Vijay Karamcheti in 2014, PrimaryIO provides storage management software, for virtualized cloud data centres. ALSO READ Former Myntra Executives’ Health Tech Startup Bags $1.5 Mn Fr...
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Health Platform CureFit Raises $25 Mn In Fresh Funding From Existing Investors
28Aug By RishabhNo Comments
FUNDING

Health Platform CureFit Raises $25 Mn In Fresh Funding From Existing Investors

Myntra co-founder Mukesh Bansal and former Flipkart executive Ankit Nagori's health and fitness platform CureFit, has raised a fresh round of funding of $25 million from existing investors Accel Partners, Kalaari Capital, IDG Ventures and UC-RNT fund, a joint investment vehicle of the University of California and Ratan Tata's RNT Associates. The new round expects to go up to $35-40 million in the next 6 months, according to a source familiar with the matter. CureFit will use the fresh funding to expand the Cult centers into other cities, starting with Gurgaon in October and will also try to add a new product to medical examinations and primary health care under the Care.fit brand by the beginning of 2018,both the cofounders said. ALSO READ   McDonalds Dispute Puts C...
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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...
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Online Seller Bluestone scores $30 Million Funding by IIFL and Accel Partners
19Jul By RishabhNo Comments
FUNDING

Online Seller Bluestone scores $30 Million Funding by IIFL and Accel Partners

Bangalore-based jewellery e-tailer BlueStone has raised $30 million (Rs 200 crore) in a fresh round of investment led by financial services firm IIFL Holdings Ltd and Accel Partners. Kalaari Capital, RB Investments and IvyCap Ventures also invested in the Series D round, Bluestone Jewellery and Lifestyles Pvt. Ltd said in a statement. Founded in 2011 by Gaurav Kushwaha and Vidya Nataraj, BlueStone also has Dragoneer, Saama Capital, Ratan Tata, and Meena Ganesh among its backers. “BlueStone.com has a high quality team and has grown rapidly over the last year. With the strong foundation and this capital infusion, we believe BlueStone.com is well-positioned to build a large online jewellery brand in India.” said Vani Kola, Managing Director, Kalaari Capital. BlueStone raised $5 millio...
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Online Rental Solution RentoMojo Has Raised $5 Million From IDG Ventures and Accel Partners
18Jul By RishabhNo Comments
FUNDING

Online Rental Solution RentoMojo Has Raised $5 Million From IDG Ventures and Accel Partners

RentoMojo, an online rental solution startup has raised funds of $5 million in a first strategic round (Series A) from IDG Ventures and Accel Partners. Since its inception in November 2014, the Bengaluru headquartered company has expanded to three more cities - Delhi, Mumbai and Pune. The funds raised will be used to further strengthen the product and data driven structure within the company, it said in a statement here on Monday. "We want our users to indulge in the benefits of curated, personalised lifestyle without actually owning it. Apart from the cities we are operating in currently, we plan to expand to two more cities in the coming quarter," said Bamania, founder of RentoMojo. Geetansh Bamania is a serial entrepreneur and has worked with e-commerce majors such as Flipkart a...
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Saas Startup Zarget Raised $1.5 million Seed Funding
14May By PriyankaNo Comments
FUNDING

Saas Startup Zarget Raised $1.5 million Seed Funding

Founded in 2015 by three ex-Zoho employees Arvind Parthiban, Naveen Venkat, and Santhosh Kumar, Zarget has raised $1.5 million in seed funding from global venture capital firms Accel Partners and Matrix Partners, and angel investors such as Girish Mathrubootham, CEO of Freshdesk. The company launched its Zarget platform, a conversion rate optimization tool built as a Chrome plugin and intended for use by marketers, product managers and web designers. The new platform is a much needed solution for firms that previously used multiple software products to complete A/B testing, funnel analysis, and heatmaps. Zarget provides all of these tools in one platform with the added simplicity of a Chrome plugin, so users no longer need to waste time and valuable resources loading websites into an...
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Bangalore Based Food Startup Swiggy Raised Rs 47 crore
10May By AnkitaNo Comments
FUNDING

Bangalore Based Food Startup Swiggy Raised Rs 47 crore

Online food ordering startup Swiggy has raised Rs 47 crore from existing investors Norwest Venture Partners, DST Global and Accel Partners. The value of Swiggy is now over Rs 865 crore or $130 million. Over the past few months, the company has also seen its order value basket size increased to Rs 375 per order. Close to 30% of these orders are cashless. Swiggy is also fulfilling close to 40,000 orders from the eight cities that it operates in including Bengaluru, Hyderabad and Delhi-NCR. The new round of funding gives the startup additional horsepower to go deeper into its core eight cities and maintain its market leadership position as it competes with other startups including Zomato and Runnr, to be formed after the merger of Roadrunnr and TinyOwl. Reddy explained that the compa...
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Ninjacart Raised 20 Crores From Accel Partners To Fight For Farmers
7Mar By AdityaNo Comments
FUNDING

Ninjacart Raised 20 Crores From Accel Partners To Fight For Farmers

BENGALURU: Ninjacart a Bengaluru-based online platform has raised Rs 20 crore in a funding round led by Accel Partners. The Funding round also saw participation from Qualcomm Ventures, Singapore-based M&S Partners and ZopSmart, the parent of online grocer ZopNow.that connects farmers and brands to retailers, has raised Rs 20 crore in a funding round led by Accel Partners. Ninjacart platform connects farmers and brands to retailers,  which helps supermarkets and kirana stores to source fresh fruits and vegetables from farmers and brands. Ninjacart will use funding to hire talent, invest in supply chain infrastructure and technology. Thirukumaran Nagarajan, chief executive officer at Ninjacart said "Due to marginal farming, poor logistics and zero market information, a number of m...
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Accel Partners sells fractional stake in Flipkart to Qatar Investment Authority for $100 million
21Dec By AnkitaNo Comments
News

Accel Partners sells fractional stake in Flipkart to Qatar Investment Authority for $100 million

Accel Partners has sold a fractional stake in Flipkart to Qatar Investment Authority for $100 million (about Rs 650 crore), in a deal that values India's biggest online marketplace at $15 billion, according to two people aware of the transaction. Accel, the first venture investor in Flipkart, remains the second-largest shareholder in the e-commerce company behind New York-based hedge fund Tiger Global Management. Qatar Investment Authority, the sovereign wealth fund of the Arab nation, was one of five new investors in Flipkart in December 2014 when the online retailer raised $700 million at a valuation of $11 billion. Flipkart, in a recent regulatory filing, posted a loss of about Rs 2,000 crore for the fiscal year ended March 2015. Valuations of Indian internet companies are be...
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