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7Mar By PriyankaNo Comments

FUNDING

MovingNow Raises Angel Funding From a set of Individuals

Logistics Tech company MovingNow raises angel funding from a set of investors. This was led by a couple of big-ticket individual investments from NRIs giving them the honour of receiving FDI in the angel round. MovingNow has introduced a unique pricing algorithm for their B2C business which they have filed for a patent that makes it simple for the users to place moving orders on the website. While B2B business is conducted on the mobile application on Demand/Supply mechanism. Most of the funds would be utilized to expand into new geographies in India. This would result in hiring additional staff and improve upon technology to correlate with the growing bandwidth. Founding CEO of MovingNow Manish Datta says, "Logistics must be simple. We at MovingNow, inspired by the optimism of the i...

4Mar By AdityaNo Comments

FUNDING

E-scooter startup VOI raises another €26 million Funding

The Stockholm-based e-scooter startup VOI raises another €26 million to accelerate its expansion in Europe. The e-scooter startup has already expanded into 14 cities, including Paris, Madrid, and Lisbon. Founded in August 2018, VOI raises €44 million Series A round in last November. The funding came from existing investors Vostok New Ventures, Balderton Capital, LocalGlobe and Raine Ventures, alongside new investors Project A and Creandum, and a host of business angels. Riders can use Voi scooters by downloading the app to locate a nearby scooter on the street or by using a map, pressing the ‘ride’ button, and scanning the VOI QR code. There’s a €1 unlocking fee and a ride costs €0.15 per minute. The startup’s approach to growth is “distinctively Scandinavian – based on dialogue...

Ola raises 292 Crore For its Electric Segment

1Mar By AdityaNo Comments

News

Ola raises 292 Crore For its Electric Segment

India's leading cab booking platform Ola electric raises Rs 292 crore from global investment firms Tiger Global Management, Matrix Partners, and Sarin Family India LLC (family office of ex-Vodafone chief executive officer Arun Sarin), according to a regulatory filing by the company. This is the first time Ola EV raises independent funding. Ola Electric Mobility has issued and allotted “1993 Series A compulsory convertible preference shares of face value of Rs 10 each of the company, at an issue price of Rs 14,61,523,” to the above investors. As per the sources, the company will raise a total of Rs 400 crore in this round led by the same set of investors. Ola recently announced to bring 1 million EV on road and plan to place 10,000 e-rickshaws and e-autorickshaws in its service w...

Flipkart founder Sachin Bansal Invested $21 Million in Ola

14Jan By AdityaNo Comments

FUNDING

Flipkart founder Sachin Bansal Invested $21 Million in Ola

Flipkart co-founder Sachin Bansal has pumped in about Rs 150 crore in ride-hailing platform Ola, though the flipkart founder committed 650 crore in Ola. According to documents filed with the Corporate Affairs Ministry."... 70,588 fully and compulsorily convertible, cumulative 'Series J' Preference Shares' having face value of Rs 10 having the rights, privileges and preferences... is hereby allotted at a subscription price of Rs 21,250," the documents showed. This translates into an investment of about Rs 650 crore by Bansal, who left Flipkart after the US retail giant Walmart picked up 77 per cent stake in the e-commerce company for $16 billion. The resolution was passed at a board meeting of ANI Technologies, the entity that runs Ola, on January 12, according to the documents. ...

11Jan By PriyankaNo Comments

FUNDING

Ola Raises $74 million Funding, Pips Oyo as a 2nd Most valuable startup in India

India's leading taxi aggregator Ola raises $74 million funding from existing investor Steadview Capital. After this funding round Ola pips OYO a hotel aggregator startup and become India's No.2 most valuable startups. Ola is now only behind digital payments service firm Paytm (One97 Communications Pvt. Ltd). After $74 million in fresh funding round, Ola, India’s leading cab-hailing service valued at $5.7 billion. Oyo Rooms, which was valued at nearly $5 billion after it raised $1 Billion from SoftBank Group Corp & Others. Before got acquired by Walmart last year, the leading e-commerce giant Flipkart was the most-valuable Indian startup (close to $16 billion) for the longest time. Last January, Ola had raised $1.1 billion in fresh capital at a valuation of $3.5-4 bill...

10Jan By PriyankaNo Comments

FUNDING

ePayLater Raises pre-Series A funding from ICICI Bank & Others

Mumbai, January 10, 2019: ePayLater, the leading innovator in the digital credit market, is beginning 2019 on a high note. It has closed its Pre-Series A funding round which was led by ICICI Bank, the second largest private bank in India and also saw participation from GMO Global Fintech Fund, the investment fund of the internet conglomerate in Japan along with family offices like Parekh and Patni and foreign investors from the UK. With this capital infusion, ePayLater is better poised to ramp up its technology architecture as well as strengthen its product. The company had earlier raised USD 2 million during its angel round of funding. ePayLater has quickly made its mark in India as one of the top digital credit solutions, providing interest-free credit terms for a 14-day period thr...

7Jan By Press Trust of IndiaNo Comments

FUNDING

Indian Startups raise $38.3 bn Funding in 2018: Report

New Delhi: Indian startups are estimated to have raised $38.3 billion in funding in 2018, behind only the US and China, a report by Yostartups said Thursday. Flipkart’s $16 billion deal with American retailer Walmart accounted for the biggest piece of the pie, followed by Swiggy raising about $1.3 billion over three deals, and OYO picking up $1 billion in 2018, the report said. Other big funding deals included those by Paytm Mall ($895 million), ReNew Power ($495 million), Byju’s ($422 million) and Zomato ($410 million). Around 1,000 deals were signed by Indian startups in 2018 with areas like e-commerce, fintech, sustainability and renewable energy, transportation and logistics, health and wellness, and travel and tourism attracting the highest investments, it adde...

4Jan By NitishNo Comments

FUNDING

India’s leading Automobile Portal Cardekho Raises $110 Million Series C Funding

CarDekho, the flagship portal of GirnarSoft, on Thursday said it has raised USD 110 million (over Rs 770 crore) from various investors which it plans to utilise to expand its various business verticals. The company has raised the capital in a Series C funding with investments from Sequoia India, Hillhouse, CapitalG (Alphabet growth investment arm) and Axis Bank. “We plan to infuse the raised capital in used car business, insurance and finance verticals. These segments have huge potential to scale up and we are completely focused on getting them to a massive scale,” CarDekho CEO and co-founder Amit Jain told PIXR8 News. With this latest round of funding, the company has so far raised a total of USD 185 million, he added. CarDekho works directly with more than eight c...

29Dec By Gauri SinghNo Comments

FUNDING

Top Five Funding of the Week (24th Dec – 29th Dec)

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 DesignCa...

Alibaba-backed Ride Hailing company Raised “millions of funds”

29Dec By Gauri SinghNo Comments

FUNDING

Alibaba-backed Ride Hailing company Raised “millions of funds”

Alibaba-backed Hellobike which 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. It’s interesting to note that while both Ofo and Hellobike fall unde...

28Dec By Gauri SinghNo Comments

FUNDING

New-York based TrueFacet Raises $10 Million in Funding

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. TrueFacet has some tough competition in the space, including Crown & Caliber, a six-year-old, Atlanta, Ga.-based company that has never announced outside funding, and 15-year-old, Germany-based Chrono24, which has raised ...

27Dec By Gauri SinghNo Comments

FUNDING

Bloom Hotels Raises Rs 100 crore in a Fresh Funding Round

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. "With a view on keeping up with the company's accelerated growth and management's effective on the ground execution, Samena Capital has raised its Series B investment to Rs 200 crore within a few months after the initial investment into the company," Bloom Hotels said in a statement. 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...