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Agri-tech Startup Ninjacart Secures Rs 250 Crore

13Dec By Gauri SinghNo Comments

FUNDING

Agri-tech Startup Ninjacart Secures Rs 250 Crore

Agri-tech startup Ninjacart has raised Rs 250 crore in a series B round of funding. This round was led by Accel US and Syngenta Ventures which is dedicated to invest in the agriculture sector. Others like Korean investment company Neoplux, Jo Hirao, founder of ZIGExN, HR Capital and Trifecta Capital. Along with the new set of investors the company said that its existing ones like Nandan Nilekani, Accel India, Mistletoe, Qualcomm Ventures also participated in this round. The RainMaker Group was the financial advisor to Ninjacart for this funding round. Ninjacart which is in the business of supplying fresh fruits and vegetables directly from farmers to urban retailers intends to use the funds to enter new cities like Mumbai and Delhi and expand its di...

Edtech Major Byju’s Secures an Amount of $400 million

12Dec By Gauri SinghNo Comments

FUNDING

Edtech Major Byju’s Secures an Amount of $400 million

The popular edtech platform Byju’s has raised funds amounting to $400 million in a financing round led by Naspers Ventures and CPPIB. Naspers is a venture arm of South African media giant best known for its early bet on China's Tencent. On the other hand, CPPIB is a new investor. A private equity firm GeneralAtlantic, which has also picked up some secondary shares in the company. These funds have amounting raised to fuel its global expansion plan of the company. The transaction is expected to value the company at around $3.6 billion which would make it the fifth most valued private internet company in India after Flipkart ($22billion), Paytm ($16 billion), Oyo ($5 billion) and Ola ($4 billion). Byju’s is in the advanced stages of expanding to Englis...

11Dec By Gauri SinghNo Comments

FUNDING

London based OweMe Raises $1 Million in Seed Funding

London based OweMe which is a startup that helps companies move money efficiently through their supply chain has reportedly raised an amount of $1 million in Seed funding.This round was led by pi Ventures. The company basically increases profitability by removing supply chain costs using provenance and disintermediation for banks, large corporate buyers and suppliers. The company is planning to use the funds raised in strengthening the product and the team. OweMe is a blockchain based platform enabling provenance of money in deep supply chains. The company was co-founded in 2016 by Nishant Singh, CEO, and Nisha Singh, COO, who have expertise in the banking and fintech space. “Finance is viewed as a single entities’ issue for ages. Oper...

China based G7 Raises $320 million from HOPU Investments

11Dec By Gauri SinghNo Comments

FUNDING

China based G7 Raises $320 million from HOPU Investments

Beijing-based fleet management company G7 has raised funds amounting to $320 million in a financing round. This round was led by HOPU Investments, one of the mosthigh-profile private equity firms in China. With this funding,the total capital raised by the company has reached to around $500 million.Other participants included new investors ChinaBroadband Capital, Intelligent Fund of Funds, Mount Morning Capital, Total Energy Ventures and TH Capital, who are joined by existing investorsGLP, Bank of China Investment and Tencent. The basic purposeof this funding round is to drive technological development. The companyruns a proprietary connected platform for trucks, shippers, fleet manager anddrivers. G7 claims that its latest funding round marks the ...

Cab Aggregator Uber Secretly Plans an IPO

10Dec By Gauri SinghNo Comments

Market

Cab Aggregator Uber Secretly Plans an IPO

Soon after cab aggregator Lyft applied for nearly 2019 initial public offering, Uber is on the same path and the company issecretly planning to file for an IPO, marking the beginning of a race for thetwo ride-hailing giants to the stock markets. Most recently,Uber’s private market valuation was a whopping $72 billion value. Founded in2009, Uber has raised a total of nearly $20 billion in a combination of debtand equity funding. Uber’s currentchief executive officer Dara Khosrowshahi previously said he expected the company to completean IPO in mid-2019 but today’s news puts Uber on pace to debut in the firstquarter of next year. “[Uber] has allthe disadvantage of being a public company, with the spotlight on us, with none of the advantages,” Khosrowshahi said. The comp...

9Dec By AnkitaNo Comments

FUNDING

With over 2 Million Subscribers, Japan’s AI based App raises $26.43 Million Series E Funding

Sansan, Inc., the parent company of the Eight app, Japan's leading business card organizer and professional social networking platform has raised approx. Rs. 186 crores (USD 26.43 million) in Series-E funding, taking funding to date to approx. Rs. 7,050 crores (USD 100 million). Sansan's Series E investment was led by Japan Post Capital, T. Rowe Price, SBI Investment, and DCM Ventures. The additional funding will help Sansan deliver on its new mission: "Turning encounters into innovation." The company aims to accelerate its development of innovative technologies centered around maximizing the utility of business cards. Eight is Japan's largest professional social networking platform. The app has well over 2 million registered users. The Eight app uses Artificial Intelligence (AI) ...

Brazil-based QuintoAndar Secures $64 million Funds

3Dec By Gauri SinghNo Comments

FUNDING

Brazil-based QuintoAndar Secures $64 million Funds

São Paulo-based rental marketplace called QuintoAndar raised an amount of $64 million (R$ 250 million) in a fresh funding round. The particular funding round was led by General Atlantic to accelerate expansion in Brazil. The other backers that participated in the round were Kaszek Ventures, Qualcomm Ventures and QED. The site provides the listings, allows users to schedule tenant visits to the property (the founder says more than 86,000 property showings were booked in October), and processes the transactions. The company believes there’s a big opportunity to make renting in Brazil more efficient. “20% of the population in Brazil lives in rented properties, and the sentiment toward buying homes in Brazil is changing,” says Braga. Brazil remains undercapitalized relative to othe...

1Dec By Gauri SinghNo Comments

FUNDING

Top Five Funding of the Week (26th Nov – 1st Dec)

Funding is a very important part of business and without funding, it is quite difficult for startups to grow. Funding provides the base to startups. This week, we saw various funding activities, out of which the maximum funds were raised by an insurance company. The maximum funds raised were $200 million. Let us now have a full view of the important and the top five funding activities of the week. 1) Bright Health Minneapolis-headquartered insurance startup Bright Health has raised funds amounting to $200 million in Series C funding round. The round was led by Tom Valdivia, a former Definity Health executive. The valuation of the company, following the round has reached at $950 million. New investors Declaration Partners and Meritech Capital participated in ...

1Dec By Gauri SinghNo Comments

FUNDING

On-demand Home Services Firm UrbanClap Raises $50 Million

India’s on demand home services marketplace UrbanClap has secured funds amounting to $50 million in a fresh funding round. This round was led by Hong Kong-based hedge fund Steadview Capital along with existing investor Vy Capital. With this round, the valuation of the company will more than double to $480 million. UrbanClap which also counts Accel, SAIF Partners, Bessemer Venture Partners and Ratan Tata amongst its investors, was last valued at $200 million when it raised capital in 2017. The funds so raised will be used by the company to accelerate the onboarding of both customer and service partners, build stronger teams across product and technology, build training capabilities as also enhance its supply chain of consumables. “The core of our business which is beauty, cleaning an...

Insurance Startup Bright Health Secures $200 million in Series C Round

30Nov By Gauri SinghNo Comments

FUNDING

Insurance Startup Bright Health Secures $200 million in Series C Round

Minneapolis-headquartered insurance startup Bright Health has raised funds amounting to $200 million in Series C funding round. The round was led by Tom Valdivia, a former Definity Health executive. The valuation of the company, following the round has reached at $950 million. New investors Declaration Partners and Meritech Capital participated in the round, with backing from Bessemer Venture Partners, Greycroft, NEA, Redpoint Ventures and others. The company is planning to utilize these funds to rapidly expand into new markets, planning to triple its geographic footprint in 2019. “Bright Health has continued to execute at a fast pace towards our goal of disrupting the old health care model that places insurers at odds with providers,” Sheehy said in a statement. “[Its] current high...

Mobility Sharing Firm Drivezy Secures $20 million

29Nov By Gauri SinghNo Comments

News

Mobility Sharing Firm Drivezy Secures $20 million

India’s mobility sharing platform Drivezy has secured funds amounting to $20 million Series B financing round. The particular round was led by existing investor Das Capital. The round also saw participation from backers like automotive giant Yamaha, Axan Partners and IT-Farm. With this funding, the total amount of funds the company has raised so far reaches $31 million. Along with this, the startup has also inked a $100 million asset financing deal backed by Japan’s AnyPay, which will see new cars and motorbikes added to Drivezy’s fleet over the next year. Initially, the company was known as JustRide. It claims to have a fleet of around 8,000 vehicles that includes 5,000 two-wheelers (motorbikes and scooters) and 3,000 cars, which probably attracts around 37,000 customers every mo...

Bengaluru-based Startup Doodhwala Secures $12 million

28Nov By Gauri SinghNo Comments

FUNDING

Bengaluru-based Startup Doodhwala Secures $12 million

Bengaluru-based milk and daily essentials delivery startup called Doodhwala is reportedly securing funds up to $12 million (around Rs 85 crore) in a Series A round of funding. The round is being led by Impact investment firm Omnivore Ventures. Along with this, the company had approached both new and existing investors for the fresh fundraise. “We will be closing the round in January next year as the term sheets are getting finalised and the talks are at a fairly advanced stage,” Doodhwala co-founder Ebrahim Akbari said. “We are looking at a post-money valuation of $40 million.” Also, he stated that American, Chinese and Japanese investors were in the fray. US investors are keen on subscription businesses as they are creating a mark of their own and showing potential growth. With th...