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India’s Popular Social Media Platform Will Double The Hiring

24Sep By AnkitaNo Comments

News

India’s Popular Social Media Platform Will Double The Hiring

After raising USD 100 million, India's regional language social media platform ShareChat will double its employee numbers from current 75 to 150 people as it looks to further strengthen its technology platform and reach 100 million monthly active users. The Bengaluru-based company has recently raised USD 100 million in series C funding led by Shunwei Capital and others like Yuri Milner, Lightspeed US, handset maker Xiaomi and Morningside Venture Capital. "We are focused towards scaling up business in India, the financing will be used to scale up the business by creating and maintaining infrastructure. One of our main focus areas will also be to hire talent. We have about 75 people right now and we expect to double that to about 150 people in the next one year," ShareChat CEO Ankush Sac...

22Sep By Gauri SinghNo Comments

FUNDING

Top 5 Funding of The Week (17th Sept – 22nd Sept)

The most popular methods of fundraising these days for companies is either through investors or through the launch of IPO. Initially, the companies generally go for raising funds from the investors. This has become a vital part of a business and thus, here we have the top five funding activities that took place this week. This particular week was quite active in terms of fundraising activities. The company that raised the highest amount of funds was UiPath which is a Robotic Process Automation (RPA) software company that raised $225 million funds. Let's have a look on these funding rounds. Setoo A UK-based startup Setoo that turns insurance into a powerful business accelerator, transforming the online customer experience and generating new revenue str...

Digital Lending Startup Qbera Raised $3 million from E City Ventures

22Sep By Gauri SinghNo Comments

FUNDING

Digital Lending Startup Qbera Raised $3 million from E City Ventures

Digital lending startup Qbera which is headquartered in Bengaluru has raised funds amounting to $3 million (about Rs 21.5 crore) in its first institutional fundraising since its establishment. The funding is an all-equity deal led by E City Ventures which is a subsidiary of Essel Group. The funds raised in this fresh funding round are planned to be used by the one-year-old company in the expansion of its scope of operations. Also, the funds will be used to strengthen the company’s technology platform and expand its team. “We are in eight cities presently, and will now expand the business to new cities like Patna, Chandigarh, Indore and Bhopal,” said Qbera founder Aditya Kumar. “We are currently getting around 10,000 loan applications per month. The target is to scale up to 50,000 in th...

21Sep By Gauri SinghNo Comments

FUNDING

MedTech Firm Cyclops Secures $1 Million in a Fresh Funding Round

Cyclops Medtech, a medical technology company has raised an amount of $1 million (around Rs 7.2 crore) in a fresh funding round. The particular round was led by impact investment fund Unitus Ventures and existing investor CP Bothra. The chairman and managing director of generic drug manufacturer Medreich Pharma also participated in this funding round. The funds raised through this funding will be utilized by the company to increase installations of its product BalanceEye, which diagnoses neuro-vestibular conditions, across Tier-2 and 3 cities apart from entering new markets in Asia. The Bengaluru-based company has a target of 1.000 installations over the next five years. A part of the funds will also be used to develop three other products in the neuro-vestibular space. “We intend t...

20Sep By Gauri SinghNo Comments

FUNDING

ShareChat’s Latest Funding Round Brings Seven-fold Rise in its Valuation

The social platform for regional language known as ShareChat has secured funds amounting to Rs 720 crore ($99 million) in a funding round. The particular round was led by existing backer Shunwei Capital. The other investors that participated in the round included Morningside Ventures of China and Jesmond Holdings, an affiliate of Russian billionaire Yuri Milner’s DST Global. Following this funding round, the valuation of the company will get a boost and will reach to Rs 3,332 crore ($460 million) according to the documents filed with Registrar of Companies. With the funds raised, the company plans to foray deeper in markets like the Northeast, and also start working on monetizing its service next year through activities like advertising, influencer marketing, and in-app transactions....

Matrix Partners India Backs Bengaluru-based DailyNinja

20Sep By Gauri SinghNo Comments

FUNDING

Matrix Partners India Backs Bengaluru-based DailyNinja

A startup that delivers milk and grocery called DailyNinja has reportedly raised an undisclosed amount in a funding round led by Matrix Partners India. The particular round also saw participation from existing investors including Sequoia India and Saama Capital. The funds raised will be used to accelerate growth, expand its footprint and hire professional talent. Also, the company aims to achieve a target of 1,00,000 daily transactions in the next six months, almost tripling its current daily volumes of 35,000. “We want to grow as fast as we can and have the maximum number of customers on our platform,” said Sagar Yarnalkar, chief executive of DailyNinja. “We also want to expand our team and hire talent for operations and tech.” DailyNinja is a Bengaluru-based company that was founded...

19Sep By Gauri SinghNo Comments

FUNDING

Online Home Design Startup Livspace Raised $70 Million in Series C Funding

Online home design and décor company Livspace has raised an amount of $70 million in a series-C financing round. The particular round was led by private equity firm TPG Growth and Goldman Sachs. This has made it one of the largest funding rounds in the vertical e-commerce space in the recent times. The funding round also witnessed participation from investors such as Jungle Ventures, Bessemer Venture Partners and Helion Ventures. With this round, the valuation of the four-year-old startup has reached around $250-300 million. The funds raised through the round are being planned to be utilized in the process of strengthening the company’s offline footprint along with marketing and branding spends. Talking about the details, the company claims to have designed close to 6,000 homes si...

US-based RPA Firm Raises $225 million from CapitalG and Sequoia Capital

19Sep By Gauri SinghNo Comments

FUNDING

US-based RPA Firm Raises $225 million from CapitalG and Sequoia Capital

Robotic Process Automation (RPA) software company UiPath has secured funds amounting to $225 million in Series C funding. The round was co-led by existing investor CapitalG and new investor Sequoia Capital. Another investor that participated in the funding round included existing investor Accel Partners. This particular fundraise has valued the company at $3 billion, a three-fold increase from $1 billion valuation in March. The RPA firm plans to use these funds to gear up its India operations and for product development. Also, the company plans to increase its India workforce from 250 to 1,200 by end of 2019. Along with this, a part of funds will also be used to expand its presence to eight cities including Chennai, Pune, Hyderabad and Kolkata, while ramping up workforce across all f...

18Sep By Gauri SinghNo Comments

FUNDING

UK-Based Setoo Raises $9.3 million in Series A Funding

A UK-based startup Setoo that turns insurance into a powerful business accelerator, transforming the online customer experience and generating new revenue streams, has reportedly secured funds amounting to $9.3 million in Series A funding round. The particular funding round was led by AXA’s ‘Insurtech’ startup studio, Kamet. This funding round has brought the total amount raised to date to $12 million. With these funds, the company plans to expand in every aspect and give an aggressive fight to its rivals such as ZhongAn, Moonshot and Qover. “In French ‘c’est tout’ means ‘that’s it’. My chose the name Setoo to symbolise how simple and quick it is to create effective new protections products using the platform, and the simplicity of the products created for the consumer. This investment...

15Sep By Gauri SinghNo Comments

FUNDING

Top 5 Funding of The Week (10th Sept – 15th Sept)

Like every week, we have come up with the glimpse of the top five funding activities that took place this week. As you might already know, funding is an essential part of a business, especially for the startups. Without funding, the startups cannot look forward to grow and expand as per their plans. This particular week was quite active in terms of fundraising. Various companies, startups raised a valuable amount of funds from well-known investors. The company that raised the highest amount of funds was AutoGrid. It raised $32 million in Series D funding. Well, lets now have a look at all the top five funding activities that made it to the list. 1) Bon Pune-based fintech startup Bon has reportedly raised funds amounting to $1.1 million (Rs 7.8 crore) in...

14Sep By Gauri SinghNo Comments

FUNDING

Tappp Secures Series-A Funding from ADvantage

A prepaid consumer marketplace Tappp, which offers global access to premium live sports content, has raised funds amounting to $5 million in Series-A funding. The round was led by global sports tech venture fund ADvantage. The round also witnessed participation from leading venture capital firms and sports technology investors such as Elysian Park (LA Dodgers fund), Accomplice, Go4it, Courtside VC and Sterling VC. “We intend to build a next generation platform that gives fans more access and control to their favorite sport, teams, and players,” Sandy Agarwal, the founder of Tappp said. The company is planning to utilize these funds for research and development in India. The company also plans to invest majorly in areas like artificial intelligence to match micro payments to specific ...

ShiftKarado Secures Rs 5 Crore from Star WorldWide Group

13Sep By Gauri SinghNo Comments

FUNDING

ShiftKarado Secures Rs 5 Crore from Star WorldWide Group

Gurugram-based tech-oriented packing and moving company ShiftKarado has raised Rs. 5 Crore in a funding round led by Star WorldWide Group and Promoters. Star WorldWide is a firm in international relocation and fine art and event logistics market. Founded in 1996, Star Worldwide Group is headquartered in New Delhi and is one of the leading companies in international relocation services, fine art handling, event & exhibition logistics and information management services. The funds so raised by the company are being planned to be used in deploying more resources and upgrade its services, for a better customer experience. The company stated that the funding was received in various rounds, with the final tranche coming this month. “We will be investing the funds to upgrade the techno...