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Urban Ladder Eyeing to Raise $35-40 million for Offline Growth

4Sep By Gauri SinghNo Comments

FUNDING

Urban Ladder Eyeing to Raise $35-40 million for Offline Growth

Online furniture retailer Urban Ladder is eyeing to secure funds amounting to $35-40 million. The company’s future growth seems to lie in traditional brick-and-mortar stores. After securing a single-brand-retail trade licence the previous year, Urban Ladder set up six large-format stores in Bengaluru and Delhi-NCR that now account for more than one-third of its total revenue. “We spent the last year testing our offline model,” said chief executive Ashish Goel. “Now that we know it works, we are going to start expanding our offline stores aggressively.” The basic purpose of the company against raising these funds would be to expand its offline presence, adding stores in Mumbai, Chennai and Pune by January. Goel wants the company to be operationally profitable (at the Ebitda level) b...

New York based Vroom is Raising $70 million After a Big Round of Layoffs

3Sep By Gauri SinghNo Comments

News

New York based Vroom is Raising $70 million After a Big Round of Layoffs

New York City-based e-commerce company Vroom which buys and sells used cars has filed to raise $70 million in new equity funding. The company has already secured $30 million of that $70 million targets. The company with this is signaling confidence from investors that it’ll become profitable and beat out key competitors in the space, such as Carvana and Shift. The company has an aim of making the process of buying a used car as easy as ordering a pizza. With more than 3,000 cars for sale on the site, the startup delivers directly to its customers’ doorsteps. However, when asked, Vroom declined to comment on its upcoming round. “While Vroom’s business is healthy and financially stable, we’re always looking to align our resources to fulfill our long-term vision and deliver on our mi...

2Sep By AdityaNo Comments

FUNDING

Online Pharmacy Platform Netmeds.com Raises $35 Million Funding

India based online pharmacy platform Netmeds.com secures $35 million in Series C Funding from Daun Penh's investment holding and existing investors. The funding amount will use to increase awareness through marketing efforts as well as to enhance the customer experience. Pradeep Dadha, CEO and Founder Netmeds.com said, "the money would be used to ensure that the company "stayed the course" with regard to the extraordinary double-digit month-on-month growth it has enjoyed since inception." "Daun Penh was joined in the round by the existing investors Sistema Asia Fund, and Tanncam Investment. MAPE, the Indian investment bank which has been involved with Netmeds since inception teamed with co-arranger Cambodian Investment Management for this Series C funding round," added Dadha. He it...

1Sep By AnkitaNo Comments

FUNDING

Playtoome Raises $281000 Funding From Venture Catalysts

Venture Catalysts, India's integrated incubator has announced investment worth Rs. 2 crores into Playtoome, a live entertainment destination, via Pre-Series A investment. Led by VCats angels, the funding round saw participation by Arihant Patni, serial entrepreneur Bhaskar Raju Konduru, Founding member of Red Bus & current CTO at Housejoy, Goverdhan Singh Jamwal, Chairman Kunwar Viyogi Memorial Trust, philanthropist and art and culture activist, Akhileshwaran Krishnan-Group CFO at Apollo Hospitals. The platform had earlier raised a seed round of funding of Rs. 1.5 crores from an Angel Investment firm Newport Holdings LLP, founded by Rangarajan Narayanan (Co-Founder EXILANT Technologies) and from HNIs including Ex Global commodity financial services leader Ramesh Sundaresan at OLA...

Google & Xiaomi Eyeing Investment in ‘Where is my Train’ App

31Aug By Gauri SinghNo Comments

FUNDING

Google & Xiaomi Eyeing Investment in ‘Where is my Train’ App

Technology giant Google and Chinese smartphone maker Xiaomi are eying an investment in an app called ‘Where Is My Train’ that provides live updates on trains without the use of internet and GPS. Google is in talks to acquire the two-year-old startup, whereas Xiaomi has held discussions for an investment. It is expected that Google will acquire the company for $30-40 million in the near future. However, the transaction has not yet been finalized. "The talks with Google are more advanced and they are likely to buy the company as a part of their Next Billion Users initiative," a person familiar to the matter stated. Where Is My Train is owned and operated by Sigmoid Labs, and is one of the most downloaded train-based apps in the country. It was was founded by five former executives of Ti...

Chennai’s Largest Chai Retail Chain Raises 2 Crores From Chennai Angels

30Aug By AnkitaNo Comments

FUNDING

Chennai’s Largest Chai Retail Chain Raises 2 Crores From Chennai Angels

Chai Kings, the largest Chai Retail Chain in Chennai raises 2 crores from India’s most active angel investing groups Chennai Angels. Founded in 2016, Chai Kings is the largest Chai Retail Chain in Chennai operating with 8 stores. Chai Kings offers a sumptuous range of chai in exotic flavours, in the most hygienic ambiance, and at perfectly justifiable prices. Chai Kings also delivers Chai at doorsteps through in house delivery personnel as well as through the online food aggregators. With the vision to be the favourite chai place, Chai Kings is expanding rapidly in Chennai with the target of 100 stores in 5 years. “Sadique and Balaji have built a strong brand with Chai Kings, which has a great potential to scale given the vast consumption base in the country. We look forward to working ...

30Aug By Gauri SinghNo Comments

FUNDING

Chicago-based Tempus Raises $110 Million in Series E Funding Round

Chicago-based data analytics startup Tempus has raised funds amounting to $110 million in its Series E funding round. The funding round was led by a new backer Baillie Gifford, a U.K. investment management firm. The other investors who participated in the round included existing investors T. Rowe Price, Revolution Growth and New Enterprise Associates. With the funds raised through this round, the company plans to grow operations outside of the U.S. and also expand into new therapeutic areas other than cancer. This particular round has valued the company to over $2 billion. Following this round, the total funds raised by the company as of now has reached $320 million since its launch. Founded in 2015 by serial entrepreneur Eric Lefkofsky, Tempus is a data analytics company that ...

Narvar Secures Millions of Funds from US-based Accel

29Aug By Gauri SinghNo Comments

FUNDING

Narvar Secures Millions of Funds from US-based Accel

E-commerce premium post-purchase customer engagement platform Narvar has secured funds amounting to $30 million in a funding round. The round was led by US-based venture capital firm Accel along with participation from Salesforce Ventures, Scale Venture Partners and existing investors Battery Ventures. With this funding round, the company is aiming to scale its India business over the next 3 years. It expects to onboard its first set of e-commerce and retail clients by the end of September in keeping with the festive season. As a part of the development, Ryan Sweeney, partner at Accel, will join Narvar’s board. As of now, the company has worked with over 500 international retailers to build their customer engagement platforms for customer service and post purchase experience providin...

28Aug By Gauri SinghNo Comments

FUNDING

MissMalini Secures Rs 10.4 crores in Pre-series A Funding

Entertainment content platform MissMalini has raised Rs 10.4 crores in pre-series A funding round. The round was led by Orios Venture Partners and New Enterprise Associates. This funding round comes six years after the firm secured angel funding from investors including Google's Rajan Anandan. Launched in 2008, MissMalini is a multi-media and multi-platform content firm and is among the first to make a mark in India's blogging space. "As a millennial content firm, we offer a direct platform across multiple social media channels so as to create maximum impact. We are in talks with firms for our next TV show, which we are considering in a (direct-to-consumer) or (over-the-top) format," CEO Nowshad Rizwanullah said. With the funds raised, the company is looking to build full-service inte...

27Aug By Gauri SinghNo Comments

FUNDING

Rooter Raises Rs 4.5 Crore in Series A Funding

Sports social gaming platform Rooter has raised funds amounting to Rs 4.5 crore in Series A funding round from a group of investors of integrated incubator platform Venture Catalysts. The company is planning to use these funds in the expansion of its reach and appeal and establish itself on an international stage. The company is basically aiming at global expansion. “This is a precursor to a big Series A round, which we are going to raise on November 12 when we will pitch in front of over 50 investors at the Adidas family-backed 2018 leAD Sports Accelerator Program,” said Piyush, CEO and co-founder at Rooter. The investors that participated in the particular funding round included Khalid Al Tawil, Anjali Malhotra from Aviva, Pranay Nigotiya, Vishal Agarwal, Nishil Agarwal, Tharun ...

27Aug By Gauri SinghNo Comments

FUNDING

Online Shopping Platform Modestreet Raises Angel Funding

An online omnichannel fashion shopping and discovery platform Modestreet Internet has secured an undisclosed amount in a funding round. The round was led by angel investors Anshika Aggarwal, a chartered accountant and EY executive. The funds so raised by the startup will be utilized to launch its operations in Delhi-NCR, Jaipur, Agra and Chandigarh and to strengthen its technology teams. These plans were stated by Abhitosh Yadav, the co-founder of the company. Modestreet was founded by Abhitosh Yadav and Rohit Chhabra who both are alumni of the National Institute of Fashion. The startup offers an online and offline fashion retail platform which includes social networking and augmented reality services. The company also caters to businesses in the fashion retail space. “As a communit...

25Aug By Gauri SinghNo Comments

FUNDING

Top 5 Funding of The Week (20th August – 25th August)

Funding refers to the process of raising funds for the purpose of business growth and these days funding has become a very important part of the business and startup world. Without funding, it is quite impossible to think about the growth of a business. The last week was quite eventful in terms of funding activities and thus, we have a list of the top five funding activities of the week. The largest amount that was raised this week was $350 million by One Medical. Lets now dig into the details and have a look at the other funding activities as well. 1) ELARA TECHNOLOGIES Elara Technologies, the owner of Housing.com, PropTiger.com and Makaan.com that is based in Singapore has reportedly raised an amount of $35 million in a fresh funding round. The round was led by ...