Saturday, May 4

Tag: funding

GoWork in Talks With Investors To Raise $200 mn Funding
FUNDING

GoWork in Talks With Investors To Raise $200 mn Funding

Gurugram, August 9, 2018: GoWork, the world’s largest collaborative co-working ecosystem, recently announced its plans to raise $200mn from PE investors during its next funding. GoWork is a thriving ecosystem for entrepreneurship and aims to utilize the funds acquired to realize its massive expansion plans, which includes launching at least 50 campuses across the country in the next 5 years. The expansion will start from top metro cities such as prime regions of Delhi, Mumbai, and Bangalore following a Joint Venture model with big brands and corporates to revamp their existing office spaces, making them more comfortable through a co-working vibe. GoWork, which has already established itself as a pioneer in India’s emerging co-working space has registered an M-o-M growth rate of 37%. ...
Logistics Provider Shadowfax Secured $22 Million in Series C Funding
FUNDING

Logistics Provider Shadowfax Secured $22 Million in Series C Funding

Shadowfax, India's largest logistics provider for local businesses has raised an amount of $22 million in Series C funding round. This financial round was led by Nokia Growth Partners. The round also saw the participation of Qualcomm Ventures, Mirae Asset and existing investor Eight Roads Ventures. This particular investment is likely to value the logistics provider at around $87-97 million, as stated by two people familiar with details of the development. The company is planning to utilize these funds to scale up its operations and is looking forward to connecting 400,000 delivery, business partners to its platform by 2021. “We will be doubling and tripling down our business in these three categories—food, grocery and ecommerce fashion,” said Abhishek Bansal, chief executive of Sha...
B2B Startup ShopX Secures $35 Million to Boost Expansion
FUNDING

B2B Startup ShopX Secures $35 Million to Boost Expansion

B2B firm ShopX has reportedly raised an amount of $35 million in a fresh funding round from Fung Strategic Holdings. The primary purpose of this funding is to fuel the company’s expansion plans. The funds so raised are being planned to use in the strengthening of ShopX’s products and engineering teams. Along with this, the company also plans to strengthen its FMCG offerings and credit services. “We believe that credit is a game-changer in this industry,” said Amit Sharma, co-founder of ShopX. “While we will not be providing credit directly, we will do so through NBFCs and invest heavily in this vertical,” he added. Prior to this funding round, ShopX has secured funds of over $18 million from its early investor, Nandan Nilekani. Amit Sharma also stated that the company has also partner...
Satya MicroCapital Secures Funds from Japan-based Gojo & Company
FUNDING

Satya MicroCapital Secures Funds from Japan-based Gojo & Company

Satya MicroCapital, a Delhi-based women-focused company has reportedly secured funds amounting to Rs 43 crore ($6.27 million) in an equity funding. The particular round was led by new investor Gojo & Company, Inc. Gojo & Company is based in Japan and holds stakes in microlenders. Dia Vikas Capital Pvt. Ltd, the existing social impact investor of the company also participated in the funding round. The company is planning to utilize these funds in the expansion of its existence across its existing locations, and also enter into new geographies and diversify its loan book. With this round, Gojo has taken over 25% stake in the microlender, with the Mumbai-based advisory firm for private equity investments, Vidura Capital, acting as a consultant. Launched in 2017, Satya Micr...
Bus Aggregator Zipro Eyeing to Secure Funds from Essel Group
FUNDING

Bus Aggregator Zipro Eyeing to Secure Funds from Essel Group

Zipro Technologies, a firm that offers bus aggregation services is eyeing to secure an amount of $50 million in a fresh funding round from Essel Group. The bus aggregator reportedly is seeking to develop its presence in India from the present 10 cities. The company is based in Bengaluru, and it is expecting to utilize these funds to supply bookings for electrical buses and e-rickshaws as stated by a person familiar with the matter. Established by Subhash Chandra, Essel Group is present in areas including media, entertainment, packaging and technology. The company is planning to invest in ZipGo for the purpose of boosting up the building of infrastructure for electric vehicles. ZipGo that was founded in 2015 by Gaurav Agarwal, Jitender Kumar and Pritesh Gupta, has raised about $8.6...
Top 5 Funding of The Week (30th July – 4th August)
FUNDING

Top 5 Funding of The Week (30th July – 4th August)

Funding is a vital part of every enterprise. Especially, in the case of startups, funding plays a great role in the growth and expansion processes. This week witness various rounds of funding from various companies that raised funds from different investors. Investment from the right investor can do wonders to a company and change its overview completely. The largest amount of funds that were raised were $120 million by Cure.fit which is a health and fitness startup. Let’s now talk about the top five funding activities that took place in the previous week.     1) Cure.fit       Starting with the biggest funding round, Health and fitness startup Cure.fit  raised $ 120 million funding (Rs 824 crore) in new round of funding led by IDG Ventur...
Healthcare Platform MyHealthcare Raises $2 Million
FUNDING

Healthcare Platform MyHealthcare Raises $2 Million

Gurgaon based Online Healthcare platform MyHealthcare raises funds worth $2 million led by Hunch Ventures and Ajay Nanavati, Angel Investor and Retired Managing Director of 3M India & Israel. The MyHealthcare platform needs to connect to a hospital’s existing HIS to deliver the suite of services to its Patients, Doctors, and Paramedic staff. "Our platform works with hospitals, in enhancing their care solutions by transitioning the care process from paper to digital form. Making healthcare easily accessible, affordable and ensuring accuracy of care is our single focus at MyHealthcare," said founder and director of Myhealthcare, Shyatto Raha. "Having spent many years building 3M's healthcare businesses globally, the problem MyHealthcare is providing a solution to is very real. The...
App maker forBinary Secured Funds from JRS Investments & Others
FUNDING

App maker forBinary Secured Funds from JRS Investments & Others

A do-it-yourself (DIY) app maker platform forBinary based in Mumbai has raised seed funding from JRS Investments and other angel investors. The amount raised by the company in this funding round has however not been disclosed. According to Shrey Singh, co-founder of forBinary, the company will be using these funds to accelerate its growth and expand product offerings. The company basically operated a software-as-a-service (SaaS) platform that allows business-to-business (B2B) enterprises go mobile instantly, without the need for writing codes. Launched in 2016, the company was founded by a group of IIT Bombay and IIT Delhi alumni, Anish Sankhe who is the chief executive, Ashish Ranjan, who is the tech head and Singh, the chief business officer of forBinary. “Organisations, especiall...
Healthtech Firm HealthPlix Raises $3 million in Series A Funding Round
FUNDING

Healthtech Firm HealthPlix Raises $3 million in Series A Funding Round

HealthPlix, an online healthcare startup based in Bengaluru has secured funds amounting to $3 million in a Series A funding round. This round was led by IDG Ventures and Kalaari Capital. Post the round, the company will utilize the funds in strengthening its technology and grow its medical specialties. The company aims to bring a transformation in the way diseases are treated in the Indian outpatient care. The startup was founded in 2014 by Raghuraj Sunder Raju, Sandeep Gudibanda and Prasad Basavaraj, which at present, claims to provide services across 20 states and 130 cities in India. It caters in specialties including Diabetology, Cardiology, Nephrology, Endocrinology, Oncology and Internal Medicine. Most of the queries received by the company are from Maharashtra which is furt...
Cure.fit Raises $120 mn Funding led by IDG, Accel
FUNDING

Cure.fit Raises $120 mn Funding led by IDG, Accel

Health and fitness startup Cure.fit today said it has raised USD 120 million funding (Rs 824 crore) in new round of funding led by IDG Ventures, Accel Partners and Kalaari Capital. The series C round funding also saw participation from Chiratae Ventures and Oaktree Capital, Cure.fit said in a statement. "The fresh investment will enable Cure.fit to strengthen technology platform, invest in building a national brand and scale the geographical footprint for the company's four flagship products Cult.Fit, Eat.Fit, Mind.Fit and Care.fit," it added. Founded in 2016 by Myntra co-founder Mukesh Bansal and former Flipkart executive Ankit Nagori, CureFit operates a chain of fitness centres under Cult.Fit. It also focusses on mental fitness (through Mind.fit), healthy food (Eat.fit) and primar...
Byju’s Plans To Raise $250 Million From Softbank & Others
FUNDING

Byju’s Plans To Raise $250 Million From Softbank & Others

Education Technology and Training expertise platform Byju’s is in talks with SoftBank and different traders to lift $200-250 million to fund its international growth plans. In the recent talks, the deal is yet to be finalised. Byju’s is in news to lift about $200-250 million from SoftBank and others. They’re nonetheless discussing the factors. This can assist catapult their worldwide growth. If the deal is successful it would possibly value the company at around $2 billion as stated by Byju's.   “We by no means touch upon hypothesis,” mentioned a SoftBank spokesperson to an electronic mail question from ET, whereas a spokesperson of Byju’s mentioned that they had “no feedback” to supply, mentioned Byju's.   Byju’s-The Learning App, which is the education technology pla...
Shuttl Raises Series B Funding Round From Amazon
FUNDING

Shuttl Raises Series B Funding Round From Amazon

Online minibus service Shuttl has successfully raised an amount of $11 million (about Rs 75 crore) in a series-B financing round. This particular funding was led by Amazon, in connection with the Amazon Alexa Fund, and Dentsu Ventures along with existing investors. The funds so raised will be utilized for product development, expansion into new cities and marketing. The company is also looking to increase the routes and frequency of its bus shuttle service in Delhi. Amit Singh, the chief executive officer of Shuttl said, “At Shuttl our mission is to take the pain away from everyone’s commute and reduce congestion in cities via a seat-based smart bus option. We have shown that this can be done at scale. We will continue to improve the consumer experience, design more routes, and restore...