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Kolkata Based Insurance Firm Raises $1 Million From Venture Catalysts

12Apr By NitishNo Comments

FUNDING

Kolkata Based Insurance Firm Raises $1 Million From Venture Catalysts

Kolkata based insurance management company Ideal insurance raises $1 million seed round of funding from Venture Catalysts. Venture Catalysts is India's leading incubator and the investors from Vcats include Nitesh Prakash of Ola, Atul Jain of Samyakth Finserv and promoters of Nandan Steel, Maithan group, Primarc, Atha group etc. The funding will be used primarily for building a strong infrastructural support for our operations and backend team as well as for marketing purposes. "With the development of our dedicated health insurance portal www.121policy.com, the investment has come at a much needed stage and will definitely bolster our growth and diversification plans," said Rahul Agarwal, founder and CEO, Ideal Insurance. Ideal Insurance is a pioneer in delivering niche and custom...

12Apr By Sheldan RungasamyNo Comments

FUNDING

IoT startup Chariot Raises Funding From GEMs Partners

Chariot, an Internet of Things (IoT) startup received Rs 2 crore in a Pre-Series A funding round led by international venture capitalist firm, GEMs Partners. The capital raised will serve to service existing and future clients, to improve their technology and expand to newer markets. This investment by GEMs partners will help us in further consolidating our reach at the global level, upgrading in-house technology platform, infrastructure and products, and also in pushing internal growth, said co-founder and CEO of Chariot, Nilay Mehrotra. Chariot is an innovative startup that provides end-to-end solutions by creating an IoT infrastructure through its platform and devices that connects to every sensing device and delivers patterns in data streams by comparing data results from the ...

11Apr By Sheldan RungasamyNo Comments

FUNDING

Mojro Raises $650000 Funding

Mojro, a one stop shop for all kind of urban logistics received a funding of $650,000 in a funding round led by 1Crowd and its investor community. The funds raised will be used to enhance their technology, expand their team, advertising and partnering with fleet owners. Urban logistics is increasingly becoming a big community problem and Mojra is aiming at offering a machine learning driven intra-city logistics planning and optimization platform that will help large and medium businesses in optimizing their logistics need such as how to utilize a fleet, or space or how to optimize their costs. Mojro signed several partnerships with fleet owners and are assisting them discover state-of-the-art techniques and ways to optimize service quality and provide the opportunity of planning a...

11Apr By Sheldan RungasamyNo Comments

FUNDING

TravelTriangle Raises Funding From Nandan Nilekani and Others

Travel Triangle, India’s fastest growing travel marketplace recently raised Rs 78 crore Series C funding from Fundamentum, a growth-capital fund for mid-stage tech startups in India financed by Nandan Nilekani and Sanjeev Aggarwal. This funding round also saw the participation of several existing investors such as SAIF Partners, Bessermer Venture Partners, RB investments and a handful of angel investors. This marks the first Fundamentum investment and the capital fund will join the board of TravelTriangle. The funds raised will serve to enhance the TravelTriangle’s technology as the firm looks into improving their customer interaction segment with Artificial Intelligence (AI) and machine learning. Data analytics will serve to set up a recommendation engine. The company is also lookin...

9Apr By Sheldan RungasamyNo Comments

FUNDING

BeYouPlus Raises Funding from Fortis Healthcare President

BeYouPlus, a Delhi-based health and wellness startup raised a funding round worth Rs 50 Lakhs from Fortis Healthcare’s president Daljit Singh who already invested in the company previously. The firm, which is headed by Dermacy Healthcare Private Limited, first allotted 14,664 equity shares at Rs 10 each for a premium of Rs 330.99 a share. A little more than a year ago, BeYouPlus, then known as MyDermacy raised a Pre-Series A round of funding from Chinese Venture Capital firm, Cyber Carrier for 15% equity shares of the company. BeYouPlus, founded in 2014 by Ankit Khurana is a beauty, cosmetic, and personal healthcare app that allows its user to share their skin, hair and cosmetic concerns with the company via their mobile app, and the firm will then provide quality treatments from app...

9Apr By Sheldan RungasamyNo Comments

FUNDING

DriveU Raises Funding From Ex-Google Inc Executive Amit Singhal

DriveU, a startup that specializes in providing private drivers on-demand, recently secured Rs 1.6 Cr in a Pre-Series A round funding led by ex google executive Amitabh and Shilpa Singhal’s investment vehicle, Living Trust. The startup operated by Humble Mobile Solutions Private Limited first allotted 6449 shares at Rs 10 each and a premium of 2,490. While it was rumoured that Amit Singhal and DriveU’s existing investor, Unitus Seed Fund had invested about Rs 20 crore in the startup, it actually seems that the total about of this funding round amounted to Rs 1.6 Cr only. Since inception, DriveU has raised a total of INR 22 Cr from its investors. DriveU is a startup that focuses in providing professional drivers who know the city in and out to its clients who don't want to have the tr...

6Apr By Sheldan RungasamyNo Comments

FUNDING

Startup Improving Lives of Diabetics Raises Funding

BeatO, a platform dedicated in catering and facilitating the lives of diabetes patients recently raised an institutional round of funding worth $1.3 million led by Leo Capital in partnership with Blume Ventures. "We are extremely excited to associate with partners like Leo and Blume. India is expected to have 100M diabetics by 2030. This puts tremendous pressure on all stakeholders in the healthcare eco-system both from a cost and well-being perspective to specially cater to this large demographic. This funding is a re-enforcement to the fact that we are solving a problem of massive scale," said Gautam Chopra, co-founder and CEO, BeatO. BeatO makes use of smartphones, its app and a gluco-meter to monitor blood glucose in its patients along with the follow through of its experts. They...

Multibhashi Raises Fresh Capital From Existing Investors

3Apr By Lavina TolaniNo Comments

FUNDING

Multibhashi Raises Fresh Capital From Existing Investors

Multibhashi, a language learning platform, based in Bangalore and Jaipur, has raised a funding of Rs. 60 lakhs from existing investors Aniruddha Malpani and CIIE Initiatives. The startup focuses on making language learning simple, easy and enjoyable via its mobile-based interactive application. Starting March 28, 2017, Multibhashi Solutions Private Limited allocated 1284 preference shares priced each at Rs. 10 and a premium of Rs.4664.88 per share. The startup was successful in raising a seed of Rs. 75 lakhs early in September 2017. In addition to Aniruddha Malpani and CIIE Initiatives, Suresh Chandra Koolwal had also participated in the round. While early in April 2017 the company had raised a seed of Rs. 1 Lakh where notable investors were Devendra Agarwal and Anuradha Agarwal. ...

3Apr By Sheldan RungasamyNo Comments

FUNDING

Paytm Mall Raises $445 Mn Funding From SoftBank and Alibaba

Paytm has been all over the landscape these past few weeks and days with major consecutive news announcements. This time, Paytm mall, the e-commerce daughter business of Paytm has raised over $445 Mn in funding from Japanese conglomerate SoftBank and Alibaba, the Chinese e-commerce giant. Regulatory filings reveal that SoftBank has been the major investor in this round, funding around $400 Mn of the total amount while Chinese company, Alibaba, fueled the rest. The first tranche of $55 Mn has already been sent to Paytm Mall’s account. Paytm Chief Operating Officer, Amit Sinha confirmed the news in a media statement saying, “This latest investment led by SoftBank and Alibaba reaffirms the strength of our business model, growth trajectory, execution capability and the potential of India...

2Apr By Sheldan RungasamyNo Comments

FUNDING

Veritas Finance Receives 23 crore funding from Belgium Firm

Veritas Finance, a Non-Banking Financial Company (NBFC) based in Chennai received Rs 23 Crore as in debt financing from Incofin Investment Management which is a fund manager company based in Belgium. The NBFC first allotted 230 Non-Convertible Debentures (NCDs) worth Rs 10 lakhs each on March 26, 2018. So far, Veritas Finance raised over Rs 268.8 Crore from a group of investors that include CDC Group, Swiss Fund, AAV Sarl and Lok Capital in equity and debt financing. Incofin Investment Management is a company that manages funds and investments in developing countries motivated in promoting inclusive progress. The company relies on investors that include leading development funds, banks, insurance companies, pension funds, high net worth and retail investors. The firm is famous for in...

2Apr By Sheldan RungasamyNo Comments

FUNDING

Mumbai-Based Cannabis Company Raises 3.08 Crore Funding

Bombay Hemp Company Pvt Ltd. (BOHECO), raised Rs3.08 Crore capital from Ginni International Limited, a textile company based in Hong Kong and existing investor, Mukhtar Tejani of Gits Food. The company had previously allotted 308,063 shares worth Rs100 each. BOHECO previously raised 6.25 crore from a group of investors that included the notorious Ratan Tata, Chairman emeritus of Tata Sons and Sanvar Oberoi, Google India’s managing director. The company specializes in the study of cannabis for medicinal purposes. It began establishing its business-to-consumer apparel brand B Label made from cannabis and another branch of business-to-business textiles made from cannabis such as fabrics, fibers and yarns and hemp seed products as well. The company, in partnership with the Council of Sci...

31Mar By NitishNo Comments

FUNDING

Employee Engagement and Benefits Startup Raises Seed Funding

Gurgaon based HR Technology startup Benepik that provides a mobile-based solution for Employee Communication, Engagement, Rewards and Recognition, has raised an undisclosed amount in seed funding. Benepik has raised the seed funding from a group of investors including Vishal Bali. Vishal is a serial investor and has invested in several startups including Bengaluru based Health Tech start-up Feet Apart. Delhi-based HR Leader Yogesh Misra and a Delhi based HNI also participated in the round. Benepik was founded in 2015 as an Employee Benefits platform. Saurabh Jain, Founder & CEO is an alumnus of Delhi School of Economics and has worked in consulting and technology practices at Capgemini, Deloitte and UNDP across India & Europe. In the last two years, Benepik has evolved ...