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Fintech Startup MoneyTap Raises $12.3 Million From Sequoia India

15Jun By PriyankaNo Comments

FUNDING

Fintech Startup MoneyTap Raises $12.3 Million From Sequoia India

Fintech firm MoneyTap today said it has raised USD 12.3 million (over Rs 78 crore) from Sequoia India and existing investors, NEA and Prime Venture Partners. "With this fresh funding, MoneyTap plans to solidify its leadership position by improving credit accessibility for other segments of customers, partnering with six other banks and NBFCs and expanding to 50 cities in India by the end of 2017," MoneyTap said in a statement sent to Pixr8. It added that the company is also on target to issue credit lines worth Rs 300 crore by the end of the current fiscal. The app-based consumer credit line has over three lakh users. The Indian consumer finance market is estimated to grow at a compounded growth rate of 18 per cent to become a USD 1.2 trillion opportunity by 2020, it said. With close t...

14Jun By AnkitaNo Comments

FUNDING

Bengaluru Based Goodera Raises $5.5 Million Funding From Nexus Venture, Omidyar

Goodera, a global CSR & Sustainability Management technology platform, co-headquartered in Bangalore and Menlo Park, today announced its Series A round of funding of $5.5mn from Nexus Venture Partners and Omidyar Network. Varsha Rao, previously Head of Global Operations at Airbnb also participated in this round along with other prominent angels. Goodera is a CSR Lifecycle Management platform embedded with strong domain expertise, providing corporates automation and intelligence across monitoring and evaluation, impact measurement, grant making, reporting and employee volunteering. Goodera solves the critical need for corporates and non-profits to have last mile visibility of progress and impact measurement of their CSR projects. It enables effective governance in deciding and mana...

14Jun By PriyankaNo Comments

FUNDING

E-commerce Technology Provider Shopmatic Raises $5.7 Million Funding

E-commerce technology provider Shopmatic today said it has raised USD 5.7 million from a group of investors led by venture capitalist firm ACP Pte Ltd and Spring Seeds Capital. The company will use this fund to expand its global footprint. "Shopmatic..has raised USD 5.7 million of Series AA funding led by ACP Pte Ltd, a technology focussed Venture Capital firm, and Sping Seeds Capital Pte," the company said in a statement. The technology firm at present has operators in India, Singapore and Hong Kong. "After having successfully scaled its operations in India, Singapore and Hong Kong, Shopmatic will be using the funds to expand into other markets in Indonesia, the Philippines and the Middle East," the statement said. As part of this round of funding, ACP Managing Partner Same...

13Jun By AnkitaNo Comments

FUNDING

PeeSafe Raises $1 Million Funding Led by Venture Catalysts & Others

Toilet hygiene global brand, PeeSafe, run by Redcliffe Hygiene, has raised USD 1 million from Mumbai-based Venture Catalysts, Alfa Capital, Green Shots Capital, and Real Time Ventures. Angel investors who participated in the round include Harshita Mehta Jain, vice president at Redcliffe Capital, Amit Choudhary, partner, Motilal Oswal Private Equity and Govind Rajan Parthasarthy, former CEO of FreeCharge, among others. FMCG distribution companies like Quadrant also participated in the round driving retail distribution across one lakh stores, a company statement said. This investment validates disruption in FMCG typically led by incumbents mostly where hygiene and wellness is new wave of product portfolio with new models of distribution. PeeSafe got interest from global retailer and...

Tata Owned Jaguar Unit Invests $25 Million in Lyft

13Jun By AdityaNo Comments

FUNDING

Tata Owned Jaguar Unit Invests $25 Million in Lyft

Tata Motors-owned Jaguar Land Rover (JLR) has invested USD 25 million (over Rs 160 crore) in Lyft, the fastest-growing rideshare company in the US. The investment by InMotion Ventures, a part of JLR, will support Lyfts expansion and technology plans, the UK-based luxury carmaker said in a statement. The initiative will also provide InMotion Ventures with the opportunity to develop and test its mobility services, including autonomous vehicles, and to supply Lyft drivers with a fleet of Jaguar and Land Rover vehicles, it added. "This is a strategic investment for both parties as we focus on innovating new mobility solutions for our customers. Collaborating with an expanding technology business like Lyft is going to help us both accelerate our ambitions," JLR Executive Director of Co...

How Loan Frame Funding For Business Boosting MSME Sector in India

10Jun By AnkitaNo Comments

News

How Loan Frame Funding For Business Boosting MSME Sector in India

Micro, small and medium enterprises have a vital role in providing employment opportunities in India. The MSME sector also has a relatively lower capital cost compared to large industries. They also help in the development and industrialisation of rural areas. However, one major challenge that the sector faces at present is the non-availability of fast business loans and loans for UK companies.. Despite the difficulty of funding for business, MSMEs have been flourishing in recent years. The Indian economy is expected to become one of the leading economies in the world. Experts have estimated that the by 2025, the economy will hit the $5 trillion mark. And the backbone of the economy is the MSME sector. Challenges that the MSME Sector Faces MSME sector provides job opportunities,...

9Jun By AdityaNo Comments

FUNDING

Online Travel Destination Platform Guiddoo Raises 2 Crore Funding

Guiddoo an in-destination platform that offers information on tours and activities, dining and shopping options to Indian travelers going abroad has raised USD 300,000 (about Rs 2 crore) from a clutch of investors. The company would utilise the funds to support product and technology development through its newly-opened technology and data unit based in Pune, according to a statement. Part of the funds would also be utilised towards building pan-India distribution for its tours, activities and holidays products. "Guiddoo has raised funding of USD 300,000 in Pre- Series A funding by existing investors Pawan Borle and Nirmal Singh as well as new investors including Manish Prasad, Vineet Varma, Nick Haulkoury, and Abhai S. Rao," the statement added.

8Jun By AdityaNo Comments

FUNDING

Online Education Firm Coursera Raises $64 Million Funding

Online education firm Coursera has raised USD 64 million from GSV Asset Management, New Enterprise Associates (NEA) and Kleiner Perkins Caufield Byers (KPCB), among others. The series D funding round also saw participation from Learn Capital and Lampert Foundation, Coursera said in a statement. The new funding takes the company's total capital raised to date to USD 210.3 million. Coursera has over 26 million registered learners globally. Coursera will use the latest round to fund efforts in its fast-growing enterprise business (Coursera for Business), to expand its masters degree portfolio, and to accelerate product innovations, it said. "This round of funding enables us to continue innovating across our platform to deliver better learner outcomes, and to accelerate the momentu...

NetApp Launches NetApp Accelerator in India

8Jun By PriyankaNo Comments

News

NetApp Launches NetApp Accelerator in India

NetApp today announced launch of NetApp Accelerator programme, the company's first startup accelerator here, which will provide startups with access to productivity tools and networking opportunities with potential investors. The programme will provide an equity-free grant of USD 15,000 to these startups on completion of the programme, NetApp India Senior Vice President and Managing Director Deepak Visweswaraiah said in a statement here. "What is more is that the startups can own their IP (Intellectual Property) and NetApp would not seek a stake in the same," he added. The programme will provide startups with access to collaboration and productivity tools, co-working space out of the company?s global centre of excellence in Bengaluru as well as networking opportunities wit...

7Jun By reutersNo Comments

FUNDING

Pinterest Raises $150M Funding, Valuing Company at $12.3 Billion

Pinterest, which develops visual search technology and allows users to save images on its website, has raised $150 million from existing investors in its latest round of funding valuing the company at $12.3 billion, a company spokeswoman said on Tuesday. The latest funding round has increased the company's valuation from $11 billion when Pinterest raised $367 million in March 2015. Pinterest, which was founded in 2010, introduced a new search tool in early February called Lens to boost its advertising revenue. Lens helps users to discover ideas inspired by objects in the real world that are detected through a device camera. The additional capital will be used for further investments in visual technology and global expansion, the spokeswoman said in a statement over email. The S...

BHIVE Co-Working Space Raises $1.2 Million From Blume Ventures

5Jun By AdityaNo Comments

FUNDING

BHIVE Co-Working Space Raises $1.2 Million From Blume Ventures

Leading co-working and shared office space provider BHIVE Workspace has raised USD 1.2 Million in a fresh round of funding, to fuel its pan-India and international expansion of premium co-working spaces. The latest round is led by Blume Ventures, along with marquee investors like Actor-Director Ramesh Aravind, Mr. Meera Reddy, MD of SKCL and other high net-worth individuals. In an earlier funding round in 2015, BHIVE raised around USD 1 Million from Blume Ventures and high profile investors like Raghunandan G, Founder, TaxiForSure; Rajesh Rai, Venture Capitalist; Arihant Patni, Managing Director, Hive Technologies; Sanjay Mirchandani, Owner, Mirchandani Group; Arun Narayan, Director, UK India Business Council; among others. "In the last two years, we've expanded our co-working space ...

2Jun By reutersNo Comments

FUNDING

SoftBank Invests in Industrial Software Firm OSIsoft

SoftBank Group Corp said on Wednesday it was taking a significant minority stake in OSIsoft LLC, a privately held maker of industrial software used to manage plants and factories. The world's largest industrial companies, from General Electric Co to Siemens AG, have been incorporating more software into their manufacturing to cut costs and improve their supply chains. SoftBank is buying out venture capital investors KleinerPerkins Caufield & Byers, TCV and Tola Capital, it said in a statement. Japan's Mitsui & Co will remain an investor. The investment is in the "high hundreds of millions" and values OSIsoft at several billion dollars, people familiar with the matter said on condition of anonymity because of the confidential terms. SoftBank and OSIsoft declined to comme...