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MagicX Raised $1million (Rs 6.6 crore) From Infosys Co-founder Kris Gopalakrishn

12Apr By No Comments

FUNDING

MagicX Raised $1million (Rs 6.6 crore) From Infosys Co-founder Kris Gopalakrishn

MagicX, an on-demand chat-enabled app to manage day-to-day tasks, today said it has raised USD 1 million (about Rs 6.6 crore) from marquee investors including Infosys co-founder Kris Gopalakrishnan, Manipal Education and Medical Group MD Ranjan Pai. The fund raised will be used for team expansion, marketing initiatives, addition of service categories and technology up gradation, MagicX said in a release. "The backing weve received from some of the smartest investors and entrepreneurs in the business will help us build on our cutting-edge technology platform. We will also use some of the funds to market our app to the right audiences," MagicX Co-founder and CEO Pratyush Prasanna said. The company is also in talks with four venture capital firms to raise a USD 5 million Series A round....

11Apr By NitishNo Comments

FUNDING

Ritesh Aggarwal Led Oyo Rooms Raised $100 million Funding

At a time when startups and companies facing economy jolt, Oyo rooms led by Ritesh Aggarwal has raised $100 million in its fifth round of funding. The investors, including Japan’s Softbank, and an international sovereign fund, a person with knowledge of the deal said. Other investors are Sequoia Capital, Lightspeed Venture Partners, Greenoaks Capital, DSG Consumer Partners and Venture Nursery also participated. In the three years since it was founded, Oyo has emerged as the largest aggregator of hotel rooms in India. It has 65,000 rooms in 5,500 hotels across 177 cities. The company has already raised a total of $125.65 million in four rounds earlier. It recently acquired rival Zo Rooms, which made almost similar revenue, and was funded by Tiger Global. The business of hotel aggre...

DTDC Express Invested $1 million in Logistics Firm Shipsy

6Apr By AdityaNo Comments

FUNDING

DTDC Express Invested $1 million in Logistics Firm Shipsy

Logistics major DTDC Express has picked up 20 per cent stake in Gurgaon-based Llama Logisol, which operates logistics solutions provider Shipsy, for over USD 1 million (Rs 6.65 crore). Shipsy was founded in June last year by IIT graduates, Soham Chokshi, Dhruv Agrawal, Maharshi Devraj and Himanshu Gupta. Abhishek Chakraborty, Executive Director of DTDC Express, said the investment in Shipsy would go a long way in helping it adopt disruptive technologies. "DTDCs investment in Shipsy would go a long way in helping itself adopt disruptive technologies in its future growth segments of eCommerce and e-fulfilment," Chakraborty added. In September last year, Shipsy had received angel funding from Dheeraj Jain, the managing partner of Redcliffe Capital. After Jain came on board, Ship...

4Apr By AnkitaNo Comments

FUNDING

Housing.com Received New Funding From Ex-99Acres.com Head

Vineet Singh, an active angel investor and former Business Head of 99 Acres.com Invested an undisclosed amount in SoftBank funded online real estate portal Housing.com. Mr. Singh will join the Housing board as a senior advisor. "Vineet brings with him enriching experience, deep understanding of the ecosystem, and a decade of high-achieving sales leadership in the online real estate space. On board as a personal investor, Vineet will also serve as a senior advisor to the company working closely with the management team. We believe that his association will further fuel the ambitious growth plans of Housing.com," said Jason Kothari, chief executive officer, Housing.com. Currently, Singh is co-founder, CEO and MD of Buildczar.com, a marketplace for building materials and finishing produ...

1Apr By AnkitaNo Comments

FUNDING

Mashable Received $15 Million Funding From Time Warner

The News website Mashable (digital media) received $15 million funding round from Time Warner Inc.’s Turner division (traditional TV network). Mashable will use the latest funding round to expand its video offerings, including on traditional TV, and enhance its advertising capabilities, according to the statement. The funding will also use to co-develop and distribute video content of Turner’s TBS, TNT channels and Mashable. Both companies will work together on new technology and advertising opportunities, according to a statement Thursday. In addition, Kevin Reilly, chief creative officer for Turner Entertainment and president of TBS and TNT, will join Mashable’s board. Turner and other media companies are looking to digital publishers to reach younger audiences that may not subs...

Spotify Raises $1 Billion in Funding: Report

31Mar By PriyankaNo Comments

News

Spotify Raises $1 Billion in Funding: Report

AFP- Music streaming giant Spotify has raised $1 billion (roughly Rs. 6,632 crores) in convertible debt from investors, with strict conditions, the Wall Street Journal reported late Tuesday. Private-equity firm TPG, hedge fund Dragoneer Investment Group and clients of Goldman Sachs are taking part in the deal, the paper said, citing people familiar with the transaction. Convertible debt are bonds that can be exchanged for stock. If Spotify holds a public offering in the next year, TPG and Dragoneer will be able to convert the debt into equity at a 20 percent discount to the listing price, the Journal reported. Spotify will pay annual interest starting at five percent, increasing by one percentage point every six months until the company goes public, or it hits 10 percent, it ad...

22Mar By reutersNo Comments

FUNDING

BigBasket Raises $150 Million in Funding Led By Abraaj Group

Grocery delivery service BigBasket has raised $150 million in fresh funding in a round led by UAE's Abraaj Group as the company looks to expand its services into smaller cities, the investor said. Existing investors Bessemer Venture Partners and Helion Advisors along with International Finance Corp and Sands Capital participated in the round, Abraaj said in a statement. Online grocery sales is a fast-growing segment in India's e-commerce industry as more consumers log in to the Internet for their purchases. Rival Grofers, an app-based service that connects local stores to customers, raised $120 million from Japan's Softbank last year to expand operations. Amazon.com Inc, which is aggressively investing in India, also launched a grocery delivery pilot in Bengaluru late last y...

CarDekho Parent Company Girnar Software Bags Funding From Google Capital

21Mar By PriyankaNo Comments

News

CarDekho Parent Company Girnar Software Bags Funding From Google Capital

Underlining its status as one of India's leading Internet companies Girnar Software has topped auto portals like CarDekho.com, Gaadi.com and Zigwheels.com. The companies recently received an investment from Google Capital with participation from existing investor Hillhouse Capital. With CarDekho firmly placed as the clear leader in the area of new and used auto solutions in India, a major part of the new funding will be used to further bolster technology, Research and Development and expansion within and outside of India. Having launched its services beyond Indian borders with the launch of CarBay.com in Malaysia, Thailand, Vietnam, Philippines and Indonesia, Girnar Software will be looking to consolidate its presence in India as well as other emerging economies in Asia and the Middl...

8Mar By AdityaNo Comments

FUNDING

Home Healthcare Startup, Healers At Home Raises Funding From Daljit Singh (President, Fortis Healthcare) & Others

Delhi-based home health care service startup, Healers At Home, has raised an undisclosed amount of funding from Daljit Singh (President, Fortis Healthcare), Dr. Pramath Raj Sinha (Founder, ISB), BVR Mohan Reddy (Chairman at NASSCOM & Director on the Board of Hyderabad Angels) and a few more angel investors. Founded in June 2014, Healers At Home, provides customers an easy access to affordable yoga & physiotherapy home services. Besides, Delhi-based coworking space provider, 91springboard, also played an integral role in the growth story for the healthcare startup. Speaking on the development, Kshitij Garg, founder of Healers At Home said, “The plan is to become the market leader in the current set of services and introduce nursing in near future.” The startup will use the f...

Ninjacart Raised 20 Crores From Accel Partners To Fight For Farmers

7Mar By AdityaNo Comments

FUNDING

Ninjacart Raised 20 Crores From Accel Partners To Fight For Farmers

BENGALURU: Ninjacart a Bengaluru-based online platform has raised Rs 20 crore in a funding round led by Accel Partners. The Funding round also saw participation from Qualcomm Ventures, Singapore-based M&S Partners and ZopSmart, the parent of online grocer ZopNow.that connects farmers and brands to retailers, has raised Rs 20 crore in a funding round led by Accel Partners. Ninjacart platform connects farmers and brands to retailers, which helps supermarkets and kirana stores to source fresh fruits and vegetables from farmers and brands. Ninjacart will use funding to hire talent, invest in supply chain infrastructure and technology. Thirukumaran Nagarajan, chief executive officer at Ninjacart said "Due to marginal farming, poor logistics and zero market information, a number of m...

5Mar By RishabhNo Comments

FUNDING

Snapchat Raises $175 Million Funding from Fidelity at Flat Valuation

Snapchat Inc. which makes a free app called Snapchat for sharing quick disappearing images and videos has recently raised a funding of $175 M from Fidelity at a $16 billion valuation, according to the Wall Street Journal. The catch is that Snapchat’s last round of funding in May 2015 reportedly valued the company at $16 billion, a 60% bump from its previous round in December 2014. Fidelity bought shares at $30.72 in February after paying that price last March. In the fourth quarter, a separate valuation committee at the mutual fund brought down the shares to $25.75. (more…)

4Mar By RishabhNo Comments

FUNDING

Social Discovery App Raises $5 Million Angel Funding From HNI

Shouut, a social discovery and sharing app, offered by Giant Tech Labs Pvt. Ltd. has raised $5 Million in angel funding from an undisclosed High Net-Worth Individual angel investor, based in India. Founded by Praveer Kochhar, Shouut is an app that enables its users to discover and share amazing places or experiences in their instant vicinity, the platform also enables amplification of business deals to users around their business location. The Shouut app after undergoing around 10 months of development phase, was finally launched in February 2016 at Google’s Play Store. (more…)