Tuesday, May 28

Tag: IDG ventures

Rental Platform Flyrobe Raises $3.71 million in a Fresh Funding Round
FUNDING

Rental Platform Flyrobe Raises $3.71 million in a Fresh Funding Round

Online fashion rental marketplace Flyrobe that is based in Mumbai has reportedly raised around $3.71 million (Rs 26.06 crore) in a fresh funding round. The investors who led the funding round were IDG Ventures and Sequoia Capital. Another existing investor that participated in the round included Tokyo-based GREE Ventures. Following this deal, the valuation of the company has reached roughly around Rs 155 crore ($21.6 million). However, it has not been mentioned that whether this is the firm’s Series B round of funding or if this capital raise was part of a larger investment round. Flyrobe is an online rental platform for apparels which is operated by Omapal Technologies. It was founded three years ago in 2015 by Shreya Mishra, Pranay Surana and Tushar Saxena. The last time that th...
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...
SigTuple rasies $19 Mn Funding From Accel and IDG Ventures
FUNDING

SigTuple rasies $19 Mn Funding From Accel and IDG Ventures

SigTuple, an AI-based healthcare startup has raised 19 million i.e approximately Rs. 130 crores in a Series B round led by IDG Ventures and Accel Partners. The investment round also saw participation from pi Ventures, Flipkart’s executive chairman Binny Bansal, Endiya Partners, Axilor Ventures. The Bengaluru-based company plans to use the funds in the expansion of assembly and distribution of AI100 along with research and development of new solutions that can boost its reach and market presence. Rohit Kumar Pandey, chief executive at SigTuple said, The major chunk (of the money) will go into setting up a manufacturing pipeline so that we can put more devices in the market. We have applied for US FDA and CE certification. Once we go through the stage, it will require more clinical tr...
Lenskart Looking to Invest $3 Million in Eye-Tech Startups
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Lenskart Looking to Invest $3 Million in Eye-Tech Startups

Online eyewear firm Lenskart has earmarked about USD 2-3 million to invest in companies that are either working on product or technologies that can help to provide affordable eye care solutions. As a part of the strategy, firm backed by Ratan Tata, Lenskart has invested about Rs. 3.3 crores in US-based ThinOptics. The intent of investing in early-stage startups is to collaborate in the development of innovative products. Peyush Bansal, Lenskart founder and chief executive said, We will invest USD 2-3 million. The companies where we are looking to invest could be either tech or product based working on eyecare solutions, be it an innovative eye examination machine or some kind of a lens technology. Lenskart had earlier picked up a minority stake for over USD 1million in 6over6, an I...
Mumbai-based Robotics Company Miko Raises $2 Million Funding
FUNDING

Mumbai-based Robotics Company Miko Raises $2 Million Funding

Emotix, a revolutionary robotics, and consumer electronics company raised a funding round of over $2 million from IDG Ventures India and YourNest. This funding round also saw the participation of existing angel investor, Keshav Murugest, Executive Officer of WNS Global Services. Emotix, a Mumbai-based company now claims leadership over the social robotics market after taking the technology of robotics assistance a level further by incorporating emotion into its interface. The robot is powered by non-verbal cues like motion or physical gestures which facilitates human interaction a level ahead. The startup’s first companion robot, intended for children received very positive feedback few months after its launch. "The recent investment from funds advised by IDG Ventures India and YourN...
Content platform YourQuote raises $1M seed funding led by IDG Ventures
FUNDING

Content platform YourQuote raises $1M seed funding led by IDG Ventures

YourQuote, an original content and digital community platform, today said it has secured USD 1 million in seed funding, led by IDG Ventures India. The round also saw participation from Atul Goel of Essel City Group and Axilor, founded by Infosys co-founders Kris Gopalakrishnan and S D Shibhulal, a statement said. Started by IIT-Delhi alumni Harsh Snehanshu and Ashish Singh in early 2017, YourQuote has an overall user base of over 500,000 users from across India. With over 4.5 million posts (original video and written content) in more than 15 languages, the platform has seen monthly growth of 20-30 per cent. "There is a very apparent dearth of expression-oriented original content platforms in India. YourQuote was started off to plug that gap by giving Indians a stage for self- e...
SaaS Startup Hevo Data Raises $1M Seed Round Funding
FUNDING

SaaS Startup Hevo Data Raises $1M Seed Round Funding

Data Integration platform Hevo Data has raised $1 million in a round of seed funding from IDG Ventures India, according to the latest press releases. Founded by the Manish Jethani(CEO) and Sourabh Agarwal(CTO), who previously launched SpoonJoy, an on demand food delivery app in India, the cloud-based SaaS(Software as a Service) startup that leverages machine learning to understand the source model for various data sources(databases, sensor data and cloud applications). Its cloud-neutral products run on Amazon Web Services, Google Cloud as well as Microsoft Azure. Having run food delivery startup before, the duo realized the shortcomings and problems that a typical delivery system faces. They needed to analyze and draw data from many sources such as Google Analytics, Mixpanel, Zendesk...
Health Platform CureFit Raises $25 Mn In Fresh Funding From Existing Investors
FUNDING

Health Platform CureFit Raises $25 Mn In Fresh Funding From Existing Investors

Myntra co-founder Mukesh Bansal and former Flipkart executive Ankit Nagori's health and fitness platform CureFit, has raised a fresh round of funding of $25 million from existing investors Accel Partners, Kalaari Capital, IDG Ventures and UC-RNT fund, a joint investment vehicle of the University of California and Ratan Tata's RNT Associates. The new round expects to go up to $35-40 million in the next 6 months, according to a source familiar with the matter. CureFit will use the fresh funding to expand the Cult centers into other cities, starting with Gurgaon in October and will also try to add a new product to medical examinations and primary health care under the Care.fit brand by the beginning of 2018,both the cofounders said. ALSO READ   McDonalds Dispute Puts C...
Blowhorn Raises Rs 25 Crore From IDG Ventures & Others
FUNDING

Blowhorn Raises Rs 25 Crore From IDG Ventures & Others

Intra-city logistics start-up, Blowhorn, has raised USD 3.65 million (about Rs 25 crore) from IDG Ventures India, Michael & Susan Dell Foundation and existing investors Draper Associates and Unitus Seed Fund. The company plans to utilise the proceeds from the Series A funding to expand operations to eight cities in the next 24 months, with over 25,000 daily active drivers, Blowhorn said in a statement. Founded in 2014 by Mithun Srivatsa and Nikhil Shivaprasad, Blowhorn offers a tech-enabled platform to connect customers to mini-truck owners, enabling intra-city, sub 2-tonne deliveries. The company has 50 full-time employees and is present in Mumbai, Bengaluru, Chennai and Hyderabad. "We have been able to leverage technology and operational innovation to emerge as a market leade...
CloudCherry Receives $6M in Series A Funding from Vertex Ventures, Cisco Investments & IDG Ventures India
FUNDING

CloudCherry Receives $6M in Series A Funding from Vertex Ventures, Cisco Investments & IDG Ventures India

Customer Analytics Technologies Inc., owner of SaaS-based Customer Experience Management platform CloudCherry announced today that it has raised their Series A Funding of $6M from Vertex Ventures, Cisco Investments and IDG Ventures India. This capital infusion will be used for CloudCherry’s global expansion, with a strong focus on the US, South East Asia and the Middle East. CloudCherry’s CEM platform is enjoying tremendous success in Asia already, with many leading brands using the platform to understand Customer Experience today. The product is also seeing exciting early wins in the North American markets and is set to welcome many more soon. CloudCherry was founded by Vinod Muthukrishnan, Vijay R Lakshmanan, Prem K Viswanath and Nagendra CL, with the support of angels Prof. Sriram Su...
Online Rental Solution RentoMojo Has Raised $5 Million From IDG Ventures and Accel Partners
FUNDING

Online Rental Solution RentoMojo Has Raised $5 Million From IDG Ventures and Accel Partners

RentoMojo, an online rental solution startup has raised funds of $5 million in a first strategic round (Series A) from IDG Ventures and Accel Partners. Since its inception in November 2014, the Bengaluru headquartered company has expanded to three more cities - Delhi, Mumbai and Pune. The funds raised will be used to further strengthen the product and data driven structure within the company, it said in a statement here on Monday. "We want our users to indulge in the benefits of curated, personalised lifestyle without actually owning it. Apart from the cities we are operating in currently, we plan to expand to two more cities in the coming quarter," said Bamania, founder of RentoMojo. Geetansh Bamania is a serial entrepreneur and has worked with e-commerce majors such as Flipkart a...