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EdGE Networks Raises $4.5M, Plans To Strengthen Tech

30Oct By PriyankaNo Comments

FUNDING

EdGE Networks Raises $4.5M, Plans To Strengthen Tech

HR technical solutions provider company- EdGE Networks has recently raised $4.5 million in a Series A round of funding from Kalaari Capital, with Ventureast as a co-investor. The company said it will use the Series A capital to strengthen its core product offerings for workforce optimisation and talent acquisition. Geographical and vertical expansion are two areas that the company will pursue across the next phase of growth, EdGE Networks said in a statement. “AI-driven solutions are fast taking main-stage in solving real problems faced by enterprises and opening up opportunities for step changes in business processes and cost innovations. EdGE Networks is at the forefront of AI-led HR innovation and we are excited to partner with them on their journey.” said Sumit Jain, Partner at ...

13Oct By RishabhNo Comments

FUNDING

On-demand Ambulance Service Startup StanPlus Raises $1.1 Mn Seed Funding

Hyderabad based on-demand ambulance service startup announced that it raised an investment of $1.1 million seed funding from Kalaari Capital’s Seed Fund Kstart and INSEAD Angels Asia. The round also saw participation from CM Diamant, a chain of medical centres and hospital in Canada and Africa. The funds will be utilised to increase StanPlus' Advance-Life Support fleet and expand across geographies, innovation and to cover all medical transportation categories in near future. The funding will also be utilised to augment the technology front. "StanPlus’ approach to medical transportation is enterprising," says Muthiah Venkateswaran, Partner at Kstart, a seed fund initiative of Kalaari Capital, one of India’s leading Venture Capital firms. Founded in 2016 by three INSEAD MBA graduates ...

28Aug By RishabhNo Comments

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...

Online Financial Technology Marketplace Rubique Raised $3 Million

29Jun By AdityaNo Comments

FUNDING

Online Financial Technology Marketplace Rubique Raised $3 Million

Online financial technology marketplace Rubique today said it has raised USD 3 million (about Rs 19.38 crore) from its existing investors including venture capital firm Kalaari Capital. The company had last year announced that it intends to raise USD 10-15 million in a series B round. The funds will be used to strengthen technology product with data science methods and explore new product territories in insurance and mutual funds. The money has been invested by Kalaari Capital and Udayan Goyal, managing partner at Apis Partners, a financial services-oriented private equity firm, the company said in a statement. In April last year, Rubique had raised USD 3 million in series A from Kalaari Capital, YourNest Angel Fund, Globevestor and Dexter Angel Circle. "We will be leveragin...

Snapdeal Sale: Softbank a Step Closer to Bring Nexus on Board

10May By Press Trust of IndiaNo Comments

News

Snapdeal Sale: Softbank a Step Closer to Bring Nexus on Board

Japans SoftBank is believed to have moved a step closer to securing the consent of co- investor Nexus Venture Partners (NVP) for selling Snapdeal to Indias largest e-commerce firm Flipkart. A meeting was held today and the impasse over the sale could end soon, people familiar with the matter said. SoftBank the largest shareholder in Snapdeal has been making all efforts to get NVP on board for the sale of Snapdeal, and a breakthrough could come as early as this week. They added that while attempts have been going on for the past few weeks, NVP finally seems to be warming up to the idea. A board meeting is expected to take place tomorrow to deliberate upon the issue. E-mails sent to Snapdeal, SoftBank and NVP did not elicit any response. An yes from NVP is crucial for the deal to...

25Apr By AdityaNo Comments

FUNDING

Digital Community For Women POPxo Raises 20 Crore Funding

POPxo, a digital community for women, has raised Rs 20 crore (USD 3.1 million) in fresh funding, led by IDG Ventures India and Kalaari Capital. The investment round also saw participation from GREE Ventures (Japan), Summit Media (Philippines), Atul Goel and Gurpreet Singh, POPxo said in a statement today. POPxo had previously raised over Rs 15 crore in funding through multiple rounds from investors including IDG Ventures India, Kalaari Capital, Google executive Rajan Anandan, Caratlane executive Mithun Sancheti and others. "Our platform allows women to connect with others. We focus on leveraging our large user base to generate transactions beginning with affiliate e-commerce, across categories," POPxo founder and CEO Priyanka Gill said. The platform attracts over nine million users...

Struggling E-commerce Company Snapdeal Rope in SBI Caps and Kotak Mahindra Capital For IPO in 2019

1Apr By PriyankaNo Comments

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Struggling E-commerce Company Snapdeal Rope in SBI Caps and Kotak Mahindra Capital For IPO in 2019

Struggling ecommerce major Snapdeal has sounded out five merchant bankers, including SBI Caps and Kotak Mahindra Capital, to work on a public offer that is likely to hit the market in the second half of 2019. The third largest marketplace majority owned by Japanese giant SoftBank has also reportedly appointed Swiss investment banking major Credit Suisse as a special advisor for the share sale, people aware of the development told PTI. "The IPO process is on with in earnest and may open in the second half of calender 2019, depending on the market sentiment. The management has zeroed in on five i-bankers incluing SBI Caps and Kotak MahindraBSE 0.82 % Capital,"said the source. The source also said out of the five i-bankers sounded out, it will pick only one lead-banker that could be ...

After Raising 25 Crore, Bengaluru Based Eatfresh Shuts Down its Food Delivery Operation

6Jan By NitishNo Comments

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After Raising 25 Crore, Bengaluru Based Eatfresh Shuts Down its Food Delivery Operation

Bengaluru-based EatFresh, a food-tech startup operated by Chennai-based Ubiquitous Foods Pvt Ltd that also runs the bakery chain Ovenfresh, has shut down its retail food delivery services. The company had altogether raised Rs 25 crore from kalaari capital. The online food venture was launched in August 2015 by Rajiv Subramanian, an IIM-Ahmedabad alumnus and former investment banker with Lehman Brothers, operated a full-stack model and offered Indian and international cuisine in a daily rotating menu at nearly 20 locations in Bengaluru. It used to prepare food at a commissary kitchen and then send the products to 10 distribution hubs. Ovenfresh, a retail bakery chain founded eight years ago caters to 10,000 customers a day across 50 locations in Chennai and Bangalore, according to Su...

8Jun By AdityaNo Comments

FUNDING

CreditVidya Raises $2M Series A Funding From Kalaari Capital

Kalaari Capital, an early-to-mid-stage venture capital firm invested a Rs 13.3 crore funding in Mumbai-based startup CreditVidya. Creditvidya is a financial technology startup Infocredit Services, which operates credit score advisory platform. It has also received additional 1 crore from Paragon Partners, Siddharth Parekh, an early backer of the venture of the creditvidya in his personal capacity. The company will use the Series A funding to further build its technology platform, launch new products and expand its headcount, with a particular focus on ramping up its data sciences team. "India's demographic profile consists primarily of people without a credit history. CreditVidya's solutions enable lenders to increase profitability by more accurately assessing the credit risk o...

29Jan By No Comments

FUNDING

Truebil has raised 35 Crores Funding Led By Kalaari Capital and Others

BENGALURU: Truebil, an online market for buying and selling second-hand cars, has raised Rs 35 crore Series-A funding from venture capital investors Kalaari Capital, Inventus Capital and San Francisco-based Tekton Ventures. The rounds also participation from existing investor, Kae Capital. The Mumbai-based startup, whose founders include former Housing employees, is focused on peer-to-peer sales of cars unlike large classified players like CarDekho and CarTrade. "The difference between classifieds players and us is that we handhold a customer throughout the experience, helping close the transaction," said co-founder and CEO Suraj Kalwani. "One thing that we are convinced about is horizontal classifieds will start getting unbundled and specialised. Used-car sales is a large market...

Bangalore based Simplilearn acquires Silicon Valley start-up for $10 million

27Jun By AdityaNo Comments

News

Bangalore based Simplilearn acquires Silicon Valley start-up for $10 million

Simplilearn, a Bangalore-based Edu-tech start-up, which provides online certification courses to professionals, has acquired Market motive, a Silicon Valley-based startup, which trains professionals on digital marketing. Market Motive, founded in 2007, is led by Michael Stabbins, John Marshall and Avinash Kaushik. Simplilearn, which already has its presence in the US, is looking at the prospect of expanding its business further. Michael Stabbins, who would remain the CEO of Market Motive and work alongside as Chief Innovation Officer for Simplilearn. Simplilearn presently caters to professionals and young graduates in 150 countries through its 250 courses offered in various industry verticals. Market Motive boasts to have served fortune 500 companies through its web-based certificat...