Monday, May 20

Tag: Sequoia capital

Cold Pressed Juice Startup RAW Pressery Bags $6 Mn
FUNDING

Cold Pressed Juice Startup RAW Pressery Bags $6 Mn

Mumbai based RAW Pressery, run by Rakyan Beverages Pvt Ltd that provides cold pressed juices, has raised $6 million funding from its existing investors. The round saw participation from VC Firms-  DSG Consumer Partners, Sequoia Capital and Saama Capital. The four year old startup had earlier raised $4.5 million in a Series B round from Saama Capital, DSG Consumer Partners and Sequoia Capital. RAW Pressery will be utilising its funds to boost its monthly production capacity to 5.5-6 lakh litres from 3.5 lakh litres. A small part of the proceeds will be used to ramp up the company’s cold chain logistics infrastructure and for marketing campaigns as per the source Mint. Also Recommended Apple Hit With Trademark Lawsuit Over iPhone X "Animoji" Feature     The comp...
OncoStem Diagnostics Raises $6 Mn Funding From Sequoia Capital
FUNDING

OncoStem Diagnostics Raises $6 Mn Funding From Sequoia Capital

Bengaluru based oncology startup, OncoStem Diagnostics, has recently raised $6 million from VC firm Sequoia Capital India Advisors, a senior executive of the company said. OncoStem focuses on  personalized cancer treatment planning through the development of tests that try to effectively predict the chance of cancer recurrence in patients. It was founded by Manjiri Bakre in 2011. The startup earlier raised its first funding in 2011 from California-based VC firm Artiman Ventures which invested $3 million in the company in multiple tranches. “There are no affordable tests in India to accurately predict the risk of cancer recurrence. We aim to develop innovative and cost-effective tests that will help predict and assess the risk of recurrence in cancer patients, thus providing doctors ...
Sequoia Capital Backed 1mg Acquires Varanasi Based Dawailelo
ACQUISITION

Sequoia Capital Backed 1mg Acquires Varanasi Based Dawailelo

Sequoia Capital-backed online pharmacy 1mg has recently acquired Varanasi-based startup Dawailelo. The terms of the deal were not disclosed. “We are very keen on building a pan-India presence rapidly,” said Prashant Tandon, CEO of Gurgaon-based 1mg, which is pushing to expand operations in tier-II and -III cities. “The team at Dawailelo has done a great job understanding the requirements of the customers and has created a unique model that has shown great promise for tier II and III cities.” Founded by Aditya Agrawal (CEO) and Arpit Sarin (COO) in 2013, Dawailelo is a healthcare startup which helps people connect with medical stores, doctors, pathology labs through its website and app. The startup has huge potential, realizing which Pixr8 covered their story while they were still in t...
Software Provider Freshworks Acquires Sequoia Capital Backed Zarget
ACQUISITION

Software Provider Freshworks Acquires Sequoia Capital Backed Zarget

Cloud-based business software provider Freshworks (earlier Freshdesk) has acquired Zarget, a website analytics startup backed by marquee investors including Sequoia Capital. This marks the ninth acquisition by Freshworks in the past two years. This acquisition will help Freshworks focus on building marketing solutions for businesses of all sizes, although the terms of the deal were not disclosed. It had earlier acqui-hired chatbot start-up Joe Hukum, data integration platform Pipemonk and social media customer service firm Airwoot, among others. “A growing number of our customers have been asking us to help them in marketing initiatives. Today, our software powers customer engagement across every aspect of the customer journey -from acquisition to support. Acquiring Zarget will enable ...
Sequoia Capital Planning Its Exit From Noida Based Pine Labs
BUSINESS

Sequoia Capital Planning Its Exit From Noida Based Pine Labs

American venture capital firm Sequoia Capital is exploring the options to sell out its portfolio company Pine Labs, one of the country's largest PoS (point of sale) solutions provider. According to the sources reported to ET, Sequoia Capital, who presently owns two-third of this Noida based startup, is targeting a valuation of about $1 billion for it to completely exit the company. In case, such valuation demands are not met, the Menlo Park-based Powerhouse is also considering a partial stake sale in the company in which it had initially invested $1 million in 2009. Avendus Capital has been given the mandate to raise $100 million for a minority stake. "The formal mandate that is ongoing is for a stake sale. Currently , the company is being valued at $600-700 million by peers but ...
Digital Health Platform 1mg Raises $15 Mn Series C Funding
FUNDING

Digital Health Platform 1mg Raises $15 Mn Series C Funding

E-pharmacy startup 1mg Technologies has raised $15 million funding in Series C from a clutch of investors, led by global healthcare focused fund HBM Healthcare Investments. This round of investment also saw participation from existing investors- Sequoia Capital, Maverick Capital Ventures, Omidyar Network and Kae Capital. The funds raised will be used by 1mg to launch predictive healthcare and corporate wellness products. “1mg was HBM’s first investment in a digital health platform in India and we are very encouraged about the prospects of the company, given the tremendous progress across all dimensions over the past year,” said Andreas Wicki, chief executive officer of Switzerland-based HBM Healthcare. HBM had first invested in 1mg in May 2016 as a part of a top-up round following ...
Zoomcar Raises $24 Million Fresh Funding From Ford Motor
FUNDING

Zoomcar Raises $24 Million Fresh Funding From Ford Motor

Zoomcar, a Bengaluru-based self-drive car rental company raises $24 million (about Rs 160 crore) funding led by Ford Smart Mobility, a subsidiary of Ford Motor Company. Existing investors Sequoia Capital, Nokia Growth Partners (NGP) and Empire Angels also participated in the round. Zoomcar, which competes with Carzonrent and JustRide, lets users rent cars by the hour or day. It hopes to reach a fleet size of 25,000 in 25 cities by 2018. "We are at an inflection point. Currently, we have 2,000 cars with a presence in 7 cities. We are planning to launch in Kolkata soon and go to more tier-2 cities and penetrate deeper in existing cities," said Greg Moran, who moved from New York to Bengaluru in 2013 to start Zoomcar. This is Ford's first such investment in India. It has been Zoomca...
Nasper is Set To Acquire Citrus Pay For $180 Million
ACQUISITION

Nasper is Set To Acquire Citrus Pay For $180 Million

Citrus Pay, founded by Jitendra Gupta and Satyen Kothari in 2011 set to acquire by South African media and internet conglomerate Naspers for around $150-180 million, in an all-cash transaction deal. Japan's internet major Rakuten was also one of the contender to acquire Citrus Pay. However, the deal fell through. This acquisition deal is one of the largest deals in the Indian payments market. Earlier Snapdeal buy out Freecharge for $400 million (30% cash, 70% stock). The domestic payments market has been abuzz with mergers and acquisitions in the past year after vast opportunity created by leading players Paytm and Freecharge. ALSO READ: PayPal founder invest $3 million in Mumbai based startup citrus Pay Payment company Citrus Pay acts as a bridge between bank acc...
Fashion Marketplace Startup Voonik Raises 133 Cr Funding From Kunal Shah & Others
FUNDING

Fashion Marketplace Startup Voonik Raises 133 Cr Funding From Kunal Shah & Others

Fashion marketplace Voonik has raised USD 20 million (around Rs 133 crore) in Series-B round of funding to scale up operations. Sequoia Capital led the round with participation from Times Internet, Seedfund, Beenos, Beenext, Parkwood Bespin, Tancom Investments and Kunal Shah, it said in a statement today. "The funds will enable Voonik to enhance customer experience, strengthen their personalisation engine, and to scale up Mr Voonik and Vilara," the company said. "Series A helped us in gaining scale, and now with this renewed investor confidence through Series B, we are all set to consolidate our leadership in fashion commerce," co-founder and CEO Sujayath Ali Voonik said. Launched in August 2014, The company has 10 million registered users, 8 million app downloads, 100 million annu...
Education Start-up Cuemath Raises $4 million
FUNDING

Education Start-up Cuemath Raises $4 million

Cuelearn Pvt Ltd also known as Cuemath runs an Education start-up has raised $4 million from Sequoia venture capital firm and existing investor Unitus Seed Fund. With this round of funding, Cuemath aims to expand to international markets and increase the number of teachers that use its platform from 1,200 to 5,000. The firm declined to say how many students use its platform. “What we are essentially saying is that we don’t require someone to teach actively. Unlike others, in our case, the system is doing the teaching, and not the teacher. Math is the biggest need for children. Fitting many subjects into the same time slot will dilute the learning,” said Manan Khurma, founder of Cuemath. The firm had in August raised an undisclosed amount from Alok Mittal, former managing director of ...