Monday, May 20

Tag: Sequoia capital

Sequoia Capital Backed Fashion Marketplace Startup Voonik Acquires 3 Startups
ACQUISITION

Sequoia Capital Backed Fashion Marketplace Startup Voonik Acquires 3 Startups

Voonik, a Sequoia Capital-backed fashion marketplace startup which is focused on curated fashion has acquired three startups to build its premium fashion product Vilara. Voonik is attempting to strengthen its leadership in the unbranded fashion segment largely via acqui-hires or team acquisitions of startups in niche fashion offerings. Bengaluru based Voonik has now acquired five startups in the past six months. It raised $5 million funding from Sequoia Capital and SeedFund last year. It has claimed $100-million run rate and is aiming to grow four-fold in GMV by the end of this fiscal. The three companies are online marketplace for designers and boutiques Zohraa, which has a 12-person team, the eight-person team at online silk store Picksilk.com and the nine person team at Styl, whic...
1mg Raises Additional Series B Funding From HBM Healthcare
FUNDING

1mg Raises Additional Series B Funding From HBM Healthcare

1mg, India’s leading consumer health platform, has raised has raised an undisclosed amount of additional Series B funding from HBM Healthcare Investments AG, the company said in a statement. In April, the company raised Rs.100 crore in the Series B round from Maverick Capital Ventures, the venture capital (VC) arm of US-based hedge fund Maverick Capital Ltd, besides existing investors Sequoia Capital and Omidyar Network. 1mg initially raised $6 million from Sequoia Capital, Intel Capital, Omidyar Network and Deep Kalra, co-founder of travel portal MakeMyTrip. The funding will help 1mg fend off competition from rivals such as Sequoia Capital-backed Practo Technologies Pvt. Ltd, which has so far raised $124 million from investors such as Tencent Holdings Ltd, Sofina SA, Google Capital ...
Online Tax Returns Filing Platform ClearTax Raises $2 million (Rs 13.3 crore) Funding
FUNDING

Online Tax Returns Filing Platform ClearTax Raises $2 million (Rs 13.3 crore) Funding

Online tax returns filing platform ClearTax, has raised $2 million (Rs 13.3 crore) from FF Angel, and Sequoia Capital. The company will use the proceeds from the round to launch a slew of consumer-focused tax-saving products, including mutual funds and other equity-linked saving schemes. "We have taken the long route, and now we are extremely excited to have some of the biggest thought leaders and investors on board as our partners," Archit Gupta, co-founder of Cleartax said. "We are an instrument-agnostic platform that will allow consumers to choose their rate of return and select what to have in their tax savings basket." ClearTax has over 1 million consumers e-filing their tax returns, and the company is targeting bringing on board 5 million users by the end of the current fiscal,...
Video Platform 90 Seconds Raises $7.5 mn Funding From Sequoia
FUNDING

Video Platform 90 Seconds Raises $7.5 mn Funding From Sequoia

Cloud video production platform 90 Seconds today announced it has raised USD 7.5 million in Series A financing led by Sequoia India. The round was supported by SKY TV NZ, Airtree Ventures, Beenext and Fotolia.com (sold to Adobe for USD 860 million) and the founder of the platform Oleg Tscheltzoff, will accelerate 90 Seconds global expansion as the market leader in cloud video production, Sequoia said in a statement here. 90 Seconds reduces the complexity of video production, giving brands and agencies access to a marketplace of creatives, and an automated, end-to-end suite of workflow tools. "We are excited to work with new and existing investors who understand the opportunity 90 Seconds has to completely change the global video production landscape," Founder and CEO of 90 Seconds...
CITRUS PAYMENT RECORDS 200% GROWTH IN REVENUES IN FY 2014-15
News

CITRUS PAYMENT RECORDS 200% GROWTH IN REVENUES IN FY 2014-15

Born out of a requirement of higher online payment success rate, Citrus is a key player in the Payment Gateway industry. It competes with major players like BillDesk, TechProcess, CCAvenue, etc. Citrus was co-founded by Satyen Kothari and Jitendra Gupta in 2011. It is engaged in the business of payment processing for credit cards, debit cards, bill payments, prepaid cards and all other kinds of payment instruments. The company has secured funding from Sequoia Capital and Ascent Capital. In this article, Tofler takes a look at their financial performance in FY 14-15.   Founded in 2011 Turnover in FY14-15 INR 38 CR Expenses FY14-15 INR 53 CR   FINANCIAL PERFORMANCE OF CITRUS PAYMENT The company earned a revenue of INR 38 crores in FY 2014-15 as...
Zomato entering into online food business
News

Zomato entering into online food business

The next food order that you place from your favorite restaurant online might be delivered to your doorstep by Zomato itself. The Gurgaon-based company is planning to foray into last-mile delivery business. The company is in the process of finalizing its strategy for the same and is considering multiple op ions for introducing last-mile delivery options to its users in he coming months. "We are working on it and we may do it via an acquisition or partnership. Also, we might end up doing it on our own," Deepinder Goyal, founder and CEO of Zomato, told TOI. Goyal-led company is known for being a leading restaurant review platform in the country and it recently entered into online food-ordering business as the review space is getting crowded with multiple players, who have managed t...