In the second week of November, the Indian startup ecosystem has managed to gather around $241.5 million (approx INR 1,720 crore ) (including the undisclosed amount of funding) investment across 17 deals, including three acquisition pacts.
Once again, the IndianWire has brought to you the weekly funding galore for the second week of November (from 3rd to 9th Nov 2019).
Here is the list of startup deals that contributed into the fund bank of the Indian startup ecosystem.
- KukuFM: In a rare format of startups, KukuFM, a podcasting platform, has secured an undisclosed amount of funding from Shunwei Capital, India Quotient and 3one4 Capital. The startup Kuku FM stated, “Audio content was always mostly limited to and synonymous with music. Consumers are now looking for more different, inclusive and enhancing listening experiences.”
BeYouPlus, a health and wellness platform, has achieved an investment of $3.2 million (approx INR 22 crore) from IvyCap Ventures, Madison Capital, Angel Network and a slew of investors. The Delhi-based startup BeYouPlus, will utilise the freshly-pumped capital to expand its presence in more than 15-20 cities in next 18 months. It also looks to expand its product portfolio to other medical areas like gastroenterology or gynaecology in the coming years.
Local video news provider Lokal, has bagged $3 million (approx INR 22 crore) investment from 3one4 Capital, Y Combinator, RB Investments, SOMA Capital, India Quotient, and a bunch of investors. The Bengaluru-based startup Lokal, will be using the newly-infused financial to improve its product. It also plans to expand its team with an aim to foray into new markets as well as strengthening its presence in existing ones.
Amica, a newly-launched fintech startup, has bagged $24 million (approx INR 169 crore) in its maiden funding round from Greyhound Capital, 3one4 Capital, Rocket Internet, Matrix Partners and Sequoia Capital. The financial pump in the fintech platform Amica has valued the company at $70 million.
Gradeup, an edtech startup, has bagged $7 million (approx INR 49 crore) in series A funding from Times Internet. The platform Gradeup, will be utilizing the infused capital to upgrade its technology and product capabilities, diversift offerings and scale its academic team.
Merely a day after Freshworks, a SaaS-based platform, announced to expand its services into the US market, the platform has now raised $150 million (approx INR 1,060 crore) funding round from Google, Sequoia and Accel. While, according to the source, the current funding round was a pre-Initial public offering round as the company is looking to go public by 2021.
- peAR Technologies:
One of its kind startup, that deals with deep-tech computer vision and augmented reality (AR), peAR Technologies, has raised an undisclosed amount of funding from seed investor Venture Catalysts. The AR-driven platform peAR will put the capital in developing newer technology stack as the startup is in process of patenting its current technology.
Hoopy, a two-wheeler vehicle maintenance startup, has bagged an undisclosed amount of funding from Venture Farmer and Lead Angels Network. Abhinav Shrivastava, co-founder at Hoopy, said, “Tech-enabled operations will be the game changer of this technology starved industry. Hoopy will use this fund in its product development and refinement to further improve customer service and operational efficiencies.”
With an aim to reach out to maximum number of schools with its model of education, ENpower, an edtech startup, has bagged INR 2.65 crore as seed funding from Nikhil Vora, founder and CEO of Sixth Sense Ventures. The edtech space ENpower will be putting the infused financials to expand its outreach to 300 schools in the next 18-24 months. It will also invest in building tech platforms that will enable an ecosystem of students, educators, corporates, and startups to encourage innovation and entrepreneurship among young minds, and scale IPs such as India’s Future Tycoons (IFT) to build larger awareness about the mission.
TruckSuvidha, a logistics startup, has bagged an undisclosed amount of seed funding from GAIl (Gas Authority of India Limited). The startup TruckSuvidha will be using the newly-raised financials to invest in technology backend and also invest towards entering more cities as part for the company’s expansion plans.
Wiggles, a petcare startup, has secured $1 million (approx INR 7 crore) in its maiden funding round from a slew of angel investors. The Pune-based startup Wiggles, will implement the infused financials to strengthen its presence, operations, distribution and expand its product range and introduce more products.
goStops, a Delhi-based youth traveller hostels platform, has secured an undisclosed amount of funding from angel investors. The platform goStops will put the raised funding in expanding its presence across the country by doubling its bed capacity in the next one year. It will also utilise the financials to boost its product offerings through investments in technology and training, add new revenue streams, strengthen its marketing, and build a team to handle the next phase of growth.
Thinkwide PGO, a startup which helps people find hostels and PG accommodation, has raised $1 million (approx INR 7 crore) from clutch of individual investors. The Hyderabad-based startup Thinkwide PGO will use the infused capital to help it consolidate service offerings, lay more emphasis on enriching its technology platform, widening properties network, and foray into newer citites.
YourOwnROOM, a proptech startup, has bagged $1.3 million in seed funding from Lotus Capital, slew of angel investors. The company YourOwnROOM will use the infused financials to scale the assets under its management to up to 25,000 and add Executive Housing for the premium property, over the next few years.
In a different segment of startup, driven by kids safety on roads, PiggyRide, a transport service for kids, has raised INR 7.5 crore from JAFCO Investment Asia Pacific, along with a clutch of angel investors. Manish Tewari, CEO, and Co-founder, PiggyRide, said, “Our mission is to make the parents’ life hassle-free with a simple, flexible and safe experience for their kids.
Adda247, an online learning startup, has secured $6 million (approx INR 42 crore) in series B round of funding from Infoedge India, Asha Impact and STL. Through the freshly-infused financials, Adda247 will expands its offerings to new exam categories, add new languages on the platform, and amplify its pan-India presence.
Cars24, a platform to buy and sell used cars, has bagged $44 million (approx INR 312 crore) investment from its parent company Global Car Group Pvt Ltd.
Besides the funding galore, the acquisition deals happened during the week are as follows:
- Automation Anywhere:
Automation Anywhere, a robotic-driven space has acquired Cathyos Labs, a product engineering startup in order to strengthen the former’s engineering team and help increase product development, support and delivery for customers. “There is growing customer demand for intelligent automation technology in India and across the broader region as organizations seek to improve productivity and lower operating costs,” said Prince Kohli, Chief Technology Officer, Automation Anywhere.For details: Robotic startup Automation Anywhere acqui-hires product engineering space Cathyos Labs
Droom, India’s first automobile marketplace, has roll out a deal to strengthen its credit and auto loans business, for which the Gurugram-based platform has acquired Xeraphin Finvest in an all-cash deal. According to sources, the acquisition was made for an estimated $3-3.5 million by Droom.For details: Automobile marketplace Droom acquires Xeraphin Finvest to boost credit, auto loans business
- Netcore Solutions:
Netcore Solutions, a pioneer in SaaS-based segment has reportedly acquired Boxx.ai, an artificial intelligence-driven startup. As part of the acquisition, Boxx.ai’s founders, along with the rest of the team will join Netcore to continue building their product.For details: SaaS-based company Netcore Solutions acquires AI-driven support platform for e-commerce Boxx.ai