We bring you the latest edition of Funding Roundup: Indian Startup Funding of the Week. The dates range from 23rd April 2018 to 29th April 2018.
This week the startup economy raised around 33 percent fewer funds compared to last week investments and fundings. You can read the know more about the fundings between 8th April 2015 and 15th April 2015 by reading this.
This week 13 startups raised funds from various investors like Nexus Venture Partners, Amazon, Sunil Munjal, Michael Carlos, Dalip Pathak, Oppo, Neoplux, Shashank Sharma, Pramod Singhal, YourNest Angel Fund, IDG Ventures India, Unitus Seed Funds, C Cube Angels, Info Edge, Blume Ventures, Goldbell Group, Vidal Healthcare and GEMS Advisory.
The startup economy raised around $50 million in three seed funding rounds, one Series A round, two Series C rounds while the rest being unknown rounds. The amount $50 million is equal to almost ₹331 crores in Indian currency.
One of the biggest Indian startup funding this week was Capital Float, a fin-tech startup raising $22 million in a Series C funding.
Mihuru raised the lowest amount of all the 13 funding deals that occurred in that period. It raised not more than INR 99,00,000 (Ninety-Nine Lakh Rupees).
In Details: Indian Startup Funding of the Week
So let us discuss each funding one by one in details. We are sorting the funding in descending order of amount raised by the startup.
Capital Float – Unsecured lending service Capital Float raises $22M in Series C funding led by Amazon. The Bengaluru-based firm will use the funds to bolster its end-to-end digital loan system and design innovative credit solutions. With the funding round, the total equity funding in the company reaches $107 million.
Nykaa – At a valuation of $453 million, the Mumbai-based beauty marketplace raises $11.3 million in a funding round led by Sunil Munjal, Marico Mariwala, Dalip Pathak and Michael Carlos. Nykaa will use the funds to enhance retail distribution and boost its private label.
POPxo – The Delhi-based digital media startup around women raises $5.5 million in Series C round led by Neoplux (Korea) and OPPO (China). POPxo aims to use the funds to consolidate commerce as a strong revenue stream by strengthening its vernacular offerings, boost its Hindi edition and enhance video creation.
PayMe India – PayMe India, a Noida-based online lending startup raises $2 million in angel funding from investors like Shashank Sharma, Pramod Singhal and other Singapore-based investors. The fintech startup plans to use the funds to increase its lending capacity and capture new markets.
Emotix – Robotics startup Emotix raises $2 million in fresh funds led by investors like IDG Ventures India and YourNest Angel Fund. The Mumbai-based startup that identifies emotional intelligence will use the funds for product development and R&D in areas like consumer robotics.
Hasura – Hasura, a SaaS startup offering various developer tools raises $1.6 million in a seed round of funding led by Nexus Venture Partners and GREE Ventures. The Bengaluru and San Fransisco based startup aims to utilize the funds to accelerate product development and strengthen marketing and developer relations teams.
Pitstop – Existing investors Blume Ventures and Singapore-based Goldbell Group put $1.6 million in Pre-Series A funding round in car repair and servicing startup Pitstop. The Bengaluru-based startup plans to use the funds to scale up “Doorstep Service” across the cities like Bengaluru and Delhi-NCR and improve technology to support the infrastructure.
Doxper – Healthcare startup Doxper raises $1.1 million in Pre-Series A funding led by existing investor Vidal Healthcare. The Mumbai-based startup plans to utilize the funds to expand its presence and enter global market into the UK, Middle East, Southeast Asia, Brazil and South Africa by early next year.
Utter – Pune-based edtech startup Utter raises $824,000 from Unitus Seed Fund. The chatbot-based firm plans to target 1 million learners by December 2020 and expand internationally in USA, Southeast Asia and Europe by infusing the fresh funds into its operations.
Hyperdata.io – Big data market research startup Hyperdata.io raises $750,000 angel investor CCube Angels Network. The Hyderabad-based startup aims to use the funds to improve its product offering, enhance quality, add new signals and increase data coverage.
ShoeKonnect – B2B marketplace startup for leather products ShoeKonnect raises $460,000 from Info Edge (India) Ltd, the company behind Naukri.com. The Agra-based startup aims to use the funds to start new lines of business and increase customer base.
Career Anna – Video-driven edtech startup Career Anna raises $450,000 from a group of angel investors. Subinder Khanna represented the angel investors in the funding round. The Gurugram-based startup plans to use the funds to launch online learning programs on Artificial Intelligence, Data Science, Machine Learning, Deep Learning and other new tech fields.
Tripshelf – Online travel marketplace firm Tripshelf raises $240,000 in Pre-Series A funding round led by GEMS Advisory, Alok Mittal, Sachin Bhatia and several others. The New-Delhi headquartered startup plans to use the funds to strengthen its business operations and achieve hyper growth.
Mihuru – Travel fintech startup providing loans for flight tickets raises $150,000 from undisclosed investors in the seed round. The Mumbai-based lending startup aims to use the funds to hire new talents and enrich their current products and offerings. Mihuru also looks to expand into credits for other travel verticals in addition to current flights vertical.
Earlier This Month
Tala, the leading global technology company committed to financial inclusion announced to bring its popular consumer lending app to India. The expansion was announced along with a new $50 million Series C investment led by Revolution Growth to scale up the success already in progress.
IndigoLearn, Hyderabad based Finance & Accounting focused Ed Tech Startup announces raising of $150K in its seed round. Angel investors based out of India, US & Europe participated in this round. IndigoLearn provides e-learning solutions to students and professionals in Accounting & Finance domains.
Chai Point, the largest organized Chai Company in India raised $20 million Series C funding round, led by Paragon Partners. All existing investors – Eight Roads (Fidelity’s India PE arm), Saama Capital and DSG – participated in this round, with some of them investing super pro rata.