12 Indian Startups Making News This Week (13 March- 19 March)

20/03/2017
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E-commerce Industry

1) LatestOne founded by Ameen Khwaja: Hyderabad-based online store for tech accessories, LatestOne secured $3.35 million through a preferential allotment. Florintree led and advised investors in this round of preferential allotment. The investors include Mathew Cyriac (former Co-Head of Blackstone India Private Equity Business), Chidambaram Palaniappan (founder of Florintree), K. Madhavan (Joint Managing Director of Star TV India), and Bharat Sheth (Managing Director of Great Eastern Shipping). Other participants in the round include Ashish Dhawan, founder of Chryscapital apart from another existing investor, Passage to India Master Fund. The startup will utilize the latest funding for investments in additional fulfillment centres, brand building, inventory, building B2B channels and developing the managed market place further.

Consumer Internet Industry

2) m.Paani founded by Akanksha Hazari: Mumbai-based loyalty and marketing startup m.Paani raised $1.35 million in its Pre-Series A round of funding from IDG Ventures, Blume Ventures, and Saha Fund. The company plans to use the funds towards product development, sales, and marketing functions.

3) iReff founded by Nizam Mohideen, Prasanna Hegde, and Rajesh Badgeri: Bengaluru-based iReff got selected for Facebook’s developer-focused programme ‘FbStart’ which caters to the early-stage, mobile-focused startups. As part of the programme, the startup will be provided with services & credits worth $40,000.

4) Matchbox founded by Jude Pereira: Matchbox, the dating app to match people through music announced its acceptance into Facebook’s FbStart program under the Bootstrap track. With this, the company has also received services worth $40K towards its initial growth phase.

Technology Industry

5) ShilpMIS founded by Hardik Desai: ShilpMIS Technologies Pvt Ltd secured an undisclosed amount of funding via the IvyCamp platform. The investment was from digital industry veteran and investor Mr. Puneet Gupta, Nimitt Desai, partner at Deloitte USA and other HNIs.

6) farMart founded by Mehtab Singh Hans, Alekh Sanghera, and Lokesh Singh: Indian Angel Network (IAN) made an undisclosed investment in Gurugram-based farMart, an agriculture machinery renting platform for the farmers and by the farmers. The investment was from Ambarish Raghuvanshi on behalf of IAN and he has also joined the board of the company. farMart is currently operational in one district and will be expanding to more than 20+ districts in Uttar Pradesh, Uttrakhand, Haryana and Madhya Pradesh.

Healthcare Industry

7) MyDermacy founded by Ankit Khurana: Health startup MyDermacy raised an undisclosed amount of funding from Chinese venture capital firm Cyber Carrier. The investor acquired 15-18% stake in the company. The round also saw participation from MyDermacy’s existing investors. This funding will be deployed towards the expansion of the product offering and leadership hiring.

8) Fitso founded by Naman Sharma, Saurabh Aggarwal and Rahool Sureka: Fitso, a health and fitness app secured $200K of angel funding led by a group of angel investors including Sujeet Kumar (ex-president, Flipkart), Bhupinder (CEO, INtelenet), Yashish Dhaiya (CEO, PolicyBazaar) among others. With this round of funding, Fitso plans to invest extensively in product development, expanding its team, making the app more engaging and easy to use. Additionally, the team has also launched multiple offline training classes for Running, swimming and triathlon in Delhi-NCR and building a team of best coaches to provide personal training.

9) FITNAPP founded by Sagar Verma and Akshay Jhinga: Delhi-NCR based online fitness startup FITNAPP secured an undisclosed amount in Pre-Series A round of funding led by SD Group, a leading name in Real Estate, Education and International trading. The company will deploy the funds for online expansion, increasing the number of associations, partners and marketing. Also, in the next one year FITNAPP plans to infuse funds into technology and roll out new highly personalized fitness management tools for users. The company also plans to scale up its operation and expand into new geographical footprints.

Digital Media Industry

10) POPxo founded by Priyanka Gill and Namrata Bostrom: Kalaari capital backed media startup POPxo, raised $2.7 million in a series-B round led by Japan’s GREE Ventures, along with existing investors Kalaari Capital and IDG Ventures India. The company will capitalize the fresh capital on product enhancement to build new features and different formats for news presentation on the platform.

Finance Industry

11) Property Share founded by Kunal Moktan and Hashim Khan: Bengaluru-based Property Share, raised an undisclosed amount of funding in a round from Japanese asset management firm Asuka, existing investors Pravega Ventures and Singapore-based BEENEXT. The startup will use the recently raised capital for technological upgrade and recruitment across areas such as investment, operations and technology.

Home-service Industry

12) Frapperz founded by Rimjhim Ray and Jyotirmay Kanthal: Frapperz, a community-powered, intuitive digital platform focused on simplifying the home set up and home management processes, raised an angel round of$100K from undisclosed investors. Since its launch in Kolkata, the app has registered 10K+ active downloads and notched up a Gross Transaction Value of $10K per month.

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