24 Indian Startups Making News This Week (08 May- 14 May)

May 15, 2017
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Consumer Internet Industry

1) Ace Turtle founded by Berry Singh and Nitin Chhabra: Bengaluru-based omnichannel platform Ace Turtle secured $5 million in Series A funding led by Vertex Ventures and C31 Ventures. The startup will deploy the newly raised funds to build its leadership team, augment the technology platform, and work toward an aggressive expansion of its customer base in India and overseas.

2) Fourth Ambit founded by Jikku Jolly, Shyam Menon, Ruby Peethambaran, and Rahul Das: Bengaluru-based startup Fourth Ambit raised $600K from crowdfunding platform 1Crowd and its investor community. Fourth Ambit is a digital showcase platform for schools and colleges, which enables them to connect and engage with their key stakeholders.

3) Book My Diamond founded by Sankalp Goyal and Pinank Kamdar: Mumbai-based B2B diamond retailer Book My Diamond raised an undisclosed amount in an angel funding round from Chirag Nikunj Sheth (Chief Research Consultant at UK-based firm Metals Focus) and two other undisclosed investors.

4) ION Energy founded by Akhil Aryan: Mumbai-based stealth mode startup ION Energy secured an undisclosed amount of angel funding from Sushil Jiwarajka, Chairman of OMC Power and Founder of Nippo Batteries; Aakrit Vaish and Swapan Rajdev, the founders of Haptik. Executives from Times Internet, Dentsu Aegis, Salesforce, and Credit Suisse also participated in this round of funding. The funds raised in this round will be used towards product development and bringing the technology closer to mass manufacturing.

5) Log 9 Materials founded by Akshay Singhal: Bengaluru- and Delhi-based Nanotechnology startup Log 9 Materials secured an undisclosed amount in the Pre-Series A round of funding from Delhi-based micro VC firm, GEMs. The startup plans to license out two technologies this year, a move that might help it to attain a total profit over $2 million.

6) RemitGuru founded by Naushad Contractor: The joint entity of Infibeam- CCAvenue will invest $466K in digital money transfer platform, RemitGuru. Infibeam will partly acquire Avenues Payments and will invest $310K and the remaining $155K would come from CCAvenue. CCAvenue holds a 26.76% stake in Mumbai-based RemitGuru.

E-commerce Industry

7) Yepme founded by Vivek Gaur, Anand Jadhav and Sandeep Sharma: Fashion e-commerce firm Yepme, operated by VAS Data Services Pvt. Ltd, raised $700K in bridge funding.  This bridge round will help the company tide over the current liquidity crunch.

8) Anchanto founded by Shafique Muhammad, Vaibhav Dabhade and Abhimanyu Kashikar: Singapore and India-based e-commerce enabler and logistics startup, Anchanto secured funding from Luxasia Group and Transcosmos Inc. (TCI). The startup will use the newly raised funds to propel its network of partners, sellers, and service providers. It will also use it to expand its network in Southeast Asia.

9) ShopClues founded by Sandeep Aggarwal, Sanjay Sethi, and Radhika Aggarwal: Clues Network Pvt. Ltd, which operates online marketplace ShopClues, secured $7.7 million in venture debt from InnoVen Capital. The company will use the funds for day-to-day business activities.

10) Invoice Bazaar: Dubai-based fintech firm Invoice Bazaar raised an undisclosed amount of funding from Shirish Apte, former Asia-Pacific CEO and Chairman at Citigroup. Apte has also joined the advisory Board of Invoice Bazaar.

Technology Industry

11) Devourin founded by Sivanandan Chettiyar: Pune-based restaurant automation startup Devourin secured an undisclosed amount of Seed funding. The investment was from Cybage co-founder and Relfor Labs founder and Chief Executive of Technology, Deepak Nathani against a 20% stake in the startup. The startup will deploy the funds to expand its operations across India.

12) Curie Labs founded by Abhinav Saksena and Saurabh Vij: Delhi-based energy analytics startup Curie Labs raised $50K from Southeast Asia-based blockchain incubator Satoshi Studios. The startup will use the funds for increasing product and sales.

13) Uncanny Vision founded by Ranjith Parakkal: Bengaluru-based computer vision solution provider for robotics, video surveillance Uncanny Vision raised an undisclosed amount of funding from Facebook’s Product Head Anand Chandrasekaran. Its main product is an intelligent surveillance camera that uses deep learning for scene/face/human pose recognition.

14) Sequretek founded by Pankit Desai and Anand Naik: Mumbai-based cyber security startup, Sequretek secured an undisclosed amount in its Series A funding round from GVFL and Unicorn India Ventures. Sanjay Randhar, MD, GVFL and Manoj Laddha, Partner, Unicorn India Ventures will join the Board of Sequretek as a part of the round. The startup plans to utilize the raised funds to build intelligent security platform, improve current offerings and explore newer markets in India and abroad.

15) Lucideus founded by Saket Modi: Delhi-based cyber security startup Lucideus closed an undisclosed amount of angel funding round from a set of marquee investors. The funding news comes in sync with Lucideus’s platform launch – SAFE.

16) Vidooly founded by Nishant Radia, Ajay Mishra, and Subrat Kar: Noida-based video intelligence platform Vidooly secured $1.4 million in Series A round of funding led by Times Internet and GVFL (Gujarat Venture Finance Ltd). The raised funds will be used to further expand in India, as well as in international markets in the US, Europe, and Asia.

17) Aequm: Bengaluru- and Singapore-based cloud e-commerce firm Aequm secured $1 million in a Seed funding round from undisclosed investors. The company will utilize the funds to expand its operations.

Travel Industry

18) NightStay founded by Nasr Khan and Deepak Negi: A Delhi-based mobile marketplace for last-minute hotel bookings NightStay secured an undisclosed amount in Pre-Series A round of funding from IAN and LetsVenture. Aroon Purie (founder/editor of India Today), Ambarish Raghuvanshi (former Info Edge CFO) and other investors. The funds raised will be mainly used to ramp up tech platform and for geographical expansion.

Food and Beverage Industry

19) MyGreens founded by Anurag Mishra and Rohan Gupta: Cold pressed juice startup; MyGreens secured $1 million in an angel funding round via LetsVenture. The round was from Ajay Relan (Founder and Chairman, CX Partners). Other investors in the round included Sundeep Bhandari (Director & CEO, Petrodil) and other undisclosed investors as well. The startup will use the raised funds towards expansion and launch new products targeting the Indian market.

Healthcare Industry

20) CureFit founded by Ankit Nagori and Mukesh Bansal: Bengaluru-based sports and fitness startup Curefit raised $3 million funding from Tata Sons Chairman Emeritus Ratan Tata’s RNT Capital and others. The round also saw participation from Gokul Rajaram (product engineering lead, Square); Aditya Agarwal (Vice President of Engineering at Dropbox); Ruchi Sanghvi (former VP, Operations, Dropbox); along with Shishir Mehrotra (founder of TBD).  The startup will currently focus on its operations in Bengaluru, before offering its services to other major cities in the country.

21) Tiyo founded by Rana Dutta, Sunil Mishra and Sandip Bodak: Kolkata-based healthtech startup Tiyo raised an undisclosed amount of funding from its existing investors Anish K and Ajith Nair. The company claims to have recently crossed 100,000 doctor appointments through its platform.

Advertising Industry

22) Chymera VR founded by Smeet Bhatt and Sushil Kumar: San Francisco- and Bengaluru-based Chymera VR raised an undisclosed round of seed funding from a clutch of investors including Anupam Mittal (People Group) Varsha Rao (Airbnb, LivingSocial), Surojit Chatterjee (Google), Nirav Choksi (HHC Holdings) and others. The deal was facilitated by angel network LetsVenture. The platform will use the funds to ramp up its operations in Bengaluru while expanding the client base overseas, mainly in the US.

Financial Industry

23) EarlySalary founded by Akshay Mehrotra: Pune-based fintech startup EarlySalary secured $4 million Series A funding led by IDG Ventures India and Dewan Housing Finance Corp Ltd (DHFL). The startup will deploy the funds to leverage on capital deployed for building products and lending book as well as expanding the team.

Legal Industry

24) LegalRaasta founded by Pulkit Jain, Kanika Gupta, and Himanshu Jain: Delhi-based legaltech startup LegalRaasta raised $5 million in Series A round of funding from Impanix Capital. The startup will use the raised funds in building GST compliance software for SMEs, CAs and enterprises. Also, Senior VAT official, RK Jain has joined the company’s Board as an advisor.

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