13 Indian Startups Making News This Week (1 August-6 August)

Aug 8, 2017
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Consumer Internet Industry

1) Zepo founded by Nitin Purswani: Although a small ticket size funding, it was an important Indian startup funding of the week. Mumbai-based DIY e-commerce platform Zepo raised $501K led by LetsVenture and FreeCharge co-founder Kunal Shah. People Group founder and CEO Anupam Mittal and Hetal Sonpal, former Head of Strategic Alliances at Intel India, also participated in the round.

2) MobiKwik founded by Bipin Preet Singh and Upasana Taku: Gurugram-based digital payments company MobiKwik will be raising $35.2 million from Bajaj Finance Ltd (BFL) by selling 11% stake. Bajaj Finance has entered into a subscription agreement with One MobiKwik Systems. The strategic tie-up with one of the largest non-banks in India will enable MobiKwik to launch India’s first debit and credit wallet. Through this association, Bajaj Finance Ltd will extend credit facilities via MobiKwik’s mobile app catering to the wide customer base of both the companies.

3) STICHIO founded by Vivek Aalok and Rajan Bhuyan: Hyderabad-based social networking platform STICHIO got nominated by Facebook to get incubated in its coveted FBStart programme. As a part of this programme, STICHIO would receive benefits worth $40K.

4) BoxMySpace founded by Pratyush Jalan: Mumbai-based on-demand warehousing startup BoxMySpace secured an undisclosed amount of Pre-Series A round of funding from a group of logistic players and other investors. The startup funding was from R. Jayakumar, (founder & MD, Jayem Group), along with Vaibhav Vohra, (Director, Continental Carriers), Aditya & Rhea Vazirani (Directors, Robinsons Global), AVN Business Solutions, Dreamweaver Investments and Business Solutions and other individual investors. Existing investor Satveer Singh Thakral (Singapore Angel Network) has also participated in the current round. The profits will be utilized for scaling of operation, upgradation of the technology platform and strengthening the back end infrastructure for building the network of warehouses and supporting logistics services across multiple cities.

E-commerce Industry

5) CoutLoot founded by Mahima Kaul and Jasmeet Thind: Delhi-based fashion recommerce platform raised an undisclosed amount in a Pre-Series A round of funding assisted by Venture Catalysts. The funding round was led by investor Anuj Puri and also saw participation from Artha India Ventures, Sidharth Kothari, VCats President Dr. Apoorv Ranjan Sharma, Dheeraj Jain of Redcliffe Capital and others. The startup funding will be deployed towards scaling up, hiring consumer-driven talent and marketing, as well as to build a bigger buyer-seller fashion community in the country.

Technology Industry

6) Touchkin founded by Jo Aggarwal and Ramakant Vempati: Bengaluru-based predictive healthcare startup Touchkin raised $1.3 million in an angel funding round from Kae Capital. A consortium of undisclosed angel investors also participated in Indian startup Touchkin’s latest seed funding round. The startup funding will go into improving Touchkin’s AI chatbot Wysa.

7) Pi Datacenters founded by Kalyan Muppaneni: Andhra Pradesh-based enterprise class data centre and cloud service provider Pi Datacenters secured $90 million in a Series B funding round from existing and new investors. The startup funding will be used to support the second phase of the new Pi Amaravati facility. The company will also be spending a portion of the funding for the proposed construction of data centres in Kochi and Naya Raipur.

8) LimeTray founded by Akhilesh Bali: Delhi-based SaaS solutions provider, LimeTray raised an undisclosed amount of funding from JSW Ventures. The startup funding will be used to further develop the company’s ‘restaurant OS,’ a product suite that was launched in 2015. The startup will also spend funding on expanding LimeTray’s reach in the international market.

Digital Marketing Industry

9) Ethinos founded by Siddharth Hegde: Mumbai-based full-service digital marketing firm Ethinos Digital Marketing Pvt. Ltd raised an undisclosed amount of private equity funding from Triton Investment Advisors.

Education Industry

10) Leverage Edu founded by Akshay Chaturvedi and Rajiv Ganjoo: Delhi-based Leverage Edu, an online platform for higher education services, secured an undisclosed amount of seed funding from a clutch of investors. Angel investors include Kashyap Deorah, founder of HyperTrack; VRL Logistics MD Anand Sankeshwar; Sadashiva NT, the former chief financial officer of Babajobs; and Arjun Mehta, former CFO at American Express India, among others participated in the round. The startup funding will be deployed to grow its nine-member team and invest in product development.

Healthcare Industry

11) Click2Clinic founded by Sujeeth R. Punnam and Murali Bharadwaj: Hyderabad-based healthtech startup Click2Clinic, raised $850K in Seed funding from a group of angel investors in the US and Malaysia. Narottam Thudi and Shireesh Palle, both US-based doctors, participated in the funding. The startup funding will be utilized to reinforce its product offering and expand its services to new markets.

12) Docwise founded by Rahul Gupta and Sarthak Handa: Indian startup Docwise, a doctor consultation platform, secured an undisclosed amount from former Flipkart executives Mekin Maheshwari and Gaurav Bhalotia. A group of other undisclosed investors also participated in this round.

Fintech Industry

13) Lendingkart founded by Harshvardhan Lunia and Mukul Sachan: Ahmedabad-based fintech startup Lendingkart Group raised $10 million debt funding from Aditya Birla Financial Services, Kotak Mahindra Bank, Tata Capital and a few other undisclosed investors. The company will utilize the debt investment to expand the SME lending platform’s presence to more than 700 cities around the country.

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