11 Indian Startups Making News This Week (14 August- 20 August)

21/08/2017
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Consumer Internet Industry

1) Instamojo founded by Sampad Swain: Bengaluru-based micro products and digital payments platform for SMEs, Instamojo secured an undisclosed amount of Pre-Series B funding led by Japanese payments firm AnyPay. The startup funding will be deployed to expand its suite of offerings and introduce e-commerce supporting services such as cataloguing, logistics, shipping and GST compliance assistance.

2) RentOnGo founded by Nikhil Chhabra and Vikas Jalan: Condivision, the parent firm of the Bengaluru-based online marketplace for renting bikes RentOnGo, secured $233K led by TVS Motor Company. TVS acquired a 24% stake in the company against this investment.

3) Redfox Protection Services founded by Rajendra Shekhavat: Ahmedabad-based Red Fox Protection Services Private Limited, a security services company, raised an undisclosed amount of funding from Sunil Rawtani against a minority stake. Sunil also joins as a strategic advisor to the Indian startup.

E-commerce Industry

4) GoZefo founded by Arjit Gupta, Rohit Ramasubramanian, Himesh Joshi and Karan Gupta: Second-hand goods marketplace GoZefo secured an undisclosed amount in a new round of funding.

Technology Industry

5) DeTech Technologies founded by Daniel Raj David: IIT Madras incubated IoT startup DeTect Technologies raised an undisclosed amount of funding led by IIM Ahmedabad’s CIIE, Axilor Ventures, angel network Keiretsu Forum, AJ Ventures and Investments of the Refex Group. The startup funding will be utilized for R&D and expansion to cater to international clients.

6) Simpl founded by Nitya Sharma and Chaitra Chidanand: Mumbai-based payments startup Simpl raised an undisclosed amount in a Series A round of funding from US-based venture fund Green Visor Capital LP II. The startup funding round also saw participation from other investors, including IA Venture Strategies Fund II LP, Boillot Family Trust, Russell M Byrne, The Oliver R. Grace Jr. Millennium Trust, SF Capital Investments LP and DIA Investments LLC.

7) Liv.Ai founded by Subodh Kumar, Sanjeev Kumar and Kishore Mudra: Bengaluru-based artificial intelligence startup Liv.Ai secured an undisclosed amount of funding led by venture capital firm Astarc Ventures. Liv.Ai’s speech-to-text software is being used across e-commerce enterprises and government utilities, besides companies with a consumer interface.

Finance Industry

8) DigiLend founded by Hemang Dattani: Mumbai-based fintech firm DigiLend Analytics & Technology Pvt Ltd secured $312K from InCred Finance and Temasek-owned Fullerton India Credit Company Ltd. The startup funding will be deployed to pilot its product in the personal loan segment.

9) KNAB Finance founded by Mandeep Chaudhary, Vineet Gupta, and Thomas Varghese: Bengaluru-based online lending startup KNAB Finance raised $389K in funding led by InCred and other individual investors including Mindtree executive chairman Krishnakumar Natarajan and Sharjah Islamic Bank’s senior Vice President Ravi Bhardwaj.

Logistics Industry

10) Rivigo founded by Deepak Garg and Gazal Kalra: Gurgaon-based logistics services provider TrucksFirst Services Pvt. Ltd, which operates Rivigo, is in preliminary talks with Softbank for a new round of funding at a valuation of over $1 billion.

Sports Industry

11) Sports Flashes founded by Sanjay Bhattacharya: Times Group invested an undisclosed amount in Delhi-based Sports Flashes, a multi-sports content app. The Indian startup will use the freshly raised funds to expand its audience base with “impactful marketing initiatives.”

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